A. Arrondissements of Prosecution and Bankruptcy ¹

¹ The territory of each canton forms one or more boroughs of debt and bankruptcy administration.

² The cantons determine the number and extent of these districts.

³ The district of bankruptcy can be divided into several boroughs of prosecution.

B. Prosecution and Bankruptcy Offices

1. Organization

¹ Each prosecution district is provided with a prosecution service that is directed by the prosecuting authority.

² Each bankruptcy district has a bankruptcy office that is headed by the bankruptcy officer.

³ A substitute replaces the person who has been disqualified or prevented from running the office.

⁴ The Office of Public Prosecutions and the Bankruptcy Office can be brought together under one direction.

⁵ For the rest, the organization of the offices is the responsibility of the cantons.

2. Compensation

The treatment of attendants and their substitutes is the responsibility of the cantons.

C. Entraide

¹ The prosecution offices and the bankruptcy offices carry out the acts of their jurisdiction at the request of the Offices, the special administrations of the bankruptcy, as well as the Commissioners and liquidators of another district.

² Offices, special authorities of the bankruptcy, commissioners and liquidators may also act on an act of their jurisdiction outside their district, if the office responsible for the place consents. The latter is, however, solely responsible for the notification of acts of prosecution other than by mail, for the seizure, auction and requisition of the public force.

C ^Bis . Procedures with a physical connection

¹ In cases of bankruptcies and proceedings having a material connection, the enforcement bodies, supervisory authorities and the courts involved coordinate their actions to the extent possible.

² The courts of the bankruptcy and the courts of the agreement involved, as well as the supervisory authorities, may, by mutual agreement, designate who, among them, will exercise a single competence for all proceedings.

D. Accountability

1. Principle

¹ The canton is responding to the damage caused by employees, employees, their auxiliaries, the members of the special authorities in the bankruptcy, the Commissioners, the liquidators, the supervisory authorities, the authorities, in an unlawful manner And by force in the performance of the tasks assigned to them by this Law.

² The aggrieved person has no right to the wrong person.

³ The cantonal law rules the action against the authors of the damage.

⁴ Moral compensation is also due when the seriousness of the infringement justifies it.

2. Prescription

¹ The action for damages shall be prescribed by a year of the day on which the injured party became aware of the damage and, in all cases, ten years from the day on which the harmful event occurred.

² However, if the right to damages is the result of a punishable act under the criminal law to a longer period of limitation, that period also applies to the action for damages.

3. Jurisdiction of the Federal Court

Where an action for damages is based on the unlawful act of the cantonal supervisory authority or the superior judge of the concordat, the Federal Court shall have sole jurisdiction.

E. Minutes and Records

1. Maintenance, probative and rectification

¹ The prosecution offices and the bankruptcy offices draw up minutes of their operations, as well as the requisitions and declarations they receive; they keep the records.

² The minutes and records shall be authentic until proven otherwise.

³ The Office of the Prosecution shall ex officio or at the request of a person concerned an incorrect entry.

2. Right of consultation

¹ Any person may consult the minutes and records of the prosecution offices and the bankruptcy offices and issue extracts on condition that it is of reasonable interest.

² This interest is likely in particular where the request for an extract is directly related to the conclusion or liquidation of a contract.

³ Offices should not be aware of third parties:

A.

Nullities as well as those that have been set aside on a complaint or as a result of a judgment;

B.

The prosecution for which the debtor was successful in the repetition of the inducing action;

C.

The proceedings withdrawn by the creditor.

⁴ The right of third party consultation shall lapse five years after the closure of the proceedings. The judicial and administrative authorities may still, in the interests of proceedings pending before them, request the issue of an extract.

F. Deposit of Species and Price Objects

The prosecution and bankruptcy offices are required to record the amounts, values and price objects of which they are not employed within three days at the cash register.

G. Harvesting

¹ No person, employee or member of the supervisory authority may act on an act of his Office in the following cases:

1.

In the case of its own interests;

2. ²

In the case of the interests of the spouse, registered partner or person with whom he or she leads a life of a couple;

2 ^Bis . ³

When it comes to the interests of its parents or allies online or up to the third degree on a collateral line;

3.

In the interests of a person of whom he or she is the legal representative, the agent or the employee;

4.

Where, for other reasons, he or she may have a preconceived opinion in the case.

² The person who must recuse shall immediately forward the requisition to his or her substitute and notify the creditor by simple ply.

H. Prohibited acts

Employees and employees are prohibited from entering into a case involving claims for prosecution or objects to be carried out on their own account. Any act that violates this prohibition is null and void.

I. Payments in the hands of the prosecution office

¹ The prosecution office is required to accept payments made on behalf of the prosecuting creditor.

² The debtor is released by these payments.

K. Supervisory Authorities

1. Cantonals

A. Designation

¹ Each canton appoints a supervisory authority for the prosecution offices and the bankruptcy offices. ¹

² The cantons may also establish lower supervisory authorities for one or more districts.

B. Inspections and disciplinary measures

¹ The Supervisory Authority inspects each office at least once a year.

² The following disciplinary measures may be taken against an employee: ¹

1. ²

Reprimand;

2. ³

The fine up to 1000 francs;

3.

The suspension for up to six months;

4.

Dismissal.

2. Federal Council ¹

¹ The Federal Council shall exercise high supervision in the field of prosecution and bankruptcy and shall provide for the uniform application of this Law. ²

² It enacts the necessary regulations and enforcement orders.

³ It may give instructions to the cantonal monitoring authorities and request annual reports.

⁴ ... ³

⁵ It coordinates the electronic communication between the prosecution and bankruptcy offices, the land registry and the trade register, the courts and individuals. ⁴

L. Emoluments

¹ The Federal Council adopts the tariffs.

² The documents concerning the prosecution and the bankruptcy are exempt from the stamp.

M. Complaint and recourse

1. To the Supervisory Authority

¹ Except where the law prescribes the judicial direction, a complaint may be made to the supervisory authority where a measure of the Office is contrary to the law or does not appear to be justified in fact.

² The complaint must be filed within ten days of the date on which the complainant became aware of the measure.

³ The complaint may also be filed at any time for the denial of justice or unwarranted delay.

⁴ In the event of a complaint, the Office may, until the reply is sent, re-examine the contested decision. If it takes a new step, it notifies the parties without delay and gives notice to the supervisory authority. ¹

2. At higher supervisory authority

¹ Any decision of the lower authority may be referred to the higher cantonal supervisory authority within ten days of its notification.

² A complaint may be filed at any time before the said authority against the lower authority for denial of justice or undue delay.

3. At the Federal Court

The use of the Federal Court is governed by the Act of 17 June 2005 on the Federal Court ² .

4. Time Limits for Foreign Exchange Continuation

As regards the pursuit of foreign exchange effects, the time limit for complaint and appeal is only five days; the authority is required to act within a period of the same period.

5. Procedure before the cantonal authorities ²

¹ ... ³

² The following provisions apply to the procedure before the cantonal supervisory authorities: ⁴

1.

The supervisory authorities must, whenever they act in this capacity, designate themselves as such and, where appropriate, as a lower or higher authority;

2.

The supervisory authority shall observe the facts of its own motion. It may request the parties to cooperate and may declare their findings inadmissible when the parties refuse to provide the necessary assistance that can be expected from them;

3. ⁵

The supervisory authority freely appreciates the evidence; subject to s. 22, it cannot go beyond the parties' conclusions.

4.

The decision is reasoned and indicates the legal remedies; it shall be notified in writing to the parties, the Office concerned and other interested parties;

5. ⁶

Procedures are free of charge. The party or his representative who uses reckless or bad faith processes may be sentenced to a fine of not more than 1500 francs and to the payment of the emoluments and disbursements.

³ For the rest, the cantons regulate the procedure.

6. Decision

Where a complaint is found to be valid, the authority shall cancel or rescind the act which is the object of the complaint, and shall order the conduct of the operations to which the employee unreasonably refuses to proceed or whose performance is delayed.

N. Invalidity of measures

¹ Measures contrary to provisions enacted in the public interest or in the interest of persons who are not party to the proceedings shall be null and void. The supervisory authorities shall take notice of the invalidity irrespective of any complaint.

² The Office can replace a zero measure with a new measure. If a procedure based on para. 1 is pending before the supervisory authority, the Office retains that competence only until its reply.

O. Cantonal Delivery Arrangements

1. Judicial authorities

The cantons shall designate the judicial authorities entrusted with the decision in the matters referred to in this Law to the judge.

2. Deposit balances

The cantons designate the cases of deposits and consignments; they are responsible for the deposits made with the said funds.

3. ...

4. Effects of Public Law on Unsuccessful Seizure and Bankruptcy

¹ As the federal law is not applicable, the cantons may require that the unsuccessful seizure and the opening of the bankruptcy produce effects of public law (such as the inability to carry out public functions, to exercise a public service). Profession or activity subject to authorization). They may not order neither the deprivation of the right to elect or vote nor the publication of acts of default of property.

² These public-law effects are terminated as soon as the bankruptcy is revoked, and all creditors holding an act of default are disinterested or all their claims are prescribed.

³ The public-law effects of the unsuccessful seizure and the bankruptcy are not incurred as a result of the losses that one of the spouses or one of the registered partners, as the sole creditor, has suffered from the head of the other. ²

5. Professional Representation

¹ The cantons may regulate the professional representation of the persons concerned in the enforcement procedure. They may include:

1.

Prescribe that persons who intend to carry out this activity demonstrate their professional abilities and morals;

2.

Require the supply of security rights;

3.

Set the rate of applicable professional representation allowances.

² Any person who has been authorised in a canton to exercise professional representation may apply for authorisation to carry on that activity in any other canton, provided that his professional skills and morality have been verified in such a way that Appropriate.

³ No one may be compelled to use a representative. The costs of representation shall not be borne by the debtor.

P. Information on the cantonal organisation

¹ The cantons shall indicate to the Federal Council the boroughs of prosecution and bankruptcy, the organisation of the offices and the authorities which they have instituted under this Law.

² The Federal Council gives these communications the necessary publicity.

Q. ...

A. Special Enforcement Procedures

¹ This Law shall not apply to enforced execution against the cantons, districts and communes, provided that there are federal or cantonal laws in this respect.

² The provisions of other federal statutes providing for special enforcement procedures are also set aside.

International treaties and private international law

International Treaties and the Provisions of the Federal Law of 18 December 1987 on Private International Law (LDIP) ² Are reserved.

A. Timeliness

1. In general

Except as otherwise provided in this Law, the rules of the Code of Civil Procedure of 19 December 2008 (CPC) ² Apply to the computation and observation of time limits.

2. Observation

¹ ... ²

² The time limit shall be observed when a prosecution office or an incompetent bankruptcy office is seized in good time; the Office shall forward the communication without delay to the competent Office. ³

³ ... ⁴

⁴ In the case of written communications assigned to a repairable, the opportunity must be given to repair them.

3. Change and Check In

¹ Any agreement to amend the time limits of this Act shall be null and void.

