Bankruptcy

In Switzerland, bankruptcy is a formal collective debt-enforcement process, mainly for debtors subject to bankruptcy proceedings such as companies and registered merchants. Once opened, the debtor’s attachable assets form a bankruptcy estate administered for creditors according to statutory priorities. Proceedings may be ordinary or summary, and may end with liquidation, distribution, or related restructuring outcomes where available. Bankruptcy differs from mere insolvency: insolvency is the financial condition, while bankruptcy is the legal procedure triggered by a decision or statutory route.