Credit Suisse Sued over Losses on Subprime-Loan Bonds
Bloomberg News April 27, 2007 (New York)
(Updates amount traded in second paragraph.)
By Jody Shenn

April 27 (Bloomberg) -- Credit Suisse Group was sued by a Florida insurer that says it lost money on investment-grade bonds backed by subprime mortgages sold by the bank.

When bonds backed by assets default, ``we do see a lot of disputes, but most of them go to arbitration'' or get settled, said Janet Tavakoli, the president of Tavakoli Structured Finance Inc., a Chicago-based consulting firm. ``If you're a sophisticated investor, there's an embarrassment factor in admitting'' an investment failed by bringing a suit.

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