Republic of Croatia v. Girocredit Bank A.G. der Sparkassen

The National Bank of the Socialist Federal Republic of Yugoslavia (SFRY) had invested funds in Austria through contracts with Girocredit Bank (defendant). After the SFRY dissolved into Croatia, Macedonia, Slovenia, Bosnia-Herzegovina, and the Federal Republic of Yugoslavia (FRY), Croatia and other successor states (plaintiffs) asked Girocredit to freeze the SFRY's assets pending a joint decision on their disposition, but Girocredit refused after the FRY's national bank claimed to be the sole successor to the SFRY's bank. The plaintiffs sued to stop Girocredit from unilaterally disposing of the assets, prevailed in the lower courts, and the Austria Supreme Court granted review.