A group of investors in Credit Suisse Group AG bonds that got wiped out when UBS Group AG rescued the bank in a Swiss government-brokered deal are suing the European country in a U.S. court, Bloomberg News reported. The lawsuit, filed Thursday in federal court in New York, seeks more than $82 million plus interest and is the latest legal fight taking place in the US and Europe related to the bond write-down. Holders of Credit Suisse’s additional tier 1 bonds effectively saw about $17 billion of their notes written down to zero after the sale.

An Ontario judge issued an order on Tuesday that recognizes and enforces Red Lobster’s U.S. bankruptcy protection proceedings in Canada, the Canadian Press reported. The order from Judge Michael Penny was requested by lawyers for the beleaguered seafood restaurant chain's Canadian business, who told a virtual court their client is working to steady its operations. "Everything we are trying to do today is to stabilize the business," said Linc Rogers, a lawyer representing Red Lobster Canada, Inc.

Venezuela’s opposition is weighing a move that would slow the sale of oil assets under its control by having Citgo Petroleum Corp.’s holding company file for bankruptcy in the U.S., Bloomberg News reported. Opposition-appointed Petroleos de Venezuela executives are seeking to retain control of their most important overseas asset, which is up for auction, and are mulling using a U.S. chapter 11 filing to block finalization of its sale, said the people, who asked not to be identified because they weren’t authorized to speak publicly about the tactic.

The trial of exiled Chinese billionaire Guo Wengui began this week in New York, where he’s accused of swindling more than $1 billion from investors in a complex fraud scheme that netted him luxuries including a $26 million New Jersey mansion and a $37 million yacht, Bloomberg News reported. Opening arguments could start this week, once a jury is selected.

Bidders in a U.S. court auction of shares that will decide the ownership of Venezuela-owned U.S. oil refiner Citgo Petroleum can be required to say if their binding offers cover claims by Venezuela bondholders in a separate court action, a U.S. District Court judge ruled on Friday, Reuters reported. The decision lets bidders seeking to place multi-billion dollar offers for a Citgo parent's shares to be asked if they plan to set aside cash or consider how they may accommodate Venezuela 2020 note holders seeking payment of $3 billion in principal debt.

A Belgian court ruled Thursday that all assets in the country belonging to American investment group 777 Partners can be seized, in the latest legal setback for the embattled company that owns Standard Liège and several other soccer clubs, the Associated Press reported. The decision by a court in Liege came after Standard's former owner Bruno Venanzi and shareholders of the company holding the club’s stadium requested the move, saying 777 had defaulted on a payment.

U.S. authorities charged two Chinese nationals in a cryptocurrency scam that laundered at least $73 million from defrauded victims, the Justice Department said on Friday, Reuters reported. U.S. officials arrested Yicheng Zhang in Los Angeles on Thursday, according to an indictment unsealed in U.S. District Court in California's central district later that day. Daren Li, a dual citizen of China and St. Kitts and Nevis, was arrested at the Atlanta airport in April. The U.S.

The company that operates retailers Ted Baker, Lucky Brand and Brooks Brothers plans to close a number of stores in Canada and the U.S. after months of declining sales pushed the operations into insolvency proceedings, the Globe and Mail reported. Ted Baker Canada announced the launch of liquidation sales on Friday, covering nine out of 25 Ted Baker stores in Canada and all of the brand’s locations in the U.S. The sales also affect all Brooks Brothers and Lucky Brand stores in Canada. The company has shut down its e-commerce operations for the time being.

China strongly opposed the United States' tariff hikes, its commerce ministry said on Tuesday, vowing it will take resolute measures to defend its rights and interests, Reuters reported. "U.S. raising Section 301 tariffs violates President Biden's commitment to 'not seek to suppress and contain China's development' and 'not to seek to decouple and break links with China'," said a statement by the ministry, adding the move will "seriously affect the atmosphere of bilateral cooperation." U.S.

Grupo Aeromexico SAB is seeking a return to equity markets, filing for a US initial public offering two years after delisting from the Mexican stock exchange, Bloomberg News reported. The company intends to list American Depositary shares or ADS on the NYSE under the symbol AERO and there will be no public offering of the shares in Mexico, Aeromexico said in the prospectus. The company didn’t disclose the size or price range of the offering. Barclays, Morgan Stanley, JP Morgan, Evercore ISI and Apollo Global Securities will be underwriters for the deal.