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Daniel Hayek

Partner

Chief Executive Officer

Position: Partner
Practice Areas: Banking & Finance , Capital Markets , Corporate & M&A , Dispute Resolution , Insolvency & Restructuring , Venture Capital
Field-Display: Banking & Finance Maincontact , Capital Markets Team , Corporate & M&A Maincontact , Dispute Resolution Team , Insolvency & Restructuring Maincontact , Venture Capital Maincontact , Management

Daniel Hayek is chairman of the board and head of several specialist teams. He focuses on acquisitions of Swiss companies by large strategic buyers as well as on debt restructuring and bankruptcy law. He also specializes in mergers, corporate finance, acquisitions, banking and finance as well as corporate law issues. Daniel Hayek advises clients on all types of domestic and cross-border transactions, including financing and real estate transactions. He also assists banks in acquisition financing.  

E-Mail

+41 44 254 55 55

Linkedin

VCard

Admission to the Bar

Admitted in Switzerland (1993) 

Practice Areas

  • Banking & Finance
  • Corporate & M&A
  • Insolvency & Restructuring

Education

  • New York University (LL.M., 1995)
  • University of Zurich (lic. iur., 1990)

Languages

  • German
  • English
  • French

Memberships

  • Zurich and Swiss Bar Association
  • International Bar Association
  • INSOL EUROPE

Assistants

Florina Berg
+41 44 254 55 39
florina.berg@prager-dreifuss.com

Leonie Meyer
+41 44 254 55 48
leonie.meyer@prager-dreifuss.com

„Leading lawyer in the field of insolvency and restructuring." — IFLR 1000 2020

"Daniel Hayek is a notable practicioner. He advises creditors on bankruptcy proceedings, with further experience in handling insolvency-related litigation." — Chambers Europe 2020

"The team is known for well versed restructuring and insolvency proceedings with complex international aspects, benefiting from a network of counsel in other jurisdictions and relationships with bankruptcy administrators and liquidators. Acts for creditors and other stakeholders, most notably banks and investment funds." — Chambers Europe 2020

„Very comprehensive approach to matters, hands-on and pragmatic problem-solver. He works reliably at an excellent quality and speed." — IFLR 1000 2020

„Highly regarded" — IFLR 1000 2020

Global Leader in Insolvency & Restructuring — Who's Who Legal 2020

National Leader in Insolvency & Restructuring — Who's Who Legal 2020

"Led by Daniel Hayek, the restructuring and insolvency practice of Prager Dreifuss AG is well versed in relevant proceedings and acting for creditors like banks, hedge funds or financial institutions. Hayek is noted for his experience in litigation." — Legal 500 2020

Publications

Subject: Insolvency & Restructuring
Autor: Daniel Hayek, Mark Meili
Paper: PD Newsletter
Reading time: 3 Min

Expiry of Measures against Bankruptcies – Revival of Duties of Board of Directors

Subject: Insolvency & Restructuring
Autor: Daniel Hayek, Mark Meili
Paper: The Restructuring Review

The Restructuring Review 2020: Switzerland

In the latest issue of "The Restructuring Review", Daniel Hayek and Mark Meili provide an overview of the special features of Swiss restructuring law, taking into account the latest legislative developments due to COVID-19.

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Label: Highlight
Subject: Loans / Covid 19
Autor: Daniel Hayek, Mark Meili
Paper: NZZ
Reading time: 4 Min

What comes after the bridging loan?

In the 15 June 2020 issue of the NZZ (New Journal of Zurich), Daniel Hayek and Mark Meili discuss the problems surrounding the repayment of the COVID-19 bridging loans and suggest an alternative approach to the repayment of the loans.

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Subject: Insolvency & Restructuring
Autor: Daniel Hayek, Mark Meili
Paper: Financier Worldwide

Financier Worldwide: Bankruptcy & Restructuring 2020

In the 2020 edition of the InDepth Feature: Bankruptcy & Restructuring 2020, Daniel Hayek and Mark Meili discuss the current economic situation in Switzerland in times of COVID-19 and its impact on corporate bankruptcies and insolvencies. Further, the authors provide an overview over recent legislative developments as well as the risks for managing directors and board members of companies in financial difficulties.

