Facts
[X.] (the Appellant), a Swiss collective management organisation for copyrights in audiovisual works, filed a tort claim against its main bank, [Y.] (the Respondent). It claimed that the bank had breached its information, warning and duty of care obligations in connection with the acquisition of a structured product (CPU Plus) that caused a high loss after the bankruptcy of the issuer Lehman Brothers.
The Commercial Court of Zurich dismissed the tort claim, as it did not see any breach of the mentioned obligations by the bank. The Appellant then filed an appeal with the Federal Supreme Court.
Considerations
The Federal Supreme Court confirmed the decision of the Commercial Court. It stated that the bank had not breached its information obligations under the CO, as the issuer risk was considered a "usual risk" that did not require disclosure. The bank had also not breached its duty to provide information under the mandate law, as the Appellant was aware of the issuer risk due to its experience with bonds.
Furthermore, the Federal Supreme Court denied a breach of the duty of care in the selection of…