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The Ins and Outs of the Proposed Restructuring Regime for Distressed Companies

Posted by on 13 April 2017

In the framework of the proposed general revision of Swiss corporate law, the Federal Council intends to overhaul the existing restructuring regime for distressed companies. The objective of the effort is to create incentives for distressed companies to take the necessary restructuring measures as early as possible and, by doing so, avoid bankruptcy.

FRORIEP-proposed-restructuring-regime-for-distressed-companiesWe have prepared a pdf for you, which examins the following points:

1.   Introduction and Scope of the Proposed New Regime
2.   New Restructuring Provisions Outside the Context of a Composition Moratorium
2.1 Imminent Insolvency (New Art. 725 CO)
2.2 Capital Loss (New Art. 725a CO)
2.3 Imminent Over-Indebtedness (New Art. 725b CO)
2.4 Other Relevant Provisions
3.   New Restructuring Provisions Inside the Context of a Composition Moratorium

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 If you liked this article you may also be interested in reading about Federal Council wants to modernise Swiss Corporate Law, written by Dr. Mark Montanari, Dr. Catrina Luchsinger Gähwiler, Prof. Dr. Isabelle Chabloz, Benjamin Dürig, Dr. Irène Schilter

Topics: Corporate & Commercial | Insolvency & Restructuring

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Dr. Catrina Luchsinger Gähwiler

Catrina is a specialist in financial market law and corporate law. She has a wealth of experience advising financial market clients, including banks, asset managers and investment vehicles, as well as substantial operational knowledge. She also serves on the management boards of various com-panies, some of which are in the financial services sector. Catrina joined our firm as an associate in the year 2000. She became a partner in 2007. Catrina advises financial services clients and investment companies on regulatory issues as well as on contractual aspects relating to the financial market industry. She furthermore has considerable experience in acquisition and financing transactions, in general corporate work, both for listed and privately held companies, in mergers and acquisitions – predominantly in the financial services sector – and regularly advises in equity capital market transactions both for SIX Swiss Exchange, where she is admitted as a listing agent, and for BX Berne eXchange. Chambers Europe and Chambers Global have identified her as a Recognised Practitioner in the field of banking and finance, where clients have commended her client orientation. She is also ranked as a leading lawyer in the IFLR1000 guide for financial services regulatory and M&A. Catrina obtained her law degree from the University of Zurich in 1991 and was admitted to the Zur-ich Bar in 1995. She gained her PhD in 2004. Her working languages are German, English and French. She is a member of the Zurich Bar Association, the Swiss Bar Association, the International Bar Association (IBA) and the International Pacific Bar Association.

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Sabina Schellenberg

Sabina Schellenberg joined our firm as an associate in 2009 and became a partner in 2016. She is an experienced litigator and represents domestic and foreign companies and individuals in commercial disputes before state courts of all instances and in enforcement and legal assistance matters. She is also a specialist in the fields of directors' and officers' liability law and national and international restructuring and insolvency law. After her studies at the University of Zurich, Sabina worked as a law clerk at the District Court of Zurich and was admitted to the bar in 2006. Prior to joining Froriep she was with the restructuring and insolvency department of a leading audit firm in Zurich and Basel. Sabina is a member of INSOL Europe, the International Bar Association, the Swiss SchKG Association and the Zurich Bar Association. Her working languages are German and English.

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Benjamin Dürig

Benjamin is an experienced transaction lawyer with a focus on M&A and corporate finance transactions, and corporate law. Benjamin advises clients in M&A and corporate finance transactions and is an experienced team leader in complex transactions. He advises listed and non-listed entities, including regulated financial institutions. He has in-depth expertise on the legal issues relating to real estate in and outside of transactions, including regulatory aspects, environmental issues (polluted sites), and complex commercial lease agreements. Benjamin is a regular speaker to various audiences on topics relating to his practice, including international lawyers' conferences, commercial chambers and industry organisations. He joined our firm as an associate in 2009 and became counsel in 2017. Before that, he worked at a Zurich district court and a French-speaking law firm for a number of years. Benjamin’s law degree is from the University of Zurich (2003) and he was admitted to the Zurich Bar in 2007. He is a member of the Swiss Bar Association, the Zurich Bar Association, the Franco-Swiss Chamber for Trade and Industry, and of the International Association of Young Lawyers (AIJA). His working languages are German, French and English.

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Prof. Dr. Isabelle Chabloz

Isabelle Chabloz is an expert in corporate law, including takeover and competition law, insolvency law and civil procedures. She has been an associate professor at the Swiss Distance University since 2014, and a lecturer at the University of Bern since 2011. She has also regularly taught at the University of Fribourg since 2004. She was a legal counsel at the Swiss takeover board for two years, and joined Froriep in 2015 as Of Counsel. Isabelle Chabloz graduated from the University of Fribourg in 1996, where she also gained a doctorate (summa cum laude) in competition law in 2002. She was admitted to the Swiss Bar in 2003. She has an LL.M in commercial law from Monash University in Melbourne, Australia (2008), and finished her habilitation (the highest possible academic qualification, beyond a PhD) in corporation law in 2012. Since 2016, she has been a member of the Federal Commission of Experts for the Commercial Register. She has published various articles and books in the fields of corporate, civil procedures, competition and insolvency law. Isabelle Chabloz speaks French, German, English and Italian.

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Dr. Irène Schilter

Irène's practice focuses on public and private M&A transactions, corporate and commercial law, contract law including litigation in these fields. She joined our firm as associate in 2015. Prior to joining Froriep, Irène worked at the University of Zurich as research and teaching assistant and also as an associate and notary public in a Zug law firm.She graduated in law from the University of Zurich in 2007 and was admitted to the Zug Bar in 2012. She obtained her PhD in 2011.

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Dr. Mark Montanari

Mark Montanari’s practice focuses on capital and financial markets, corporate law, start-ups as well as M&A and financing transactions. He regularly advises international and domestic clients in these fields, including public takeover and stock exchange laws and regulations. Mark Montanari joined our firm in 2010 and became counsel in 2017. Prior to that, he worked as a clerk at the District Court Emmental-Oberaargau and with a business law firm in Berne. Thereafter he worked as research and teaching assistant at the University of Berne (Institute of Business Law). After having graduated in law from the University of Berne in 2005, he was admitted to the Bar in 2008 and went on to complete a PhD (summa cum laude) in 2011 in the field of financial markets. His working languages are German and English. Mark Montanari is a member of the Zurich Bar Association, the Swiss Bar Association and the International Association of Young Lawyers (AIJA).

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