Insolvency and corporate recovery in Switzerland

Schellenberg Wittmer Ltd

Schellenberg Wittmer Ltd is renowned for handling insolvency administration matters in the German- and French-speaking parts of Switzerland, as well as for handling foreign bankruptcies. Apart from his role as receiver in the ongoing administration of Petroplus Refining Cressier, Vincent Jeanneret also advised a watch industry supplier on its impending bankruptcy. Of counsel Prof Dr Olivier Hari was instructed by a foreign bank to create an insolvency-related analysis regarding the validity of a set-off of claims from an ISDA agreement.

Wenger Plattner

Wenger Plattner's 'hugely experienced and hands-on restructuring team combines excellent expertise and high quality with a very high level of responsiveness and a good commercial mindset'. With a major focus on liquidation proceedings and restructuring matters, it is also recommended for its 'outstanding expertise in cross-border insolvency law'. The 'excellent, efficient and creativeBrigitte Umbach-Spahn and 'technically skilled, easy-to-work-withKarl Wüthrich are acting as liquidators in the separate Bank Hottinger & Cie, Petroplus Marketing and Swissair proceedings, while Bern-based Fritz Rothenbühler took on a similar role in the winding-down procedure for Enzian Ship Management and Swiss Chem Tankers. Senior associate Stefan Bossart is another name to note.

Bär & Karrer Ltd.

Bär & Karrer Ltd. is best known for applying its corporate and transactional experience to out-of-court restructurings, as well as assisting clients from the financial sector with recovery and resolution planning, regulatory intervention and insolvency proceedings. In recent work, Cédric Chapuis is advising Standard Chartered Bank on the voluntary liquidation and wind-down of its Swiss private banking subsidiary, and is also chairing the creditors' commission in Banque Privée Espírito Santo's liquidation. Insolvency specialist Thomas Rohde and transactions partner Ralph Malacrida jointly head the practice.

Baker McKenzie

'As one of the top practices with insolvency expertise in Switzerland', Baker McKenzie is capable of 'solving difficult issues across Europe' and has developed 'a thorough understanding of the syndicated loan market in Switzerland'. It has a strong focus on financial restructurings and the representation of distressed businesses, creditors and suppliers in insolvency proceedings. A major highlight for the 'calm, very knowledgeable and pragmaticLukas Glanzmann is the US Chapter 11 filing of Westinghouse, involving a debtor-in-possession financing and its $4.6bn sale to Brookfield Asset Management. Together with Alexander Fischer, Glanzmann also assisted Forster Swiss Home with its asset deal acquisition of Forster Stahlküchen from insolvent kitchen cabinet manufacturer Bruno Piatti.

Kellerhals Carrard

Kellerhals Carrard focuses on company restructurings and liquidation proceedings. Lukas Bopp represents Banque Privée Espírito Santo in a voidance action related to a payment dating back before its insolvency, while Daniel Staehelin and Jean-Luc Chenaux are handling the client's ongoing liquidation.

Lenz & Staehelin

The 'very professional and proactive team' at 'top firmLenz & Staehelin is 'very knowledgeable and vastly experienced in cross-border insolvency cases'. The enforcement of creditors' rights, restructuring matters and risk analyses form the core areas of expertise. 'Good strategic and conceptual thinkerTanja Luginbühl and the 'thoroughly prepared and assertiveRoland Fischer are handling the restructuring of Sempione Fashion. Senior associate Anja Affolter Marino is recommended for her 'excellent foreign language capabilities' and ability to 'translate legal knowledge into practical terms'.


Pestalozzi handles insolvency proceedings, asset recovery actions, restructurings, insolvency-related litigation and the recognition process for foreign bankruptcies in Switzerland. Recent highlights for Christophe Emonet include representing the First International Bank of Israel in a loan recovery and avoidance claim against several foreign diamond trade companies. Zurich-based Thomas Rohner is also noted.

Prager Dreifuss AG

Prager Dreifuss AG focuses on the representation of creditors in domestic or international insolvency and restructuring cases. Daniel Hayek and Gion Christian Casanova act as legal advisers to Deutsche Bank Trust Company Americas as security agent and Wilmington Trust National Association as indenture trustee in their clams against Petroplus. Corporate partner Andreas Moll is also noted.


