Facts
The Personnel Welfare Foundation (PFS) was a registered pension fund. G. was a member of the Foundation Board and B. was the Chief Financial Officer of the founding company X. AG. The supervisory body of the PFS was the firm D. AG (since 2006: H. AG) from 1992 to 1994. After the bankruptcy of X. AG, the PFS in liquidation filed a lawsuit against G., B. and H. AG for damages.
The Cantonal Court of Basel-Landschaft dismissed the claim against B. and H. AG. The PFS in liquidation and the BVG Security Fund Foundation appealed against this decision.
Considerations
The Federal Supreme Court dismissed the appeal. It concluded that the supervisory body H. AG could not be accused of any breach of duty in connection with the operating loss from the acquisition of the property Y. The investment was not established by H. AG itself, and the mere fact that the restriction regulations were almost exhausted cannot be described as acting on the edge of legality.
However, the Federal Supreme Court wrongly denied any breach of duty by H. AG with regard to the unsecured current account receivable…