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Subject: Loans / Covid 19
Autor: Daniel Hayek, Mark Meili
Paper: PD Newsletter

New measures in case of imminent or identified over-indebtedness of companies

Last month we showed how companies can restructure and avoid bankruptcy if they run into financial difficulties due to the corona crisis. In the meantime, the Federal Council has enacted new measures to protect companies in the event of imminent or identified over-indebtedness, which are explained here by Daniel Hayek and Mark Meili.

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Subject: Corporate News
Autor: Daniel Hayek
Paper: Legal 500

Managing Partner Daniel Hayek of Prager Dreifuss on the dilemma of culture and change

Managing Partner Daniel Hayek talks in an interview with Legal 500 on the dilemma of culture and change.

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Subject: Loans / Covid 19
Autor: Daniel Hayek, Mark Meili
Paper: PD Newsletter

Consequences of the coronavirus - Contract adjustment and restructuring

With the outbreak of the coronavirus in Switzerland, various legal questions arise for companies, in particular with regard to the validity and amendment of contracts. If insolvency is imminent, measures to prevent bankruptcy are required. The following text provides an overview of the most important points in this context.

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Subject: Loans / Covid 19
Autor: Daniel Hayek

Our approach to COVID 19

Dear Clients, Alumni and Friends

As the global coronavirus (COVID-19) pandemic continues to unfold, the Swiss government has in sum taken the following measures: closed all schools, forbidden all public and private events, closed all restaurants, bars, shops (except food markets, pharmacies and banks) and all entertainment and leisure institutions. They have strongly recommended that everyone stays at home unless working in homeoffice is not possible, they need to go to a doctor’s appointment, grocery shopping or help someone in need.

We would like to share information about the steps Prager Dreifuss has taken to align the government’s efforts to delay the outbreak and to protect the health and safety of our clients, firm colleagues and their families while maintaining business continuity.

We will continue to support our clients‘ needs and navigate them through these challenging times and help them achieve their objectives.

Most employees work remotely from home. Our technical infrastructure is well prepared and everyone can continue working while converting to audio- or videoconferencing. The confidentiality, integrity and availability of all data is at all times secured by way of encription of all our devices.

Our reception and telephone desk is in operation every working day. In order to protect the health of our clients and employees, no meetings are held at our offices.

We will continue to monitor the situation closely and adapt our measures as necessary. We are confident to get through this exceptional situation with united forces and look forward to continuing working with and for you.

It is in such times that we are reminded that besides being your business partner, we are all members of the broader community and as such have a role to play in this evolving situation and we at Prager Dreifuss will do our part.

Stay safe and healthy!

Sincerely,

Prager Dreifuss Ltd.
Daniel Hayek
Chairman

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Subject: Banking & Finance
Autor: Daniel Hayek, Mark Meili
Paper: The International Comparative Legal Guide

The International Comparative Legal Guide: Project Finance 2020 Switzerland

In the 2020 edition of the International Comparative Legal Guide to Project Finance, Daniel Hayek and Mark Meili discuss common issues in project finance laws and regulations in Switzerland – including security, bankruptcy, restrictions on investments, insurance and arbitration.

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Subject: Insolvency & Restructuring
Autor: Daniel Hayek, Mark Meili
Paper: The Insolvency Review

The Insolvency Review 2019: Switzerland

Daniel Hayek and Mark Meili published the Swiss chapter in the latest edition of The Insolvency Review. In this chapter, the authors give an overview of the distinctive features of Swiss insolvency laws.

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Subject: Banking & Finance
Autor: Daniel Hayek, Mark Meili
Paper: IFLR

A guide to cross-border financing in Switzerland

Daniel Hayek and Mark Meili look at the rules, practicalities and latest developments in what continues to be a friendly environment for cross-border financing.

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Subject: Insolvency & Restructuring
Autor: Daniel Hayek, Mark Meili
Paper: The Restructuring Review

The Restructuring Review 2019: Switzerland

Daniel Hayek and Mark Meili 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.

