Dismissal of the appeal against the supervisory authority's dissolution of companies due to unauthorized acceptance of public deposits

Facts

The Filmart AG (in bankruptcy) and the EJK Ostschweiz Immobilien AG (in liquidation) filed an appeal against the judgment of the Federal Administrative Court of December 16, 2008. The Federal Administrative Court had found that Anera AG, Filmart AG, EJK Ostschweiz Immobilien AG, and Blum Trade AG had professionally accepted public deposits and thus violated the BankA. The Swiss Federal Banking Commission (SFBC) had subsequently opened bankruptcy proceedings against Anera AG and Filmart AG and put EJK Ostschweiz Immobilien AG and Blum Trade AG into liquidation.

The appellants claim that they did not accept public deposits and did not act as a group with Anera AG. Filmart AG is not over-indebted and the liquidations are disproportionate.

Considerations

The Federal Court dismissed the appeal, insofar as it could be considered. It found that Anera AG and Filmart AG had professionally accepted public deposits and that EJK Ostschweiz Immobilien AG and Blum Trade AG were part of the group that carried out this activity.

The court also found that Filmart AG was over-indebted and that the supervisory authority's dissolution of the companies was not disproportionate. The financial situation of EJK Ostschweiz Immobilien AG was unclear, which…