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From 1 May 2021, bearer shares (with just some exceptions) will be automatically converted into registered shares by the Federal Office of Commercial Register unless the companies have already converted on a voluntary basis their bearer shares and thus modified their articles of association by this date. In addition, holders of bearer shares must inform the company about their bearer shares by the end of April 2021 if they have not already done so. After this date, shareholders will have to apply to the court to have their shares registered.
The short-time working compensation scheme has so far been an important response to the negative consequences of the COVID-19 pandemic. The Federal Council has taken various measures to ensure that as many companies and employees as possible benefit from short-time working compensation, for example by extending the scheme to additional categories of employees. The measures have now partly been changed again with a few new rules applying as from 1 April 2021. In this blog, we give an overview of what the current rules are and how these will change in the future (status: 1 April 2021).
Real estate transactions in Switzerland by UK nationals are subject to new conditions which are in force as of 1st March 2021 with retroactive effect from 1st January 2021. Knowledge of the legal protection of the acquired rights and particularities of the applicable framework are crucial to plan residential real estate investments.
The COVID-19 pandemic has forced governments to take measures to minimise the spread of the disease and its social and economic impacts.
Home working has been recommended or enforced and employers have had to implement remote working solutions often without the necessary policies already in place. Drastic changes have taken place in work patterns as employees have got used to working fully or partially from home.
As of 1 January 2016, all new foundations under private law are required to register in the Commercial Register, including church foundations and family foundations that were previously exempt from this requirement.
On 16 April 2020, the Federal Council adopted additional temporary measures in relation to the Swiss insolvency and restructuring regime by enacting the COVID-19 Insolvency Ordinance, which took effect on 20 April 2020 for six months and set the following main objectives:
- One of the main goals of the COVID-19 Insolvency Ordinance is to relieve pressure on relevant bodies of Swiss entities to request the opening of insolvency proceedings. Relief is targeted at over-indebtedness situations caused by negative impacts of the COVID-19 pandemic on liquidity, earnings and going-concern prospects.
- Further, the Swiss Federal Council put in place a special COVID-19 moratorium. This moratorium – which replaces the general suspension of debt enforcement proceedings ordered by the Swiss Federal Council earlier in the COVID-19 outbreak, which expired on 19 April 2020 – will facilitate SMEs' simple and pragmatic access to a protective moratorium with less formal requirements.
- Finally, COVID-19 Insolvency Ordinance provides amendments to the general composition proceedings.
Switzerland: the staggered way out of the lockdown - updated FAQs on how to deal with employment matters in times of COVID-19
A number of answers on some of the most frequently asked questions in current times.
Updated on 24 April, 2020.
Key legal measures to think about from a pragmatic point of view to assist commodities traders to face the delicate COVID-19 pandemic period.