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Subject: Insolvency & Restructuring
Autor: Daniel Hayek, Mark Meili
Paper: Financier Worldwide

Annual Review Bankruptcy & Restructuring

In the 2019 edition of the Annual Review of Bankruptcy & Restructuring, Daniel Hayek and Mark Meili discuss the current economic situation in Switzerland and its impact on corporate bankruptcies and insolvencies. Further, the authors provide an overview over recent legislative developments as well as trends in cross-border insolvencies.

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Subject: Banking & Finance
Autor: Daniel Hayek, Mark Meili
Paper: The International Comparative Legal Guide

The International Comparative Legal Guide: Project Finance 2019 Switzerland

In the 2019 edition of the International Comparative Legal Guide to Project Finance, Daniel Hayek and Mark Meili discuss common issues in project finance laws and regulations in Switzerland - including security, bankruptcy, restrictions on investments, insurance and arbitration.

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Subject: Insolvency & Restructuring
Autor: Daniel Hayek, Remo Wagner

The Subordination of Loans, in particular in the Insolvency of the Involved Parties

Subject: Dispute Resolution
Autor: Daniel Hayek, Mark Meili
Paper: IFLR

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.

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Subject: Insolvency & Restructuring
Autor: Daniel Hayek, Laura Oegerli
Paper: The Insolvency Review

The Insolvency Review: 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.

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Subject: Insolvency & Restructuring
Autor: Daniel Hayek, Chantal Joris
Paper: The Restructuring Review

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.

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Subject: Insolvency & Restructuring
Autor: Daniel Hayek, Chantal Joris
Paper: IFLR

Subordination an der Schnittstelle zwischen Finanzierung und Insolvenz

Der IFLR Beitrag von Daniel Hayek und Chantal Joris folgt dem Vortrag von Daniel Hayek anlässlich der 6. Zürcher Tagung zum SchKG im Februar 2018. Der Artikel betrachtet verschiedene Arten der Subordination an der Schnittstelle von Finanzierungen zum Insolvenzrecht basierend auf den jüngsten betreuten Projekten.

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Subject: Insolvency & Restructuring
Autor: Daniel Hayek

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.

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Autor: Daniel Hayek, Laura Oegerli
Paper: The Insolvency Review

Swiss Chapter on Insolvency Proceedings

In this chapter of "The Insolvency Review" Daniel Hayek and Laura Oegerli give a comprehensive overview of the most important aspects of Swiss insolvency law.

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Autor: Daniel Hayek, Alexander Flink
Paper: Getting The Deal Through

Joint Ventures 2018: Country Chapter Switzerland

Due to its competitive tax regime, the availability of qualified personnel, well developed service sector and geographical location, Switzerland is an excellent location for domestic and cross-border joint ventures. Daniel Hayek and Alexander Flink address the key questions in relation to joint ventures in Switzerland.  

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Autor: Daniel Hayek
Paper: Financier Worldwide

Bankruptcy & Restructuring Roundtable

Daniel Hayek and other expert panellists from reputable law firms share their thoughts on challenges, legal developments, cross-border issues, financing etc. in the increasingly important area of bankruptcy litigation and restructuring proceedings.

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Autor: Daniel Hayek
Paper: The Lawyer

Thought leader: insolvency and restructuring

Daniel Hayek gives an update on the current insolvency and restructuring landscape in Switzerland, recent case law and legislative changes to come.

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Autor: Daniel Hayek, Mark Meili
Paper: The Lawyer

Brexit: Why the UK may consider taking the Swiss approach

Daniel Hayek and Mark Meili discuss the impact of Brexit on jurisdiction clauses and consider that the UK may follow the Swiss approach to replace the Brussels regulation.

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Autor: Daniel Hayek, Alexander Flink
Paper: The Lawyer

The floating charge is no longer a foreign concept

Daniel Hayek and Alexander Flink discuss the option to create a "floating charge" over intermediated securities and the additional flexibility it provides in finance transactions.

