Liability of the governing bodies of the pension institution for the management of assets

Facts

The X. AG Pension Foundation in liquidation has brought an action for liability against L., chairman of the foundation board, and H., member of the foundation board, for a loss of CHF 474,034.20 suffered due to unsecured investments with the bankrupt founding companies. The Administrative Court of the Canton of Appenzell Outer Rhodes held L. and H. jointly and severally liable for CHF 155,811 and CHF 135,848 respectively, plus interest. Both have appealed against this decision.

Considerations

The Federal Insurance Court has considered that the cantonal court has ruled correctly. The governing bodies of the pension institution, in this case the foundation board, are liable for intentional or negligent damage caused to the institution, pursuant to Art. 52 OPA. This liability applies regardless of the legal form of the pension institution and also includes the supplementary benefits. The conditions for liability are met: - L. and H. had the status of governing bodies of the institution, as chairman and member of the foundation board. - A loss of CHF 474,034.20 was suffered, of which CHF 155,811 was claimed. - The conduct of the…