Credit Suisse has reached an out-of-court settlement with Mozambique over the decade-old "tuna bond" scandal 

UBS, the new owner of Credit Suisse, announced the settlement, putting an end to a damaging dispute 

The settlement involves both parties releasing each other from liabilities and claims related to the transactions 

The exact details of the settlement were not disclosed in the statement released by UBS 

As part of the agreement, UBS will forgive a portion of a loan made by Credit Suisse to Mozambique in 2013, which is reportedly less than $100 million 

The dispute centers around deals between Mozambican state-owned companies and shipbuilder Privinvest, funded in part by loans and bonds from Credit Suisse 

The funds were intended for the development of the fishing industry and maritime security but went missing, leading to a government debt crisis in 2016 

The settlement also includes most of the creditors involved in funding a 2013 loan to ProIndicus, a state-owned Mozambican company 

UBS, having acquired Credit Suisse, is committed to resolving its legacy legal disputes 

The settlement leaves French shipping mogul Iskandar Safa and Privinvest as key remaining defendants in legal battles over the funding and maritime deals, with allegations of bribery and corruption