Belgium has launched a case against Switzerland at the International Court of Justice in a dispute over the 2001 bankruptcy of the former Belgian airline Sabena.
This content was published on
1 minute
The Belgian government and other Sabena shareholders are appealing for money from the now-defunct Swissair Group, which they say caused the bankruptcy by missing a major payment to Sabena.
The airline’s shareholders sued over the matter in Belgian court and Brussels argues Switzerland failed to enforce Belgian civil court rulings.
In the case taken to the international court, Belgium says Switzerland is bound under the 1988 Lugano international convention to respect Belgian court rulings.
Sabena went bust with the loss of 12,000 jobs. Swissair Group owned a 49.5 per cent stake in the airline.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Belgian probe blames Swissair for Sabena collapse
This content was published on
The damning report says Swissair’s failure to honour its commitments towards Sabena, in which it held a 49.5 per cent stake, directly led to the carrier’s collapse in 2001. The parliamentary commission’s 323-page report also blamed the Belgian government – the majority shareholder – and Sabena executives for mismanagement and for failing to defend the…
This content was published on
Profits and passenger numbers have recently declined for Swiss International Air Lines but it appears in better shape than many rivals and has added destinations while investing in new aircraft, premium seats and lounges. Swiss has all but buried the bad memories of the collapse of its predecessor, Swissair, since it was saved by a…
This content was published on
The defendants in Switzerland’s largest corporate trial had all denied charges that included damaging creditors, mismanagement, making false business statements and forging documents. Prosecutors had requested that the former executives, board members and consultants receive sentences ranging from fines to six months in prison. The court in Bülach near Zurich on Thursday also awarded around…
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.