An Overview of the Ordinary Concordat Clauses of the Swiss Bankruptcy and Enforcement Law


KALE S.

İstanbul Medipol Üniversitesi Hukuk Fakültesi Dergisi, vol.4, no.2, pp.153-169, 2017 (Peer-Reviewed Journal) identifier

Abstract

In the Swiss Bankruptcy and Enforcement Law, the provisions of the concordat within the court are regulated in Articles 305 to 332. Significant changes were made in concordat law with the new provisions that entered into force on 1 January 2014. With these amendments, it was aimed not only to facilitate the conditions of concordat, but also to improve the financial condition of the concordat party. The arrangements made in the concordat section are intended to protect the creditors, debtor and public interests from different angles. If the debtor gets better, the assets values will be protected from execution and bankruptcy proceedings; the creditor will be able to achieve more than the amount to be handed over as a result of bankruptcy liquidation; employment will continue to contribute to the economy of the country. In this study, the in-court ordinary concordat system of the Swiss Bankruptcy and Enforcement Law will be tried to be outlined taking into consideration the recent changes in the Law.