Credit Suisse ordered to pay $926mn to former prime minister of Georgia

Credit Suisse has been ordered by a Singaporean judge to pay $926mn to former Georgian prime minister Bidzina Ivanishvili, a final blow to the bank before UBS is expected to complete its takeover as soon as next week.

Ivanishvili, who is Georgia’s richest man, had already won a case against the Swiss bank in Bermuda last year, where he was awarded $607.5mn.