September 4, 2025

Clone of SWISS DEBT RESTRUCTURING MORATORIUM SURVEY 2024

The A&M Swiss Debt Restructuring Moratorium Survey delivers unique statistics on debt restructuring moratoriums, drawing on data from official publications in the Swiss Official Gazette of Commerce (SOGC) and direct surveys conducted with 110 competent Swiss bankruptcy courts.

The debt moratorium serves as a powerful legal mechanism for financially distressed companies to shield themselves from creditors, allowing them time to implement financial and operational restructuring measures. It helps safeguard businesses and jobs, providing a value-preserving alternative to bankruptcy liquidation. The benefits include protection against debt enforcement and legal actions, the ability to terminate ongoing obligations under specific conditions, exemption from creating a social plan, and the ability to execute disposal transactions without the risk of clawbacks.

Alvarez & Marsal's new Swiss Debt Restructuring Moratorium Survey reveals a 40% increase in the use of debt restructuring moratoriums in Switzerland during 2024, compared to 2023 – reaching the highest levels since the launch of the study five years ago. 

The authors anticipate a further increase in the number of debt restructuring procedures in 2025, fueled by eroding consumer confidence, rising interest rates, ongoing global economic uncertainty, and geopolitical tensions.
 

ENTWICKLUNG DER VERFAHRENSZAHLEN 2022 - 2024

131

ENTWICKLUNG DER VERFAHRENSZAHLEN 2024

94

ENTWICKLUNG DER VERFAHRENSZAHLEN 2023

59

ENTWICKLUNG DER VERFAHRENSZAHLEN 2022

2024 Study Reveals Record-Breaking Surge with 40% Increase

Explore how the economic environment of recent years and increased attention are driving the increased use of this tool and what it means for the future.

Previous Studies:

2023
EVOLUTION OF THE NUMBER OF CASES 2019 – 2023

Alvarez & Marsal's new Swiss Debt Restructuring Moratorium Survey reveals a significant rise in procedures in Switzerland for 2023. 

2022
EVOLUTION OF THE NUMBER OF CASES 2019 – 2022

Alvarez & Marsal's latest study on Swiss debt restructuring moratorium shows that the number of Swiss companies using debt restructuring moratorium account for only 1.4% of corporate insolvencies in 2022 

2021
EVOLUTION OF THE NUMBER OF CASES 2019 – 2021

The latest survey, which is an update on their comprehensive 2020 compendium, found that the number of companies using debt moratoria represented only 1.6% of corporate insolvencies in 2021 (1.5% in 2020 and 1.6% in 2019), which compared to other markets remained very low.

2020
EVOLUTION OF THE NUMBER OF CASES 2019 – 2020

Alvarez and Marsal (A&M) and the Swiss Turnaround Association (STA) have analysed and commented on the outcomes of Swiss debt moratorium cases between January 2019 and September 2020. 

HOW A&M CAN HELP

A&M has worked with some of the largest European and global organisations to stabilise financial performance, transform operations and accelerate results through decisive action.

When traditional improvement activities are not enough, A&M’s restructuring and turnaround heritage brings fact-based, action-oriented leadership to transformation and delivers rapid results. Our professionals have both operations and advisory experience together with a proven track record in leading businesses through tough, complex situations, often characterised by liquidity and time constraints.

They have deep expertise in distressed business planning, cash forecasting and management, working closely with company management teams and boards of directors as they address critical challenges.

To learn more about our expertise and to understand the full scope of our work please get in touch with one of our key contacts.

Was unseren Kunden sagen:

Awards
Awards

Alvarez & Marsal beriet den Verwaltungsrat und das Management der an der SIX Exchange gelisteten HOCHDORF Holding AG (heute HOCN AG) beim Verkauf ihrer Tochtergesellschaft im Rahmen der Restrukturierung der Muttergesellschaft. Das Mandat umfasste die Vorbereitung und Bewertung von Restrukturierungsoptionen sowie die Durchführung einer anspruchsvollen Transaktion zum Verkauf der operativen Tochtergesellschaft HOCHDORF Swiss Nutrition AG (HSN). Die Transaktion wurde erfolgreich als Pre-Pack im Rahmen der Nachlassstundung vollzogen.

Finanz- und Restrukturierungsberater
Awards
Awards

Alvarez & Marsal wurde als globaler Restrukturierungsberater von FTX ernannt, um den verbleibenden Wert der Krypto-Plattform im Rahmen des Chapter-11-Verfahrens zu sichern. Das Schweizer Team plante die kurzfristige Liquidität, bewertete den Liquidationswert und analysierte Optionen für die europäische Sub-Holding und deren Tochtergesellschaften. Nach der Einleitung eines Nachlassverfahrens für die Schweizer Sub-Holding unterstützte A&M den Sachwalter und koordinierte die Abläufe zwischen dem Schweizer Verfahren und dem Chapter- 11-Verfahren in den USA. Das Unternehmen konnte das Schweizer Verfahren infolge Sanierung erfolgreich verlassen.

Globaler Restrukturierungsberater
Awards
Awards

Alvarez & Marsal berät die 12 Aktionärsgemeinden der GZO AG, Spital Wetzikon, im Rahmen der finanziellen Restrukturierung, Sanierung und langfristigen Ausrichtung des Spitals. Das Mandat umfasst die Unterstützung im laufenden Nachlassverfahren sowie die Entwicklung nachhaltiger Lösungsansätze für die zukünftige Ausrichtung.

Finanz- und Restrukturierungsberater der 12 Aktionärsgemeinden
Die neue Umfrage von Alvarez & Marsal zum Moratorium für die Umschuldung in der Schweiz zeigt einen deutlichen Anstieg der Verfahren in der Schweiz für das Jahr 2023.
Alvarez & Marsal's new Swiss Debt Restructuring Moratorium Survey reveals a significant rise in procedures in Switzerland for 2023.
Global professional services firm Alvarez & Marsal has published its annual study on the use of the Swiss restructuring procedure or "debt restructuring moratorium.
Global professional services firm Alvarez & Marsal has published its annual study on the use of the Swiss restructuring procedure or "debt restructuring moratorium.
Authors
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