Swiss bank Hottinger & Cie faces bankruptcy after restructuring fails
The Swiss Financial Market Supervisory Authority (FINMA) has initiated bankruptcy proceedings against 200 year old Hottinger & Cie bank, as it has failed to meet the minimum capital requirement under regulatory law.  Restructuring attempts through a planned recapitalisation and a search for a new buyer have failed to materialise.  The bank is believed to have have around 50 employees, 1,500 clients and assets of $148m.  

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