14 September 2017
Reduction in workforce before and during insolvency
In order to avoid insolvency, companies facing financial difficulties often consider a reduction in workforce to reduce personnel costs (i.e., dismissals for economic reasons). If the workforce is reduced significantly, a special mandatory procedure needs to be complied with.Read more
22 August 2017
Does Digitisation Lead to Fewer Bankruptcies?
Due to the increasing competition by online shops, the digital revolution has often been associated with an increase in bankruptcies. However, digitisation can also help reduce the risk of insolvency and thus the number of bankruptcies.Read more
27 July 2017
How secure are my bank account balances if the bank declares bankruptcy?
If bankruptcy proceedings are opened against a Swiss bank or a Swiss securities dealer (hereinafter collectively referred to as "Bank"), deposits by natural and legal persons, up to a maximum amount of CHF 100,000 per person and Bank, are treated as privileged. The privilege covers deposits denominated in the name of the Bank customer, including medium term bonds deposited with the Bank in the name of the Bank customer. This includes, in particular, deposits from Bank customers on private, savings, investment, and current accounts. The privilege is linked to the claim and thus applies irrespective of the nationality or the domicile of the Bank customer. It applies to deposits at both Swiss and foreign branches of the Bank.