The Swiss Financial Market Supervisory Authority FINMA has granted BX Swiss Ltd and SIX Echange Regulation Ltd authorisation as prospectus review authorities as of 1 June 2020...
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Many small and medium-sized enterprises still find themselves burdened with the full cost of business rent, despite ongoing losses in turnover due to the COVID-19 protection measures. Now, however, a solution is emerging in parliament.
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Today, there is no clear legal regulation on the handling of data in bankruptcy in debt collection and bankruptcy law. If a customer wants to have access to his data in bankruptcy, he has to rely on the goodwill of the bankruptcy office. There is therefore no entitlement to the continued operation of a data centre in bankruptcy so that the data can be migrated.
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When raising funds from investors, we believe that start-ups are well advised to pass a resolution on the allocation of the unblocked part of the premium to be paid into the free reserves at the same time as the capital increase resolution at the general meeting. The reasons for this are...
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To date, there is only a sparse body of case law on the imposition of prohibitions within the meaning of Art. 33 FINMASA. In its ruling 2C_192/2019 of 11 March 2020, the Federal Supreme Court upheld an appeal by FINMA against the contested ruling of the Federal Administrative Court and thus protected the two-year ban imposed by FINMA on a general council of a bank within the meaning of Art. 33 FINMASA.
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Commercial register fees will be around one third lower as a result of the revision. The register block will be abolished. Furthermore, authorised persons will also be able to file applications for a legal entity in the future. However, this possibility is likely to miss the intended target.
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The new copyright law has been in force since 1 April 2020. The following article focuses on the topics "protection of photographs" and "internet piracy". A comprehensive treatment of all innovations would go beyond the scope of this article.
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How the impact of Covid-19 on a contractual relationship is dealt with under Swiss law depends primarily on the language of the contract. If it contains a specific "force majeure" clause dealing with a pandemic, that clause applies. Of course, such explicit clauses have not been widely agreed prior to the pandemic. In this case the contract has to be construed in order to determine the intent of the parties, and the Swiss Code of Obligations (CO) applies if it is found that the parties have not made a provision dealing with the impact of a pandemic.
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COVID-19 credits are also available to NPOs. However, due to the specificities of their economic activity, there are additional considerations to be made.
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HR offices follow a practice of filing AGM resolutions under COVID-19 rules that contradicts the spirit and purpose of COVID-19-VO 2 and violates the delegation principle. On 03.04.2020, the FOJ has now corrected its view.
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Additional instructions for holding the meeting of a legal entity pursuant to Art. 6a COVID-19-VO 2
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Set of slides and recording of the webinar from 30.03.2020, 13:30h-14:30h
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The Federal Council provided information on the COVID-19 measures in tenancy law on 27 March 2020. Some issues have been clarified with the new Rent and Lease Ordinance. However, many urgent problems remain unresolved.
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The Federal Council has decided that employers may temporarily use the employer contribution reserves for the payment of employee contributions to the occupational benefit scheme.
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For SMEs, the distinction between short-time work and loss of earnings compensation in COVID-19 support is confusing. We show various examples.
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Due to the closure order in COVID-19 Regulation 2, many of those affected can no longer fulfil their contracts. What is the legal situation in the case of continuing obligations, e.g. a fitness subscription? These questions are explored in the following article.
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Initial comments and observations on the COVID-19 Solidarity Guarantee Ordinance of 25.03.2020 of the Federal Council.
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The new COVID 19 Solidarity Guarantee Ordinance has just been published, along with the accompanying explanatory notes and media release. The forms for COVID bridging loans for SMEs will be available online HERE from Thursday, 26.03.2020, 08:00h.
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Many tenants of a business space are currently facing a financial problem: They had to close their business due to COVID-19 Regulation 2 and have not recorded any turnover since then. However, the tenancy agreement still continues. How should this problem be classified legally?
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Practitioners are well advised to ignore the notarial Corona time limit in judicial matters of debt enforcement and bankruptcy law.
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