Facts
Hans Weyeneth and Johann Flückiger, who operated a cinema and a financial business respectively, provided financial assistance to the heavily indebted Eos Film AG during the months of February to May 1948. They had the Eos Film AG issue bills of exchange with forged acceptances and had these bills discounted by banks. In doing so, they only paid the Eos Film AG amounts that were 10-20% below the bill amounts. Weyeneth and Flückiger knew that the Eos Film AG was in distress and only entered into the transactions because it urgently needed to raise money.
On September 29, 1948, the Eos Film AG was declared bankrupt.
Considerations
The Federal Supreme Court decided that a legal entity such as the Eos Film AG can be a victim of usury under Art. 157 para. 1 of the Swiss Criminal Code. A state of distress within the meaning of this provision can also affect a legal entity, regardless of whether the obligation to report capital loss and over-indebtedness has been fulfilled.
The fact that the bills contained forged acceptances does not preclude usury. The decisive factor is that the appellants promised and granted the Eos Film AG financial advantages that were clearly disproportionate to the services rendered. An annual interest rate of 60% or…