Facts
The Swiss Confederation, represented by the Federal Tax Administration (FTA), had obtained a composition agreement with Steimer SA providing for the payment of a 30% dividend to unsecured creditors, payable in full on March 15, 1982. However, the FTA did not receive the dividend due on its claims, amounting to a total of 44,297 francs. After sending two unsuccessful formal notices to Steimer SA, the FTA requested the revocation of the composition agreement, invoking Article 315 of the Federal Act on Debt Collection and Bankruptcy (DEBA).
The President of the District Court of Morges granted the FTA's request and revoked the composition agreement as far as it was concerned. Steimer SA appealed this decision to the Bankruptcy Court of the Vaud Cantonal Tribunal, which upheld the appeal and reformed the decision of the first judge, such that the composition agreement was not revoked as far as the FTA was concerned.
The FTA then filed a public law appeal with the Federal Tribunal against the judgment of the cantonal court.
Considerations
The Federal Tribunal considers that the interpretation of Article 315 DEBA by the cantonal court is arbitrary. According to case law, the creditor who has not received the dividend provided for in the composition agreement within the specified deadline has the right to request the revocation of the composition agreement as far as it is concerned, without the late payment of the dividend before the revocation hearing being able to deprive it of this right.
In the present case, Steimer SA did not pay the dividend within the deadline provided for in the composition agreement, nor even within…