Facts
Y. and company X. AG concluded a wealth management contract in 1996. In 2000, they signed a mandate and trust contract providing for the creation of a Panamanian foundation, the management of which was entrusted to X. AG. The contract contained an arbitration clause providing that all disputes would be settled by an arbitral tribunal sitting in Zurich. In 2011, Y. filed an action against X. AG before the Commercial Court of the Canton of Zurich, claiming damages and the restitution of the foundation's assets as well as an account of management. X. AG raised an objection to the jurisdiction of the court. The Commercial Court partially upheld this objection, finding that the claims related to the management of the foundation's assets fell within the jurisdiction of the arbitral tribunal. X. AG appealed against this decision.Considerations
The Federal Tribunal upheld the appeal of X. AG. It ruled that, in accordance with its case law, the state court seized of an arbitration objection in favor of a Swiss arbitral tribunal can only examine in a summary manner whether the arbitration agreement excludes its own jurisdiction. Applying this principle, the Federal Tribunal considered that the arbitration agreement, drafted in such a way as to cover…