Learning Lessons and Implementing a New Approach to Bank Insolvency Resolution in Switzerland

Hüpkes, Eva

doi:10.1057/9780230523913_11

Cited by 8 publications

(7 citation statements)

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“…After the declaration of the panel judge on suspension of payment appointing the supervisory judge and appointing the administrator, the administrator immediately faces the supervisory judge to request the establishment of a supervisory judge to set a schedule for the implementation of the suspension of payment [16]. Armed with the establishment of a supervisory judge on the schedule for the implementation of the suspension of payment, the administrator announced the schedule of suspension of payment in the national media and the regional media as well as the state news [17]. The schedule of suspension of payment shall contain the schedule of the first creditor meeting, the deadline for registration of bills, the creditor's charges and tax verification [18].…”

Section: Resultsmentioning

confidence: 99%

The Role of Administrator and Procedure of Payment Suspension in the Commercial Court: A Case Study

Arjaya¹

2018

Proceedings of the International Conference on Business Law and Local Wisdom in Tourism (ICBLT 2018)

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The purpose of the research is to examine the authority of administrator and the procedures of Suspension of Payment Obligations (PKPU) of PT. RR and JCT at Surabaya Commercial Court. This type of research is normative law research with statute approach, conceptual approach and cases approach. The legal substances used in this study are primary legal materials and secondary legal materials. The resources of legal material obtained from case studies. The legal sources were collected literature studies and case analysis. The analysis used in this research is descriptive analysis that is by describing the results of research that has been collected and analyzed. The result indicate that the administrators have authority to announced court statement, organizing meetings, receive registration, prepare the creditor bill list, preparing settlement plan, prepare a voting list and make a report. The procedures of suspension of payment begins with an application filed by a debtor or creditor. The application must be granted by the court by issuing a statement for 45 days and can be extended up to 270 days.

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Section: Resultsmentioning

confidence: 99%

The Role of Administrator and Procedure of Payment Suspension in the Commercial Court: A Case Study

Arjaya¹

2018

Proceedings of the International Conference on Business Law and Local Wisdom in Tourism (ICBLT 2018)

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“…Transition and emerging economies are relatively unlikely to have the history that would make such an arrangement possible. The Swiss proposals (Hüpkes, 2003) come much closer to the balance MHL (2001) had in mind.…”

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confidence: 89%

“…In a sense the description 'Too Big To Fail' is a misnomer. Something more along the lines of 'too big to be closed and liquidated' (Hüpkes, 2003) is meant.…”

Section: Banks Pose Problems For the Application Of General Insolvencmentioning

confidence: 99%

“…The position is very clear for Switzerland, where both UBS and Credit Suisse have the majority of their operations outside Switzerland. The new Swiss legislation, which is very similar to the MHL proposals and is described by Hüpkes (2003), explicitly places a ceiling of 4bnCHF on the payout for any one institution. Otherwise the liabilities for deposit insurance funds and taxpayers in small countries could become unsustainably large.…”

Section: A11 Cross-border Complicationsmentioning

confidence: 99%

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An Approach to Bank Insolvency in Transition and Emerging Economies

Mayes

2004

SSRN Journal

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In the light of the inequity of the way losses from bank insolvencies and their avoidance through intervention by the authorities have been distributed over creditors, depositors, owners and the population at large in transition and emerging economies, this paper explores a number of regulatory reforms that would alter the balance between seeking to avoid insolvency and lowering the costs of insolvency should it occur. In particular it considers whether a lex specialis for dealing with banks that are in trouble through prompt corrective action and if necessary resolving them if their net worth falls to zero, at little or no cost to the taxpayer can be applied in the institutional framework of transition and emerging economies.

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“…The first is that the authorities responsible for the parent organisation may simply not have the resources to resolve an institution satisfactorily. The Swiss have long recognised this (Hüpkes, 2003) as both UBS and Crédit Suisse are so large outside Switzerland that even such a rich country could not cope with a major failure in the sense of insuring all depositors and limiting the costs of closure. Similarly the problem in the Nordic region (including Iceland) was recognised and well‐known at least five years before the crisis broke (Sigurðsson, 2003).…”

Section: Lessons From the Present Crisismentioning

confidence: 99%

The Role of Central Banks in Financial Supervision and Regulation

Mayes

2009

Economic Affairs

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This article describes thinking on the institutions of financial supervision and regulation prior to the current crisis and goes on to examine what lessons have been learnt subsequently. It concludes that the problem is not so much that central banks needed to be more closely involved in supervision at the outset but that many countries did not have satisfactory schemes in place for resolving problems in large institutions. Central banks and governments were then forced into ad hoc measures that could have unfortunate implications for moral hazard in the future unless fundamental problems are addressed.

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Learning Lessons and Implementing a New Approach to Bank Insolvency Resolution in Switzerland

Cited by 8 publications

References 0 publications

The Role of Administrator and Procedure of Payment Suspension in the Commercial Court: A Case Study

The Role of Administrator and Procedure of Payment Suspension in the Commercial Court: A Case Study

An Approach to Bank Insolvency in Transition and Emerging Economies

The Role of Central Banks in Financial Supervision and Regulation

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