As the Federal Council stated in the media release of 14.10.2020, it will not extend the temporary measures to prevent corona-related bankruptcies. This was decided by the Federal Council at its meeting on 14 October 2020. The measures of the Covid-19 Ordinance on Insolvency Law of 16 April 2020 were limited to six months and applied until 19 October 2020, but it reserves the right to take further measures under insolvency law at a later date if necessary.

At the same time, however, the Federal Council is already putting into force the extension of the debt-restructuring moratorium to 20 October 2020, which was decided by parliament as part of the revision of company law. The total duration of the provisional debt-restructuring moratorium is extended from four to eight months. This is intended to facilitate the restructuring of companies, which can also be important in times of crisis. The remaining parts of the reform of company law will enter into force at a later date.

Do you have any questions? We would be pleased to advise you individually and with reference to the current situation.