² It is possible to grant a longer period or to extend a time limit when a party to the proceedings lives abroad or is assigned by publication. ¹

³ A party to the proceedings may waive the application of a time limit which has not been observed, if it has been instituted exclusively in its favour. ²

⁴ Any person who has been prevented from acting within the time limit may apply to the supervisory authority or the competent judicial authority for the return of that period. The person concerned must, from the end of the impediment, file a reasoned request within a time limit equal to the time limit and make the omitted legal act to the competent authority. ³

A ^Bis . Acts filed in electronic form

¹ Acts may be sent in electronic form to offices and supervisory authorities.

² The document containing the document and the attachments must be certified by the electronic signature of the sender. The Federal Council determines the terms and conditions.

³ Offices and supervisory authorities may require that the act and the annexed documents be produced in the form of paper documents.

Notification

1. In writing and electronically

¹ Communications, measures and decisions of offices and supervisory authorities shall be notified by registered letter or otherwise against receipt, unless otherwise provided for in this Law.

² The notification may be effected by electronic means with the consent of the person concerned. The Federal Council sets the modalities.

2. By Publish

¹ Publications are included in the Swiss Federal Trade Sheet and in the Cantonal Paper. The inclusion in the Swiss Official Gazette of trade is a rule for the putation of time limits and for the consequences of publication. ¹

² If the circumstances so require, the publication may also take place in other sheets or by public crier.

C. Suspensive effect

The complaint, appeal and appeal shall not suspend the decision unless it is so ordered by the authority to be decided or by its President. The parties shall be informed immediately of the suspension.

D. Definitions

¹ The term "mortgage" within the meaning of this Act includes mortgages, mortgage agreements, real estate contracts within the meaning of the former right, land charges, special privileges on certain buildings, and a pledge on the Accessories to a building. ²

² The term "movable pledge" includes the pledge, the commitment of livestock, the right of retention, the pledge of claims and other rights.

³ The term "pledge" alone includes movable and immovable property.

A. Purpose of prosecution and prosecution

¹ Forced execution having as its object a sum of money or security to be provided shall be carried out by the pursuit of debts.

² The prosecution begins with the notification of the command to pay. It continues by way of seizure, embodiing or bankruptcy.

³ The operator determines which mode is to be applied.

B. Pursuing by bankruptcy

1. Scope

¹ The prosecution continues by bankruptcy, or as "ordinary prosecution by bankruptcy" (s. 159 to 176), or as "pursuit for foreign exchange effects" (Art. 177 to 189), where the debtor is registered in the trade register on one of the following qualifications:

1.

Leader of an individual reason (s. 934 and 935 CO ¹ );

2.

Partnership in a partnership (s. 554);

3.

Unlimited liability in a limited partnership (s. 596 CO);

4.

Member of the administration of a limited partnership by shares (s. 765 CO);

5. ²

...

6.

Partnership (s. 552 CO);

7.

Limited partnership (s. 594 CO);

8.

Limited liability company or limited partnership (s. 620 and 764 CO);

9.

Limited liability company (s. 772 CO);

10.

Cooperative corporation (s. 828 CO);

11.

Association (art. 60 CC ³ );

12.

Foundation (s. 80 CC);

13. ⁴ Variable capital investment corporation (s. 36 of the Collective Investment Act of June 23, 2006 (CCPC) ⁵ ;

14. ⁶ Collective investment sponsorship (s. 98 LPCC). ⁷

² ... ⁸

³ The inscription takes date, for the mode of prosecution, the day after the publication in the Official Swiss Trade Sheet ⁹ .

2. Duration of the effects of entry in the trade register

¹ Persons who were registered in the Trade Register and who have been removed from the Register remain subject to bankruptcy within six months of the publication of their deregistration in the The official Swiss trade sheet.

² The prosecution continues by bankruptcy where, before the expiration of that time limit, the creditor has required the continuation of the continuation or the establishment of the command to pay in the case of a foreign exchange proceeding. ¹

C. Prosecution of pledge

¹ Where the pursuit is for a secured claim by pledge, it shall continue with the realization of the pledge (Art. 151 to 158), even against debtors subject to bankruptcy.

^1bis Where a prosecution by way of seizure or bankruptcy is introduced for a secured claim, the debtor may request, by way of a complaint (art. 17), that the creditor first exercises his right in the subject matter of the pledge.

² The pursuit of interest or annuities guaranteed by immovable property is carried out, at the choice of the creditor, either by the making of the pledge or by way of seizure or bankruptcy, depending on the quality of the debtor. The provisions concerning the pursuit of foreign exchange effects are reserved (Art. 177, para. 1).

D. Prosecution by way of seizure

¹ In all other cases, the prosecution continues by way of seizure (art. 89 to 150).

² When a debtor is registered in the trade register, the requisitions to continue the prosecution previously filed against him are executed by way of seizure, as long as he has not been declared bankrupt.

E. Exceptions to the Pursuing of Bankruptcy

In all cases, the bankruptcy proceeding is excluded for:

1.

The collection of taxes, contributions, emoluments, duties, fines or other public-law benefits payable to a public body or official;

1 ^Bis . ² Recovery of premiums from compulsory accident insurance;

2. ³

The collection of periodic maintenance and maintenance contributions arising from family law or maintenance contributions arising from the partnership law of 18 June 2004 ⁴ ;

3.

The creation of security rights.

F. Special provisions reserve

1. Realization of confiscated items

The making of objects confiscated under federal or cantonal laws in criminal or fiscal matters or under the law of 1 ^Er October 2010 on the return of illegal assets ² Operates in accordance with these laws.

2. Fixed Loans

The making of pawnout loans is governed by s. 910 Civil Code (CC) ² .

A. Regular pursuit of prosecution

¹ The court for the prosecution is at the debtor's home.

² Legal persons and companies registered in the register of trade shall be prosecuted at their head office, non-registered legal persons, at the head office of their administration. ¹

³ Each of the indivis can, because of the debts of an indivision who does not have a representative, be sued in the place where they exploit the indivision in common. ²

⁴ The homeowner community is continued at the location of the building. ³

B. Special Continuation Fors

1. For the place of stay

The debtor who does not have a fixed place of residence can be prosecuted at the place where he is located.

2. For prosecution of an estate

As long as the division has not taken place, a contractual indivision has not been established or an official liquidation has not been ordered, the succession shall be continued at the place where the deceased could himself be prosecuted at the time of His death and in the manner in which he was applicable.

3. For prosecution of a debtor domiciled abroad

¹ The debtor domiciled abroad who has an establishment in Switzerland may be prosecuted for the debts of that institution.

² The debtor domiciled abroad, who has elected domicile in Switzerland for the performance of an obligation, may be prosecuted for that debt.

4. For the location of the thing

¹ Where the claim is secured by a pledge of furniture, the prosecution may take place at the place determined by the art. 46 to 50, or at the place where the pledge or part of the pledge is of the highest value. ¹

² Where the debt is secured by mortgage, the prosecution shall be carried out instead of the situation of the immovable, if it relates to several buildings situated in different districts, to the place where the part of the buildings which has the most High value.

5. For the receiver

The prosecution after sequestration may take place at the place where the sequestered object is located; ¹ However, the commination and the requisition for bankruptcy can only be notified to the ordinary.

C. For prosecution in case of change of domicile

If the debtor changes home after the notice of seizure, after the bankruptcy commends or after the notification of the command to pay for foreign exchange effects, the prosecution continues at the same residence.

D. For the bankruptcy of the debtor at large

The bankruptcy of a fugitive debtor is declared instead of his last domicile.

E. The principle of unity of bankruptcy

Bankruptcy cannot be opened at the same time in several places in Switzerland. It shall be deemed to be open where it was pronounced in the first place.

A. Principles

Except in the case of a receiver or urgent provisional measures, no action shall be taken:

1.

In prohibited times, namely between 20 hours and 7 hours, as well as on Sundays and statutory holidays;

2.

During the holidays, that is, seven days before and seven days after the Easter and Christmas holidays, as well as from 15 July to 31 July; there is no public holiday in the event of a continuation for exchange effects;

3.

Where the debtor is for the benefit of the suspension (s. 57 to 62).

B. Suspension

1. In the case of military service, civil service or civil protection ²

A. Duration

¹ A prosecution against a debtor for military service, civil service or civil protection shall be suspended for the duration of that service. ³

² Where the debtor has carried out without any significant interruption at least thirty days of service prior to his dismissal or his or her dismissal, the prosecution shall remain suspended for two weeks following the dismissal or the entry on leave.

³ For periodic maintenance or maintenance contributions arising from family law, the debtor may be prosecuted even during the suspension. ⁴

⁴ Debtors who, by virtue of a working relationship with the Confederation or a canton, perform military service, civil service or civil protection, do not enjoy the suspension. ⁵

B. Information holdings by third parties

¹ Where an act of prosecution cannot be carried out by the fact that the debtor is in the military service, civil service or civil protection, the adult persons in his household and, in the event of notification of the act in a Industrial or commercial establishment, workers and, where appropriate, the employer shall be subject to criminal prosecution (art. 324, c. 5, PC ² ) Indicate to the servant the service address of the debtor and the year of birth. ³

^1bis The attendant draws the attention of the persons concerned to their duties and the criminal consequences of their non-compliance. ⁴

² The competent command shall inform the Office of the Prosecution, if required, when the debtor is laid off or on leave.

³ ... ⁵

C. Real estate security guarantee

¹ The guarantee of the real estate guarantee for the interests (art. 818, para. 1, c. 3, CC ² ) Is extended by the duration of the stay of proceedings against any debtor benefiting from the suspension due to military service, civil service or civil protection. ³

² In the pursuit of the pledge, the command to pay shall be notified also during the suspension provided that the suspension has lasted three months.

D. Inventory

¹ If the debtor benefits from the suspension due to military service, civil service or civil protection, the creditor may request the prosecution office to draw up an inventory which, for the duration of the suspension, has the effects provided for by s. 164. ² The creditor must, however, make it likely that his claim exists and that it is compromised by the actions of the debtor or third parties to favour certain creditors at the expense of others or to disadvantage all creditors.

² The inventory is not inventorted if the debtor provides security rights for the claim of the requesting creditor.

E. Revocation by the judge

The suspension of proceedings as a result of military service, civil service or civil protection may be revoked with immediate effect by the judge of the release of the opposition, on a general basis or for specific claims, at the request of a Creditor that makes it likely: ²

1.

The debtor has withdrawn assets from the action of its creditors or is making arrangements to favour certain creditors to the detriment of others or to disadvantage all creditors, or

2. ³

The debtor, in the case of a military service, civil service or voluntary civil protection, does not need the suspension of proceedings to safeguard its material situation, or

3. ⁴

The debtor performs a military service, civil service or voluntary civil protection in order to avoid his or her commitments.

F. Military service, civil service or civil protection of the legal representative

The provisions relating to the suspension of proceedings shall also apply to persons and companies whose legal representative is in the military service, civil service or civil protection, as long as they are not able to Designate another representative.

2. In case of death

The prosecution of a debtor whose spouse or registered partner, the parent or the direct-line ally or a person who has a common household with the debtor is deceased, is suspended for two weeks from the date of death.

3. For estate debts

¹ The prosecution for debts in an estate is suspended for two weeks from the date of death, as well as during the time allowed to accept or repudiate the estate. ¹

² The prosecution commenced before death may be continued against the estate in accordance with s. 49. ²

³ It shall be continued against the heir only if it is a matter of the making of pledges or if, in a prosecution by way of seizure, the time limits for participation laid down in Art. 110 and 111 have passed.

4. Following imprisonment

Where the prosecution is directed against an inmate who does not have a representative, the person shall give the person a time limit to establish one. ¹ The prosecution remains suspended until the expiration of that period.

5. In the event of a serious illness of the debtor

In the event of a serious illness of the debtor, the attendant may suspend the prosecution for a specified period of time.

6. In the event of an epidemic or public calamity

In the event of an epidemic, public calamity or war, the Federal Council or, with its consent, the cantonal government may order the suspension of proceedings over a portion of the territory or for the benefit of certain categories of persons.

C. Effects on the course of time

The time limits do not cease to run for the duration of the public holidays and the suspension of the proceedings. However, if the end of a time limit at the disposal of the debtor, the creditor or a third party coincides with a day of the holidays or the suspension, the time limit shall be extended until the third useful day. For the calculation of the three-day period, Saturday, Sunday and statutory holidays are not counted.

A. To natural persons

¹ Proceedings shall be notified to the debtor in his or her home or to the place where he habitually exercises his or her profession. If the person is absent, the act may be given to an adult person in his or her household or to an employee.

² Where none of the persons mentioned can be reached, the act shall be given to a municipal official or to a police officer, who shall be responsible for notifying the debtor. ¹

B. Corporations, corporations and non-shared estates

¹ Where the prosecution is directed against a legal person or a company, the acts of prosecution shall be notified to its representative, namely: ¹

1. ²

The President of the executive authority, or the service designated by that authority, if it is a municipality, a canton or a confederation;

2. ³

To a member of the administrative or committee, to a director or proxy, if it is an anonymous corporation, a limited partnership, a limited liability company, a cooperative corporation or an association Entered in the Register of Trade;

3. ⁴

The President of the Administration or the Manager, if it is another legal entity;

4.

To one of the managing partners or the proxy holder, if the partnership is a partnership or a limited partnership.

² Where the above mentioned persons are not met at their office, the notification may be made to another official or employee.

³ If proceedings are taken against a non-shared succession, the proceedings shall be notified to the designated representative of the estate or, if there is no known representative, to one of the heirs. ⁵

C. To the debtor domiciled abroad or where the notification is not possible

¹ Where the debtor does not remain in the court for the prosecution, the acts shall be given to the person or deposited at the place where the person may have indicated.

² In the absence of an indication, the notification is made through the home office or by mail.

³ Where the debtor remains abroad, notification shall be effected through the authorities of his residence; the notification may also take place by post if a treaty provides for it or the State in whose territory the notification is made. Must be made consented to. ¹

⁴ The notification shall be made by publication when:

1.

The debtor has no known domicile;

2.

The debtor persistently subtracts from the notification;

3.

The debtor is domiciled abroad and the notification provided for in para. 3 cannot be obtained within a suitable time limit. ²

⁵ ... ³

A. Prosecution requisition

¹ The request for prosecution shall be sent to the Office in writing or orally. It states:

1.

The name and domicile of the creditor and, where applicable, his agent; the address for service in Switzerland, if he or she remains abroad. In the absence of a special indication, the Office is deemed to be an elected domicile;

2. ¹

The name and domicile of the debtor, and, where appropriate, his legal representative; in requisitioning proceedings against an estate, the heirs to whom the notification must be made must be appointed;

3.

The amount in Swiss legal value of the debt or security interest required; if the claim is interest, the rate and the day on which they run;

4.

The title and its date; in the absence of title, the cause of the obligation.

² The requisition made under a secured claim by pledge shall, in addition, contain the particulars provided for in Art. 151.

³ A receipt from the request for prosecution shall be issued free of charge to the requesting creditor.

B. Prosecution fees

¹ The costs of the prosecution shall be borne by the debtor. The creditor makes the advance. The Office may defer any transaction for which costs have not been advanced; but it must notify the creditor.

² The creditor may charge the fees on the first payments of the debtor.

A. Notification of proceedings. Opposition

¹ Where the prosecution is directed against a spouse placed under a Community system, the command to pay and all other proceedings shall be notified to the spouse of the debtor as well; if it appears only in the course of the proceedings Shall be placed under a Community regime, the Office shall proceed without delay to that notification.

² Each spouse may object to the command to pay.

³ ... ²

Special provisions

¹ Each spouse may, by way of the claim procedure (art. 106 to 109), claiming that seized property is a property of the debtor's spouse.

² Where the prosecution relates only to the debtor's own property and its share to the common property, each spouse may also, through the claim procedure (art. 106 to 109), oppose the seizure of common property.

³ If the prosecution continues on the debtor's own assets and on its share of the common assets, the seizure and enforcement of the debtor's share are governed by s. 132; is reserved for the seizure of income from the future work of the spouse prosecuted (art. 93). ²

⁴ A spouse's share of common goods cannot be sold at auction.

⁵ The supervisory authority may require the judge to order the separation of property.

1. Minor Custodian

¹ If the debtor is a minor, the acts of prosecution shall be notified to his legal representative. In the case of a curatelle provided for in s. 325 CC ² , the notification must be made to the trustee and to the holders of parental authority, provided that the appointment of the curator has been communicated to the prosecuting authority.

² However, if the debt is due to the performance of an authorized activity or is related to the administration of the income of the work or property left to a minor (art. 321, para. 2, 323, para. 1, and 327 B CC), proceedings shall be notified to the debtor and his or her legal representative.

2. Major Debtor Subject to Adult Protection Measure

¹ If a trustee or an agent for inaptitude has the competence to manage the assets of a major debtor and the appointment has been communicated to the Office of the prosecution, the acts of prosecution shall be notified to the trustee or the representative Due to unfitness.

² Prosecution must also be notified to the debtor whose civil rights exercise is not limited.

3. Limitation of Liability

If the debtor only responds to its available assets, it is possible to assert in the claim procedure (Art. 106 to 109) that a seized property is not part of the property.

A. Command to Pay

1. Content

¹ Upon receipt of the request for prosecution, the Office prepares the command to pay. ¹

² This act contains:

1.

The particulars prescribed for the requisition for prosecution;

2.

The summons to pay within twenty days the amount of the debt and the fees, or, where the prosecution has security rights for the purpose, to provide it within that period;

3.

Notice that the debtor must file an objection within ten days of the notification, if the debtor intends to challenge all or part of the debt or the right of the creditor to prosecute;

4.

The warning that the debtor has failed to comply with the command to pay or to form an opposition, the prosecution will take its course.

2. Writing

¹ The command to pay is written in duplicate. One copy is intended for the debtor, the other to the creditor. If the copies are not in accordance with the judgment of the debtor.

² When co-debtors are prosecuted simultaneously, a command to pay is notified to each of them. ¹

3. Time of notification

¹ The command to pay is notified to the debtor upon receipt of the request for prosecution. ¹

² The Office which receives several requisitions against the same debtor must notify all commands to pay at the same time.

³ No requisition can be executed before the older one.

4. Form of notification

¹ The notification shall be made by the attendant, by an employee of the Office or by mail. ¹

² The person making the notification shall certify on each copy the day on which it took place and the person to whom the act was given.

Presentation of evidence

¹ At the request of the debtor, the creditor is invited to present the means of evidence relating to his claim to the Office of the prosecution before the expiry of the opposition period.

² If the creditor does not execute, the opposition period shall continue to run. In a subsequent dispute, the judge nevertheless takes into account, in the decision on the costs of the proceedings, the fact that the debtor has not been able to read the evidence.

C. Opposition

1. Time and Form

¹ The debtor prosecuted who intends to form an opposition must, orally or in writing, make the immediate declaration to the debtor who gives him the command to pay or to the Office within ten days of the notification of the command to pay. ¹

² The debtor continued to argue that a portion of the debt must accurately reflect the disputed amount, failing which the entire debt is deemed to be disputed. ²

³ At the request of the debtor, the debtor is given free notice of the opposition.

2. Grounds

¹ There is no need to motivate the opposition. The person who has, however, reasoned, is not limited by the means set out.

² The debtor who disputes his return to better fortune (art. 265, 265 A ) Must expressly mention it in its opposition, except to be deprived of the right to assert that plea.

³ The provisions on late opposition (art. 77) and the opposition in the pursuit of foreign exchange effects (art. 179, para. 1) are reserved.

3. Communication to Creditor

¹ The opposition is recorded on the copy of the payment command for the creditor; if there has been no opposition, it is also mentioned.

² This copy shall be given to the creditor immediately after the opposition or the expiry of the opposition period.

4. Late Opposition in Case of Creditor Change

¹ If the creditor changes during the prosecution proceedings, the debtor may file opposition to the distribution of the funds or to the declaration of bankruptcy.

² The debtor prosecuted must lodge an opposition before the court of the for the prosecution with written and reasoned submissions within ten days from the one in which he became aware of the change of creditor by making the exceptions likely Effective against the new creditor.

³ The court hearing the opposition may order the suspension of the proceedings; it shall rule on the admissibility of the opposition after hearing the parties.

⁴ If the opposition is allowed but a seizure has already been carried out, the person shall give the creditor ten days to commence action in recognition of his claim. If the time limit is not used, the input becomes null.

⁵ The Office notifies the debtor of any change in creditor.

5. Effects

¹ The opposition suspends the prosecution.

² If the debtor only disputes a portion of the debt, the prosecution may be continued for the amount recognized.

D. Cancellation of the opposition

1. By way of civil or administrative procedure

The creditor in respect of which he is opposed acts by way of civil or administrative procedure in order to have his right recognized. It may require the continuation of the prosecution only on the basis of a binding decision which expressly dismisses the opposition.

2. By Final Release

A. Release Title

¹ The creditor who is in favour of an enforceable judgment may request the final release of the opposition from the judge.

² The following are considered judgments:

1.

Transactions or discoveries in court;

1 ^Bis . ² Legally enforceable titles within the meaning of s. 347-352 CPC ³ ;

2. ⁴

Decisions of the Swiss administrative authorities;

3. ⁵

...

4. ⁶

Final decisions concerning the control costs of the supervisory bodies under s. 16, para. 1, of the Act of 17 June 2005 on undeclared work ⁷ .

B. Exceptions

¹ Where the prosecution is based on an enforceable judgment delivered by a Swiss court or administrative authority, the judge shall order the final release of the opposition, unless the opponent proves by title that the debt has been extinguished or That he obtained a stay, subsequent to the judgment, or that he or she does not take advantage of the prescription.

² Where the prosecution is based on a genuine enforceable title, the debtor continued to object to his or her obligation only to objections that he or she can prove immediately.

³ If the judgment was rendered in another State, the opponent may also assert the means provided for by a convention linking that State or, in the absence of such a convention, provided for by the Federal Law of 18 December 1987 on private international law ² , unless a Swiss judge has already made a decision on these means. ³

3. Interim release

A. Conditions

¹ A creditor whose pursuit is based on a recognition of debt found by genuine act or under private seing may require provisional release.

² The judge shall pronounce it if the debtor does not immediately make his discharge likely. ¹

B. Effects

¹ Where provisional release has been granted, the creditor may, after the period of payment and the quality of the debtor, request the provisional seizure or request the judge to carry out the inventory pursuant to s. 162.

