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Rights, Duties, and Risks of a Liquidator in Switzerland: A Comprehensive Overview

Rights and Duties of the Liquidator in Switzerland: The rights include access to documents, asset sales, debt recovery, and convening of meetings. Duties encompass diligent management, transparency to stakeholders, fair assessment, debt payment, and maintaining accurate records. Potential risks for the liquidator include personal liability, mismanagement, asset insufficiency, breach of fiduciary duties, and criminal offenses

Rights, Duties, and Risks of a Liquidator in Switzerland: A Comprehensive Overview

The role of a liquidator in the process of dissolving a Swiss company is governed by well-defined rights and duties, establishing a foundation for a fair and transparent liquidation. The following outlines these rights and obligations:

Rights of the Liquidator:

  1. Access to Documents: The liquidator has the right to access the company’s books and documents to compile a comprehensive inventory of assets and liabilities.
  2. Asset Sale: They have the authority to sell the company’s assets to secure the necessary funds for liquidation.
  3. Debt Recovery: The liquidator has the right to take measures to recover the company’s debts if necessary.
  4. Convening Meetings: They can convene meetings of shareholders or associates to obtain instructions or approval for specific decisions.

Duties of the Liquidator:

  1. Diligent Management: The liquidator must act with diligence and prudence in managing the company during the liquidation period.
  2. Transparency Towards Stakeholders: They are obliged to keep creditors, shareholders, or associates informed about the status of the liquidation.
  3. Fair Evaluation: The liquidator is responsible for creating a complete inventory of the company’s assets and liabilities, evaluating them fairly and reasonably.
  4. Debt Payment: The liquidator is required to pay the company’s debts in accordance with legal and contractual priorities.
  5. Accurate Record-Keeping: They must maintain accurate records of all transactions carried out during the liquidation process and report their actions to the general meeting of shareholders or associates.

Risks for a Company Liquidator in Switzerland:

  1. Personal Liability: The liquidator may be held personally liable for acts or omissions that harm the company, shareholders, associates, or third parties in case of a violation of the law, contract, or company statutes.
  2. Mismanagement: Inadequate management of the liquidation process can lead to charges of mismanagement, especially if the liquidator’s actions go against the interests of the company or harm creditors.
  3. Asset Insufficiency: If the company’s assets are insufficient to cover tax debts, the liquidator may be held responsible for the asset deficiency and may be personally required to cover unpaid debts.
  4. Violation of Fiduciary Duties: Any breach of fiduciary duties to the company, shareholders, associates, or creditors may result in the liquidator’s liability.
  5. Criminal Offenses: The liquidator may face legal action for criminal offenses, including fraud, breach of trust, forgery, or fraudulent insolvency.

The liquidation of a Swiss company can be a complex task, but our team is here to guide you through the process. We offer tailored legal, financial, and tax advice to ensure that each step proceeds transparently and in compliance with the law.

Feel free to contact us for an initial consultation to confidently initiate the liquidation of your company in Switzerland. Fill out our contact form or call us at +41(0)22 566 82 44.