20 March 2018
I don't agree with the schedule of claims – what now?
Schedule of claims – What is it all about?
Once bankruptcy proceedings have been opened over a debtor, the bankruptcy administration must prepare an inventory to determine the extent of the bankruptcy estate. By means of public notice, the creditors and debtors of the bankrupt are requested to come forward (so-called call for claims). Within one month, the creditors must file their claims or other demands against the bankrupt with the bankruptcy administration. Subsequently, the bankruptcy administration draws up a list of claims.
The bankruptcy administration checks the registered claims and decides whether it recognizes them and, if so, in what amount and rank. Based on these decisions, it draws up the schedule of claims. It is a schedule showing the order in which the claims of the various creditors should be satisfied. The rejected demands are also marked on the schedule of claims, together with the reason for the rejection.
12 March 2018
Legal data management within a group
Personal data is increasingly an indispensable basis for the value adding activities of companies. Within a group, personal data is exchanged for various purposes, with data protection requirements applying. Legal data management ideally sets standards for how the entire group of companies processes personal data but this is often difficult to implement in practice. An affected group company should not wait for a possible group decision, but should actively promote legal data management at company level.
05 March 2018
Pitfalls for Swiss industrial companies in derivative trading
FMIA as part of global derivative regulation
Since 1 January 2016, the Swiss Financial Market Infrastructure Act (FMIA) has been in force. Among other things, the FMIA implements the worldwide regulation of the derivative market in Switzerland, which was the intention of the G20 summit in Pittsburgh in 2009. It contains numerous obligations for Swiss companies both in and outside the financial sector. With its Guidance 5/2017, FINMA extended the transitional periods for the fulfillment of the mandatory derivative reporting obligation in accordance with the FMIA for so-called NFC- until 1 January 2019. What does this mean for Swiss industrial companies?