Facts
On February 9, 1979, Joseph Belle and Zoltan Deaki initiated enforcement proceedings against Karl Thönen for the realization of a bearer bond for a claim of CHF 260,000 plus 5% interest since January 1, 1977. The debtor raised an objection, whereupon the two creditors applied to the President of the Court of Arlesheim for provisional enforcement. In the course of these proceedings, they submitted the bearer bond to the judge responsible for the provisional enforcement, which had been awarded to them by a final judgment of the Civil Court of Basel-Stadt on May 16, 1983 in a replevin proceeding and handed over to them on August 8, 1983 by order of the President of the Court of Arlesheim in the context of a deposit proceeding. By judgment of October 27, 1983, the creditors were granted provisional enforcement.
On November 9, 1983, Karl Thönen filed an action for annulment against Belle and Deaki with the District Court of Arlesheim, as the defendants had sold the bearer bond to Immoorp AG in Stansstad on November 18, 1983. The District Court dismissed the action by judgment of December 5, 1984, which was appealed by the plaintiff to the High Court of the Canton of Basel-Landschaft and rejected on October 15, 1985.
Considerations
The Federal Supreme Court upheld the contested judgment of the High Court. It concluded that there was no transfer of possession within the meaning of Art. 924 para. 1 of the Swiss Civil Code, as the judge to whom the bearer bond was entrusted for…