The insolvency proceedings (an instrument of Swiss insolvency law (SchKG)), foreclosures and bankruptcy for companies in financial need. The advantage of these insolvency proceedings is that the hotel or restaurant operation can continue to be open for business. A hotel or restaurant which is closed generally depreciates.
In the case of a deferment of payment, an insolvency contract can be negotiated with the creditors in order to temporarily secure the legal and economical existence of the company. The ability of the previous owner to make operative decisions will be largely restricted.
During the insolvency proceedings, neither bankruptcy nor foreclosure by seizure of property nor realization of a pledge is possible. Depending on the agreements made with the creditors, the operation can be sold during this time or the creditors can reach a settlement.
Insolvency proceedings follow a court order (upon request).
Hotel and Gastro Consulting has the necessary industry knowledge and a network. The procedure itself will be handled by a network partner with relevant legal experience.
Do you think an insolvency proceeding could help your situation ? Please do not hesitate to contact us!