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0 Exakte Antworten 52 Text Antworten 0 Multiple Choice Antworten
Fenster schliessen

Name the three crisis from the crisis model and explain how they can be noticed:

- Strategic crisis

What says your product / past of accounting

- Profitablity crisis

You make losses / Equity goes slowly down

- Liquidity crisis

Haven't got any cash / not able to pay the salaries

Fenster schliessen

What's the difference between a genuine and not genuine adverse balance sheet?

Genuine: No reserves to treat the loss

Not genuine: enough reserves to treat the loss

Fenster schliessen

When is an adverse balance sheet concealed?

When the loss is already offset against equity and not disclosed separetely.

Fenster schliessen

How to calculate the:

- Cash ratio / Liqu. 1

- Quick ratio / Liqu. 2

- Current ratio / Liqu. 3

Liqu. 1: Cash / kfr. FK

Liqu. 2: (Cash + Receivables) / kfr. FK

Liqu. 3: UV / kfr. FK

Fenster schliessen

What are the consequences of Art. 725, 1? (Debts are covered but less than 50 % equity!)

The BOD needs to call an AGM and propose restructuring measures!

Fenster schliessen

What are the consequences of Art. 725, 2? (Debt isn't fully covered anymore)

An interim F/S based on going concern and liquidation assumptions needs to be drawn-up: If both show an over-indebtness the judge must be notified unless creditors enter into a subordination agreement.

Fenster schliessen

Explain the basic process of a claim enforcement!

Lizenzierung: Keine Angabe

                                                                                                                                           - Seizure (Pfändung) - Bankruptcy

Invoice - Enforcement Claim (Zahlungsbefehl) - Objection by debtor (Rechtsvorschlag)

                                                                                                                                           - Request for continuation of debt enforcement (Fortsetzungsbegehren) - Request for realization of security (Pfandverwertung)

Fenster schliessen

What are the three possibilities after an objection by debtor?

- if court decision exists - definite continuation

- if a public document exists - provisional continuation

- No document - sue for acceptance

Fenster schliessen

What are the three possibilities for a continuation of an enforcement claim if the debtor doesn't pay!

1. Seizure (Pfändung) (no collaterals granted)

2. Realization of security (Pfandverwertung) (for all collateralized claims)

3. Bankruptcy (for companies or private persons in commercial register)

Fenster schliessen

What are the ordinary proceedings for an enforcement by bankruptcy?

1. creditor call

2. 1st creditor reunion: election of receivership and creditor committee

3. collocation plan by receivership

4. 2nd creditor reunion: decides on realization of assets

5. distribution of funds according to distribution list (distribution order according to law)

5. if claims > funds - bankruptcy deficiency note

Fenster schliessen

Which are the three classes in an enforcement by bankruptcy?

1st class

- Salaries

- Redundancy payments (Abfindung)

- Surety claims

- Certain insurance claims

- Pension fund claims

- Alimonies

2nd class

- Claims of children

- Claims of social security

3rd class

- all other claims

Fenster schliessen

Name the thre possibilities for capital increase!

- Ordinary (qualified or ordinary - qualified is without funds inflow but contribution in kind)

- Approved (AGM gives order to BOD - 2 years time to perform - not more than 1/2 of existing share capital)

- Contingent (Options)

Fenster schliessen

How to calculate the subscription right?

(Amount of old shares * Price of an old share before capital increase) + (Amount of new shares * Issue price)

_______________________________________________________________________________________

Total amount of shares

= Price of the share after capital increase

Price of the old share before capital increase - Price of the share after capital increase = Subcscription right per old share

Fenster schliessen

The share capital of Halfmoonbay is increased to 400'000 (from 200'000) through issue of 200 shares with a nominal value of 1'000 CHF as follows:

- 100 bonus shares

- offset of loans 60'000 CHF

- Cash settlement of balancing account

The cost of issue 5'000 is paid through the bank and is capitalized.

Withholding tax is paid through the bank and debited to free reserves

Record the account for the following:

1. Subscription of shares

2. Bonus shares

3. Consideration

  a) Netting of loan

  b) Bank settlement

4. Cash disbursement

  a) Cost of capital increase

  b) Witholding tax (net value method)

1. Shareholders / Share Capital 200'000

2. Free reserves / Shareholders 100'000

3. a) Loan / Shareholders 60'000

    b) Cash / Shareholders 40'000

4. a) Financial expenses / cash 5'000

    b) Free  reserves / Cred. withholding tax 53'800

Fenster schliessen

What two types of capital reductions are there?

What's the difference?

- Constitutive (payout funds to the shareholder)

- Declarative (offset losses brought forward)

Fenster schliessen

Explain the process of a declarative capital reduction!

1. audit report - assets still cover liabilities?

2. AGM resolution

3. Notarization of the reduction resolution

4. Entry in the commercial register

 

Fenster schliessen

What is important in a constitutive capital reduction?

Creditor call (3 times)

Fenster schliessen

What says the debt capacity?

The idea is to assess, how much debt is bearable for a borrower.

Fenster schliessen

When is a loan considered a non-performing loan?

- 90 days unpaid interest

- 90 days overdue amortization

- 90 days credit overdraft

- breaking of financial covenants

- granting special conditions

Fenster schliessen

What are the liability risks (Haftungsrisiken) for a bank?

- Taking of equity stake

- role as restructuring consultant

- definition of turnaround concept

- retardation (Verzögerung) of bankruptcy

- engravement of solvency situation

Fenster schliessen

What are the main features of a restructuring loan?

- Special purpose

- Closeness to the borrower

- only against collaterals

- covenant

- no 3rd party is willing to grant a loan under these circumstances

Fenster schliessen

What is a debt equity swap?

- Liabilities are transfered into equity

- Economically, the debt position is reduced new equity is created

- From a legal perspective: Debt equity swap capital increase with contribution in kind (Sacheinlage)

Fenster schliessen

Why is the debt equity swap a very controversial topic?

For a contribution in kind, there has to be a valid service in return; if not this constitutes a fraudulent share issue (betrügerische Aktienausgabe)

Fenster schliessen

Which three valuation principles are available?

- cost

- lower of cost and market

- FMV

Fenster schliessen

In a revaluation case when you have three buildings with the following values how do you revaluate them (show the bookings) and why?

 

Building 1                           Building 2                      Building 3

Book value: 3'300              Book value: 5'438          Book value: 3187

Cost:           5'000              Cost:            8'500          Cost:           3'500

FMV:           4'500              FMV:            4'375         FMV:           7'000

1. Land % Buildings / Appreciation 1200

Revaluate on lower of cost and value if the value is under cost the bookings are booked in the P&L and not in revaluation reserves

 

2. Depreciation / Land & Buildings 1'063

Revaluate on the lower value from cost and FMV also if it is under book value

 

3. Land & Buildings / Appreciation                   313

    Land & Buildings / Revaluation Reserve   3'500

Revaluate on lower of cost and FMV. In this case the FMV is even higher than cost so you can in addition revaluate with a second booking on the FMV, the difference between cost and FMV has to be booked on the Balance sheet and in the revaluation reserve

Fenster schliessen

How can the revaluation reserve be used?

- Sale of asset

- Re-depreciation of assets

- Transfer into share capital (similiar to bonus share)

Fenster schliessen

What are the measures to do on equity side?

- Capital increase / reduction

- Debt-Equity Swap

- Revaluation of assets

Fenster schliessen

What is the general goal of loan restructuring? And what is the main goal?

Obtain relief in liabilities through negotiations with all creditors.

- Amortization

- Interst

- Final due date

Main goal: Win time to apply other restructuring measures.

Fenster schliessen

Explain the issue actio pauliana!ga

If the enterprise has shortly before opening of bankruptcy done businesses and actions which was against the equal treatment of all creditors.

Fenster schliessen

Explain the subordination agreement!

- Prevent bankruptcy

- Creditors subordinate their claims in minimum amount of the over-indebtness