(28.09.2022) The SME Forum, an extra-parliamentary commission, has approved the draft revision of the Swiss Debt Enforcement and Bankruptcy Law (LP). It believes that the measures proposed by the Federal Council will positively impact entrepreneurship and the economy.
The SME Forum is committed to drawing the Federal Administration's attention to the needs of small and medium-sized enterprises. In its September 19, 2022 recommendations, the commission recommended adopting two new measures proposed by the Federal Council, which are intended to facilitate the exit of individuals from a situation of over-indebtedness.
The SME Forum points out that studies conducted abroad have demonstrated the relevance of such measures. Sole proprietorships account for a large proportion of businesses in Switzerland. The number of women and men entrepreneurs who could benefit from the new possibilities is therefore potentially large. Thanks to the new regulations, those who have not been successful in their business can, under certain conditions, be released from their debts and make a new start.
However, the SME Forum emphasizes the importance of preventing abuses and limiting losses for creditors. For this reason, the committee supports the introduction of a 15-year waiting period, during which the persons concerned will not be able to claim any further restructuring procedures. The members also believe that the duration of the drawdown phase should be extended to five years in order to prevent attempted concealment of income.
The full text of the SME Forum's recommendations as well as the draft of the new regulation can be found via the links below.
Last modification 28.09.2022
