English translation of article 54b of the Swiss Insurance Supervision Act

Creditor meeting and creditor committee

Chapter 5: Supervision
Section 2: Protective measures, liquidation and bankruptcy
> Art. 54a Claims arising from insurance contracts

This page contains an English translation of the below Article of the Swiss Insurance Supervision Act (ISA) and is part of a web based Swiss ISA commentary in German language. Should you require qualified written legal advice on the ISA from a Swiss lawyer please do not hesitate to contact: Melissa Gautschi

Article 54b of the Swiss Insurance Supervision Act 

Creditor meeting and creditor committee

1 The bankruptcy liquidator can suggest that FINMA:

a. constitutes a creditor meeting and defines its competences as well as its necessary presence and vote quorum for decision making;

b. constitutes a creditor committee and defines its composition and competences.

2 FINMA is not bound by the bankruptcy liquidator’s suggestions.
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