Dismissal of the complaint against the imposition of negative interest rates on a current account with a deposit and consignment office

Facts

The company A. AG in composition liquidation deposited the debtor's assets in bankruptcy with the Zuger Kantonalbank, as the cantonal deposit and consignment office. By letter dated May 19, 2015, the Zuger Kantonalbank informed the liquidators that a negative interest rate of 0.75% p.a. would be applied to the assets of A. AG in composition liquidation on the current account as of June 1, 2015. The liquidators filed a complaint with the cantonal supervisory authority for debt enforcement and bankruptcy, requesting the annulment of the decision of the Zuger Kantonalbank. However, the High Court of the Canton of Zug refused to consider the complaint. A. AG in composition liquidation then appealed to the Federal Tribunal.

Considerations

The Federal Tribunal considers that the determination of the interest rate on the current account by the deposit and consignment office does not constitute a decision of an enforcement authority within the meaning of Art. 17 DEBA, which…