Insolvency law aspects in times of COVID-19 (II)
On 16 April 2020, the Swiss Federal Council enacted the COVID-19 Insolvency Ordinance. It entered into force at 00:00 hours on 20 April 2020. With the COVID-19 Insolvency Ordinance and specific adjustments to Swiss insolvency law, the Swiss Federal Council is seeking to reduce the number of bankruptcies caused by the COVID-19 crisis and the associated loss of jobs. The COVID-19 Insolvency Ordinance introduces several temporary adjustments and changes to the existing Swiss insolvency law and a new COVID-19 moratorium.