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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...
Autores principales: | , |
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Formato: | Online Artículo Texto |
Lenguaje: | English |
Publicado: |
Springer International Publishing
2023
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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. |
format | Online Article Text |
id | pubmed-10018585 |
institution | National Center for Biotechnology Information |
language | English |
publishDate | 2023 |
publisher | Springer International Publishing |
record_format | MEDLINE/PubMed |
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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