Former Swissair bosses cough up $3.1bn in final settlement

Almost 20 years after the Swissair (SR, Zurich) grounding, a dispute over liability claims has finally been put to rest with 29 former executives agreeing to pay CHF2.7 billion Swiss francs (USD3.1 billion) as part of a final settlement – a fraction of the sums once demanded. After numerous unsuccessful lawsuits, the former executives, without acknowledging any legal obligation and without prejudice, “showed willingness to settle any claims by paying a small amount of money” to the companies in debt restructuring liquidation,...
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