² The debtor, on the other hand, may, within 20 days of release, bring an action for the release of debt to the court; the trial shall be heard in the ordinary form. ¹

³ If it does not make use of this right or if it is dismissed, the release and, where appropriate, the provisional seizure shall become final. ²

⁴ The prescribed period of time under s. 165, para. 2, does not run between the introduction of debt-release action and judgment. The bankruptcy judge, however, puts an end to the effects of the inventory when the conditions for ordering it are no longer met. ³

4. Release Procedure

¹ The judge of the court for the prosecution shall rule on the requests for release.

² Upon receipt of the request, the debtor gives the debtor an opportunity to respond orally or in writing, and then notifies the decision within five days.

E. Cancellation or suspension of the prosecution by the judge

1. In summary procedure

The debtor may, at any time, request the court of the forum for the continuation of the proceedings, if it proves by title that the debt is extinguished in capital, interest and costs, or the suspension of the prosecution, if it proves by title that the debt is extinguished. The creditor granted him a stay.

2. In ordinary or simplified procedure ²

¹ The debtor prosecuted may act at any time for the prosecution to establish that the debt does not exist or more, or that a stay has been granted.

² To the extent that, after having heard the parties and examined the exhibits filed, the judge considers that the application is very likely to be justified, it orders the provisional suspension of the prosecution:

1.

In the case of a prosecution by way of seizure or embodiing, before the realization or, if it has already taken place, before the distribution of the funds;

2.

If it is a bankruptcy proceeding, after notification of the bankruptcy commination.

³ If the application is accepted by the court, the court shall order the cancellation or suspension of the prosecution.

⁴ ... ³

F. Repetition of Unfair Action

¹ The person who paid an amount that he did not have, then continued unopposed prosecution or a judgment pronouncing the release, has the right to repeat it in the year by taking legal action. ¹

² The action shall be instituted for the prosecution or the defendant, depending on the choice of the applicant.

³ Notwithstanding s. 63 of the Code of Obligations (CO) ² , the evidence that the sum was not due is the sole responsibility of the applicant. ³

G. Prosecutions and foreign exchange effects

In the field of contract enforcement, the command to pay is governed by the special provisions of the art. 151 to 153; the command to pay and the opposition in the pursuit of foreign exchange effects are governed by the special provisions of the art. 178 to 189.

¹ Where the prosecution is not suspended by the opposition or by a judgment, the creditor may request the continuation of the prosecution on expiry of a period of 20 days from the notification of the command to pay.

² This right shall expire one year from the notification of the command to pay. If opposition has been filed, this period does not run between the introduction of the judicial or administrative procedure and the final judgment.

³ A receipt from the requisition to continue the prosecution shall be issued free of charge to the requesting creditor.

⁴ At the request of the creditor, an amount in foreign value may be converted back into Swiss legal value during the day of the requisition to continue the prosecution.

A. Execution of the entry

1. Moment

Where the debtor is subject to prosecution by way of seizure, the Office shall, after receipt of the requisition to continue the suit, proceed without delay to the seizure or have it carried out by the Office of the place where the goods are to be seized.

2. Notices

The debtor must be notified of the seizure at the latest. The notice refers to the provisions of s. 91.

3. Duties of the Debtor and Third Parties

¹ The debtor is liable, subject to the penalties provided for by law:

1.

To attend or be represented in the seizure (s. 323, c. 1, PC ² );

2.

To show up to due competition all the property belonging to it, even those that are not in its possession, as well as its claims and other rights against third parties (art. 163, c. 1, 323, c. 2, CP) ³ .

² If the debtor fails without sufficient excuse to attend the seizure or to be represented, the prosecution office may cause it to be brought by the police.

³ At the requisition of the servant, the debtor is required to open its premises and furniture. If necessary, the attendant may use the force of the public.

⁴ Third parties who hold property of the debtor or against whom the debtor has debts have, under threat of penalties under the law (art. 324, c. 5, CP), the same obligation to inform as the debtor.

⁵ The authorities have the same obligation to inform the debtor.

⁶ The prosecution office specifically draws the attention of stakeholders to their obligations as well as to the criminal consequences of non-compliance.

4. Unfit Property

¹ The following are exempt:

1. ¹

Objects reserved for the personal use of the debtor or his family, such as clothing, personal effects, household utensils, furniture or other movable objects, as they are indispensable;

1 A . ²

Animals that live in a home environment and are not held for a heritage or gain purpose;

2. ³

Objects and books of worship;

3. ⁴

Tools, apparatus, instruments and books, as they are necessary for the debtor and his family for the performance of their profession;

4. ⁵

Or two dairy cows or heifers, or four goats or sheep, at the choice of the debtor, as well as the small pets, with the fodder and the bedding for four months, as these animals are essential for the maintenance of the The debtor and the family or the maintenance of the business;

5. ⁶

The food and fuel required by the debtor and his or her family for the two months following the seizure, or the cash or receivables necessary to acquire them;

6. ⁷

Clothing, equipment, weapons, horse and pay of a person incorporated into the army, pocket money of a person who is bound to the civil service and the clothing, equipment and compensation of a person who is required to serve in the Civil protection;

7. ⁸

The right to annuities incorporated under s. 516 to 520 CO ⁹ ;

8. ¹⁰

Assistance and subsidies provided by a fund or emergency company in the event of sickness, indigence, death, etc.;

9. ¹¹

Annuities, capital allowances and other benefits allocated to the victim or his relatives for bodily harm, injury to health or death of man, as an indemnity as a moral compensation, are intended to cover Costs of care or the acquisition of auxiliary means;

9 A . ¹²

Annuities within the meaning of s. 20 of the Federal Act of 20 December 1946 on old-age and survivors' insurance ¹³ , or art. 50 of the Federal Disability Insurance Act of June 19, 1959 ¹⁴ , benefits within the meaning of s. 12 of the Federal Act of 19 March 1965 on supplementary benefits to the old-age, survivors and invalidity insurance ¹⁵ And the benefits of the family allowance compensation funds;

10. ¹⁶

The rights to benefits of foresight and free passage not yet payable in respect of an institution of occupational foresight;

11. ¹⁷

Property belonging to a foreign state or to a foreign central bank that is assigned to tasks for which it is the holder of the public authority;

² Nor are the objects for which it is necessary to admit at the outset that the proceeds of their realization would exceed the amount of the costs that their seizure does not justify. They are, however, mentioned with their estimated value in the record of seizure. ¹⁸

³ The objects mentioned in para. 1, c. 1 to 3, are garnishable when they have a high value; however, they may be removed from the debtor only if the creditor makes available to the debtor, prior to removal, replacement objects that have the same use value, or Amount necessary for their acquisition. ¹⁹

⁴ The special provisions on the insaisability contained in the Federal Act of 2 April 1908 on the insurance contract are reserved. ²⁰ (art. 79, para. 2, and 80 LCA), the Federal Act of 9 October 1992 on copyright ²¹ (art. 18 LDA) and the Penal Code (PC) ²² (art. 378, para. 2, CP). ²³

5. Relatively garnishable income

¹ All income from work, usufruits and their products, lifetime annuities, as well as maintenance contributions, pensions and benefits of all kinds that are intended to cover a loss of gain or a claim arising from the right Of maintenance, in particular annuities and capital allowances that are not exempt under s. 92, may be seized, net of what the agent considers essential to the debtor and his family.

² Such income may be seized for up to one year from the execution of the seizure. If more than one creditor participates in the seizure, the time limit shall run from the day of the execution of the first seizure made at the request of a creditor in the series in question (Art. 110 and 111).

³ If, during that period, the Office is aware of a decisive change in the amount of the seizure, it adapts the extent of the seizure to the new circumstances.

6. Seizure of pending crops

¹ Punishing crops cannot be seized, including:

1.

On the meadows, before 1 ^Er April;

2.

On the fields, before 1 ^Er June;

3.

In the vines, before August 20th.

² The alienation made by the debtor before or at those times is not prejudicial to the seizure.

³ The rights of creditors secured by immovable property on the pending crops forming an integral part of the encumbered building are reserved, provided that the creditor has himself requested the continuation of his pledge Before the seized harvests were made. ¹

7. Entering order

A. In general

¹ The seizure shall take place in the first place on movable property, including claims and relatively garnishable rights (art. 93); objects of current value must be seized first, those for which the debtor can be more easily passed, preferably to those whose debts it would be difficult to deprive. ¹

² Real property is only seized in the absence of sufficient personal property to cover the debt. ²

³ In the last place, the assets of the debtor are seized, those which the debtor designates as belonging to third parties and those which are claimed by third parties.

⁴ The debtor whose fodder is seized may require that the corresponding number of livestock parts be seized at the same time.

^4bis The attendant may depart from that order when the circumstances warrant or the creditor and the debtor jointly request it. ³

⁵ In general, the officer conducting the seizure must reconcile the interests of both the creditor and the debtor as far as possible.

B. Claims against spouse or registered partner

The claims of a spouse against his or her spouse or registered partner are seized only in the case of inadequacy of the prosecution's assets.

Effects of seizure

¹ The debtor is prohibited from being liable to the penalties provided for by law (art. 169 CP ¹ ), to dispose of the seized property without the attendant's permission. The official who makes the seizure expressly draws its attention to the prohibition and the criminal consequences of its violation. ²

² Subject to the effects of possession acquired by third parties in good faith, the acts of disposition performed by the debtor are void to the extent that they remove the rights that the seizure conferred on the creditors. ³

C. Estimation. Scope of input

¹ The official shall make an estimate of the objects he seizes. He can join experts.

² It only takes the goods necessary to satisfy the striking creditors of capital, interest and costs.

D. Security measures

1. For personal property

¹ Where the seizure relates to currency, bank notes, bearer shares, foreign exchange effects or other endorsements, articles of precious metal or other object of price, the office shall take them in their custody. ¹

² Other movable property may be temporarily left in the hands of the debtor or third-party holder, who is responsible for representing them at any time.

³ However, such objects shall also be placed in the custody of the Office or a third party, if the agent considers this appropriate measure, or if the creditor makes a reasonable expectation that it is necessary to ensure the rights established in his favour by the seizure. ²

⁴ The Office may also take in its custody the items of which a third party was nanti as a pledge; it shall return them if the implementation does not take place.

2. For claims

Where the seizure relates to a claim or other right not evidenced by a title to the bearer or transmissible by endorsement, the attendant shall notify the third party that he or she will now be able to pay only in the hands of the Office.

3. For other rights. Recovery of claims

The Office provides for the retention of seized rights and the cashing of matured claims.

4. For buildings

A. Annotation to the Land Registry

¹ Seizure of a building will result in a restriction of the right to dispose. The Office shall promptly communicate the seizure to the Land Register for annotation and with an indication of the date and amount for which the seizure took place. The communication is also made when new creditors participate in the seizure and when the seizure is terminated.

² The annotation will be deleted if the completion is not required within two years of the seizure.

B. Fruit and products

¹ The seizure of a building includes fruit and other products, without prejudice to the rights granted to secured creditors.

² The Office communicates the seizure to secured creditors and, where appropriate, to tenants and farmers.

³ He is responsible for the stewardship and operation of the building. ²

C. Fruit harvest

¹ The office provides for the harvesting of fruit (art. 94 and 102).

