Suchergebnisse für Aktienrecht

Venture Capital, ESG and Sustainable Investments

Sustainability is a pressing issue that requires addressing various environmental, social, and governance (ESG) challenges. The venture capital industry has the potential to play a crucial role in sustainable investments due to its characteristics, such as long-term investment horizons and investor protections. However, sustainability has yet to become a major topic in private equity and venture…

Actions de loyauté : une fausse bonne idée

Over its summer session 2018, the Swiss National Council adopted the possibility for companies limited by shares (sociétés anonymes/Aktiengesellschaften) to include in their articles of association certain financial privileges to the benefit of shareholders registered for at least two consecutive years in the share register (loyalty shares). This article presents the legislative work in progress…

ESG Considerations and Public Benefit Corporations

There appears to be an international demand among investors for for-profit enterprises that commit to a social or environmental purpose and consider environmental, social and governance (ESG) aspects. Inspired by U.S. legislation, EU and other state legislators have enacted statutes with new legal forms of business organizations – so-called benefit corporations – or are considering to do so in…

Sanierungsausnahme und selektives Opting out/up – ein Vergleich

If a listed company is in financial difficulties and has found a potential restructurer who wishes to acquire a larger shareholding but does not wish to be under an obligation to make an offer to acquire all listed equity securities of the company, under the Swiss takeover law two alternatives stand in the foreground: applying for an exemption from the obligation to make an offer for…

Identification des actionnaires, restrictions de transfert et « white listings »

Identification of shareholders is a topic that is governed by various layers of rules under Swiss law, which were adopted at different times to serve different purposes. Most of these rules were adopted at a time when the structure of capital markets was very different from what it is today, and before the digitalization of securities became a topic. Also, growing focus on the fight against money…