Avoidance Actions – What are they?
Debtors may be tempted to protect assets from access by a possible foreclosure. The avoidance action (also called "Pauliana") gives the bankruptcy administration, and under certain conditions the creditors, the opportunity to challenge such legal acts of the debtor. Upon approval of the actions, the assets will be foreclosed.
Der Basler ZPO-Tag 2017 vom 3. November 2017 (Programm) befasste sich mit aktuellen praktischen Fragen und Neuerungen rund um die verschiedenen zivil-prozessrechtlichen Verfahren und die Vollstreckung. Für Gläubiger wie auch Schuldner sind insbesondere der Wegfall des Gefährdungserfordernisses beim Arrest gestützt auf Urteile sowie neue Tendenzen bei der Verjährungsunterbrechung durch Betreibung von Bedeutung.
The Swiss government presented a draft bill in May 2017 which was approved by the Swiss Council of States in December 2017 with very few amendments. The revised law could be effective as from 1 January 2019 if the Swiss National Council approves the revision this year.
Key changes include:
On 16 March 2018, the Swiss Parliament adopted the revision of the international insolvency provisions of the Swiss Private International Law Act ("PILA"). Such revision particularly aims at simplifying the recognition of foreign insolvency proceedings in Switzerland which shall lead to a reduction of costs and improved efficiency. The revised PILA is now subject to an optional referendum.
Zu Unrecht erhobene Betreibungen können für Privatpersonen und Gesellschaften zu schweren Konsequenzen führen: Banken z.B. können aufgrund eines Eintrags im Betreibungsregister eine Finanzierung verweigern und Vermieter Personen als potentielle Mieter ablehnen. Mit der geplanten Änderung gewisser Bestimmungen des SchKG will der Bund die Situation für den unrechtmässig Betriebenen endlich erleichtern.
1. Applicable Law
1.1.1 On 1 January 2011 Switzerland faced the dawn of a new era in litigation. Due to its federal state structure, until this date civil procedural law was regulated on a cantonal level with 26 civil procedure codes. Since 1 January 2011, the Swiss Civil Procedure Code (CPC) replaces the cantonal codes.
1.1.2 Interim measures are mainly governed by the CPC. In order to determine whether provisions other than the CPC are (also) applicable to an interim measure, the applicant has to check two issues:
Introduction
The insolvency proceedings for the Swissair companies have yet again proved to be one of the biggest and most important cases in the history of Swiss insolvency law. The Federal Supreme Court recently rendered a groundbreaking decision in the liquidation proceedings for SAirGroup and changed its jurisprudence regarding the legitimacy of an insolvent company's estate to claim for damages incurred by company creditors.
Introduction
Since January 22 2015 the Swiss National Bank has charged a negative interest rate (currently 0.75%) for sight deposit account balances that Swiss banks hold with the Swiss National Bank, provided that the sight deposit account balance exceeds a given exemption threshold.(1)
This decision is the latest development in the bitterly disputed enforcement case of a $932 million Swiss arbitration award confirmed by the United States District Court for the Southern District of New York in favor of a Dutch judgment creditor, Sonera Holding B.V. (“Sonera”), against a Turkish judgment debtor, Cukurova Holding A. (“Cukurova”).