Working on your company’s new principle
Under certain circumstances, a company may find itself having difficulty regularly meeting its obligations, which can cause increasing problems. The law establishes that in such cases, an Arrangement with Creditors must be called upon to conduct an orderly exit and minimise damage to third parties, the company and its managers. Failure to take these measures in time may incur legal liabilities and increase the damage. In our experience, acting in a timely manner significantly reduces the negative repercussions. An Arrangement with Creditors does not imply the end of a company; it can represent a new start. However, it is a complex process to handle and requires trained experts to effectively deal with these situations.
n what situations should an application for insolvency proceedings be made?
The circumstances in which an arrangement with creditors could or should be used are diverse, but in general terms they can be summarised as follows but in general terms they can be summarised in the following groups:
