Swiss Banking Act: Difference between revisions
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Oh go on, it goes like this: | Oh go on, it goes like this: | ||
{{swiss bankruptcy definition}} | {{box|{{swiss bankruptcy definition}}}} | ||
Revision as of 14:40, 30 May 2019
Swiss Federal Act on Banks and Savings Banks, whcih gives rise to the excellent Swiss Bankruptcy Language that enthusiastic lawyers can add to Section 5(a)(vii) of their ISDA Master Agreements
Oh go on, it goes like this:
- in respect of a Swiss bank or a Swiss branch of a bank licensed under the Swiss Federal Act on Banks and Savings Banks (the “Swiss Banking Act”), it has imposed on it or with respect to it, by the Swiss Financial Market Supervisory Authority:
- (A) protective measures (Schutzmassnahmen/mesures protectrices) under Article 26(1)(e), (f), (g) or (h) or other protective measures establishing a general payment moratoriumor ordering the termination of its business operations;
- (B) restructuring procedures (Sanierungsverfahren/procédure d’assainissement) under Articles 28-32 of the Swiss Banking Act or
- (C) an order for liquidation and the withdrawal of its banking license under the Swiss Banking Act.