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. 40 Prerequisites

1The pro­spect of re­struc­tur­ing the bank or con­tinu­ing in­di­vidu­al bank­ing ser­vices is jus­ti­fied if, at the time of the de­cision, there is suf­fi­cient evid­ence that:

a.
the cred­it­ors are likely to fare bet­ter from the re­struc­tur­ing than from the bank­ruptcy; and
b.
the re­struc­tur­ing plan is feas­ible in terms of time and scope.

2There is no auto­mat­ic en­ti­tle­ment to open­ing re­struc­tur­ing pro­ceed­ings.

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