Company bankruptcy: What you need to consider in the event of bankruptcy

Bankruptcy is when companies are no longer able to pay their debts. It can be initiated by either the company or its creditors.

Bankruptcy occurs when a company finds itself in excessive debt; that is, when the value of its property, its assets, no longer covers the total amount of its debts. If the board of directors has good reason to believe that the company has reached this situation, it is required to notify the courts (Art. 725 CO). Bankruptcy can also be initiated by an external creditor. In fact, any legal proceedings automatically result in initiation of bankruptcy, barring a few exceptions (Art. 43 LP).

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Information

Links

The Code of Obligations

Betreibungs- und Konkursstatistik (BFS) (only in German)

Bundesgesetz über Schuldbetreibung und Konkurs (SchKG) (only in German)

Requesting debt enforcement: An effective way to receive payment

Download

Bisnode - Konkurse und Gründungen (only in German) (PDF, 1 MB, 14.11.2019)Studie Firmenkonkurse und Gründungen (Mai 2014)

In discussion

Vereinfachte Sanierung von Unternehmen (1.1.2014) (only in German)

Last modification 03.05.2021