Go Back   English Forum Switzerland > Living in Switzerland > Business & entrepreneur
Reply
 
Thread Tools Display Modes
  #1  
Old 07.04.2016, 16:37
Newbie
 
Join Date: Jan 2015
Location: France
Posts: 6
Groaned at 0 Times in 0 Posts
Thanked 1 Time in 1 Post
Lunatic Fringe has no particular reputation at present
SA company legality

Wanted to ask a question regarding the continued legality of an SA company that no longer has a Swiss national/resident as a director.

Until recently there were two directors. The first is an employee/CEO - non swiss and residing in france. The second, a nominal fiduciary to satisfy the requirements of having a swiss national/resident on board. The company has run into financial difficulty as such the swiss fiduciary director has stepped out, leaving just the first person.

I doubt that, after due diligence of the cash flow and debts, that anyone else would want to step in this company as a director. I also understand that its a legal requirement that there be a swiss national/resident listed for a SA company. My question is what happens now? How long can the company exists in this state of limbo? Are they allowed to exist or must other measures be taken?
Reply With Quote
  #2  
Old 07.04.2016, 17:17
Forum Veteran
 
Join Date: Dec 2012
Location: Aargau
Posts: 1,560
Groaned at 12 Times in 11 Posts
Thanked 1,810 Times in 881 Posts
Mullhollander has a reputation beyond reputeMullhollander has a reputation beyond reputeMullhollander has a reputation beyond reputeMullhollander has a reputation beyond repute
Re: SA company legality

According to this presentation, a legal entity that does not have a complete board (Verwaltungsrat) does not have the ability to conduct business. There is then a 30 day time period to correct the situation after the resignation appears in the commercial register, granted by the commercial register office. If this time period is not held to, then the court must decide how to proceed. Possible actions include:
1. Court grants a new time period to comply under the threat of liquidation of the company.
2. Court appoints a new board member to the board or representative (Sachwalter) to supervise the company.
3. Court orders the liquidation of the company according to bankruptcy regulations.

See pp.24-25:

http://www.rwi.uzh.ch/lehreforschung...tationacht.pdf

Please don't misconstrue this reading of a presentation to be legal advice. If you need Swiss legal advice, contact a Swiss attorney.
Reply With Quote
The following 3 users would like to thank Mullhollander for this useful post:
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Legality of suppressed firearms Phil_MCR Permits/visas/government 0 05.12.2015 23:46
Drug Possession; legality, fines ilan22 Daily life 47 15.04.2015 19:41
American Business Legality Question Confloozed Business & entrepreneur 15 19.06.2012 10:34
A question about legality monimora Employment 3 07.06.2010 08:09
Legality of Car Modification cooky Transportation/driving 12 21.08.2009 14:28


All times are GMT +2. The time now is 22:31.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2016, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0