Facts
A bank (the plaintiff) had granted a loan to an Austrian company (R. GmbH) and had been granted a retention of title on machines and tools purchased by the latter. These assets were then transferred to Switzerland and ended up in the bankruptcy estate of another company (the defendant, X. AG). The bank claimed ownership of these assets in the bankruptcy, but its claim was rejected by the cantonal authorities on the grounds that the retention of title had not been registered in the Swiss register provided for this purpose, in accordance with Art. 715 para. 1 CC.Considerations
According to consistent case law of the Federal Tribunal, registration in the Swiss register of retention of title agreements is a matter of public policy. Thus, a retention of title constituted abroad loses its validity in Switzerland after the expiry of the three-month period provided for in Art. 102 para. 2 PILA.
In the context of a claim for revendication in bankruptcy proceedings, the third-party claimant bears the burden of proving the existence of a valid retention of title. In the present case, the bank was unable to…