Question 1

What is a Declaration Of Solvency Form

Accepted Answer

The Declaration of Solvency Form is a crucial document in Swiss corporate governance and financial compliance. It is typically required during significant corporate events such as mergers, acquisitions, capital reductions, or as part of annual compliance requirements. The document serves as a formal statement where directors or authorized representatives declare, under Swiss law, that they have conducted a thorough investigation of the company's affairs and have reasonable grounds to believe the company can meet its liabilities as they fall due. This declaration must comply with the Swiss Code of Obligations and may require verification by external auditors or notaries, depending on the circumstances. The form includes detailed financial information, projections, and supporting documentation to substantiate the solvency declaration.

Question 2

What sections should be included in a Declaration Of Solvency Form

Accepted Answer

1. Company Identification: Full legal name of the company, registration number, registered address, and any relevant business identifiers. 2. Declaration Date: The effective date of the solvency declaration. 3. Purpose of Declaration: Statement explaining the reason for making the solvency declaration (e.g., annual requirement, corporate transaction, regulatory requirement). 4. Financial Position Statement: Formal declaration of the company's current solvency status, including confirmation that all known liabilities can be paid as they fall due. 5. Assets and Liabilities Summary: High-level summary of the company's current assets and liabilities. 6. Director's Confirmation: Statement confirming that the directors have made full inquiry into the company's affairs and have formed the opinion that the company is solvent. 7. Basis for Declaration: Explanation of the information and evidence relied upon in making the solvency declaration. 8. Signature Block: Space for required signatures, including directors and any required witnesses or notary.

Question 3

What sections are optional to include in a Declaration Of Solvency Form

Accepted Answer

1. Regulatory Compliance Statement: Required for regulated entities such as financial institutions, confirming compliance with specific regulatory capital requirements. 2. Group Company Statement: Required for companies that are part of a corporate group, describing any relevant parent company guarantees or inter-company positions. 3. Contingent Liabilities Declaration: Optional section for companies with significant contingent liabilities or off-balance sheet items. 4. Future Projects Impact: For companies undertaking major projects or investments, assessment of impact on future solvency. 5. Corporate Restructuring Statement: Required if the declaration is being made in connection with a merger, division, or other corporate restructuring. 6. Auditor's Confirmation: Optional third-party verification from the company's auditors, may be required in certain circumstances.

Question 4

What schedules should be included in a Declaration Of Solvency Form

Accepted Answer

1. Schedule A - Balance Sheet: Detailed current balance sheet showing all assets and liabilities. 2. Schedule B - Cash Flow Projection: 12-month cash flow forecast demonstrating ability to pay debts as they fall due. 3. Schedule C - Major Creditors List: List of significant creditors and payment terms. 4. Schedule D - Material Contracts: Summary of major contracts with financial implications. 5. Schedule E - Financial Statements: Most recent annual financial statements and any relevant interim financial information. 6. Appendix 1 - Supporting Documents: Copies of relevant board resolutions, bank statements, or other supporting evidence. 7. Appendix 2 - Expert Reports: Any relevant independent valuations or expert reports relied upon.

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