The pledging of claims, securities or other rights is governed by the law chosen by the parties. This choice of law cannot be asserted against third parties.
In the absence of a choice of law, the pledging of claims is governed by the law of the state of the pledgee’s habitual residence. The same applies to the pledging of other rights, provided they are represented by an uncertificated security, a certificated security or an equivalent instrument; otherwise, the pledging of such rights is governed by the law applicable to them.1
A law other than the one governing the pledged right cannot be asserted against the debtor.
Footnotes
Amended by No I 3 of the FA of 25 Sept. 2020 on the Adaptation of Federal Law to Developments in Distributed Ledger Technology, in force since 1 Feb. 2021 (AS 2021 33;BBl 2020 233). ↩
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