Two new procedures are proposed: an agreement between debtors and creditors, subject to certain conditions, will allow partial debt relief. For debtors who have no chance of reaching such an agreement, reorganisation proceedings through bankruptcy will be possible, again subject to conditions.
Safeguards will be introduced to prevent abuse and excessive losses for creditors. Cantons will have to ensure that indebted persons have access to advisory services on the new procedures.
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Swiss company bankruptcies rise to record high in 2024
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The number of Swiss company bankruptcies increased by 15% to a record 11,506 in 2024.
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