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. The laws of the Cantons provide rules on the enforcement of other claims (not debts).

Seizure of assets

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

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.

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