Switzerland – Fighting fit

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Switzerland’s dispute resolution market is in rude health. LB talks to the key players about recent headline cases and what the implementation of new arbitration rules in 2012 will mean

The volume of Swiss M&A and capital markets may have flattened out in Switzerland but the global downturn has produced a raft of investor claims against banks and investor management disputes. ‘In tough economic times, people are much more prepared to take their case to court and less willing to settle,’ says Patrick Sommer, partner at CMS von Erlach Henrici (CMS). Consequently, Switzerland has become a major battlefield for asset recovery and enforcement of foreign judgments. Continue reading “Switzerland – Fighting fit”

Switzerland – Splendid isolation

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As an exporting country, Switzerland is not immune to the general crisis and slow down of growth in the rest of Europe. Add to this a tough financing environment, and it is no surprise that the country’s transactional lawyers are reporting a dwindling deal flow.

A key issue for international M&A deals in Switzerland is the strong Swiss franc. In 2011, because prices kept increasing for dollar or euro-based buyers, some inbound acquisitions of Swiss businesses by foreign acquirers failed after following due diligence. However, it’s not just a robust currency that is affecting Switzerland’s M&A transactions. ‘Because the Swiss economy has resisted the global meltdown fairly well in comparative terms,’ says André Gruber, one of the Geneva-based founding partners at Swiss legal practice DGE, ‘Swiss assets are also comparatively expensive.’ Continue reading “Switzerland – Splendid isolation”

Switzerland – On The Rise

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While several leading Swiss law firms contemplate their new lives as corporations, LB finds out what a series of high-profile partner exits means for Switzerland’s famously conservative legal market

This year, Zürich-based law firm Pestalozzi celebrates its 100th birthday. Just ten years ago, it joined forces with Geneva practice Lachenal Brechbuhl Cottier & Roguet to become Pestalozzi Lachenal Patry. But in late 2010, the two factions parted company, shutting down the Brussels office along the way.

Continue reading “Switzerland – On The Rise”

Time for change

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With some of the cornerstones of Swiss identity – banking and secrecy – under threat, the country’s law firms are caught up in the maelstrom. LB uncovers how Switzerland’s conservative legal community has been responding to the upheaval.

Switzerland recently encountered its most significant period of economic turmoil, and its lawyers are right on the front line. Although the consequences of the financial backlash were largely kept at bay through government intervention, hitherto unknown banking and investor losses were recorded. Continue reading “Time for change”