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Press releases and law firm thought leadership

This page is dedicated to keeping readers informed of the latest news and thought leadership articles from law firms across the globe.

If your firm wishes to publish press releases or articles, please contact Shehab Khurshid on +44 (0) 207 396 5689 or shehab.khurshid@legalease.co.uk

 

Legal Developments Worldwide

Articles contributed by Umbricht Attorneys at Law

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The Revised Swiss Debt Restructuring Law

May 2014 - Corporate & Commercial. Legal Developments by Umbricht Attorneys at Law.

More articles by this firm.

Background of the Reform

Swissair insolvency

In January 2014, a reform of the provisions of Swiss law on restructuring of insolvent companies ("Reform") entered into force. The Reform had gone a long way to reach its adoption. It is one of many legal developments in Swiss insolvency law that has been triggered by the insolvency of the Swissair Group in October 2001. One of the many questions that arose in the aftermath of that bankruptcy, was whether a more restructuring-friendly insolvency law - similar to Chapter 11 of the US Bankruptcy Code - could have avoided the bankruptcy and liquidation of the Swissair Group.