Maybe I have found a reproduction recipe:
$ svn --version
svn, version 0.37.0 (r8509)
compiled Jan 25 2004, 22:51:07
Copyright (C) 2000-2004 CollabNet.
Subversion is open source software, see http://subversion.tigris.org/
The following repository access (RA) modules are available:
* ra_dav : Module for accessing a repository via WebDAV (DeltaV) protocol.
- handles 'http' schema
- handles 'https' schema
* ra_local : Module for accessing a repository on local disk.
- handles 'file' schema
* ra_svn : Module for accessing a repository using the svn network protocol.
- handles 'svn' schema
$ svnadmin create test
$ svn co file:///g:/repos/test wc1
Checked out revision 0.
$ mkdir wc1\trunk\dir1
$ mkdir wc1\trunk\dir2
$ mkdir wc1\branch
$ time /t 1>wc1\trunk\readme
$ time /t 1>wc1\trunk\dir1\file1
$ date /t 1>wc1\trunk\dir2\file2
$ svn add wc1/trunk
A wc1\trunk
A wc1\trunk\dir1
A wc1\trunk\dir1\file1
A wc1\trunk\dir2
A wc1\trunk\dir2\file2
A wc1\trunk\readme
$ svn add wc1/branch
A wc1\branch
$ svn ci -m "" wc1
Adding wc1\branch
Adding wc1\trunk
Adding wc1\trunk\dir1
Adding wc1\trunk\dir1\file1
Adding wc1\trunk\dir2
Adding wc1\trunk\dir2\file2
Adding wc1\trunk\readme
Transmitting file data ...
Committed revision 1.
$ svn co -N file:///g:/repos/test/trunk wc2
A wc2\readme
Checked out revision 1.
$ svn cp -m "" file:///g:/repos/test/trunk
file:///g:/repos/test/branch/version1
Committed revision 2.
$ svn up wc1
A wc1\branch\version1
A wc1\branch\version1\dir1
A wc1\branch\version1\dir1\file1
A wc1\branch\version1\dir2
A wc1\branch\version1\dir2\file2
A wc1\branch\version1\readme
Updated to revision 2.
$ time /t 1>wc1/branch/version1/aaa
$ svn add wc1/branch/version1/aaa
A wc1\branch\version1\aaa
$ svn ci -m "" wc1
Adding wc1\branch\version1\aaa
Transmitting file data .
Committed revision 3.
$ svn switch -N file:///g:/repos/test/branch/version1 wc2
A wc2\aaa
Updated to revision 3.
$ svn info wc2
Path: wc2
URL: file:///g:/repos/test/branch/version1
Repository UUID: 11c78db7-53bb-1342-b6a2-cc1656c7f938
Revision: 3
Node Kind: directory
Schedule: normal
Last Changed Author: mk
Last Changed Rev: 3
Last Changed Date: 2004-02-20 21:01:35 +0100 (Fri, 20 Feb 2004)
# looks good for me
$ svn info wc2/readme
Path: wc2\readme
Name: readme
URL: file:///g:/repos/test/trunk/readme
Repository UUID: 11c78db7-53bb-1342-b6a2-cc1656c7f938
Revision: 1
Node Kind: file
Schedule: normal
Last Changed Author: mk
Last Changed Rev: 1
Last Changed Date: 2004-02-20 21:01:31 +0100 (Fri, 20 Feb 2004)
Text Last Updated: 2004-02-20 21:01:32 +0100 (Fri, 20 Feb 2004)
Properties Last Updated: 2004-02-20 21:01:32 +0100 (Fri, 20 Feb 2004)
Checksum: a3c594e1fce2faf94f586f673d755587
# why is this file not switched to the branch??
$ svn info wc2/aaa
Path: wc2\aaa
Name: aaa
URL: file:///g:/repos/test/branch/aaa
Repository UUID: 11c78db7-53bb-1342-b6a2-cc1656c7f938
Revision: 3
Node Kind: file
Schedule: normal
Last Changed Author: mk
Last Changed Rev: 3
Last Changed Date: 2004-02-20 21:01:35 +0100 (Fri, 20 Feb 2004)
Text Last Updated: 2004-02-20 21:01:36 +0100 (Fri, 20 Feb 2004)
Properties Last Updated: 2004-02-20 21:01:36 +0100 (Fri, 20 Feb 2004)
Checksum: a3c594e1fce2faf94f586f673d755587
# note the wrong URL
$ svn switch -N file:///g:/repos/test/branch/version1 wc2 2>&1
svn: File not found: revision '3', path '/branch/aaa'
# files which do not exist cannot be found.
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Received on Sat Feb 21 06:21:53 2004