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Autor: Daniel Hayek
Paper: International Financial Law Review IFLR

Strategies for Derivative Transactions in Times of negative Interest Rates

The authors discuss the impacts of negative interest rates on derivative transactions in light of new Swiss financial markets regulation. They outline potential risks for parties emanating from the new regulation and highlight similarities with the situation in the EU.    

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Autor: Daniel Hayek, Alexander Flink
Paper: Financier Worldwide

Market Outlook 2016 - Switzerland

Daniel Hayek shares his opinion on the outlook in the Swiss Market. Given that the international economy should improve gradually, he anticipates a moderate acceleration in economic growth in Switzerland over the next year. In view of this rather slow economic upturn, this year, the unemployment rate may slightly rise from the 3.3 percent recorded in 2015, but should start falling again in 2017. Turmoil on the global financial markets has led to excess capital inflow in Switzerland and pushed sovereign bond yields in Switzerland into negative territory. It is to be expected that until the end of 2016 or early 2017 Swiss bond yields will be positive again.

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Autor: Daniel Hayek, Dominik Skrobala
Paper: Financier Worldwide

The effect of the safe harbour ruling in Switzerland

In its landmark ruling of 6 October 2015, the European Court of Justice declared the EU Safe Harbour Framework invalid. Daniel Hayek, Dominik Skrobala and Chantal Joris discuss how the ruling affects Swiss businesses.

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Autor: Daniel Hayek, Alexander Flink
Paper: The Lawyer

Making Guarantees

Daniel Hayek and Alexander Flink are discussing the impact of a decision of the Swiss Federal Supreme Court dated 16 October 2014 on Swiss up-stream and cross-stream limitation language.

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Autor: Daniel Hayek, Chantal Joris, Christina Meyer
Paper: IFLR

Restructuring over liquidation

The authors provide a brief overview of the main novelties in the revised insolvency law. They analyse the impact of the revision on the creditors’ claims resulting from defaulted lease contracts in Swiss insolvency proceedings, drawing on examples of the treatment of aircraft lease agreements in the Swissair composition proceedings.

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Autor: Daniel Hayek, Alexander Flink
Paper: IFLR

IFLR Cross-Border Financing Report 2014 – Länderbericht Schweiz

Autor: Daniel Hayek
Paper: Financier Worldwide

Roundtable Bankruptcy Litigation

Bankruptcy matters come intertwined with complex issues, and the past few years have seen significant developments. Daniel Hayek and other expert panellists from reputable law firms share their thoughts on the most recent developments on international bankruptcy litigation matters.

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Autor: Daniel Hayek, Alexander Flink
Paper: IFLR

Who bears the risk?

Daniel Hayek and Alexander Flink discuss the differences between German and Swiss culpa in contrahendo liability in M&A.

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Autor: Urs Bertschinger, Daniel Hayek
Paper: IFLR

UBS Stabilisation explained

In an interview with International Financial Law Review (IFLR) Urs Bertschinger and Daniel Hayek explain how the November 2013 sale of the Swiss National Bank’s (SNB) StabFund to UBS worked and what this transaction in the amount of 3.762 billion USD means for Swiss Banks.

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Autor: Daniel Hayek
Paper: Lawyer Monthly

Insolveny and Restructuring

Daniel Hayek speaks to the magazine recent developments in the Swiss restructuring and insolvency market, advantages and disadvantages of restructuring programmes as opposed to insolvency and legal challenges and complexities arising when dealing with insolvency in our jurisdiction.

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Autor: Daniel Hayek, Alexander Flink
Paper: IFLR

IFLR Cross-Border Financing Report 2013 – Country Report Switzerland

At-a-glance overview of matters in connection with Switzerland related cross-border financing transactions, such as “10/20 non-banks rule”, guarantee limitations in case of up-stream and cross-stream guarantees and availability of specific types of security under Swiss law.

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Autor: Daniel Hayek
Paper: Financier Worldwide

Bankruptcy Roundtable Litigation

Six partners from international law firms answer questions on challenges, legal developments, cross-border issues, financing etc. in the increasingly important area of bankruptcy litigation.

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