Facts
In an attachment proceeding, a 50 percent co-ownership share of the debtor in a bearer bond was attached. The creditor assumed that the bearer bond was in the custody of Zeuxis Immobilien AG in Zurich. However, Zeuxis Immobilien AG refused to provide the debt collection office with information about the location of the security.
Zeuxis Immobilien AG only filed a complaint against the enforcement of the attachment four months later and claimed the lack of local jurisdiction of the debt collection office. The High Court of the Canton of Zurich lifted the enforcement of the attachment, as it had been carried out by a debt collection office that lacked local jurisdiction.
The creditor appealed this decision to the Federal Supreme Court.
Considerations
The Federal Supreme Court overturned the decision of the High Court and ruled that Zeuxis Immobilien AG's complaint should not be considered. The court reasoned that as the pledgee, Zeuxis Immobilien AG would have been able to provide information about the location of the bearer bond without any difficulty. Its refusal to provide this information was considered an abuse of rights.
The Federal Supreme Court stated that abuse of rights, i.e., a violation of the…