14 May 2024 I Guide
Focus On: New Provisions regarding Financial Distress
On 1 January 2023, the long-awaited reform of Swiss corporate law entered into force. Amongst various changes this reform also introduced some new regulations regarding the duties of the board of directors when a company is in financial distress. While some of these new regulations bring clarification to long disputed questions, others introduce new obligations which seem rather impractical and it has yet to be seen, whether they will overall support corporate restructurings or not. This short article tries to briefly highlight significant changes and potential points of uncertainty regarding such new regulations.
First published in The Legal 500 Insolvency and Corporate Recovery Focus On feature Switzerland - New Provisions regarding Financial Distress