Facts
In August 1993, Bank L. (hereinafter: the claimant) established business relations with C. GmbH in Klagenfurt (Austria). Through fraudulent acts of D. - the manager of C. GmbH - which need not be elaborated on here, the claimant allegedly suffered a loss of approximately CHF 35 million. A portion of the misappropriated funds was allegedly transferred to accounts of C. Ltd. (Bahamas) (hereinafter: the defendant). D. was sentenced by the Supreme Court of the Republic of Austria to eight years' imprisonment for the offenses attributed to him. By seizure order of 16 December 1993, the President of the District of Chur seized, in favor of the claimant and at the expense of the defendant, all assets held with Bank E. in Chur, as security for the claimant's claim of ATS 40 million plus interest. By application of 20 January 1995, the claimant requested the District Court of Plessur to order the defendant to pay CHF 400,000 plus interest. By judgment of 8 December 1995, the District Court of Plessur dismissed the claim. An appeal filed by the claimant was partially upheld by the Cantonal Court of Grisons in a judgment of 5 March 2001, which ordered the defendant to pay CHF 305,392.60 plus interest. By appeal of 26 October 2001, the defendant requested the Federal Supreme Court to annul the judgment of the Cantonal Court of 5 March 2001 and to dismiss the claim. The Federal Supreme Court partially upheld the appeal, annulled the contested judgment and remanded the case to the previous instance for a new decision in accordance with the considerations.Considerations
The Federal Supreme Court held that liability arising from the principle of transparency in international matters is governed by the law applicable to the company (Art. 154 et seq. PILA). In the present case, the law…