IMPACT OF BREXIT ON ASSET RECOVERY IN SWITZERLAND11 March 2021 By Matthias Gstoehl, Pierre-Yves Marro
In a judgment of 24 February 2021, a Swiss court dealt for the first time with the impact of Brexit on asset recovery in Switzerland. The Swiss court dismissed an application for the declaration of enforceability of an English judgment of September 2020 and the granting of a corresponding attachment order. Departing from the assessment of the Federal Office of Justice, the Court ruled that any application after 2020 is outside of the scope of the Lugano Convention, regardless of when the English judgment was handed down.
This contribution assesses the legal reasoning of the judgment and examines the implications on asset recovery in Switzerland.
The full article is available here.