The Zurich Court of Appeal, as the court of second instance, has dismissed the claim against Julius Baer in the case of the Bundesanstalt für vereinigungsbedingte Sonderaufgaben (BvS) versus Julius Baer.
In 2005, Julius Baer acquired former Bank Cantrade Ltd. through the acquisition of Bank Ehinger & Armand von Ernst Ltd. from UBS AG.
As previously disclosed, in September 2014 the BvS initiated legal proceedings in Zurich against Julius Baer as successor of former Cantrade for an amount of CHF 97 million plus accrued interests since 1994. BvS argues to be the competent German authority to claim alleged unauthorised...
