Der Konkurs der weltweit siebtgrössten Containerreederei Hanjin erschüttert gegenwärtig den Welthandel. Es wird angenommen, dass Güter im Wert von ca. USD 14 Milliarden auf den Schiffen dieser Reederei blockiert sind bzw. blockiert waren. Die Bemühungen um eine Freigabe dieser Waren laufen, doch stellen sich dabei erhebliche Probleme.
The insolvency of the container shipping company Hanijn freezes cargo on vessels and ports in amount of USD 14 Billions. Worldwide, all concerned parties try to defreeze their cargo and face complex legal problems.
Swiss companies must now analyse the implications of these problems in Switzerland which can be outlined as follows (see in detail Raphael Brunner, KOLT-Newsletter, in German):
The Swiss Federal Council presented to parliament its dispatch for a reform of Swiss corporate law. The draft Act amending the Swiss Code of Obligations (Draft Act) seeks to modernize corporate governance by strengthening shareholder rights and promoting gender equality on corporate boards and senior management. It also replaces the provisions of the (interim) Ordinance on Excessive Compensation (Minder-Ordinance) by a federal act of parliament with only a few changes.
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.
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”).
The standard debt enforcement process
Continuing with our focus on the issues surrounding insolvency and restructuring, Lawyer Monthly speaks to Daniel Hayek, a member of the management committee of Prager Dreifuss Ltd. Prager Dreifuss is an integrated law firm in Switzerland with a strong international focus, some 40 lawyers, and offices in Zurich, Berne and Brussels.
The Swiss Federal Assembly has passed the revised Swiss restructuring law in the closing vote of 21 June 2013. The referendum deadline has expired uncalled on 10 October 2013. The primary aim of the partial revision of the Swiss Debt Enforcement and Bankruptcy Act is to facilitate restructurings.