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Governmental Measures in Switzerland Against Mass Bankruptcies During the Covid-19 Pandemic

This article examines the impact of the Covid-19 pandemic on debt enforcement and insolvency law in Switzerland. Despite the absence of strict lockdown measures, many sectors of the Swiss economy suffered significant losses. The government responded by introducing generous public support schemes to...

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Detalles Bibliográficos
Autores principales: Rodriguez, Rodrigo, Ulli, Jasmin
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Springer International Publishing 2023
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10018585/
http://dx.doi.org/10.1007/s40804-023-00280-8
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author Rodriguez, Rodrigo
Ulli, Jasmin
author_facet Rodriguez, Rodrigo
Ulli, Jasmin
author_sort Rodriguez, Rodrigo
collection PubMed
description This article examines the impact of the Covid-19 pandemic on debt enforcement and insolvency law in Switzerland. Despite the absence of strict lockdown measures, many sectors of the Swiss economy suffered significant losses. The government responded by introducing generous public support schemes to keep businesses afloat. The article focuses on the modifications made to Swiss law during the pandemic to avoid mass bankruptcies and facilitate restructurings. The government first introduced a general stay of proceedings, preventing debt collection but not affecting the underlying obligation to pay, and later the Covid-19 Ordinance on Insolvency Law, which provided relief to companies, especially SMEs, to implement the necessary restructuring measures. Some unsuccessful initiatives, such as a special moratorium introduced for SMEs, are also discussed. Finally, the article considers the limited take-up of some of the insolvency measures and discusses the possible consequences of the obligation to repay Covid-19 loans in the future. Overall, it provides a comprehensive overview of the impact of the pandemic on debt enforcement and insolvency law in Switzerland and the measures taken to mitigate its effects.
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spelling pubmed-100185852023-03-16 Governmental Measures in Switzerland Against Mass Bankruptcies During the Covid-19 Pandemic Rodriguez, Rodrigo Ulli, Jasmin Eur Bus Org Law Rev Article This article examines the impact of the Covid-19 pandemic on debt enforcement and insolvency law in Switzerland. Despite the absence of strict lockdown measures, many sectors of the Swiss economy suffered significant losses. The government responded by introducing generous public support schemes to keep businesses afloat. The article focuses on the modifications made to Swiss law during the pandemic to avoid mass bankruptcies and facilitate restructurings. The government first introduced a general stay of proceedings, preventing debt collection but not affecting the underlying obligation to pay, and later the Covid-19 Ordinance on Insolvency Law, which provided relief to companies, especially SMEs, to implement the necessary restructuring measures. Some unsuccessful initiatives, such as a special moratorium introduced for SMEs, are also discussed. Finally, the article considers the limited take-up of some of the insolvency measures and discusses the possible consequences of the obligation to repay Covid-19 loans in the future. Overall, it provides a comprehensive overview of the impact of the pandemic on debt enforcement and insolvency law in Switzerland and the measures taken to mitigate its effects. Springer International Publishing 2023-03-16 2023 /pmc/articles/PMC10018585/ http://dx.doi.org/10.1007/s40804-023-00280-8 Text en © The Author(s) 2023 https://creativecommons.org/licenses/by/4.0/Open AccessThis article is licensed under a Creative Commons Attribution 4.0 International License, which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons licence, and indicate if changes were made. The images or other third party material in this article are included in the article's Creative Commons licence, unless indicated otherwise in a credit line to the material. If material is not included in the article's Creative Commons licence and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. To view a copy of this licence, visit http://creativecommons.org/licenses/by/4.0/ (https://creativecommons.org/licenses/by/4.0/) .
spellingShingle Article
Rodriguez, Rodrigo
Ulli, Jasmin
Governmental Measures in Switzerland Against Mass Bankruptcies During the Covid-19 Pandemic
title Governmental Measures in Switzerland Against Mass Bankruptcies During the Covid-19 Pandemic
title_full Governmental Measures in Switzerland Against Mass Bankruptcies During the Covid-19 Pandemic
title_fullStr Governmental Measures in Switzerland Against Mass Bankruptcies During the Covid-19 Pandemic
title_full_unstemmed Governmental Measures in Switzerland Against Mass Bankruptcies During the Covid-19 Pandemic
title_short Governmental Measures in Switzerland Against Mass Bankruptcies During the Covid-19 Pandemic
title_sort governmental measures in switzerland against mass bankruptcies during the covid-19 pandemic
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10018585/
http://dx.doi.org/10.1007/s40804-023-00280-8
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