Ordinance of the Swiss Financial Market Supervisory Authority on the Insolvency of Banks and Securities Dealers

English is not an official language of the Swiss Confederation. This translation is provided for information purposes only and has no legal force.


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Art. 10 Recognition of foreign bankruptcy decrees and measures

1Where FINMA re­cog­nises a for­eign bank­ruptcy de­cree or a for­eign in­solv­ency meas­ure in ac­cord­ance with Art­icle 37g BankA, the pro­vi­sions of this Or­din­ance ap­ply to the as­sets loc­ated in Switzer­land.

2Even if there are no re­cip­roc­al rights, FINMA may meet re­cog­ni­tion re­quests where this is in the in­terests of the cred­it­ors af­fected.

3It shall de­term­ine one in­solv­ency ven­ue in Switzer­land and the priv­ileged cred­it­ors un­der Art­icle 37g para­graph 4 BankA.

4It shall give pub­lic no­tice of the re­cog­ni­tion and the circle of cred­it­ors.

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