Translation of "Nachlassstundung" in English

In principle a debt-restructuring moratorium in Switzerland is also intended to cover assets abroad.

Questions about the debt-restructuring moratoria of these two companies should be referred to:

It is now considerably easier to obtain a provisional composition moratorium than under the old law.

On 1 October 2001, the public was informed, via a press conference, of project "Phoenix" and announced that parts of the group sought a payment delay.

To the lessors of aircraft to Flightlease AG and its subsidiaries and other SAir Group companies under provisional debt-restructuring moratorium.

Any debtor who misleads his creditors, the Commissioner, or the debt collection authorities, in particular by false accounting or drawing up a false balance sheet, in order to obtain a moratorium of debt enforcement or the approval of a judicial composition agreement,

This change was motivated by the argument that public confidence in the debtor should not be eroded during the composition moratorium as this could have a negative impact on the debtor's future business operations and jeopardise the reorganisation.

The primary concern of the administrator must be to ensure that the underlying fabric of li-ability towards creditors of the individual companies is not diminished during the provisional debt-restructuring moratorium.

The law requires that, after imposition of the debt-restructuring moratorium, the provisional administrator shall compile an inventory of all financial claims of interested parties.

As provisional administrator I now make the following statement to you concer-ning the effects of the provisional debt-restructuring moratorium on such contracts and agreements:

The judge will decide from this report whether to grant an ordinary debt-restructuring moratorium to each company individually.

The provisional administrator gains an overall view of the financial situation of the companies concerned, and reviews their liquidity with a view to a definitive debt-restructuring moratorium.

He must inform the surety of the bankruptcy or debt restructuring moratorium as soon as he himself learns of it.

Two years later, the company Bad und Kuranstalten Ragaz-Pfäfers AG, which had been established in 1911, was even forced to apply for a moratorium on debt enforcement, with the shares held by the Simon family being transferred to St. Galler Kantonalbank.

The administrator will convert sums in other currencies into Swiss francs at the middle exchange rate of 5 October 2001 (the date of the provisional debt-restructuring moratorium).

What happens to funds contributed to the debtor by third parties after approval of the provisional debt-restructuring moratorium?

The form "Registration of claims arising from CHF Bonds of SAirGroup under debt-restructuring moratorium " is available on this website.

If the investigation during the provisional composition period of maximum four months returns a positive result for the debtor and its ability to restructure is confirmed, debt restructuring proceedings continue and the debtor is granted a final composition moratorium during which it can negotiate a solution with its creditors with the support and under the supervision of the creditors' trustee.

While the composition moratorium always had to be published under the old law, a decision can now be taken in justified cases not to publish the composition moratorium.