LAWYERS BANKRUPTCY. CREDITORS CONTEST COMPANIES WITH FINANCIAL DIFFICULTIES. THE BENEFITS OF BANKRUPTCY. ARRIAGA CAN MANAGE AS PARTNERS. NOW ALSO IN ZARAGOZA, SPAIN. Reviewed by Momizat on .   CREDITORS CONTEST COMPANIES WITH FINANCIAL DIFFICULTIES. THE BENEFITS OF COMPETITION OF CREDITORS At present many companies are in a situation that can not me   CREDITORS CONTEST COMPANIES WITH FINANCIAL DIFFICULTIES. THE BENEFITS OF COMPETITION OF CREDITORS At present many companies are in a situation that can not me Rating: 0
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LAWYERS BANKRUPTCY. CREDITORS CONTEST COMPANIES WITH FINANCIAL DIFFICULTIES. THE BENEFITS OF BANKRUPTCY. ARRIAGA CAN MANAGE AS PARTNERS. NOW ALSO IN ZARAGOZA, SPAIN.

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CREDITORS CONTEST COMPANIES WITH FINANCIAL DIFFICULTIES. THE BENEFITS OF COMPETITION OF CREDITORS

At present many companies are in a situation that can not meet payments. Reasons:

a) They have problems because they lack the funding to which insolvency may be transient and reversible.

b) For the if situation and is final so its insolvency and is irreversible.

In both cases you need a lawyer-economist-consultant to manage and optimize the situation.

If a company is insolvent in a temporary situation) from the same state of bankruptcy the company can find a definitive solution to solve their financial problems.

If a company is insolvent in short, from a strategic approach to bankruptcy:

a. – You can refinance the debts with the banks to avoid bankruptcy.

b. – You can get an agreement to remove delays and allow the company to raise the competition.

c. – You can get an orderly sale of its assets to avoid the harmful and ridiculous amounts that can be achieved in a liquidation.

d. – You can get the partners to recover more money for debts that are in your favor and you can better manage personal responsibilities of partners and managers.

In conclusion, through appropriate management bankruptcy many companies can get out angry.

Types of bankruptcy

There are two types of bankruptcy.

a. – The volunteer .- that is when the owners of the companies benefiting from it voluntarily.

b. – The Forced .- It is the request by creditors, it is more expensive and complex it becomes difficult for the company to succeed despite their current situation. In this

The company is interested in voluntary bankruptcy for the following reasons:

a. – All executions have definitely raised the company, except for mortgages that are stalled for a year.

b. – All debts before the contest are final stops until the approval of the agreement or settlement, with no old debts that the business can soar.

c. – Suspended interest on loans.

d. – The possibility of achieving agreement by the Commercial Court that the debts are reduced and / or deferred in time.

e. – The lawyer-economist will make a series of works both as a lawyer and an economist in accordance with the different phases of the agreement:

As an attorney prepare the application for bankruptcy, will prepare a proposed agreement, represent the company in the contest, intervene in the determination of active and passive mass, list of creditors, your score will represent the company in separate incidents bankruptcy, resources, will present proposed agreement, settlement, will defend the partners so that their responsibilities do not reach their personal assets, etc..

As an economist prepare various financial reports to apply for the competition, develop sustainability plans, negotiate with creditors and banking.

Arriaga Associates, lawyers, economists, consultants with experience in the field of bankruptcy law, business plans and financial plans, can help any company to overcome this situation in the best conditions, optimizing the entire process.

Jesús María Ruiz de Arriaga

Lawyer. Economist. Associate Director.

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