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2021 will mark the 20th anniversary of Swissair’s grounding. Swissair’s liquidator has reached an agreement with former managers of the airline.
Almost 20 years after the fall of Swissair, the old bosses hit the box. Swissair’s liquidator has struck a deal with former managers of the airline, which collapsed in 2001.
The boards of directors of the four companies SAirGroup, SAirLines, Swissair and Flightlease jointly pay 2.75 million francs to the real estate companies. Among them are Mario Corti, former CEO and Chairman of the Board of Directors of SAirGroup and former director of Swissair, Philippe Bruggisser.
The liquidation bodies had re-examined the claims against the bodies, it said in a circular to creditors on Friday. In doing so, they concluded that the chances of successfully enforcing more claims were very small.
Most recently, in late 2019, they ruled before the Federal Supreme Court with a liability lawsuit against 14 responsible individuals at Swissair and SAirGroup. The Swissair trustee had alleged damages of some 280 million francs, for which the defendants should be jointly and severally liable.
These former executives are now part of the current comparison.
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