Terminology

Enforcement proceedings

In broad terms enforcement proceedings describes all and any proceedings provided by federal law in Switzerland to enforce the payment of debts.

Seizure of assets

During enforcement proceedings, assets of the debtor may be seized by duly authorized authorities and liquidated to satisfy debts.

Secured debt

Secured debt or secured claims are debts for which the debtor has provided collateral as security, should he be unable to pay the debt. The collateral can be any asset that can be realized.

Insolvency

Insolvency is the inability of a person or company to pay their debts when they become due.

Bankruptcy

Bankruptcy is a federally regulated procedure by which all the assets of a debtor are liquidated and the resulting cash fund is distributed amongst all the creditors.

More Informations about bankruptcy in Switzerland: www.bankruptcy.ch

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