Decision of the Obergerichts Genf dated 7 October 2016 [C/22966/2015]
Kaiser Odermatt und Partner AG successfully appeals against a decision of the first instance court in Geneva. The Higher Court of Geneva reversed the decision of the lower instance court and ruled that in a process regarding the determination of new assets acc. to art. 265a par. 4 of the Swiss Federal Law on Debt Collection and Bankruptcy the plaintiff is lawfully entitled to request the defendant to provide security for party costs. Precondition is the presence of cause acc. to art. 99 par. 1 of the Swiss Civil Procedure Code (CPC) and the absence of grounds for exclusion acc. to art. 99 par. 3 CPC. In a simplified procedure acc. to art. 243 par. 1 CPC against a formerly bankrupt debtor the Higher Court considered the preconditions to be fulfilled and condemned the plaintiff to provide security for the party costs amounting to 25% of the litigation value.