Company Administration in Case of Insolvency
Company Administration in Case of InsolvencyUpdated on Tuesday 21st February 2023
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What are the main entities involved in insolvency procedures in Switzerland?
- • during the liquidation procedure of a limited liability company, a liquidator will be appointed to assess the company’s balance sheet, once the company’s shareholders have completed a resolution in this sense (containing the votes of at least two thirds of the company’s owners);
- • the liquidator will also be in charge with the manner in which the company’s net assets will be distributed amongst the creditors;
- • these procedures will have to be concluded prior to the official dissolution of the company;
- • during the insolvency, the company’s directors will still be in charge with their usual tasks and will have to find suitable measures to assure the company’s liquidity.
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