² If the debtor is without resources, he is drawn from what is necessary for his or her maintenance and that of his family.

5. For Common Assets

Where the seizure relates to a usufruct or to a share in an undivided estate, society or community, the Office shall give notice of the seizure to interested third parties.

6. Seized Property Retention Fees

The required creditor is required to advance the conservation costs of the seized property.

E. Third-party detentions (claim)

1. Mention and Communication

¹ Where it is alleged that a third party has a right of property, pledge or other right which is contrary to the seizure or which is to be taken into account in the enforcement proceedings, the prosecution office shall mention the Claim of the third party in the minutes of entry or inform the parties if the communication of the minutes has already taken place.

² The third party may announce its claim until the product of the realization of the seized property is distributed.

³ After completion, the third party may assert, outside the prosecution procedure, claims based on civil law in the event of theft, loss or divestment of a security (art. 934 and 935 CC ² ) Or an acquisition of bad faith (art. 936, 974, para. 3, CC). The sale of will in accordance with art. 130 of this Law shall be deemed to be a public auction within the meaning of Art. 934, para. 2, CC.

2. Future procedure

A. In the event of exclusive possession of the debtor

¹ The debtor and the creditor may challenge the claim of the third party before the Office of the prosecution where the object is:

1.

Personal property that is in the exclusive possession of the debtor;

2.

A claim or other right and the debtor's claim appears to be better founded than that of the third party;

3.

A building and the claim does not result from the land registry.

² The Office of the Prosecution shall assign them a period of ten days to that effect.

³ At the request of the debtor or the creditor, the third party is invited to present his or her evidence to the Office of the prosecution before the expiry of the opposition period. Art. 73, para. 2, applies mutatis mutandis.

⁴ If the claim is not contested, it shall be deemed to be admitted in the prosecution in question.

⁵ If the claim is contested, the Office of the prosecution shall assign a period of 20 days to the third party to initiate action in recognition of its right against the person who disputes it. If the third party fails to act, its claim is not taken into account in the prosecution in question.

B. In the case of possession or co-session of the third party

¹ The creditor and the debtor may open action against the third party in protest of his claim when the object is:

1.

Personal property that is in the possession or co-session of the third party;

2.

A claim or other right and that the third party's claim appears to be better founded than that of the debtor;

3.

A building and the claim of the third party is the result of the land registry.

² The prosecution office assigns a period of 20 days to that effect.

³ If no action has been taken, the claim shall be deemed to be accepted in the prosecution in question.

⁴ At the request of the creditor or the debtor, the third party is invited to present his or her means of proof to the Office of the prosecution before the expiry of the time limit for initiating action. Art. 73, para. 2, applies mutatis mutandis.

C. For

¹ The following are involved in the prosecution:

1.

Actions based on s. 107, para. 5;

2.

Actions based on s. 108, para. 1, where the defendant is domiciled abroad.

² Where the action based on s. 108, para. 1, is directed against a defendant domiciled in Switzerland, and is brought to the latter's domicile.

³ The forum for shares relating to rights in real property is, in all cases, at the place of the building or part of the building that has the highest value.

⁴ The judge shall notify the Office of the prosecution of the introduction of the action and of the final judgment. ... ²

⁵ As it relates to the objects at issue, the prosecution is suspended until the final judgment and the time limits for requesting the achievement (Art. 116) do not run.

F. Participation in seizure

1. In general

¹ Creditors who require the continuation of the prosecution within 30 days of the execution of the first seizure shall participate in it. The Office complements it as required, as long as it is necessary to disinterest all creditors of the same series.

² Creditors who require the continuation of the prosecution after 30 days are in the same manner as successive series, for which new seizures are made.

³ Seized items may be included in a new seizure only to the extent that their product will not be of interest to creditors in the previous series.

2. Preferred Participation

¹ Have the right to participate in the seizure without prior prosecution and for a period of 40 days from the execution of the seizure:

1. ²

The spouse or registered partner of the debtor;

2. ³

The children of the debtor because of their claims arising from parental authority and the major persons because of their claims arising from a warrant for incapacity (art. 360 to 369 CC ⁴ );

3.

The debtor's major children and grandchildren because of their art-based claims. 334 and 334 ^Bis CC ⁵ ;

4.

The beneficiary of a life maintenance contract because of its claim based on s. 529 CO ⁶ .

² However, the persons mentioned in para. 1, c. 1 and 2 may exercise their right only if the seizure was carried out during the period of the marriage, the registered partnership, the parental authority, the term of office for reasons of incapacity, or in the year following the end of those reports; the duration of a Trial or prosecution is not an account. The child and adult protection authority may also participate in the seizure on behalf of the children or a person who is the subject of a measure of protection of the adult. ⁷

³ If the prosecution office knows the persons who have the right to participate in the seizure, it shall inform them of the seizure by simple fold.

⁴ The prosecution office carries the requests for participation in the knowledge of the debtor and the creditors; it assigns them a period of ten days to form an opposition.

⁵ If the opposition is opposed, the participant is only admitted on a provisional basis and must submit his action within 20 days for the prosecution, subject to exclusion. ... ⁸ .

G. Input Minutes

1. Writing

¹ A record of the seizure shall be drawn up. The minutes shall be signed by the official or the employee conducting the transaction; it shall set out the names of the creditor and the debtor, the amount of the receivable, the day and time of the seizure, the assets seized and their estimated value, as well as the Claims by third parties.

² If the seized objects are found to be in receivership, the right to participate in the sequestration (art. 281) is recorded in the Minutes.

³ If the garnishable goods are insufficient or are completely lacking, reference is made to them.

2. Adjunctions

The participation of new creditors and the entry supplements shall be recorded at the end of the minutes.

3. Notification to creditors and the debtor

At the expiration of the 30-day time limit, the prosecution office shall without delay notify a copy of the minutes to the creditors and the debtor.

4. Seizure of seizure as an act of default of property

¹ If there are no garnishable goods, the record of seizure shall be deemed to be an act of lack of property within the meaning of s. 149.

² It shall be the act of default of provisional property and shall confer on the creditor the rights referred to in s. 271, c. 5, and 285, where the garnishable goods are insufficient based on the estimate.

³ The act of default of provisional property also confers on the creditor the right to demand within the period of one year provided for in Art. 88, para. 2, seizure of newly discovered property. The provisions on participation (art. 110 and 111) are applicable. ¹

A. Requisition sequence

1. Delay

¹ The creditor may request that the seized property be carried out one month at the earliest and no later than one year after the seizure, in the case of movable property, including claims and other rights; it may do so six months at the earliest and no later than two years After the seizure, if it is real property.

² Where the future salary has been seized and the amounts seized have not been remitted by the employer, the realization of the right to such amounts may be required within 15 months of the seizure.

³ When the participation of several creditors has resulted in a further seizure, the time limits run as soon as the successful completion of the seizure.

2. Quality to request

¹ Each creditor may request the realization ¹ For the series of which he is a member.

² Creditors may even require the realization of the assets for which they have seized only the added value (art. 110, para. 3).

3. In case of provisional seizure

The creditor whose seizure is only provisional shall not require enforcement. Time limits for s. 116 do not run for him.

4. Effects

¹ The realization is carried out in accordance with art. 122 to 143 A .

² It shall be suspended as soon as the product reaches the amount of the claims for which the seizure is provisional or final. Art. 144, para. 5, is reserved.

5. Notice to the debtor

The Office of Proceedings ¹ Informs the debtor of the requisition for completion within three days.

6. Extinction of prosecution

The prosecution shall fall if the requisition has not been made within the legal period or if, withdrawn, it has not been renewed within that period.

B. Realization of furniture and receivables

1. Timeliness

A. In general

¹ Moveable assets, including claims, shall be carried out by the Office of the Prosecution 10 days at the earliest and no later than two months from the receipt of the requisition. ¹

² Punishing crops cannot be harvested before maturity without the consent of the debtor.

B. Exceed to the realization

¹ If the debtor makes a reasonable expectation of payment of the debt by instalments, and if the debtor undertakes to pay the Office regular and appropriate instalment payments, the person may return the realization by twelve months at most, once the first Payment made. ²

² In proceedings required due to collozed claims in first class (art. 219, para. 4), the realization may be returned no more than six months. ³

³ The agent determines the amount of the payments and the date of the payments; in so doing, it takes into account both the situation of the debtor and that of the creditor.

⁴ The stay shall be extended, as appropriate, for the duration of the stay of the proceedings. The instalments and their maturity are then fixed again upon the expiry of the suspension. ⁴

⁵ The agent shall amend its decision of its own motion, or at the request of the creditor or the debtor, to the extent that the circumstances so require. The stay is null and void when a deposit is not paid on time. ⁵

C. Prefetch

¹ At the request of the debtor, enforcement may take place even before the creditor is entitled to request it.

² The agent may proceed at any time to carry out the objects of a rapid depreciation, which is expensive to keep or whose deposit results in disproportionate costs. ¹

2. Auctions

A. Preparatory measures

¹ This is done at public auction. It is preceded by a publication which indicates the location, the day and the hour.

² The advertising to be given to this notice and the mode, place and day of the auction ¹ , are determined by the operator in the manner that it considers to be the most favourable to the persons concerned. The inclusion in the official sheet is not rigorous.

³ If the debtor, the creditor and the interested third parties have in Switzerland a known residence or a representative, the prosecution office shall inform them at least three days in advance, by simple ply, of the place, day and hour of the auction. ²

B. Adjudication. Principle of sufficient supply

¹ The object to be achieved shall be awarded after three auctions to the highest bidder, provided that the offer is greater than the sum of the secured claims as a guarantee which is preferable to that of the prosecutor.

² If there is no sufficient supply, the prosecution ceases to be the object to be carried out.

C. Waiver of achievement

If it appears from the outset that an auction will not be possible under s. 126, the servant may, at the request of the prosecutor, renounce the realization and establish an act of default of property.

D. Objects of precious metal

Objects of precious metal cannot be awarded at a price lower than the value of the metal.

E. Method of payment and consequences of the home

¹ Payment must be made immediately following the award. The prosecution officer may, however, grant a term of up to 20 days. Remission takes place only when the Office of the Prosecution can dispose of the amount irrevocably. ¹

² Payment can be made in cash up to 100 000 francs. If the price is higher, the payment of the excess amount must be made through a financial intermediary within the meaning of the Act of 10 October 1997 on money laundering ² The prosecution officer determines the method of payment. ³

³ If payment is not made within the time limit, the Office shall order a new auction to which Art. 126 is applicable. ⁴

⁴ The previous contract awardee and its sureties shall be subject to the valuation of the first auction, as well as any other damage. The loss of interest is calculated at the rate of 5 %.

3. Selling voluntarily

The sale may take place willingly, in place of the auction: ¹

1. ²

When all interested parties expressly consent to it;

2.

When it is a value or other object listed on the market or on the stock exchange, for which an equivalent price is offered during the day;

3. ³

In the case of precious metal objects which, having been auctioned, have not reached the value of the metal and for which the price is offered;

4.

In the case provided for in Art. 124, para. 2.

4. Assignment of claims

¹ If all the striking creditors so request, the claims of the debtor not listed on the stock exchange or the market are given to them in payment, or to one of them on their behalf, at face value. In this case, creditors are subrogated to the rights of the debtor to the extent of their claims.

