Syrian Central Bank's Complaint Against Inclusion On Switzerland's Sanction List Refused

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Rihm Attorneys at law is a Swiss law practice with an international outlook and counseling focus around all aspects of entrepreneurship. For more than 30 years, the firm has advised and represented companies and entrepreneurs in complex transactions and restructurings, including technology transfer as well as in state court, arbitration and insolvency proceedings including mediation proceedings. Based in the centre of Zurich nearby Paradeplatz, Rihm Attorneys at law can draw upon a well-established global network of correspondent law firms in all major business centers. Through one of its partners, Prof. Dr. Karl Pilny, the firm has recently acquired a longstanding Asian practise. Our working languages are German, English, French, Italian, Japanese, Turkish, Serbo-Croatian and Albanian. According to Chambers, Best Lawyers and Who's Who Legal, Rihm Attorneys at law is leading in the fields of M&A, insolvency and employment & compensation benefits laws.
The Syrian Central Bank's complaint against its inclusion into Switzerland's sanction list relating to Syrian organizations and individuals is not admissible.
Switzerland Finance and Banking
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The Syrian Central Bank's complaint against its inclusion into Switzerland's sanction list relating to Syrian organizations and individuals is not admissible. The Swiss Federal Supreme Court ruled last week not to take the central bank's complaint against a decision of the Swiss Federal Administrative Court, which rejected the removal of the central bank from the list of sanctions. In May 2011, Switzerland adopted the pertaining sanctions issued by the European Union, amongst them against the Syrian Central Bank, whose assets deposited in Switzerland were subsequently blocked. The Swiss sanction list was revised in June 2012, but continued to name the Syrian Central Bank. In 2014, the Swiss Federal Administrative Court dismissed the central bank's complaint requesting a removal from the sanction list.

"The Swiss Federal Supreme Court declared the central bank's complaint inadmissible as the blocking of its assets concerns the foreign affairs of Switzerland."

In a public hearing held last week, Swiss Federal Supreme Court declared the bank's renewed complaint as inadmissible as the blocking of its assets concerns the foreign affairs of Switzerland. A complaint would have only been admissible if the Syrian Central Bank had a pertaining treaty claim.

"The Syrian Central Bank argued a treaty claim under Art. 6 of the European Convention on Human Rights"

According to the Swiss Federal Supreme Court, this restriction should have applied as well to a complaint procedure before the Federal Administrative Court. The Syrian Central Bank argued a treaty claim under Article 6 of the European Convention on Human Rights which provides a general right to a judicial review of all civil rights. This treaty claim is however, limited to individuals and non-governmental organizations, whilst the Syrian Central Bank was clearly a governmental organization. The Syrian Central Bank also pleaded its state sovereignty and immunity rights which were not either heard by the Swiss Federal Supreme Court.

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Syrian Central Bank's Complaint Against Inclusion On Switzerland's Sanction List Refused

Switzerland Finance and Banking
Contributor
Rihm Attorneys logo
Rihm Attorneys at law is a Swiss law practice with an international outlook and counseling focus around all aspects of entrepreneurship. For more than 30 years, the firm has advised and represented companies and entrepreneurs in complex transactions and restructurings, including technology transfer as well as in state court, arbitration and insolvency proceedings including mediation proceedings. Based in the centre of Zurich nearby Paradeplatz, Rihm Attorneys at law can draw upon a well-established global network of correspondent law firms in all major business centers. Through one of its partners, Prof. Dr. Karl Pilny, the firm has recently acquired a longstanding Asian practise. Our working languages are German, English, French, Italian, Japanese, Turkish, Serbo-Croatian and Albanian. According to Chambers, Best Lawyers and Who's Who Legal, Rihm Attorneys at law is leading in the fields of M&A, insolvency and employment & compensation benefits laws.
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