Reorganization and Bankruptcy of Banks and Securities Dealers in Switzerland

22 Pages Posted: 22 Sep 2017

Date Written: July 31, 2016

Abstract

This paper explores main steps of the Swiss Debt Enforcement and Bankruptcy Law for banks and securities dealers. It provides analysis of competences of the Swiss Financial Markets Supervisory Authority FINMA according to current Swiss law on insolvency for banks and securities dealers. FINMA orders and supervises restructuring and insolvency of banks. As Swiss bankruptcy proceedings for banks applies to all assets of the insolvent and bankrupt bank, regardless whether they are located in Switzerland or in another jurisdiction, FINMA is involved in recognition of the foreign insolvency proceedings and satisfaction in foreign proceedings, transfer of the remainder to the foreign bankruptcy administrator, foreign compositions with creditors. The analysis of competences of FINMA during the restructuring, bankruptcy and liquidation of insolvent banks is the main focus of the current article.

Keywords: Swiss reorganization and bankruptcy law; banks and securities dealers

JEL Classification: C60

Suggested Citation

Prohl, Silke, Reorganization and Bankruptcy of Banks and Securities Dealers in Switzerland (July 31, 2016). Available at SSRN: https://ssrn.com/abstract=2834503 or http://dx.doi.org/10.2139/ssrn.2834503

Silke Prohl (Contact Author)

Princeton University ( email )

Sherrerd Hall, Charlton Street
Princeton, NJ 08544
United States

NYU ( email )

251 Mercer Street
New York, NY - 10012
United States

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