IFLR: New law for the recogntion of foreign insolvency decrees in Switzerland
In international insolvencies, the insolvency administrator and creditors have to look for assets of the debtor in foreign jurisdictions. To what extent this is possible depends on the local legal framework. Switzerland applies the concept of territoriality according to which foreign bankruptcy decrees need to be formally recognised. Because in practice the strict legal requirements have sometimes made the recognition of a decree difficult, Swiss legislation has now been revised.
A new law removes some of the major burdens and will facilitate the recognition of foreign insolvency decrees. The practical implications of this new law will still have to be looked into.
The Insolvency Review 2018: Switzerland
In the 2018 edition “The Insolvency Review” Daniel Hayek and Laura Oegerli give a comprehensive overview of the most important aspects of Swiss insolvency law and the newest developments in this area.
The Restructuring Review – Switzerland
Daniel Hayek and Chantal Joris published the Swiss chapter in the latest edition of The Restructuring Review. In this chapter, the authors give an overview of the distinctive features of Swiss restructuring laws.
Subordination at the Interface of Finance and Insolvency Law
The IFLR contribution of Daniel Hayek and Chantal Joris of Prager Dreifuss follows Daniel Hayek’s lecture held in February 2018 at the 6th Zurich Convention on Bankruptcy and Restructuring. The paper considers different types of subordination at the interface of finance and insolvency law based on the most recent cross-border cases handled.
Daniel Hayek: Speaker at the 6th Zurich Convention on Bankruptcy and Restructuring: Recent Practice of Insolvency Law
Daniel Hayek was a speaker at the 6th Zurich convention on bankruptcy and restructuring organised by the Europa Institute at the University of Zurich (EIZ) in February 2018. His presentation addressed the subordination of loans and their effect in the insolvency of the parties involved.