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The Debt-Restructuring Moratorium under COVID-19

The Debt-Restructuring Moratorium under COVID-19

What is a debt-restructuring moratorium?

Since 20 April 2020, both the judicial and debt collection pauses have ended. The legal standstill decreed by the Swiss Federal Council in accordance with Art. 62 of the Debt Enforcement...

COVID-19 Deferral of Bankruptcy Filing in Switzerland

COVID-19 Deferral of Bankruptcy Filing in Switzerland

Due to the COVID-19 crisis, many companies in Switzerland could face bankruptcy. Every board of directors must take action in the corona crisis (see our blog posts "What do I need to know as the member of a Swiss board of...

COVID-19 and Duties of a Swiss Subsidiary's Directors

COVID-19 and Duties of a Swiss Subsidiary's Directors

The COVID-19 pandemic induced crisis is a challenge for every director of a Swiss company (see our blog post "What do I need to know as the member of a Swiss board of directors in times of the coronavirus?"). The situation for the...

"Help is on the way" - The Swiss COVID-19 Insolvency Law Ordinance

"Help is on the way" - The Swiss COVID-19 Insolvency Law Ordinance

On April 20, 2020, the Swiss COVID-19 Insolvency Law Ordinance (only German) came into force, after an emergency legal freeze ended on April 19, 2020 (see our blog post "Federal Council orders a nationwide stay of debt enforcement...

Payments, reminders and debt enforcement: guidelines for startups

Payments, reminders and debt enforcement: guidelines for startups

You have founded a startup company and you want to conquer the market with a great product or service. When the first customers don't pay on time, however, menacing clouds are starting to appear on the horizon. Failing incoming payments can squeeze your cash flow and, as a result, you might become unable yourself to settle all your payments on time. In either case, taking an efficient approach conscious of the legal framework gives you a big advantage.

Relocation of business activities abroad: Tax consequences and risks

Relocation of business activities abroad: Tax consequences and risks

Businesses nowadays structure their value chain globally. In doing so entire operations, but sometimes only individual functions (sales activities, services provided etc.), can be transferred within a group; often across borders. Such relocations of functions within a group usually occur free of compensation and have so far rarely been taxed. Nevertheless, a cross-border business restructuring can already under the current legislation lead to tax consequences; particularly, if the transferring company is not compensated in line with market conditions.

Modernised Swiss regime for cross-border insolvencies

Modernised Swiss regime for cross-border insolvencies

Cross-border insolvencies are often complicated and time-consuming. In the regulated financial sector, significant efforts have already been made in Switzerland and internationally to streamline these processes and to facilitate cooperation between the relevant authorities across jurisdictions. Forthcoming changes to the Swiss Law on Private International Law (PILA) seek to modernise the general regime applicable in Switzerland to cross-border insolvencies outside of the regulated financial sector. The revised rules are expected to enter into force at some point in 2019.

I don't agree with the schedule of claims – what now?

I don't agree with the schedule of claims – what now?

Schedule of claims – What is it all about?

Once bankruptcy proceedings have been opened over a debtor, the bankruptcy administration must prepare an inventory to determine the extent of the bankruptcy estate. By means of public notice, the creditors and debtors of the bankrupt are requested to come forward (so-called call for claims). Within one month, the creditors must file their claims or other demands against the bankrupt with the bankruptcy administration. Subsequently, the bankruptcy administration draws up a list of claims.

The bankruptcy administration checks the registered claims and decides whether it recognizes them and, if so, in what amount and rank. Based on these decisions, it draws up the schedule of claims. It is a schedule showing the order in which the claims of the various creditors should be satisfied. The rejected demands are also marked on the schedule of claims, together with the reason for the rejection.

Does Digitisation Lead to Fewer Bankruptcies?

Does Digitisation Lead to Fewer Bankruptcies?

Due to the increasing competition by online shops, the digital revolution has often been associated with an increase in bankruptcies. However, digitisation can also help reduce the risk of insolvency and thus the number of bankruptcies.

How secure are my bank account balances if the bank declares bankruptcy?

How secure are my bank account balances if the bank declares bankruptcy?

Privileged deposits

If bankruptcy proceedings are opened against a Swiss bank or a Swiss securities dealer (hereinafter collectively referred to as "Bank"), deposits by natural and legal persons, up to a maximum amount of CHF 100,000 per person and Bank, are treated as privileged.

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