Kernrechtsfrage
Whether the pledgee had standing to file an objection against the seizure under Art. 278 LP.
Extrahierter Entscheid
The pledgee could be regarded as directly affected and therefore entitled to object.
Extrahierte Begründung
The cantonal court could rely on the pledgee’s mediacy possession and on the fact that its rights were touched by the seizure. The appellant’s contrary reading was not based on a clear and undisputed rule and was therefore not arbitrary.