GETTING AN FINANCING OR REFINANCING BANKRUPTCY. ARRIAGA ASSOCIATES, ATTORNEYS IN BANKRUPTCY LAW FOR SMES. NOW ALSO IN ZARAGOZA, SPAIN.
HOW TO GET AN FINANCING OR REFINANCING BANKRUPTCY?
Although not being used, the figure of bankruptcy, it can provide opportunities for financing and refinancing:
You can take advantage of a possible impending bankruptcy to bring banks and try to reach a refinancing agreement and avoid a bankruptcy that no creditor wants. If you get the refinancing bankruptcy protection is no longer necessary.
If no choice can pose a real bankruptcy. From the moment it is declared and can not pay previous debts, even to the banks. But whether it will continue charging customers. With debts prior to the contest shall be established an agreement to pay for several years and possibly take away.
If the calls are paralyzed bankruptcy foreclosures and foreclosures.
Declared the contest can be rehabilitated some contracts such as supplies, rent of buildings or offices that are necessary for the activity. You can even cancel out the evictions and practiced. This means that if a contract is essential to continue the activity, despite being resolved by default, you can restore and pay into the mass as appropriate.
Normally employers, especially SMEs, do not pose because its decision to accept the bankruptcy as a possibility or a reality only do so when the company no longer can be saved. But they raise on time, in a proactive manner, it is a good possibility.
They are often afraid to damage the image that the company may suffer. Providers will be really willing to serve after the competition much better than before because the bankrupt company now has more ability to pay and no longer have the pressure of debt that could not pay. In general, customers will rely on the company if it offers good value for money. But undoubtedly, a competition leading to a late settlement, have worse consequences for the image of the company and the employer as it will leave many workers and creditors in the lurch.
The new bankruptcy reform that is in the process tries to facilitate the refinancing of insolvent companies. Enter into negotiations with the banks for a refinancing agreement will have the same effects to be in negotiations with creditors for a composition with creditors. The refinancing agreement reached with the 75% of bank debt will force all banks to the agreement. The banks that put money into an agreement to refinance or lengthen the time, ensure that 50% of it and that will be considered as a credit against the estate, ie to be charged first.
For all the above is important to have the bankruptcy as set for managing the financing and refinancing of the company. It is very important to make time for issues of responsibility of managers but mostly to get save the company if the problem is liquidity.
Arriaga Associates is expert in the management of bankruptcy proceedings, not only of processing but also manages all pre-bankruptcy process and bankruptcy. Performs technical work and technical economic, financial and legal. But above all it offers a consultancy service to good governance.
Arriaga Associates is willing to finance the bankruptcy process.
Jes√ļs Mar√≠a Ruiz de Arriaga
Lawyer, economist, specializing in bankruptcy law. Associate Director.