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Editorial

Das Gesellschaftsrecht lebt: Die Aktienrechtsrevision ist abgeschlossen, doch ist nach der Revision vor der Revision. Bereits absehbar sind weitere Diskussionen um die Loyalitätsaktien, die aus der…

Les clauses statutaires relatives au transfert des actions de la société anonyme

This article deals with the admissibility of statutory acquisition clauses with regard to the right of the free transmissibility of shares (Art. 685 ss of the Swiss Code of Obligations, CO) and the prohibition of additional obligations at shareholders’s cost (Art. 680 CO). In order to resolve this issue, a distinction must be made between statutory acquisition clauses relating to the shares of…

Entrepreneuriat et incapacité: responsabilité illimitée et direction de sociétés

The contribution focuses on persons under an adult protection measure that deprives them (totally or partially) of civil capacity (legal capacity). The authors consider that the need for protection of these persons is incompatible with any status involving unlimited liability for debts related to a going concern as well as with the functions of a manager of a commercial company. This…

Le droit des sociétés 2019/2020 / Das Gesellschaftsrecht 2019/2020

La décision judiciaire la plus importante de l’année écoulée concerne le droit des groupes de sociétés, à savoir le Cash Pooling, mais cette fois dans le contexte de la responsabilité du conseil d’administration (1.). Un autre arrêt important clarifie l’exercice de la clause échappatoire pour le refus au transfert des actions nominatives liées (2.). La jurisprudence a en outre eu l…

La fin des rapports de travail du banquier : concurrence et bonus

The end of the banker’s working relationship is sometimes conflicting. The sticking points generally concern non-competition clauses and the payment of bonuses. The purpose of this article is to set out the rules applicable in this area in a way that both presents the legal principles and promotes practical solutions. In particular, the possibility of imposing a non-competition clause on the…

Le droit bancaire privé suisse 2019 / Das schweizerische Bankprivatrecht 2019

Cette chronique s’allonge chaque année. Sa consultation en devient moins aisée. Pour faciliter son accès aux lecteurs nous avons introduit trois nouveautés.

Das Gesellschaftsrecht 2018/2019 / Le droit des sociétés 2018/2019

Im vergangenen Jahr stechen wiederum die Verantwortlichkeitsklagen gegen geschäftsführende Organe hervor (1.). Die weiteren Fälle betreffen die Akkreditierung von Revisoren (2.) sowie die Rechtsprechung zur Vertretung der Gesellschaft bei Interessenkonflikten (3.) und die gemischte Anwalts-AG (4.).

Seuils d’intervention ou examen ex post pour le contrôle des concentrations dans les marchés digitalisés?

Digital markets are open in principle. But network effects may rapidly favour the first successful entrant and establish high entry barriers for followers. In addition, the exchanges are often valued in data access rather than in traditional money terms. These characteristics challenge our merger control regimes. Mandatory notification systems are particularly vulnerable since merger projects in…

La classification des clients selon la loi sur les services financiers

This article looks at the client categorisation system ­reflected in the new Swiss Federal Act on Financial ­Services. Firstly, it defines the notion of client classification before highlighting similar classification mechanisms already existing under the current law. The article goes on to detail the three categories of clients, namely private, professional and institutional, as well as the…

Gouvernance des groupes: «E Pluribus Unum»?

The atomistic vision of the legal independence of a company comprised within a group reflects a historical conception. This view is not consistent with the reality of the group, which has become a predominant model structure in the economic sphere. The recognition in case-​law of the group’s interest would allow the economic phenomenon to be taken into account in a positive manner, while…