Federal Act
on the Amendment of the Swiss Civil Code
(Part Five: The Code of Obligations)

¹ A per­son to whom as­sets or a busi­ness with as­sets and li­ab­il­it­ies are as­signed auto­mat­ic­ally be­comes li­able to the cred­it­ors of the debts en­cum­ber­ing such as­sets or busi­ness on no­ti­fic­a­tion of the as­sign­ment to the cred­it­ors by him or by pub­lic­a­tion in of­fi­cial journ­als.

² However, the pre­vi­ous debt­or re­mains jointly and sev­er­ally li­able with the new debt­or for three years, com­men­cing on the date of no­ti­fic­a­tion or pub­lic­a­tion in the case of claims already due and on the ma­tur­ity date in the case of claims fall­ing due sub­sequently.⁶⁶

³ In oth­er re­spects, an as­sump­tion of debt of this kind has the same ef­fect as the as­sump­tion of an in­di­vidu­al debt.

⁴ The takeover by as­sign­ment of as­sets or busi­nesses of com­mer­cial en­ter­prises, co­oper­at­ives, as­so­ci­ations, found­a­tions or sole pro­pri­et­or­ships re­gistered in the com­mer­cial re­gister is gov­erned by the pro­vi­sions of the Mer­gers Act of 3 Oc­to­ber 2003⁶⁷.⁶⁸