Facts
On August 8, 2006, the State of Belgium, the Société Fédérale de Participations et d'Investissement SA and S.A. Zephyr-Fin (plaintiffs) filed a claim pursuant to Art. 250 para. 1 DEBA against the estate of SAirLines in composition liquidation (defendant) with the District Court of Zurich, single judge in expedited proceedings, and requested the collocation of various claims. The single judge stayed the collocation proceedings. The defendant unsuccessfully challenged the stay up to the Federal Supreme Court.
Considerations
The Federal Supreme Court upholds the appeal. It holds that the judgment to be rendered in Belgium regarding the bankruptcy claims is not binding on the Swiss collocation judge in substantive terms. Therefore, the stay of the collocation proceedings cannot be based on the recognition of the Belgian judgment.
Furthermore, the Federal Supreme Court states that the stay of the collocation…