With the increase of the Swiss Franc to the EUR (according to the Universal Currency Converter the exchange rate today in the morning is 1 EUR = 1.00078 CHF), we may ask if this has consequences for the Swap 4175 trial.
We recapitulate that in this swap 4175, Linz agreed to pay an annual interest rate of (1.54 - FX)/FX with FX being the exchange rate between CHF and EUR. With the current situation of markets, this would mean an interest rate of 53.88 percent.
Now the good news for Linz: With the claims and counterclaims formulated in 2011, the swap was closed and market changes thereafter do not influence the sum to be disputed at court.
I will write on the bad news tomorrow.
