Decision on the Admissibility of the Claims of the Housing Cooperative B.________ in the Bankruptcy of the Housing Cooperative A.________

Facts

The Housing Cooperative [B.] is the owner of properties on which bearer bonds with mortgage deeds are encumbered. In the bankruptcy of the Housing Cooperative [A.] , the Housing Cooperative [B.] was collated with a claim of 2.6 million Swiss francs, which is secured by mortgage deeds in the 2nd and 3rd rank. [N.K.] and [O.K.] have filed a complaint against this collocation and request that the claim of the Housing Cooperative [B.] not be admitted or at least be collated as an unsecured claim in the third class.

The lower instances have affirmed the piercing of the corporate veil with regard to [X.] , who is said to have controlled the housing cooperatives. As a result, the mortgage security of the claims of the Housing Cooperative [B.] was not admitted, and they were collated in the third class.

Considerations

The Federal Supreme Court confirms the assumption of the piercing of the corporate veil. [X.] had a controlling position over the Housing Cooperative [B.] and the bankrupt Housing Cooperative [A.] . The agreement of 22 December 1992, in which the Housing Cooperative [A.] secured claims of the Housing Cooperative [B.] by bearer bonds with mortgage deeds, was dictated by [X.] . Thereby, [X.] had abused the legal independence of the housing cooperatives in order to limit the access of creditors to the assets. The Federal Supreme Court…