Swissair has complaint against former executives rejected

Zurich Commercial Court rejected a new complaint filed by the liquidators of Swissair, against 14 former executives of the airline and the holding company, SAirGroup.

The liquidators accused the former leaders of unfair management as part of the abandonment of US$291 million in loans that Swissair had to grant to its parent.

At the time of the collapse of SAirGroup, these loans could not be repaid in full.

The court based its rejection of the complaint on the one hand that some defendants do not have passive legitimacy or capacity to be a party. The court dismissed the other hand the charge of breach of duty. The judgment, which is not yet in force, can be appealed to the Federal Court.