This article explains why the purchase of a shell company should be avoided today and even more so in the future under the new law, and that the formation of a new company is preferable when setting up a business (start-up).
At the end of this article, the possible effects of the revision of the law on legitimate transactions with company shares will also be discussed.
Seeking sound legal advice is therefore worthwhile both when founding a new company and when taking over an operating company.
Im Entscheid vom 23. November 2023 (PS230150) hatte sich das Obergericht des Kantons Zürich mit der Frage der Lokalisierung von Kryptowährungen (Zahlungs-Token) im Kontext von Art. 167 f.
In its decision of 6 May 2024, the Swiss Federal Supreme Court (SFSC) clarifies the conditions for a claimant to appeal an interim decision ordering it to provide security for the defendant’s costs due to appearing insolvent or having liquidity problems (case No. 4A_93/2024 [in German]; intended for official publication).
Monthly Newsletter July 2024
Restructuring and Insolvency
Les hpitaux aux urgences La procdure concordataire comme possible outil d'assainissement
Josef Caleff, Olivia Wipf
Key Take-aways
1. De plus en plus d'hpitaux suisses se trouvent dans une situation financire difficile en raison de l'augmentation des cots.
2. Le conseil d'administration, en tant qu'organe de direction suprme d'un hpital organis sous forme de socit anonyme, est tenu d'examiner et, le cas chant, si ncessaire, de prendre des mesures d'assainissement.
Monthly Newsletter July 2024
Restructuring and Insolvency
Spitler auf der Notfallstation das Nachlassverfahren als mgliches Sanierungsinstrument
Josef Caleff, Olivia Wipf
Key Take-aways
1. Immer mehr Schweizer Spitler befinden sich aufgrund steigender Kosten in einer finanziellen Notlage.
2. Der Verwaltungsrat als oberstes Fhrungsorgan eines als Aktiengesellschaft organisierten Spitals ist verpflichtet, Sanierungsmassnahmen zu prfen und ntigenfalls zu ergreifen.
Monthly Newsletter July 2024
Restructuring and Insolvency
Hospitals in the emergency room debt restructuring proceedings as a possible restructuring instrument
Josef Caleff, Olivia Wipf
Key Take-aways
1. More and more Swiss hospitals are finding themselves in situations of financial distress due to rising costs.
2. It is the duty of the board of directors as the highest management body of a hospital organized as a Swiss stock corporation to assess and, if necessary, adopt restructuring measures.
When a contracting party declares bankruptcy, it is crucial to grasp the implications for existing contracts. This article highlights the most important legal ramifications for the non-bankrupt parties involved.
Continuation or Termination
Switzerland has a reputation for high-quality banking – holding significant foreign assets and offering a fairly pro-enforcement regime. However, gaps between the different legal cultures means recovering Swiss assets to satisfy foreign judgments from common law jurisdictions may be difficult . Here, we investigate possible solutions.
Supreme Court Case 5A_999/2022 dated 20 February 2024
Alexander Vogel and Marc Baumberger, MLL Legal
This is an extract from the 2024 edition of GRR's Europe, Middle East and Africa Restructuring Review. The whole publication is available here.
For a foreign decree to be recognisable in Switzerland, it is according to the Swiss International Private Law Act, required that the foreign bankruptcy decree is enforceable in the state where it was issued, and there must not be any grounds for refusing recognition, e.g. a violation of Swiss public policy. Furthermore, the decision must have been issued either in the state where the debtor has its seat or domicile or in the state where the debtor has its centre of main interests.