(PILA)

1 Where the as­sets of the trust are re­gistered in the name of the trust­ee in the land re­gister, the ships re­gister or the air­craft re­gister, ref­er­ence to the trust re­la­tion­ship can be made by adding a note.

2 Trust re­la­tion­ships af­fect­ing in­tel­lec­tu­al prop­erty rights re­gistered in Switzer­land shall be re­cor­ded on re­quest in the rel­ev­ant re­gister.

3 A trust re­la­tion­ship that is not noted or re­cor­ded is not en­force­able against third parties act­ing in good faith.

Art. 149e

V. For­eign de­cisions

1 For­eign de­cisions on mat­ters con­cern­ing trust law are re­cog­nised in Switzer­land:

a. if they were rendered by a court that was val­idly des­ig­nated pur­su­ant to Art­icle 149b para­graph 1;

b. if they were rendered in the state in which the de­fend­ant was dom­i­ciled, ha­bitu­ally res­id­ent or had their es­tab­lish­ment;

c. if they were rendered in the state in which the trust had its seat;

d. if they were rendered in the state whose law ap­plies to the trust; or

e. if they are re­cog­nised in the state in which the trust has its seat, provided the de­fend­ant was not dom­i­ciled in Switzer­land.

2 Art­icle 165 para­graph 2 ap­plies by ana­logy to for­eign de­cisions re­lat­ing to claims re­gard­ing pub­lic is­sues of equity or debt se­cur­it­ies based on pro­spect­uses, cir­cu­lars or sim­il­ar pub­lic­a­tions.