Switzerland: Switzerland ratifies the Hague Trust Convention on 20 December 2006

Abstract

After running out of time on 19 December to debate the ratification of the Hague Convention of 1 July 1985 on the Law Applicable to Trusts and on their Recognition (Convention No. 30), the Lower House of the Swiss Federal Parliament on 20 December (the final sitting day prior to the Christmas break) approved the ratification of the Convention by the Federal Council. Parliament adopted bill 05.088 signed in final form on 20 December. Its principal objective is to make the necessary amendments to the Federal Law of 18 December 1987 on Private International Law, which will provide for rules on identifying the domicile or seat of a trust (Article 21) and—inter alia—special rules on the definition of a trust, jurisdiction and in particular the recognition of foreign court decisions (Articles 149a–e). Critically, the bill also amends the Federal Law of 11 April 1889 on Debt Enforcement and...