Sabena bankrupcy: Swissair sentenced

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teddybAIR
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Sabena bankrupcy: Swissair sentenced

Post by teddybAIR » 27 Jan 2011, 15:42

De tijd and De Standaard mention that Swissair has been sentenced to pay a fine of 18,3m€ in the Sabena bankrupcy case. Yet, this does not mean that Sabena or the Belgian government will receive their money soon. This process can only be initiated after the entire liability has been estimated!

To be continued...

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sn26567
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Re: Sabena bankrupcy: Swissair sentenced

Post by sn26567 » 27 Jan 2011, 19:54

18,3 M€ ? That's nothing. Swissair has stolen dozens times more from Sabena. Anyway, Swissair doesn't have the money to pay the fine. And the Belgian taxpayer will endure the consequences...
André
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luchtzak
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Re: Sabena bankrupcy: Swissair sentenced

Post by luchtzak » 27 Jan 2011, 21:25

As if nobody knew the outcome of the investigations .... :roll: :roll:

DeltaWiskey
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Re: Sabena bankrupcy: Swissair sentenced

Post by DeltaWiskey » 27 Jan 2011, 21:42

Fwiw, total liability should be somewhere in the neighborhood of 3 billion, but the prosecutor is asking for over 1 billion for the remaining creditors.

Passenger
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Re: Sabena bankrupcy: Swissair sentenced

Post by Passenger » 28 May 2014, 20:53

There are a lot of topics here about Swissair's involvement with the Sabena bankruptcy, but there is an update on one particular case:

SRF Schweizer Radio und Fernsehen today reports that the Swiss Federal Court has ruled against a verdict (2012) from the Zürich High Court, in which a Belgian verdict (2011) against Swissair was declared valid in Switzerland. The Swiss Federal Court now states that a foreign verdict cannot be implemented into a Swiss bankruptcy case.

Karl Wüthrich, liquidator Swissair, states: "Wieviel die Sabena aus dem Swissair-Nachlass fordern dürfe, werde demnach in der Schweiz entschieden, und nicht in Brüssel". Translated: How much Swissair has to pay to Sabena will now be decided in Switzerland and not in Belgium".

Source: SRF:
http://www.srf.ch/news/wirtschaft/vorer ... na-klaeger

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Re: Sabena bankrupcy: Swissair sentenced

Post by Passenger » 08 Jul 2015, 23:51

The Swiss Supreme Court has rejected two claims from the Sabena liquidators against the Swissair liquidators. The Swiss Court rejects a verdict of a Belgian court that a Belgian court may decide on the amount of the indemnity: "must be a Swiss court", the Swiss Supreme Court now ruled.

http://deredactie.be/cm/vrtnieuws/economie/1.2386858

http://www.hln.be/hln/nl/957/Binnenland ... elen.dhtml

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sn26567
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Re: Sabena bankrupcy: Swissair sentenced

Post by sn26567 » 09 Jul 2015, 00:09

Methinks that if the judges of two different countries have opposite views, an international tribunal should take over.
André
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sn26567
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Re: Sabena bankrupcy: Swissair sentenced

Post by sn26567 » 12 Dec 2018, 23:12

Swissair expects to complete its bankruptcy in 2020, 19 years of declaring the proceedings, according to the liquidator.
André
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