Dismissal of an appeal by a former director against the blocking of his management account by the bank moratorium commissioners

Facts

The Geneva Bank of Commerce and Credit obtained a one-year moratorium on 26 April 1965. The moratorium commissioners then decided to block the assets of all former and current directors and members of the bank's management. Lawyer Jean Humbert, former honorary president and member of the board of directors, requested the unblocking of one of his securities accounts, designated as the "Management Account", on the grounds that the securities belonged to one of his clients. The commissioners refused, invoking a right of set-off, pledge or retention. Humbert appealed this decision to the cantonal moratorium authority, which dismissed his appeal. Humbert then brought the case before the Federal Tribunal.

Considerations

The Federal Tribunal dismisses the appeal. It considers that the commissioners have the right to take measures to safeguard the bank's civil liability claims against its former directors, but that these measures cannot exceed the exercise of the powers that civil law confers on the bank. Thus, the commissioners can invoke set-off, exercise a right of pledge or retention, but cannot order a disguised sequestration.

Regarding the "Management" account held by Humbert, the Federal Tribunal notes that Humbert acted as a fiduciary owner on behalf of a client. Therefore, the…