Facts
Friedrich Jahn, the owner of the Wienerwald Group, received the composition moratorium on September 15, 1982, and the court confirmation of the composition agreement with assignment of assets on April 25, 1983. During the proceedings, Jahn passed away, and his heirs, [A.] and [B.], became his legal successors. The collated claims could be fully settled, and a surplus of assets of around 7 million Swiss francs remained. The liquidator, together with the creditors' committee, decided to use this surplus to repay the interest claims of the composition creditors for the period between September 15, 1982, and the payment of the collated claims. [A.] and [B.] unsuccessfully challenged this provisional distribution list with the cantonal supervisory authorities and ultimately filed a complaint with the Federal Supreme Court.
Considerations
The Federal Supreme Court dismisses the complaint, insofar as it is admissible. It states that in the law of composition agreements, there is a basis for paying accrued interest from the liquidation proceeds after the composition moratorium has been granted. This applies in particular if the liquidation results in a surplus of assets. The legal regulation in Art. 21 para. 2 VNB and Art. 297 para. 3 SchKG is of a dispositive nature, so that the composition agreement can regulate the issue of interest-bearing differently. Since the present composition agreement does not contain an express interest clause that stipulates a waiver of interest in the event of a surplus of assets, the interest claims of the…