Facts
Interfer AG in Zurich established and managed the International Holiday Home Investment Fund Interfer. On November 8, 1967, an extraordinary general meeting of Interfer AG resolved to change the company name to Interfer Verwaltungs-Aktiengesellschaft and to transfer the registered office to Vaduz. By order dated November 23, 1967, the Swiss Federal Banking Commission, as the supervisory authority over the investment funds, obliged Interfer AG to secure the investors' claims by depositing CHF 50,000 in cash or securities with the Zurich Cantonal Bank. On the same day, it revoked Interfer AG's business license. With payment order No. 6755 dated December 6, 1967, it initiated debt enforcement proceedings against Interfer AG for this security deposit.
The bankruptcy judge of the District Court of Zurich found that the debt enforcement against Interfer AG should be continued by way of attachment in analogous application of Art. 43 DEBA. The lower supervisory authority thereupon lifted the bankruptcy threat and instructed the debt enforcement office to continue the debt enforcement by way of attachment. However, the upper cantonal supervisory authority confirmed the bankruptcy threat.
Interfer Verwaltungs-Aktiengesellschaft has appealed the decision of the upper cantonal supervisory authority to the Federal Supreme Court.
Considerations
The Federal Supreme Court states that despite the late filing of the appeal, it is authorized to examine whether the bankruptcy threat was justified. It finds that Interfer AG as a joint-stock company registered in the commercial register is generally subject to bankruptcy proceedings.
Art. 43 DEBA, which the appellant invokes, provides that debt enforcement for taxes, levies, fees, court costs, fines and other public law obligations to public treasuries or officials shall also be carried out against debtors subject to bankruptcy proceedings by way of attachment…