Facts
Bankrupt since January 18, 1993, [H.] filed a composition request on November 16, 1993, the same day that several properties of the bankruptcy estate were sold by private agreement. On November 30, the bankruptcy administrator informed [H.] that he was still awaiting the precise dividend offer announced and that as long as the guarantee was not provided, the realization of the properties would continue. [H.] finally communicated his detailed proposal on December 6, but the promised amount was neither available nor guaranteed on January 17, 1994. Seized by the bankrupt's appeal, the Federal Tribunal dismissed it to the extent that it was admissible.Considerations
The Federal Tribunal considered that the mere filing of a composition request is not sufficient to suspend the ongoing realization measures. In this case, the request filed on November 16, 1993 did not meet the substantive conditions of a composition proposal within the meaning of Art. 293 of the Debt Collection and Bankruptcy Act, as it did not contain any precise offer and was presented on the same day as the contested sale, i.e. about ten months after the opening of the summary bankruptcy proceedings. The Tribunal therefore ruled that in these circumstances, a suspension of the realization procedure was in no way necessary and that the appellant did not demonstrate having an interest worthy of consideration in this regard.
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