Latest news with #FederalAdministrativeCourt
DW
3 hours ago
- Politics
- DW
German police say AfD membership incompatible with service – DW – 06/10/2025
Skip next section German court to hear case on right-wing extremist magazine ban 06/10/2025 June 10, 2025 German court to hear case on right-wing extremist magazine ban The Federal Administrative Court in Leipzig is set to hear a case regarding the ban on the right-wing extremist magazine Compact. In August, the Federal Administrative Court temporarily lifted the ban on the magazine, which was issued by Federal Interior Minister Nancy Faeser (SPD). The court expressed particular doubts about the ban's proportionality. This allowed the magazine, which was based in Brandenburg at the time, to resume publication under certain conditions. The Interior Ministry first banned Compact in mid-July, describing the publication as a "central mouthpiece of the right-wing extremist scene." In response, Compact filed a lawsuit and an urgent motion against the immediate enforcement of the ban. The final decision is now pending in the main proceedings.
Reuters
23-05-2025
- Business
- Reuters
Swiss to appeal decision on Credit Suisse bonus payments
BERLIN, May 23 (Reuters) - The Swiss government on Friday announced it will appeal a court decision that found the reduction or cancellation of variable bonus payments for former members of failed banking giant Credit Suisse management was unlawful. Credit Suisse collapsed in March 2023 and was taken over by its longstanding rival UBS (UBSG.S), opens new tab in an operation orchestrated by Swiss authorities. Acting upon the government's instructions, the finance ministry in May 2023 ordered Credit Suisse to reduce or scrap outstanding bonus payments for the bank's bosses. The finance ministry now said that the Federal Administrative Court's interpretation of the legal basis in its decision last week "failed to take key aspects into account, in particular by not considering the exceptional circumstances leading up to the takeover of Credit Suisse, which the legislator would not have been able to foresee".
Business Times
14-05-2025
- Business
- Business Times
Swiss court rules Credit Suisse bonus cuts were unlawful
[ZURICH] A top Swiss court has ruled that the Swiss government's reductions and cancellations of bonus payments to former executives of Credit Suisse after the bank failed in 2023 were unlawful, according to the ruling published late on Tuesday (May 13). The bonus measures affected around 1,000 people, some of whom challenged the decision with Switzerland's Federal Administrative Court, which upheld their appeal. 'The variable remunerations reduced by the (Swiss finance ministry) were binding, employer-guaranteed claims deriving from a contractual employment relationship,' the court said. 'Such contractual claims are protected by the guarantee of ownership.' The ruling may be appealed to the Federal Supreme Court, the court said in a statement. The finance ministry said it would analyse the ruling and consider lodging an appeal to the Supreme Court. Credit Suisse collapsed in March 2023 and was taken over by its longstanding rival UBS in an operation orchestrated by Swiss authorities. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Acting upon the instructions of the federal Cabinet, the finance ministry in May 2023 ordered Credit Suisse to reduce or scrap outstanding bonus payments for the bank's bosses. UBS, which would have to pay out any restituted bonuses, said it took note of the court's decision. The court's decision is likely to be closely watched by other parties affected by the demise of Credit Suisse. In the aftermath of the bank's collapse, Swiss financial market regulator FINMA wrote down about US$17 billion of Credit Suisse's Additional Tier 1 (AT1) debt, angering bondholders. A number of bondholders have since filed lawsuits against Switzerland seeking compensation for their losses. REUTERS
RTÉ News
14-05-2025
- Business
- RTÉ News
Swiss court rules Credit Suisse bonus cuts were unlawful
A top Swiss court has ruled that the Swiss government's reductions and cancellations of bonus payments to former executives of Credit Suisse after the bank failed in 2023 were unlawful, according to the ruling published last night. The bonus measures affected around 1,000 people, some of whom challenged the decision with Switzerland's Federal Administrative Court, which upheld their appeal. "The variable remunerations reduced by the (Swiss finance ministry) were binding, employer-guaranteed claims deriving from a contractual employment relationship," the court said. "Such contractual claims are protected by the guarantee of ownership." The ruling may be appealed to the Federal Supreme Court, the court said in a statement. The finance ministry said it would analyse the ruling and consider lodging an appeal to the Supreme Court. Credit Suisse collapsed in March 2023 and was taken over by its longstanding rival UBS in an operation orchestrated by Swiss authorities. Acting upon the instructions of the federal cabinet, the finance ministry in May 2023 ordered Credit Suisse to reduce or scrap outstanding bonus payments for the bank's bosses. UBS, which would have to pay out any restituted bonuses, said it took note of the court's decision. The court's decision is likely to be closely watched by other parties affected by the demise of Credit Suisse. In the aftermath of the bank's collapse, Swiss financial market regulator FINMA wrote down about $17 billion of Credit Suisse's Additional Tier 1 (AT1) debt, angering bondholders. A number of bondholders have since filed lawsuits against Switzerland seeking compensation for their losses.
Yahoo
14-05-2025
- Business
- Yahoo
Swiss court rules that Credit Suisse bonus cuts were unlawful
ZURICH (Reuters) -A top Swiss court has ruled that the Swiss government's reductions and cancellations of bonus payments to former executives of Credit Suisse after the bank failed in 2023 were unlawful, according to the ruling published late on Tuesday. The bonus measures affected around 1,000 people, some of whom challenged the decision with Switzerland's Federal Administrative Court, which upheld their appeal. "The variable remunerations reduced by the (Swiss finance ministry) were binding, employer-guaranteed claims deriving from a contractual employment relationship," the court said. "Such contractual claims are protected by the guarantee of ownership." The ruling may be appealed to the Federal Supreme Court, the court said in a statement. The court's decision is likely to be closely watched by other parties affected by the demise of Credit Suisse, which collapsed in March 2023 and was taken over by rival UBS in an operation orchestrated by Swiss authorities. As part of that process, Swiss financial market regulator FINMA wrote down about $17 billion of Credit Suisse's Additional Tier 1 (AT1) debt, angering bondholders. A number of bondholders have since filed lawsuits against Switzerland seeking compensation for their losses. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
