Indebted companies will be forced into bankruptcy by canton

Canton Geneva is warning businesses that it will use its new powers next year and force companies into bankruptcy if they don’t pay their debts to the state.

In the past, authorities have used less draconian measures – such as seizures – to recover bad debt.

State debt includes tax, AVS contributions and fines. 

But federal law changes in January which allows cantons to take stronger action. 

The Council of State issued the warning at a press conference yesterday.

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