² If all the striking creditors agree, all or some of them may, without prejudice to their rights against the debtor pursued, claim claims seized on their behalf, on their behalf and at their peril. They must be authorized by the prosecution office. The amount they can obtain will, in this case, be used to cover their own claims and expenses. The balance shall be returned to the prosecution office. ¹

5. Special Enforcement Procedures

¹ In the case of goods not specified in the preceding articles, such as a usufruct, a share in an undivided estate, in an undivided family, in a company or in another community, the agent shall apply to the supervisory authority Set the embodil mode.

² The same rule applies to the making of inventions, titles for the protection of varieties, industrial designs, trademarks and copyrights. ²

³ After consultation with the interested parties, the authority may order the auction, entrust the realisation to a manager or take any other action.

6. Realization Challenge

¹ The undertaking can only be attacked by means of a complaint against the invitation to tender or the act of sale of a willing seller.

² The deadline for filing a complaint under s. 17, para. 2, short as soon as the complainant became aware of the contested act and could know the ground for the challenge.

³ The right of complaint is extinguished one year after completion.

C. Realization of buildings

1. Delay

¹ Buildings shall be carried out by the Public Auction Office at least one month, not later than three months from the date of receipt of the requisition.

² At the request of the debtor and with the express agreement of all the secured and striking creditors, the realization may take place even before a creditor is entitled to request it.

2. Auction Conditions

A. Depot

¹ The prosecution office shall determine the conditions of the auction after the use of the premises and in the most advantageous manner.

² The conditions remain at least ten days before the auction at the office of the Office, where everyone can read them.

B. Contents

¹ The terms of the auction must indicate that the buildings are awarded with all encumbrances (easements, land charges, real estate contracts, annotating personal rights) and that the debtor's personal obligations will be delegated To the recipient. The debtor of a debt thus delegated is, however, released, in the case of mortgage and mortgage schedule, if the creditor does not declare to the debtor within one year of the award that he intends not to waive his rights against him (art. 832 CC ¹ ). The debts owing secured by the guarantee of immovable property are not delegated, but are paid in preference to the proceeds of the realization. ²

² The conditions shall indicate the costs to the contract awardee.

C. Payment Method

¹ The Prosecution Service shall determine the method of payment under the conditions of the auction; it may grant a term of not more than six months.

² Payment can be made in cash up to 100 000 francs. If the price is higher, the payment of the excess amount must be made through a financial intermediary within the meaning of the Act of 10 October 1997 on money laundering ² .

D. Term for payment

Where a term has been granted for payment, the building shall be managed by the office of prosecution, the costs and the risks and perils of the contract awardee, until the award of the award is paid. Until then, no registration can be made in the Land Registry without the authorization of the Office. The latter may require special security rights as collateral for the award price.

3. Auctions

A. Publication. Production of rights

¹ Auctions shall be published at least one month in advance.

² The publication is:

1.

The indication of the place, day and time of the auction;

2.

The indication of the date on which the auction conditions will be deposited;

3. ¹ Summons to secured creditors and other interested parties to file, within the 20-day time limit, their rights to the building, including interest and expense claims. Caution will be given to them that, in the past, they will be excluded from the distribution, provided that their rights are not recorded in the land register.

³ This summation is also addressed to those who have rights of servitude, if the cantonal legislation is still to be applied. ²

B. Notice to Interested Parties

The Office of Public Prosecutions shall communicate, by simple fold, a copy of the publication to the creditor, the debtor, the third-party owner of the property and any interested person registered in the land register, if they have a known residence or a representative.

C. Purification of the state of the loads. Estimate

¹ Before proceeding to the auction, the clerk shall draw up the statement of the charges on the buildings (easements, land charges, real estate contracts, annotated personal rights) on the basis of the productions of the rights holders and the extracts from the register Land.

² The person shall communicate that statement to the persons concerned, giving them a period of ten days to form an opposition. Art. 106 to 109 are applicable.

³ The agent also makes an estimate of the building and communicates the result to the persons concerned.

D. Auctioneers

¹ Where a right entered in the statement of expenses is at issue, the auction shall be suspended pending the settlement of the dispute if it can be accepted that it affects the amount of the award or that the auction would be of other interest Legitimate, if practised before the dispute was settled.

² Where only the quality of the accessory or the issue of whether an accessory is used as a pledge only to certain secured creditors other than the others, the auctioning of the building and the accessory may take place before the Dispute is not resolved.

E. Double pricing

¹ Where a building has been encumbered by an easement, land charge or an annotated personal right without the consent of a prior-ranking creditor and the prior rank of the lien is the result of the statement of expenses, the creditor May request, within 10 days of notification of the condition of the charges, that the building be auctioned with or without the charge.

² If the prior rank of the lien does not result from the statement of the charges, the request for dual pricing shall be given only where the holder of a right in question has recognized the former rank or the winning creditor has initiated action in Declaration of the place of the place of situation of the building within ten days of the notification of the state of the charges.

³ If the price offered for the building being auctioned with the charge is not sufficient to disinterest the creditor, the creditor may request the cancellation of the charge in the land register as soon as the building so unencumbered becomes feasible at a price Above. The surplus, once the creditor is disinterested, is primarily intended to disinterest the creditor up to the value of the charge.

4. Adjudication. The principle of sufficient supply. Waiver of realization

The provisions relating to the award and the principle of sufficient supply (Art. 126), as well as the renunciation of achievement (art. 127) are applicable.

5. Consequences of the home

¹ If payment is not made within the time limit, the auction shall be revoked and the prosecution office shall immediately order new auctions. Art. 126 is applicable. ¹

² The previous contract awardee and its sureties shall be subject to the lowest value on the first auction price and any other damage. The interest loss is calculated at the rate of 5 %.

6. Additional provisions

Art. 123 and 132 A Also apply to the making of real property.

7. Selling voluntarily

¹ Instead of auctions, the sale may take place on a voluntary basis when all interested parties agree and the price offered is at least that of the estimate.

² The sale can take place only after the state of the art has been cleaned up. 138, para. 2, c. 3 et al. 3, and art. 140, as well as by analogy, s. 135 to 137.

D. Distribution of Money

1. Timing. How to proceed

¹ The distribution of funds takes place as soon as all assets included in a seizure are made.

² Interim distributions can be made at any time.

³ The product of the undertaking is first used to cover the costs of administration, production, distribution and, where appropriate, the acquisition of an object of replacement (Art. 92, para. 3). ¹

⁴ The net proceeds are distributed to creditors up to the amount of their claims, interest up to the time of the last realization and prosecution costs (art. 68) included. ²

⁵ Dividends relating to provisional seizures shall be deposited until further order at the deposit and consignments fund.

2. Additional Input

¹ Where the proceeds of realization are not sufficient to disinterest creditors, the prosecution office immediately executes a supplementary seizure and carries out the seized assets as soon as possible. Another requisition by a creditor is not necessary and the Office is not obliged to respect the ordinary time limits.

² If the Office of the Prosecution has proceeded with another seizure, the rights thus acquired shall not be affected by the additional seizure.

³ The provisions on participation (art. 110 and 111) are applicable.

3. Collocation Status and Distribution Table

A. Rank of Creditors

¹ Where the product of the realization is not sufficient to disinterest all creditors, the prosecution office shall establish a state of collocation and a distribution table.

² Creditors are admitted to the rank to which they would be entitled in the event of bankruptcy under s. 219. The effective date, instead of the date of the declaration of bankruptcy, is that of the requisition to continue the prosecution.

B. Depot

The state of collocation and the distribution table are deposited in the office of the Office of the Prosecution. The creditor shall inform the parties concerned and notify each creditor of an extract concerning his claim.

C. Challenge Action

¹ The creditor who intends to contest the claim or the rank of another creditor must, within 20 days of the receipt of the extract, open against the creditor an action in dispute of the condition of collocation; the action shall be instituted against the Pursuit. ¹

² ... ²

³ Where the action is allowed, the dividend relating to the claim of the defendant according to the distribution board shall be vested in the plaintiff, to the extent necessary to cover his loss and the costs of trial. The possible balance shall be remitted to the defendant. ³

4. Deficiency Act

A. Issuance and Effects

¹ The creditor who participated in the seizure and has not been fully disinterested receives an act of default of property for the unpaid amount. The debtor receives a copy of the act of default of property. ¹

^1bis The prosecution office issues the act of default as soon as the amount of the loss is established. ²

² This act is a recognition of debt in the sense of art. 82 and confers the rights referred to in s. 271, c. 5, and 285.

³ The creditor is relieved of the command to pay, if he continues the prosecution within six months of the receipt of the act of default.

⁴ It shall not claim to the debtor the interest for the debt found by default of property. Bonds, coerced or other guarantors who have had to pay since cannot claim the refund.

⁵ ... ³

B. Prescription and radiation

¹ The debt established by an act of default of property shall be prescribed by 20 years from the date of the grant of the act of default of property; in respect of the heirs of the debtor, it shall be prescribed not later than one year from the date of the opening of the estate.

² The debtor may at any time pay the claim by paying in the hands of the prosecution service which has issued the act of default of property. The Office transmits the amount to the creditor or, where appropriate, the deposit to the deposit box and consignments.

³ After payment of the entire debt, the recording of the act of default of property shall be deleted from the register. Such cancellation shall be given to the debtor who requests it.

5. Return of the debt obligation

¹ The fully disinterested creditor is required to surrender his duty paid to the Office of the prosecution for the debtor.

² The creditor partially disinterested shall retain the title; however, the Office certifies, or certifies by the competent authority, the amount for which the title remains valid.

³ The Office of Public Prosecutions provides for write-offs and changes in easements, land charges, real estate contracts and personal rights in the land registry.

A. Commination of Bankruptcy

1. Moment

Upon receipt of the requisition to continue the prosecution, the prosecution office addresses without delay the bankruptcy commination to the debtor subject to the bankruptcy proceeding.

2. Content

¹ The bankruptcy commination states:

1.

The particulars prescribed for the requisition for prosecution;

2.

The date of the command to pay;

3. ¹ The warning that the creditor may require the expiry of a period of 20 days;

4. ² Notice that the debtor may, within 10 days, use the supervisory authority (s. 17), if it considers that it is not subject to bankruptcy.

² In addition, the debtor is reminded that the law allows him to propose a concordat.

3. Notification

¹ The bankruptcy commination shall be notified in accordance with Art. 72. ¹

² The Office shall submit a duplicate to the creditor immediately after the notification. ²

³ ... ³

B. Inventory of assets

1. Decision

At the request of the creditor, the bankruptcy judge shall decide, if necessary, that the debtor's assets will be inventorted.

2. Run

¹ The Prosecution Office shall prepare the inventory. It cannot commence until the notification of the bankruptcy commination; exceptions to the cases referred to in s. 83, para. 1, and 183. ¹

² The provisions of Art. 90, 91 and 92 shall apply mutatis mutandis.

3. Effects

A. Duties of the debtor

¹ The debtor is liable under threat of the penalties provided for by law (art. 169 CP ² ), to represent at all times, in kind or in value, the goods inventoried, with the exception of what the attendant may have given to him for his maintenance and that of his family.

