The issue of Russian assets was discussed again on Thursday 18 December at a European summit in Brussels. Leaders finally decided overnight not to use frozen Russian assets, as they were unable to reach agreement on this unprecedented solution.
Since its introduction into Swiss law on 1 October 2003, corporate criminal liability has given rise to little published case law, making its application uncertain.
Around 15,000 bankruptcies are opened in Switzerland every year. Over 40% of them are suspended due to insufficient assets, making them ineligible for realisation.
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At a time when international sanctions adopted by Switzerland are on the rise, Financial intermediaries are more and more exposed to the risk of running afoul of numerous ordinances regarding sanctions and anti-money laundering provisions, or even to risks of a prudential nature.
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