Questione giuridica chiave
Whether the Etzelwerk concession and its supplementary agreements created a reversion right at the end of the renewed concession period.
Decisione estratta
The concession, interpreted according to its wording, context, history, and purpose, granted a reversion right only if the concession was not renewed after the first 50 years; it did not extend to the end of the renewed period.
Motivazione estratta
The court found no proven common subjective intent supporting a later reversion right. Objectively, the reference to non-renewal after the 50-year term pointed to the initial renewal option in Art. 13. The prior federal judgment of 11 July 1988 supported the view that renewal after the first period was an option for the SBB and that the concession then continued unchanged except for financial terms.