The city and canton of Zurich are now to step in to pay the outstanding bills.
The Zurich 2024 World Cycling and Para-Cycling Championships Association has submitted an application for financial support to the City of Zurich, as announced on Friday.
According to a statement, the city council is prepared to support the association financially in order to facilitate the reorganisation and prevent damage from private creditors.
The canton has declared to the association that it will waive repayment of a bridging contribution granted. The association has also applied to the court for a provisional debt-restructuring moratorium, which has been granted.
Translated from German with DeepL/mga
This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles.
If you want to know more about how we work, have a look here, if you want to learn more about how we use technology, click here, and if you have feedback on this news story please write to english@swissinfo.ch.
Popular Stories
More
Workplace Switzerland
Trump tariff shock: how Switzerland is positioning itself
What factors should be taken into account when inheriting Swiss citizenship abroad?
Should there be a limit to the passing on of Swiss citizenship? Or is the current practice too strict and it should still be possible to register after the age of 25?
Is your place of origin, your Heimatort, important to you?
Every Swiss citizen has a Heimatort, a place of origin, but many have never visited theirs. What’s your relationship with your Heimatort? What does it mean to you?
Switzerland postpones online platform scrutiny as US tensions rise
This content was published on
Switzerland has delayed regulating large online platforms such as Google, Facebook, YouTube and X while trade tensions are rising.
Swiss Rhône river region braces for possible flooding
This content was published on
A pre-alert for possible flooding has been announced for the Rhône river as some regions of Switzerland brace for bad weather.
Switzerland commits CHF250 million for humanitarian aid
This content was published on
Switzerland allocates CHF250m to the World Food Programme, the United Nations High Commissioner for Refugees and the International Committee of the Red Cross.
This content was published on
Swiss electricity grid operator posts CHF103.8 million net profit, an increase of CHF3.8 million from 2023, boosted by higher tariffs.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.