Federal Administrative Court Bonuses of former Credit Suisse managers may not be reduced
The reduction or even elimination of bonuses for the top three management levels of Credit Suisse ordered by the Federal Department of Finance (FDF) was unlawful. The Federal Administrative Court has upheld the joint appeal of twelve affected parties.
13.05.2025, 19:42
SDA
The bonuses reduced by the FDF were bindingly guaranteed claims by the employer arising from an employment contract. Such claims are protected by the guarantee of ownership. This was stated by the Federal Administrative Court in a ruling published on Wednesday. The guarantee of ownership is guaranteed in the constitution. The legal basis required for a serious encroachment on such claims is lacking.
The Banking Act does not contain such a basis. The law only provides that measures are possible for the duration of the state aid claimed. All state aid to the bank had ended by August 11, 2023 at the latest. However, the FDF had ordered the bonuses of the employees concerned to be cut definitively and thus beyond the duration of the state aid.
