Facts
The State of Belgium, the Société Fédérale de Participations et d'Investissement SA and SA Zephyr-Fin filed appeals against the orders of the SAirLines liquidators, by which their claims were not considered in the collocation plan. The appeals were dismissed by the cantonal supervisory authorities and ultimately by the Federal Supreme Court.Considerations
The Federal Supreme Court decided that, in accordance with the principle of territoriality, the liquidators in Switzerland are responsible for determining the creditors participating in the liquidation proceeds and their ranking. The pending proceedings in Belgium regarding the disputed claims of the appellants are not decisive for the Swiss collocation procedure. The Lugano Convention does not provide a basis to restrict the sovereign competence of the Swiss bankruptcy…