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25 January 2019

On 16 September 2016, the District Court of Zurich fully dismissed the objection by the two single largest third-party creditors against the schedule of claims of Lehman Brothers Finance AG in liquidation. The Supreme Court of the Canton of Zurich upheld this decision and denied the appeal of both creditors in its judgement of 7 July 2017. The two creditors brought the matter to the Swiss Federal Supreme Court. In its judgement of 17 December 2018, Switzerland's highest court dismissed the creditors' appeal. The dispute concerned the determination of Loss under a 1992 ISDA Master Agreement. VISCHER represented and defended the interests of the bankruptcy estate and its appointed liquidator PricewaterhouseCoopers AG.
The VISCHER team was led by partners Dr. Markus Guggenbühl (banking/finance), Dr. Jana Essebier (banking/finance and insolvency) and Dr. Christian Oetiker (litigation).