IntroductionRevocation of temporary composition moratoriumAppeal againts final composition moratoriumComment

Introduction

Introduction
Measures against abusive insolvencies

Licences – whether relating to technologies, trademarks, images, audiovisual materials or software – are increasingly important corporate assets. The insolvency of a licensor or licensee can have diverse implications for the fate of those assets, depending on factors such as place of jurisdiction, applicable law, the insolvency mechanisms available and their effect on such agreements.

What effect does a licensor filing for insolvency have on a licence?

On October 14 2015 the Federal Council published a revision project for the Private International Law Act regarding the recognition and coordination of foreign bankruptcy proceedings in Switzerland.

Current situation

A foreign insolvency decree can be recognised in Switzerland, at request of the foreign liquidator or a creditor, only if:

Introduction

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)

A creditor of a debt in Switzerland can file a debt collection request against the debtor to enforce its claim. The debt collection proceedings will eventually lead to the seizure of the debtor's assets. If the enforcement proceedings are unsuccessful and the debtor's assets are insufficient to cover the creditor's claim, the debt collection authorities will issue a loss certificate confirming the part of the claim which was not covered by the proceeds.

Loss certificate

Drawing on the experiences gained from the Swissair grounding in 2001, many critical voices have been raised that Swiss insolvency law should be revised and should focus more on the restructuring of companies rather than their liquidation. Now, 12 years after the commencement of the Swissair insolvency proceedings and after various discussions and negotiations in the Swiss parliament, the revised Swiss insolvency law finally entered into force as of 1 January 2014.

Introduction
Facts
Decision
Comment

Introduction