On April 16, 2020, the Swiss Federal Council enacted the COVID-19 Insolvency Ordinance. One of its main goals is to relieve pressure on executive bodies of Swiss entities to request the opening of insolvency proceedings. Relief is targeted at overindebtedness situations caused by negative impacts of the COVID-19 pandemic on liquidity, earnings and going-concern prospects. Further, the Swiss Federal Council put in place a special COVID-19 moratorium.
April 2020
138Newsletter No.
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As announced on 9 April 2020, the Swiss Government today adopted measures to prevent a wave of bankruptcies as a result of the COVID-19 pandemic. At the heart of the measures is the suspension of the duty to notify the court in the event of over-indebtedness and a new moratorium designed for SMEs (COVID-19 Moratorium).
Newsletter No. 138 April 2020
Der Bundesrat hat aufgrund der ausserordentlichen Lage mit Bezug auf die Corona-Pandemie den Rechtsstillstand im Betreibungswesen angeordnet. Dieser Rechtsstillstand gilt vom 19. März 2020 bis am 4. April 2020. Im unmittelbaren Anschluss daran beginnen die gesetzlichen Betreibungsferien, welche vom 5. April bis am 19. April 2020 dauern. Im Folgenden beantworten wir einige praktische Fragen zum Betreibungs- und Konkursrecht in Zeiten der Corona-Krise.
1. Was bedeutet Rechtsstillstand?
What do I need to know as the member of a Swiss board of directors in times of the coronavirus?
The spread of the coronavirus (SARS-CoV-2) is causing turnovers to crash and is plunging the Swiss economy into an unprecedented crisis. If the board of directors fails to respond to this crisis, its members risk becoming liable.
Here you will find the answers to the six most important questions regarding a Swiss board member's duties in the wake of the corona crisis:
Key takeaways:
Um was geht es?
Dieser Artikel beschreibt in Kürze das freiwillige Liquidationsverfahren einer Gesellschaft aufgrund eines Sonderbeschlusses seiner Aktionäre.
Was muss ich tun?
Beschlussfassung der Gesellschafter
As Switzerland maintains a quite strict legal regime governing the director’s liability, it is immanent for each person holding a board function to know the rules and risks as well the legal consequences in this respect. During the last couple of years Switzerland has introduced various new rules influencing the director’s liability (new transparency rules for management compensations in listed companies, a comprehensive revision of the audit legislation and new statutory rules governing financial accounting), which are mainly applicable for listed companies.
