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

Appeals

Chapter 5: Supervision
Section 2: Protective measures, liquidation and bankruptcy
> Art. 54d Foreign insolvency proceedings

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 54e of the Swiss Insurance Supervision Act 

Appeals

1 In bankruptcy proceedings, the creditors and owners of an insurer or significant group or conglomerate company may only appeal against realisation activities. Appeals pursuant to article 17 of the Debt Enforcement and Bankruptcy Act of 11 April 1889 are precluded.

2 Appeals in bankruptcy proceedings shall have no suspensive effect. The instruction judge may reinstate the suspensive effect upon a party’s request.
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