VISCHER, representing a major Swiss bank, has prevailed in significant third-party claim proceedings in connection with a freezing of assets in the amount of CHF 40m before the Swiss Federal Tribunal. Upholding the judgments by the Basel courts of first and second instance, the Court dismissed a complaint filed by a foreign bank who had challenged the validity and reach of a pledge on bank accounts granted in favour of the VISCHER Client. The proceedings involved complex questions of both Swiss and Saudi-Arabian law. The judgment is final.

The VISCHER Team was led by Dr. Thomas Weibel (Dispute Resolution).