Facts
Bank B. S.A., headquartered in Athens, is the legal successor of Bank C. S.A., whose legal predecessor was Bank D. S.A. E. was the majority shareholder in 2009 and the Chairman of Bank D. S.A. from 2010 to 2011. Bank B. S.A. initiated civil and criminal proceedings against E. as he allegedly exerted unlawful influence on the lending practices of Bank D. S.A.
At the request of Bank C. S.A., the District Court of Athens ordered measures on June 12, 2013 to secure the civil claims of Bank C. S.A. against E. The court in Athens issued a "seizure/attachment" ("Conservatory attachment") of movable and immovable property in the possession of E. or third parties.
By judgment of the District Court of Zurich dated April 24, 2015, the Greek protective order was declared enforceable in Switzerland based on the Lugano Convention (LugC). On June 2, 2015, Bank B. S.A. obtained an attachment order from the District Court of Zurich as an enforcement or protective measure pursuant to Art. 47(2) LugC. The attachment order was executed on June 8, 2015, whereby, among other things, an account held by A. AG at Bank I. SA was attached.
Considerations
The Federal Supreme Court notes that foreign provisional measures can generally be recognized and declared enforceable under the LugC. Since the Greek protective order of June 12, 2013 was declared enforceable in Switzerland, this gives the respondent (Bank B. S.A.) the authority to demand measures aimed at securing the enforceable order.
The Federal Supreme Court considers it permissible that the respondent has obtained the attachment of certain assets as a protective…