Froriep is recommended for its 'dedication and tireless work in order to get cases resolved quickly' and its ability to 'handle complex international insolvency and corporate recovery cases in collaboration with foreign trustees'. It also has considerable experience in insolvency-related litigation, including claw-back actions and liability disputes. Sabina Schellenberg represented a company in international liquidation proceedings, which involved the recognition of the powers of an Israeli trustee in Switzerland and the sale of assets. 'Caring adviserDaniel Bloch is also recommended. Litigator Marcel Steinegger  is another key partner in Zurich.


Homburger provides bankruptcy, restructuring and transactional advice, while also acting for clients in related litigation and foreign-bankruptcy recognition proceedings. Practice head Stefan Kramer advised Kauphing Bank on its Swiss-law composition plan and the recognition of Icelandic insolvency decrees in Switzerland. Credit Suisse and ISDA are other key clients. Benjamin Leisinger made partner in January 2018. Simon Vorburger  left for Quinn Emanuel Urquhart & Sullivan (Schweiz) GmbH in July 2018.

Niederer Kraft Frey AG

Niederer Kraft Frey AG is experienced in creating and implementing restructurings and recovery actions, especially in the financial services sector and at an international level. It also represents companies, banks, liquidators and creditors in insolvency proceedings. Bertrand Schott advises CLS Group and CLS Bank on recovery measures for the latter and the impact of a possible insolvency on the former, while Thomas Sprecher was instructed by Stiftung Wisli to pursue liability claims against former board members of a now bankrupt subsidiary. Marco Haeusermann is another name to note. Restructuring partner Till Spillmann joined from Bär & Karrer Ltd. in early 2018.

Staiger Attorneys at Law Ltd

The three-partner team at Staiger Attorneys at Law Ltd 'fully meets expectations', taking on roles as receivers or their representatives, bankruptcy administrators, liquidators and counsels. Marc Bernheim and newly promoted partner Gaudenz Geiger serve as bankruptcy administrators of Atrib Management and Atrib Group, while 'pleasant and efficient cooperatorPhilipp Känzig represents Bank Hapoalim in two liquidation committees pertaining to Madoff feeder funds. The Swiss Climate Cent Foundation is a long-term client of the practice.


VISCHER provides 'top advice, which is clearly above the market standard'. The team has core strengths handling bankruptcies in the financial sector, having been involved in the Lehman Brothers insolvency as liquidator's counsel. In recent work, Adrian Dörig  represented indenture trustee Wilmington Trust in the bankruptcy of Toys'R'Us. 'Truly knowledgeable and profoundly experienced practitionersDavid Jenny and Thomas Weibel are also recommended, while Jana Essebier is another name to note.

Walder Wyss Ltd

Walder Wyss Ltd engages in international bankruptcy and insolvency matters, with a particular focus on the representation of creditors, such as Swiss subsidiaries whose parent companies face Chapter 11 proceedings in the US. The practice also assists cross-border businesses with their restructuring needs. Counsels Christoph Stäubli and Dominik Hohler acted for the board of directors of Toys'R'Us in Switzerland during its US debtor-in-possession proceedings. Mark Reutter is another main practitioner.

Bratschi Ltd

Bratschi Ltd handles the enforcement of claims, bankruptcy and restructuring matters, as well as litigation in all parts of Switzerland. Recent work includes Mirco Ceregato's representation of a Chinese company in its damages claim against a bankrupt industrial manufacturer. He jointly heads the practice with insolvency litigator Daniel Glasl.

Meyerlustenberger Lachenal Ltd

Meyerlustenberger Lachenal Ltd (MLL)'s client base consists of companies, creditors and investors, for which the team handles restructuring and turnaround solutions, debt rescheduling or enforcement, M&A assistance, representation in proceedings and the negotiation of provisional measures. In 2018, Publicitas appointed Urs Boller as its provisional commissioner after being granted a moratorium. Together with Dr Alexander Vogel, he is acting for the bankrupt group companies Econcern and Ecostream International in a dispute involving the reclaiming of loans and defence against liability claims brought by the receiver of its bankrupt Swiss subsidiary. Samuel Ljubicic has expertise in corporate aspects and financial transactions.

Wenger & Vieli LTD

The insolvency department at Wenger & Vieli LTD focuses on contentious matters for creditors, debtors and banks, as well as international restructuring actions. Pascal Honold assists P & R Equipment & Finance Corp with the restructuring of its business in Switzerland as a consequence of the insolvency of the German group companies. Georg Zondler represents a Swiss supplier in the insolvency proceedings of kitchen manufacturer Bruno Piatti. Financial services expert Martin Hess is also noted.