- Contact us
If the situation allows, we would advocate the recovery of a business via restructuring. This would be advantageous for you and your creditors, as a successful restructuring allows a business to remain open, to maintain jobs, conserve client relations with the business, the maintaining and sometimes solidification of the creditors holding a guarantee, the maintaining of a stockholders actions value.
Two types of restructuration exist: informal and formal.
Informal: Possible if the business does not have many creditors, the cause of insolvency has been identified, and a fast solution can be applied.
Formal: Takes place under the protection of the bankruptcy and insolvency law. This type of restructuring allows the business to freeze its debts starting a given date, to suspend all legal procedures against it, does not allow a creditor to enforce its security, to give the company the necessary time to research new capitals or finances. Once a solution to the problem of insolvency has been found, an offer is given to creditors (payment offer), in which case they assemble and vote whether they will reject or accept the offer. Once the creditors have accepted the offer, the Tribunal confirms the offer.
The business recovery plan equally considers the factors that affect operational aspects that finance the business.Contact a member of our team
Our advisors are there to help you!