Two new procedures are proposed: an agreement between debtors and creditors, subject to certain conditions, will allow partial debt relief. For debtors who have no chance of reaching such an agreement, reorganisation proceedings through bankruptcy will be possible, again subject to conditions.
Safeguards will be introduced to prevent abuse and excessive losses for creditors. Cantons will have to ensure that indebted persons have access to advisory services on the new procedures.
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Swiss company bankruptcies rise to record high in 2024
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The number of Swiss company bankruptcies increased by 15% to a record 11,506 in 2024.
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Working on Sundays is detrimental to well-being, says Swiss study
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A study by the University of Bern shows that working on Sundays is detrimental to well-being and particularly affects women.
Safra Sarasin private bank and former asset manager sentenced
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The Office of the Attorney General of Switzerland has fined private bank J. Safra Sarasin CHF3.5 million for aggravated money laundering. A former bank employee received a six-month suspended prison sentence.
JPMorgan to pay CHF270 million to settle 1MDB claims
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JPMorgan Chase has agreed to pay CHF270 million to the Malaysian government to settle all issues related to its role in the 1MDB financial scandal.
Famine confirmed in Gaza for first time, says UN-backed report
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Famine has been declared in a northern part of the Gaza Strip, according to the Integrated Food Security Phase Classification (IPC) system.
Zurich Airport ground handling staff to strike on Friday
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Ground handling staff at Zurich Airport have announced a strike for Friday afternoon. According to a union, 200 jobs are at risk.
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Philippe Lazzarini will step down as head of the United Nations Relief and Works Agency for Palestinian Refugees (UNRWA) at the end of his term in March, he announced on Thursday.
Swiss government predicts CHF845 million budget deficit in 2026
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The Federal Council published its 2026 budget proposal on Thursday: a projected deficit of CHF845 million francs ($1 billion).
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The Gösgen nuclear power plant in northwestern Switzerland will be out of service for six months. It has not been connected to the grid since late May.
Swiss authorities and firms agree to cut sugar in cereals, yoghurts and drinks
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Cereals, yoghurts and drinks in Switzerland will contain less sugar by 2028. The Swiss government and 21 companies renewed the so-called Milan Declaration in Bern on Thursday.
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