Insolvency, foreclosure, bankruptcy and debt restructuring in Switzerland
Insolvency
Processes
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The insolvency law of Switzerland is the law governing insolvency, foreclosure, bankruptcy and debt restructuring proceedings in Switzerland. It is principally codified in the Federal Statute on Debt Enforcement and Bankruptcy (German: Bundesgesetz über Schuldbetreibung und Konkurs, SchKG; French: Loi fédérale sur la poursuite pour dettes et la faillite, LP; Italian: Legge federale sulla esecuzione e sul fallimento, LEF) of 11 April 1889 (as amended)[1] as well as in ancillary federal and cantonal laws.[2]
For historical reasons,[3] Swiss federal law only covers the enforcement of monetary debts payable in Swiss francs, while non-monetary obligations are enforced according to cantonal rules of procedure.[4] These cantonal rules of procedure will in 2011 be replaced by Switzerland's first national Code of Civil Procedure (Schweizerische Zivilprozessordnung, ZPO).[5]
^Federal Statute on Debt Enforcement and Bankruptcy of 11 April 1889, SR/RS 281.1 (E·D·F·I)
^Hunziker/Pellascio, 3 et seq.
^See Amonn/Walther, 6, for a historical overview.
^Hunziker/Pellascio, 2.
^"Information by the Swiss Federal Dept. Of Justice And Police". Archived from the original on 13 April 2009. Retrieved 2 February 2009.
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