Euro Elite 2024: Switzerland – Endurance race
Legal Business » Switzerland
by Georgia Tuxford
4M ago
Switzerland’s legal market faces similar reversals to the world at large: regulatory shifts, geopolitical flux and technological advancements are keeping partners on their toes. ‘The legal market is always developing in parallel to the general economic situation,’ comments Bär & Karrer’s Susanne Schreiber, who co-heads the firm’s tax team. In Q1 2023, Switzerland’s annual inflation rate rose to a high of 3.4% in February, 0.6% up on December 2022. In Q2, things started to look up with rates decreasing to 2.6% in April. Since then, rates have been on a steady decline, remaining at 1.7% for ..read more
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Switzerland focus: Testing the mettle
Legal Business » Switzerland
by Georgia Tuxford
6M ago
In the words of Patrik Peyer, managing partner of Niederer Kraft Frey (NKF): ‘As the Swiss legal market confronts these multifaceted challenges, the resilience and adaptability of legal practitioners become crucial in shaping a forward-looking legal landscape.’ ‘The legal market is always developing in parallel to the general economic situation,’ says Bär & Karrer’s Susanne Schreiber, who co-heads the firm’s tax team. In Q1, Switzerland’s annual inflation rate rose to a high of 3.4% in February, 0.6% up on December 2022. In Q2, things started to look up with rates decreasing to 2.6% in Ap ..read more
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Sponsored briefing: Overview of ESG law in Switzerland
Legal Business » Switzerland
by Guest Blog
6M ago
What amendments or additions to Swiss ESG laws have been introduced in the past year, and how are these expected to influence businesses in the coming year? In January 2022, the Swiss rules on due diligence and reporting regarding non-financial matters in the Swiss Code of Obligations (Swiss CO), which were adopted as a counterproposal to the ‘Responsible Business Initiative’ that was rejected by Swiss voters in November 2020, came into force (art. 964a ff. Swiss CO). These rules have started to apply as of the current financial year 2023 and the first reports according to the rules will have ..read more
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Sponsored briefing: ESG in Switzerland
Legal Business » Switzerland
by Guest Blog
1y ago
Dr Vera Naegeli and Marie-Cristine Kaptan discuss the evolving ESG legal field in Switzerland and how companies can abide by the new regulations. Overview of the Swiss Legal ESG Framework General overview The term ‘ESG’ as such does not exist in Swiss legislation. It may be interpreted in many different ways and encompass a diverse set of rules that are related to environmental, social or (corporate) governance matters. Laws on the protection of the environment (such as the Federal Act on the Protection of the Environment of 7 October 1983), on human rights and workers’ protection (ie, regard ..read more
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Euro Elite 2023: Switzerland – Strength in depth
Legal Business » Switzerland
by Edgar Tate
1y ago
2022 brought fresh challenges for the Swiss market, given the widespread instability in the global economy. Despite strong consumer spending and the removal of the last of the pandemic restrictions ensuring that economic growth has remained steady, the lingering aftershocks of the pandemic, war in Ukraine and the ensuing energy crisis, mean official predictions for growth were cut to 2% by the end of 2022. Inflation stood at just under 3% last year and the Swiss National Bank opted to raise interest rates to 1% in December 2022, having only increased them to 0.5% a few months earlier. ‘The SN ..read more
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Sponsored Spotlight: Insurance, reinsurance and insurance regulatory – Unrivalled expertise
Legal Business » Switzerland
by Guest Blog
1y ago
The ever-changing legal and economic environment for insurers calls for experts with a solid background and comprehensive expertise in the field of insurance law, as well as a solution-oriented approach to the client’s needs. The insurance practice of Prager Dreifuss can look back on a longstanding tradition and unrivalled expertise in advising and representing insurers and reinsurers in all aspects of insurance law, and fields one of the largest insurance teams in Switzerland. The team is led by Christoph K. Graber who has repeatedly been named as a ‘Thought Leader’ and as Switzerland’s ‘mos ..read more
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Switzerland: Another year, another challenge
Legal Business » Switzerland
by Edgar Tate
1y ago
At the beginning of 2022, with the pandemic finally receding into recent memory, commentators would have been forgiven for foreseeing a more optimistic market outlook. However, any sighs of relief may have been premature, as the recovery from the pandemic has given way to fresh challenges in the form of the war in Ukraine, not to mention the resultant increasingly unsteady global economy. The Swiss economy largely retains the resilience it demonstrated during the Covid years – strong consumer spending and the removal of the last of the pandemic restrictions has helped ensure that economic gro ..read more
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Sponsored practice area spotlight: Insolvency and restructuring: Combining unique skills to achieve a successful outcome
Legal Business » Switzerland
by Guest Blog
2y ago
Insolvency and restructuring proceedings are intricate and complex. Practitioners must be able to combine legal knowledge, in particular in the areas of litigation, finance and transactions, with strategic, tactical and managerial skills to deliver positive results. PRAGER DREIFUSS has extensive experience and a longstanding tradition in insolvency and restructuring matters. In the wake of the financial crisis, we combined our finance and bankruptcy knowledge which enabled us to assist in complex project financing, also lately in a major multinational commodity project. Our attorneys regularl ..read more
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Switzerland focus: Bouncing back
Legal Business » Switzerland
by Christina Detsch
2y ago
When the world went into lockdown in March/ April 2020, everyone expected the worst for the economy: market crashes, sky-rocketing unemployment numbers and a wave of insolvencies. While it is safe to say that some countries struggled more than others, Switzerland weathered the crisis well, even exceeding pre-Covid-19 activity in some areas. One of the wealthiest countries in the world, Switzerland’s GDP has been on a steady increase and almost tripled in the last 20 years. Projections also show tangible growth from 2020 to 2021, underlining the fact that the pandemic had little to no impact o ..read more
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Switzerland focus: Still standing
Legal Business » Switzerland
by Christina Detsch
2y ago
Switzerland is often singled out as the prime model for a stable economy – apart from a temporary blip in 2009 following the global economic crisis, GDP growth has moved consistently upwards. The country’s strong employment figures and national debt position have only underlined its positive reputation even more. But when Covid-19 hit, not even Switzerland could roll with all the punches it had to take, and continue growing. That said, at the end of 2020 the economic activity was only 2% below its pre-crisis level – a strong bounceback, especially compared to other European countries. While S ..read more
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