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Government looks to protect companies in crisis

National News // April 10, 2020

The government’s looking at ways to protect Swiss companies hit by cash-flow problems and debt. 

 

Pixabay Government looks to protect companies in crisis
In a temporary change to its bankruptcy laws, companies would be able wait to file for insolvency - providing there’s a chance that their debt problems could be solved after the crisis. 
 
However, if a company can’t be rescued, it will still be allowed to go bankrupt.
 
The aid package to support the economy now stands at CHF 62 billion - but some companies are still struggling with liquidity problems. 
 
The Swiss economic office is warning the country faces its worst downturn on record with a possible 10% contraction in GDP. 
 
The measures should also help Switzerland’s exporters, who are being affected by falling demand in other countries.

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