EUPillar LG Frankfurt a.M., 31.3.2014

Summary

The parties argued about damage claims. The claimant brought an action against the State of Greece because of unfulfilled claims regarding the violation of property and pos-session. His securities had been exchanged by securities reduced in value. The claimant had unsuccessfully claimed back the securities. It was doubtful whether German courts had international jurisdiction. The court held that Brussels I pursuant to Art. 1 applied to the case. It was relevant that the action of the State of Greece at least was directly connected to the issuing of bonds. This was an activity which could be carried out by a private person as well. Therefore the action wasn’t excluded from the scope of application of Brussels I. It is doubtful whether the international jurisdiction of German courts could be assumed in the case. The principle of State Immunity in general is contrary to the jurisdiction of national courts if a decision on the issue would concern the execution of sovereign power of a State. The present case concerns an offer which had been made by the Greek state. This offer was based on a law adopted by the Greek parliament. It is doubtful whether this fact opposed the application of Brussels I in the present case. The Federal Court of Justice will rule on this issue in March 2016.