Thursday, 09 Apr 2020 04:48 PM MYT
Companies would be able to wait to file for insolvency if they are threatened with coronavirus-related problems, provided there is a chance their debt problems can be resolved after the crisis, the Justice Ministry said, according to the proposal it is considering. Justice minister Karin Keller-Sutter said many previously healthy companies needed support, as the end of the crisis was not yet in sight.
Keller-Sutter said that the new measures were meant to help businesses hurt by the coronavirus over the hump, but not to keep failing operations on life support. “There’s for example the automobile industry in Germany, where the conveyor belts are silent but they have lots of suppliers,” she said, adding some businesses in Switzerland had to adopt short-time working simply because the supply chain had been interrupted.
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