Banking litigation in Switzerland refers to complex financial disputes between banks and corporations or individuals. The most common banking disputes in Switzerland target one of the following:
In Swiss banking litigation cases, court trials are usually the last resort plaintiffs refer to, arbitration being, most of the times, the less successful way to resolve an issue.
Large commercial litigation cases are usually brought before a Swiss court, mediation being rarely employed. Banking litigation cases are usually brought before the commercial courts in Zurich, Berne, Saint Gallen or Aargau.
According to the Swiss anti-money laundering legislation in order to avoid banking litigation, the compliance officer must verify the economic background of a transaction before it is concluded. When failing to do that, one of the parties will file a lawsuit. The most common types of financial claims in banking litigation cases in Switzerland usually involve:
Commercial proceedings in court begin with the plaintiff submitting a claim with the court. In Switzerland, the court will handle the documents submitted by both parties, the summons and the ruling. In order to secure any financial claim, a creditor will submit their claims according to the Federal Debt Collection and Bankruptcy Act in Switzerland.
Depending on the type of dispute and how it was settled, whether in court or by Swiss arbitration, a ruling can be privately or publicly enforced. Private enforcement is employed when parties have agreed and covers all types of assets and may take place by private sale or public auction.
Swiss companies involved in banking litigation will usually employ the Debt Enforcement Act to enforce the ruling of commercial court. The proceedings for the enforcement of a judgment are completed according to the Lugano Convention on Jurisdiction and Enforcement of Judgments in Civil and Commercial Matters.
For complete information about the Banking Law and legal representation in litigation cases please contact our attorneys in Switzerland.
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