Switzerland is known for its efficient legal system and pro-enforcement stance. However, if you are a foreign insolvency practitioner handling bankruptcy proceedings with ongoing litigation in Switzerland, you may face some procedural hurdles.
This article outlines the effects of a foreign bankruptcy decree in Switzerland and explores the available options to initiate or continue litigation.
WHAT HAPPENS?
Foreign insolvency practitioners are barred from litigating without prior recognition
In a recent decision, the Swiss Federal Supreme Court has clarified equitable subordination risks in connection with shareholder loans. The key takeaways are as follows:
Am 1. Januar 2025 ist das Bundesgesetz über die Bekämpfung des missbräuchlichen Konkurses in Kraft getreten. Das Bundesgesetz hat auch zu Anpassungen verschiedener Gesetze, darunter des Obligationenrechts und der Handelsregisterverordnung geführt. Nachstehend werden die wichtigsten Änderungen des Obligationenrechts und der Handelsregisterverordnung zusammengefasst.
Änderungen beim Opting-Out
Distressed transactions increasingly mark the Swiss M&A landscape. An important piece in the Swiss restructuring toolbox is the sale of parts or all of the business under court supervision during a composition moratorium. It has been used successfully in an increasing number of cases recently. Typically, the relevant part of the business is pre-packed – structured and prepared for sale – before being sold with court approval. As we anticipate more distressed M&A transactions in 2025, it is worthwhile exploring the intricacies and implications of the Swiss pre-pack.
In diesem Beitrag haben wir uns für Sie mit den wichtigsten Updates und der aktuellen Rechtsprechung im Bereich des Schuldbetreibungs- und Konkursrechts von diesem Jahr auseinandergesetzt. Welche Auswirkungen dies für Sie haben kann, erfahren Sie in diesem Beitrag.
Eintragungen in ausländischen Handelsregistern sind keine notorischen Tatsachen
Im BGE 150 III 209 vom 3. April 2024 hatte das Bundesgericht zu beurteilen, ob eine Eintragung eines ausländischen Handelsregisters als eine notorische Tatsache zu qualifizieren ist.
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.
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.
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.