Swiss bankruptcy language: Difference between revisions

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Swiss bankruptcy language (view source)

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-{{fullanat|isda|5(a)(vii)|2002}}
+{{isdaanat|5(a)(vii)}}
-Consider adding to the {{isdaprov|Bankruptcy}} definition:
+Consider adding to the {{isdaprov|Bankruptcy}} definition: (see [https://www.droit-bilingue.ch/rs/lex/1934/00/19340083-a26-fr-de.html Article 26 of the Swiss Banking Act]):
+{{box|or (10) {{swiss bankruptcy definition}}}}
-:“; or (10) 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:
+So, the question is, whether you need also to adjust the {{isdaprov|Automatic Early Termination}} language to take into account this new limb (seeing that [[AET]] specifically references only Sections {{isdaprov|5(a)(vii)}}(1), (3), (5) or (6) or if analogous, (8), and this would be, if added in the conventional way, Section {{isdaprov|5(a)(vii)}}''(10)''). And the answer to that question is ''yes''. You ''can'' narrow it.
-::(A) protective measures (''Schutzmassnahmen/mesures protectrices'') under Article 26 or other protective measures establishing a payment moratorium of general applicability or ordering the termination of its business operations,
-::(B) restructuring procedures (''Sanierungsverfahren/procédure d’assainissement'') under Articles 28-32 of the Banking Act or
+:{{Swiss AET language}}
-::(C) an order for liquidation and the withdrawal of its banking license under the Swiss Banking Act”.”