Key takeaways:

Key Takeaways:

In view of the extraordinary situation with regard to the corona pandemic, the Federal Council has ordered a temporary stay of debt enforcement. This stay of enforcement is valid from 19 March 2020 until 4 April 2020, and will be immediately followed by the statutory enforcement holidays, which last from 5 April until 19 April 2020. Below, we will answer some practical questions on debt enforcement and bankruptcy law in times of the corona crisis.

As a result of the coronavirus disease (COVID-19) pandemic (SARS-CoV-2), many companies will find themselves in financial difficulties. The Swiss government has already taken various measures to ease the burden on companies, including a financial assistance program of up to CHF 40 billion, and is considering further measures.

On 8 April 2020, the Federal Council affirmed its willingness to offer support for companies in financial difficulties because of the coronavirus crisis. At the same time, the Federal Council decided not to extend the legal standstill in civil and administrative court proceedings and in debt enforcement actions. The legal standstill will end as planned on 19 April 2020 at midnight.

Introduction

Kommt ein Schuldner seinen Verpflichtungen nicht nach, so muss der Gläubiger ein Zwangsvollstreckungsverfahren in die Wege leiten. Dies geschieht in der Regel mit der Einreichung eines Betreibungsbegehrens beim zuständigen Betreibungs- und Konkursamt. Obschon das Stellen eines Betreibungsbegehrens trivial erscheint, führt dies in der Praxis immer wieder zu Rechtsstreitigkeiten, im Rahmen welcher ein - gestützt auf ein fehlerhaft formuliertes Betreibungsbegehren erlassener - Zahlungsbefehl aufgehoben oder gar dessen Nichtigkeit festgestellt wird.

The general view in Switzerland is that cryptocurrencies are intangible assets sui generis and as such can be subject to regular debt enforcement and insolvency proceedings in Switzerland (provided that these cryptocurrencies have a financial value).

This article highlights the particularities to be considered when cryptocurrencies are the target of an attachment procedure (ie, a freezing order) in Switzerland.

Attachment

The following must be established to obtain an attachment in Switzerland:

Die neue Verordnung kurz zusammengefasst:

At the press conference of Friday, 20 March 2020, the Federal Council informed on an additional package of measures to cushion the economic consequences of the spread of the coronavirus (COVID-19).

In order to remedy liquidity bottlenecks that continue to exist despite short-time working compensation at companies affected by the forced closure and demand shortages, the Federal Council announced additional support measures.

In addition to: