Bär & Karrer with UBS in front of the the Federal Supreme Court
Bär & Karrer represented UBS in front of the Swiss Federal Supreme Court, with the latter upholding an appeal by the Swiss bank itself in a dispute brought up by a former Credit Suisse shareholder. In particular, the case has been set upon the conversion of Credit Suisse shares into UBS shares as part of the merger between the two banks in 2023.
The sentence
An unprecedented sentence by The Federal Supreme Court addressed the legal question of whether the Zurich Commercial Court has exclusive subject-matter jurisdiction for so-called appraisal claims pursuant to art. 105 of the Merger Act.
Sharing UBS’ legal stance, The highest Swiss court concluded that the Zurich Commercial Court has exclusive jurisdiction to hear corporate law actions arising out of the Merger Act. A previous decision from the Zurich High Court, holding that the Zurich District Court had jurisdiction to hear the former CS shareholders’ claim, has been therefore overturned.
The team
the Bär & Karrer litigation team working alongside UBS included partners Nadja Jaisli Kull, Cinzia Catelli, and Andreas Länzlinger, as well as associate Gianin Hoessly.
