SWISS COURT ORDERS JULIUS BAER BANK TO PAY 150 MILLION FRANCS FOR MISSING EAST GERMAN FUNDS

On 26 September, Jurist reported that the Federal Supreme Court of Switzerland has ordered Julius Baer & Co Ltd (as the successor of the Cantrade Private Bank Switzerland), must pay CHF 150 million to the German government in a case which stems from an ongoing investigation by the Federal Agency for Unification-related Special Tasks into East German cash that vanished after the fall of the Berlin Wall.  Cantrade allowed unauthorized withdrawals in 1990 and 1992 from the account of a foreign trade company established in East Germany. 

https://www.jurist.org/news/2020/09/switzerland-court-orders-julius-baer-to-pay-150m-to-german-government-for-missing-east-german-funds/

I had left off this link (as it did not seem to generate much interest!), but it seemed time to add it again and say that, if you would like to make a (polite) gesture and help me with my removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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