Franz Schwarz Named Litigator of the Week After Leading Swatch Group to Victory Over Tiffany & Co.

Franz Schwarz Named Litigator of the Week After Leading Swatch Group to Victory Over Tiffany & Co.

News

On December 21, 2013 the firm's International Arbitration Group, led in the case by Partner Franz Schwarz, obtained a significant victory for its client Swatch Group in an international arbitration against Tiffany & Co. The tribunal found that Tiffany had breached a long-term cooperation agreement with Swatch Group, that those breaches were material and that Swatch Group was entitled to prematurely terminate the cooperation. The tribunal proceeded to award Swatch Group lost profits in the amount of approximately $450 million, plus costs and interest, and it dismissed counterclaims by Tiffany for $500 million.

The decision has attracted global news coverage, from the US to the UK (click here for Wall Street Journal, New York Times, and the Financial Times) to Germany and Switzerland (click here for Der Spiegel and Frankfurter Allgemeine Zeitung) and elsewhere, and has earned Mr. Schwarz the American Lawyer magazine's esteemed title of Litigator of the Week for this critical victory for Swatch Group.