² The attendant specifically draws the debtor's attention to its obligations and the criminal consequences of non-compliance.

B. Duration

¹ The taking of inventory is revoked by the attendant if all of the following creditors agree.

² The effects of the inventory shall cease to be fully effective four months after the date of its establishment. ¹

C. Bankruptcy Requisition

1. Delay

¹ At the expiration of the twenty-day period of the notification of the commination, the creditor may require the judge to declare bankruptcy. He attached to his request the command to pay and the act of commination.

² The right to request bankruptcy shall expire 15 months from the notification of the command to pay. If opposition has been filed, this period does not run between the introduction of the judicial procedure and the final judgment. ¹

2. Remove

The creditor who withdrew the requisition for bankruptcy can only renew it one month later.

3. Bankruptcy Hearing

The judge hearing a requisition for bankruptcy shall notify the parties of the day and time of the hearing at least three days in advance. They may present themselves or be represented there.

4. Responsibility for the costs of bankruptcy

¹ The person who requires bankruptcy shall meet the costs up to and including the suspension of operations due to lack of assets (art. 230) or until the appeal to creditors (s. 232). ¹

² The judge may require that he advance it.

5. Conservatory Measures

The judge may order any interim measures that the judge considers necessary in the interests of the creditors.

D. Judgement of Bankruptcy

1. Declaration

The judge shall act without delay and even in the absence of the parties. He must declare bankruptcy except in the cases referred to in s. 172 to 173 A .

2. Rejection of the requisition for bankruptcy

The judge rejects the requisition for bankruptcy in the following cases:

1.

When the monitoring authority has cancelled the commination;

2. ¹

Where the debtor has been granted the return of a time limit (Art. 33, para. 4) or the benefit of a late opposition (art. 77).

3.

Where the debtor justifies by title that the claim has been paid in capital, interest and expense or that the creditor has granted a stay of the claim.

3. Deferment of Bankruptcy

A. Suspension of prosecution or grounds for invalidity

¹ Where the suspension of the prosecution has been ordered by the supervisory authority before a complaint or by the judge in accordance with s. 85 or 85 A , para. 2, the judge adjourn his decision on the bankruptcy judgment. ¹

² If the judge himself considers that a null decision has been made in the previous proceedings (Art. 22, para. 1), it also adjourns its decision and submits the case to the supervisory authority. ²

³ It shall decide on the requisition for bankruptcy after it has received notice of the decision of that authority.

B. In the event of a request for a stay of stay or extraordinary or ex officio

¹ If the debtor or a creditor has applied for a stay or extraordinary stay, the court may adjourn the bankruptcy judgment.

² The court may also adjourn the bankruptcy judgment ex officio when a concordat appears possible; in this case, it transmits the case to the judge of the concordat.

³ ... ²

3 ^Bis . Procedure followed by the Financial Markets Supervisory Authority

If the requisition for bankruptcy involves a bank, a securities dealer, an insurance company, a pledging office, the management of an investment fund, a variable-capital investment company (SICAV), a company As a group or a fixed capital investment company (SICAF), the bankruptcy judge transmits the file to the Federal Financial Market Supervisory Authority (FINMA). It shall proceed in accordance with the special laws.

4. Recourse

¹ The decision of the bankruptcy judge may, within ten days, be appealed within the meaning of the CPC ² The parties may present new facts when they have occurred before the first instance judgment.

² The appeal authority may annul the commencement of the bankruptcy where the debtor makes a reasonable expectation of solvency and establishes by title that one of the following conditions is fulfilled:

1.

The debt, interest and expenses included, has been paid;

2.

The entire amount to be repaid has been filed with the higher judicial authority for the creditor;

3.

The creditor withdrew its requisition for bankruptcy.

³ If the appeal authority grants the suspensive effect, it simultaneously orders the provisional measures to preserve the interests of the creditors.

E. Timing of the declaration of bankruptcy

¹ The bankruptcy is open at the time the judgment is pronounced.

² The judgment notes that moment.

F. Communication of judicial decisions

¹ The judge shall communicate without delay to the prosecution offices, the bankruptcy offices, the commercial register and the land registry:

1.

The declaration of bankruptcy;

2.

The revocation of the bankruptcy;

3.

The closure of the bankruptcy;

4.

Decisions granting suspensive effect to an appeal;

5.

The contents of the ordered provisional measures.

² Bankruptcy is mentioned in the Land Registry no later than two days after its opening. ²

A. Conditions

¹ A creditor acting on the basis of a foreign exchange effect or a cheque may, even though the claim is secured by a pledge, request the pursuit of foreign exchange effects, where the debtor is subject to bankruptcy.

² The creditor attaches to his requisition the exchange effect or the check.

B. Pay Command

¹ After the existence of the above conditions, the prosecution office immediately notifies the command to pay.

² The Command to Pay states: ¹

1.

Indications of the prosecution requisition;

2. ² The summons to pay, within five days, the amount of the debt and the fees.

3. ³ Notice that the debtor may file opposition (s. 179) or recourse to the supervisory authority (art. 17 and 20) for breach of the law;

4. ⁴ Notice that the creditor may request bankruptcy if the debtor does not comply with the command to pay even though the debtor has not filed an objection, or if the opposition has been dismissed (s. 188).

³ Art. 70 and 72 are applicable.

C. Opposition

1. Time and Form

¹ The debtor may lodge an opposition before the Office of the Prosecutions in writing and within five days from the notification of the command to pay, claiming one of the grounds listed in Art. 182. It shall be given free notice of its opposition to the debtor who requests it.

² The debtor is not limited to the grounds relied on in support of his or her opposition; he may avail himself of the other means provided for in s. 182.

³ Art. 33, para. 4, does not apply.

2. Communication to Creditor

¹ The opposition is recorded on the double of the command to pay for the creditor; if it does not happen, there is also mention of it.

² The Office submits that double to the creditor immediately after the opposition or the expiry of the opposition period.

3. Transmittal to the Judge

The prosecution office shall without delay submit the opposition to the judge of the prosecution for the prosecution. He shall cite the parties to appear and decide, even in their absence, within ten days of the receipt of the opposition.

4. Admissibility

The judge declares the opposition admissible:

1.

Where the debtor justifies by title that the holder of the effect or cheque is paid, has consented to the forgiveness of the debt or granted a stay;

2.

When he alleges that the security is falsity and that his or her say is likely;

3.

Where the debtor raises an eligible exchange letter exception and appears to be founded;

4. ¹ When he alleges another plea based on s. 1007 CO ² And that it makes its allegations plausible; in this case, the opponent is required to deposit the amount of the effect in cash or other values or to provide equivalent security.

5. Inadmissibility. Conservatory Measures

¹ If the judge repulates the opposition, it may order the necessary provisional measures, in particular the inventory in accordance with Art. 162 to 165.

² It may also require the creditor to provide security. ¹

6. Notification of decision. Time limit for acting in case of filing

¹ The decision on the admissibility of the opposition shall be notified immediately to the parties. ¹

² If the opposition has been accepted only with a deposit, the creditor is invited to bring the action in payment within ten days. If it does not comply with the deadline, the deposit shall be returned.

7. Recourse

The decision on the admissibility of the opposition may, within five days, be subject to appeal within the meaning of the CPC ² .

8. Effects of the declared opposition admissible

If the opposition has been declared admissible, the prosecution is suspended and the creditor claims his right by way of the ordinary procedure.

D. Repeat action

Any person who has paid an amount that he or she should not, then prosecution without objection, has the right to repeat it in accordance with art. 86. The same is true if it has paid after opposition declared inadmissible.

E. Bankruptcy sequence

¹ If the debtor who is not opposing or whose opposition has been rejected does not comply with the command to pay, the creditor may request the bankruptcy on the mere production of the debtor's title, the command to pay and, where appropriate, the judgment that is not The opposition.

² The right to request bankruptcy shall lapse one month from the notification of the command to pay. If opposition has been filed, the time which has elapsed up to the judgment or, where appropriate, from the introduction of the action to the final judgment, is not counted. ¹

F. Judgment of Bankruptcy

¹ The judge shall inform the parties of the place, day and time when it will decide on the requisition for bankruptcy. It shall act, even in the absence of the parties, within ten days of the filing of the requisition.

² Art. 169, 170, 172, c. 3, 173, 173 A , 175 and 176 are applicable.

A. At the request of the creditor

¹ Creditor may request bankruptcy without prior action:

1.

If the debtor has no known residence, if he has absconded in order to evade his or her undertakings, if he has committed or attempted to commit acts in fraud of the rights of his creditors or his property in the course of a prosecution by A seizure directed against him;

2.

If the debtor subject to the bankruptcy proceeding has suspended payments;

3. ¹

...

² The debtor who has a residence or a representative in Switzerland shall be assigned promptly before the judge to be heard.

B. At the request of the debtor

¹ The debtor can himself request his bankruptcy by declaring himself insolvent in court.

² Where any possibility of amicable settlement of debts under Art. 333 ss is excluded, the judge declares bankruptcy. ¹

C. Ex-officio

Bankruptcy shall be declared ex officio without prior prosecution in cases provided for by law.

D. Derepudiated or insolvent succession

¹ The competent authority shall inform the bankruptcy judge of the following:

1.

All heirs have expressly repudiated the estate or the estate is deemed to be repudiated (s. 566 and s. And 573 CC ² );

2.

An estate whose official liquidation has been required or ordered is insolvent (art. 597 CC).

² In such cases, the judge orders the liquidation according to the rules of the bankruptcy.

³ Liquidation according to bankruptcy rules may also be required by a creditor or by an heir.

E. Procedure

¹ Art. 169, 170 and 173 A To 176 apply to bankruptcies without prior prosecution. Art. 169, however, does not apply to the bankruptcy under s. 192.

² Communication to the Register of Trade (Art. 176) does not take place if the debtor was not subject to bankruptcy.

A. In general

¹ The judge pronounces the revocation of the bankruptcy and the reinstatement of the debtor in the free disposition of his property where:

1.

It establishes that all debts are paid;

2.

It submits a declaration by all creditors certifying that they are withdrawing their productions;

3.

A concordat has been certified. ¹

² Revocation may be made upon the expiry of the time limit for the productions and until the closure of the bankruptcy.

³ It is made public.

B. In cases of repudiated succession

In addition, liquidation by bankruptcy of a repudiated estate is terminated when, before the close of the estate, a successor is entitled to accept the estate and provides security for the payment of the debts.

A. Mass of bankruptcy

1. In general

¹ All of the assets seized by the bankrupt at the time of the commencement of the bankruptcy form a single estate, regardless of where they are located, and are allocated to the payment of the creditors.

² The property that falls on the bankrupt until the close of the bankruptcy returns to the estate.

2. Property pledged

Also enter into the mass the goods on which there is a pledge, subject to the rights of preference of the secured creditor.

3. Seized or sequestered property

¹ The seized property not realized at the time of the opening of the bankruptcy and the assets held back are returned to the estate.

² However, if the time limits for participation in seizure (art. 110 and 111) are due to the opening of the bankruptcy, the amounts already received as a result of the seizure of cash, the seizure of claims and wages, and the achievements of property shall be distributed in accordance with Art. 144 to 150; the surplus is returned to the mass. ¹

4. Purpose of Revocation

The mass shall also include everything that may be the subject of a revocatory action in accordance with art. 214 and 285 at 292.

