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.

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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.

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27 July 2017

How secure are my bank account balances if the bank declares bankruptcy?

Privileged deposits
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.

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VISCHER AG, Zürich
Schützengasse 1, Postfach 1230, 8021 Zürich
Tel. +41 58 211 34 00, Fax +41 58 211 34 10

VISCHER AG, Basel
Aeschenvorstadt 4, Postfach 526, 4010 Basel
Tel. +41 58 211 33 00, Fax +41 58 211 33 10

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