https://www.finma.ch/en/news/2015/10/20151016-mm-hottinger/
The Swiss Financial Market Supervisory Authority FINMA initiated
bankruptcy proceedings against Bank Hottinger & Cie Ltd on 26
October 2015. FINMA was obliged to take this measure as the bank is at
risk of becoming overly indebted. The option of restructuring was
thoroughly reviewed but ultimately proved unattainable. Current
calculations indicate that privileged deposits can be fully refunded
from the bank's available assets.
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