OR Art. 1159 -

Einleitung zur Rechtsnorm OR:

The Swiss Code of Obligations is a central code of Swiss civil law that regulates the legal relationships between private individuals. It includes five books that cover various aspects of contract law, law of obligations and property law, including the formation, content and termination of contracts, as well as liability for breach of contract and tort. The Code of Obligations is an important code of law for business and everyday life in Switzerland, as it forms the basis for many legal relationships and contracts and has been in force since 1912, whereby it is regularly adapted to social and economic developments.

Art. 1159 OR from 2024

Art. 1159 In general

¹ The representative has such powers as are conferred on him by law, the bond issue conditions or the creditors’ meeting.

² His duties are to request that the borrower convene a creditors’ meeting where the conditions for such convocation obtain, to implement its resolutions and to represent the community of creditors within the bounds of the powers conferred on him.

³ To the extent that the representative is authorised to assert the creditors’ rights, the individual creditors are not entitled to exercise their rights independently.