5. Bearer shares and order values

The bearer shares and the order values transferred to the bankrupt for the encashment only, or as a specially designated payment coverage, may be claimed by the person entitled.

6. Assignment of claims or restitution of the price

Where the bankrupt has sold something belonging to another person and has not received the price before the opening of the bankruptcy, the owner shall have the right to demand the assignment of the receivable against the purchaser or the return of the price, if it has been paid to the estate, Against reimbursement of what may be due to the said thing.

7. The seller's right to withdraw

¹ The goods sold and shipped of which the debtor did not take possession before the declaration of bankruptcy may be claimed by the seller, unless the mass pays the price.

² The claim cannot be made if, prior to the publication of the bankruptcy, things were sold or pledged to a third party in good faith, by car, bill of lading or letter of lading.

B. Failure of the Bankrupt to dispose

¹ All acts by which the debtor has disposed, since the opening of the bankruptcy, of property belonging to the estate are void.

² However, if, prior to the publication of the bankruptcy, the debtor has paid at maturity a foreign exchange note subscribed by him or a letter of exchange from him, the payment is valid, provided that the holder of the effect has had no knowledge of the And that, in the event of refusal of payment, it could usefully exercise against third parties the legal recourse in respect of a letter of exchange.

C. Payments in the hands of the bankrupt

¹ From the start of the bankruptcy, the debtor cannot receive any payment. Any person who pays between his or her hands shall be discharged, in respect of the creditors of the bankrupt, only to the extent of the amount or value that is found in the estate.

² However, the debtor of the bankrupt who has discharged his or her hands before the publication of the bankruptcy is released, unless he or she has become aware of the bankruptcy.

D. Prosecution of the Bankrupt

¹ The proceedings against the bankrupt are extinguished and no proceedings can be taken during the liquidation of the bankruptcy for claims arising before the opening of the bankruptcy. The exception is the prosecution of a third party's contract.

² The prosecution of claims arising after the commencement of the bankruptcy shall continue by way of seizure or enforcement of the pledge during the liquidation of the bankruptcy.

³ During the bankruptcy proceedings, the debtor cannot require the opening of another bankruptcy by declaring itself insolvent (art. 191).

E. Suspension of civil trials and administrative procedures

¹ Except in cases of emergency, the civil trials to which the bankrupt is a party and which affect the state of the bankrupt estate are suspended. They may not be continued, in the event of ordinary liquidation, until after 10 days after the second meeting of the creditors and, in the case of summary liquidation, that after the 20 days following the deposit of the state of collocation.

² Administrative procedures may be suspended under the same conditions as civil proceedings.

³ The limitation periods and expiration periods do not run during the suspension of proceedings.

⁴ This provision shall not apply to actions for damages due to injury and bodily injury or to proceedings under the right of the family.

A. Eligibility of debts

¹ The opening of the bankruptcy makes the debts of the bankrupt outstanding, with the exception of those secured by guarantees on the property of the bankrupt. The creditor may assert, in addition to capital, the current interest until the day of the opening and the fees. ¹

² Unmatured debt that is not in interest is reduced by the discount at the rate of 5 per cent.

B. Interest Courses

¹ The opening of the bankruptcy stops, in respect of the bankrupt, the course of interest.

² However, the interest of secured claims shall continue to accrue to the realization to the extent that the proceeds of the pledge exceed the amount of the debt and interest accrued at the time of the opening of the bankruptcy.

C. Claims Subordinate to Conditions

¹ Where a claim is subject to a condition precedent, the creditor may nevertheless claim it in its entirety; but it only collects the dividend when the condition is fulfilled.

² Debts based on a life annuity contract are governed by s. 518, para. 3, CO ² .

D. Conversion of claims

¹ The claim for which the object is not a sum of money turns into a claim of equivalent value.

² However, where the claim is the result of a bilateral contract, which is not yet performed at the time of the opening of the bankruptcy or which is only in part, the administration of the bankruptcy may take charge of it in kind instead of Of the debtor. The contractor may require security rights. ¹

^2bis The right to administer the bankruptcy provided for in para. However, 2 is excluded in the case of strict term commitments (Art. 108, c. 3, CO ² ), as well as in the case of term financial transactions, swaps and options, where the value of the contract benefits on the day of the opening of the bankruptcy is determinable on the basis of the current price or the stock price. The administration of the bankruptcy and the counterparty each have the right to assert the difference between the agreed value of the contract benefits and their market value at the time of the opening of the bankruptcy. ³

³ The provisions of other federal statutes relating to the termination of contracts in the context of bankruptcy and the provisions relating to the retention of title (s. 715 and 716 CC ⁴ ). ⁵

D ^Bis . Duration Contracts

¹ Claims based on a contract of duration may be invoked as a claim for bankruptcy as soon as it is opened, but at the latest until the end closest to termination of the contract or until its expiry date. The benefits that the creditor would have obtained during that period are attributed to him.

² If the bankrupt estate benefited from the benefits based on the duration contract, the corresponding counterbenefits arising after the opening of the bankruptcy are worth debts of the bankrupt estate.

³ The prosecution of a contractual relationship by the debtor, on a personal basis, shall be reserved.

E. The seller's right of termination

The person who, before the opening of the bankruptcy, has sold and delivered an object to the debtor cannot either terminate the contract or claim the object, even though it would have expressly reserved that option.

F. Compensation

1. Conditions

¹ The creditor has the right to offset his claim with that which the bankrupt may have against him.

² However, any compensation is excluded: ¹

1. ² Where the debtor of the bankrupt has become his creditor subsequent to the commencement of the bankruptcy, unless the debtor has performed an earlier obligation or has unencumbered a debt pledged for the bankrupt's debt and has This thing a right of ownership or a limited right (art. 110, c. 1, CO ³ );

2.

Where the creditor of the bankrupt has become the debtor or the estate of the estate after the commencement of the bankruptcy;

3. ⁴

...

³ Compensation with claims arising from bearer securities may occur if and to the extent that the creditor establishes that it acquired the securities in good faith prior to the commencement of the bankruptcy. ⁵

⁴ In the event of the bankruptcy of a limited partnership, an anonymous corporation, a limited partnership corporation, a limited liability corporation or a cooperative corporation, the amount not released from the sponsorship or social capital, or Arrears of statutory contributions of the cooperative corporation cannot be offset. ⁶

2. Challenge

The compensation may be contested where the debtor of the bankrupt has acquired, before the opening of the bankruptcy, but having knowledge of the insolvency of his creditor, a claim against him, for the purpose of obtaining or providing to a third party, by means of Compensation, an advantage to the detriment of the mass.

G. Common Obligations of the Bankrupt

1. Bonds

¹ Debts arising out of the debts of the bankrupt may be filed in the bankruptcy even if the debt is not yet payable.

² The estate is subrogated to the creditor's rights against the principal and coerced to the extent of the dividend paid by it (art. 507 CO ² ). In the event of the bankruptcy of the principal or a coercing debtor, s. 216 and 217 are applicable.

2. Simultaneous Bankruptcy of Multiple Coobligates

¹ Where several persons engaged in the same debt are simultaneously in bankruptcy, the creditor may claim the entire debt in each of the bankruptcies.

² If the combined dividends are greater than the amount of the debt, the excess shall be vested in the masses who have paid beyond the part of which the bankrupt was held in respect of his coerced.

³ The various masses have no recourse against each other for the dividends paid by them, as long as the amount of the dividends does not exceed the sum owed to the creditor.

3. Account paid by a coobligor of the bankrupt

¹ Where a coobligation of the bankrupt has paid a deposit on the debt, the debt is nevertheless accepted as a liability for the primitive amount, even if the coercer would not have recourse against the bankrupt.

² The right to file in bankruptcy rests with the creditor and the coerctor.

³ The creditor receives the dividend to the extent of its claim; the excess amounts to the coobligation for the dividend in respect of its right of recourse, to the mass for the surplus.

4. Simultaneous interest of the partnership, the limited partnership and their partners

¹ Where a partnership and a partner are simultaneously in bankruptcy, the creditors of the partnership cannot claim in the partner's bankruptcy that the sum for which they are returned losers in that of the partnership. Art. 216 and 217 are applicable to the payment of this balance by the various partners.

² If one of the partners goes bankrupt without the bankruptcy of the corporation, the creditors of the partnership are admitted to the liability for the full amount of their debts and the estate of the partner is subrogated as described in s. 215.

³ The s. 1 and 2 shall apply by analogy to the partners indefinitely liable for a limited partnership. ¹

H. Order of creditors

¹ Guarantees secured by pledge are collozed in preference to the proceeds of the pledge. ¹

² Where a claim is secured by several pledges, the proceeds shall be charged in proportion to the debt.

³ The order of guaranteed real estate claims, as well as the extension of this guarantee to interest and other accessories, are regulated by the provisions on the guarantee of immovable property. ²

⁴ Unsecured claims, as well as secured claims which have not been covered by the pledge, are colloked in the following order on the proceeds of other assets of the mass: ³

First Class

A. ⁴

Claims which the worker may claim under the contract of employment and who were born or became due during the six months preceding the opening of the bankruptcy or subsequently, in total up to the maximum annual amount of the Guaranteed gain in compulsory accident insurance;

A ^Bis . ⁵ Claims that the worker can claim in restitution of security rights;

A ^Ter . ⁶ Claims that the worker can claim under a social plan that arose or became payable during the six months preceding the commencement of the bankruptcy or later.

B.

The rights of insured persons as defined in the Federal Act of 20 March 1981 on accident insurance ⁷ As well as the claims arising from the non-compulsory occupational foresight and the claims of the provident institutions vis-à-vis affiliated employers;

C. ⁸

Maintenance and food claims arising from family law, as well as financial claims for maintenance arising from the partnership law of 18 June 2004 ⁹ If these claims were born within the six months preceding the commencement of the bankruptcy.

Second Class ¹⁰

A.

The claims of persons whose fortunes were placed under the administration of the bankrupt under the parental authority, for the amount owed to them by that head.

These claims benefit from the privilege only if the bankruptcy was declared during the exercise of parental authority, or in the following year;

B.

The claims of contributions within the meaning of the Federal Act of 20 December 1946 on old-age and survivors' insurance ¹¹ , of the Federal Disability Insurance Act of June 19, 1959 ¹² , of the Federal Act of 20 March 1981 on accident insurance, of the Federal Act of 25 September 1952 on the scheme of allowances for loss of gain in favour of persons serving in the army, in civil service or in civil protection ¹³ And the Unemployment Insurance Act of 25 June 1982 ¹⁴ ;

C.

Claims for premiums and participation in social health insurance costs;

D.

Contributions and contributions due to family allowance compensation funds;

E. ¹⁵

...

F. ¹⁶

Deposits referred to in s. 37 A Of the Act of 8 November 1934 on banks ¹⁷ .

Third class

All other claims. ¹⁸

⁵ Within the time limits fixed for first and second class claims, are not counted:

1.

The length of the agreed procedure preceding the opening of the bankruptcy;

2.

The duration of a trial relating to the debt;

3.

In the event of liquidation of an estate by bankruptcy, the time elapsed between the date of death and the decision to proceed with the winding-up. ¹⁹