Switzerland: Freezing in the frame
Switzerland houses a very important financial centre and is a world leader in the management of internationally invested private funds. According to recent figures, roughly one-third of all funds held outside their country of origin are managed in Switzerland. This explains the international legal community's interest in the possibilities available under Swiss law for freezing assets located in Switzerland. Swiss law offers a wide range of freezing options to the skilful creditor. The most common freezing measure is the civil attachment. There are, however, many other options, including the enforcement of foreign judgments or interim freezing orders that may be obtained in bankruptcy or criminal proceedings. All these options, which may or may not overlap in a given scenario, have their own specific strengths and weaknesses. The challenge is to pick the one that best suits a creditor's needs. This article aims to provide a brief introduction.
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