Obtain information on bankruptcy proceedings

Once a debtor has been declared bankrupt, the case is forwarded to the relevant office, which takes an inventory of the debtor's assets. If these assets are not sufficient to cover at least the costs of the bankruptcy, the bankruptcy is suspended and the process stops at this stage, unless a creditor agrees to pay the associated costs.

If the bankruptcy is opened, the office calls on the bankrupt's debtors to announce their debts, and on creditors to announce their claims, by publication in the Swiss Official Gazette of Commerce (FOSC). Once the debts and claims are known, the office finalizes the inventory and draws up the claims report, i.e. the list of creditors and the amounts of their respective claims. A creditor may contest both the inventory and the claims report, for example if he believes that other assets should be listed, or if he has not been correctly included in the report. The time limits for taking action are 10 days and 20 days respectively. Additional actions are possible in bankruptcy cases, under certain conditions, but these are not carried out automatically by the office. These include the revocatory action, which in certain cases enables assets to be recovered in favor of creditors, and the procedure for assignment of the rights of the bankruptcy, which enables a creditor to recover assets directly from the bankrupt's debtors. It is also possible to bring an action against the corporate bodies of a bankrupt company, such as its directors, where their liability is engaged.

Legalify assists you in your bankruptcy-related procedures. Contact our lawyers for more information.