THE ATTORNEYS AND BANKRUPTCY. THE DIFFERENCE BETWEEN A COMPETITION PROCESS OF CREDITORS AND MANAGEMENT. SMES ALSO NEED CONSULTANTS AND NOT JUST LAWYERS. THE EXPERIENCE OF AN SME IN ZARAGOZA
How bankruptcy procedures & services
Our experience in bankruptcy is that small businesses, being SMEs, hire a lawyer they processed the bankruptcy. They are not aware of the importance of managing the situation strategically.
Perhaps the small business owner thinks that hiring a professional team, and a lawyer will cost more expensive. You may think that bankruptcy is merely a technical matter. You can ignore that, depending on the outcome thereof, may lose all or, conversely, earn and save a lot.
However, a bankruptcy is most important that an employer is going to manage to play throughout his career. It is therefore very important to know to do well.
To do well will depend on the negotiations to avoid the contest itself, will depend on opportunities to refinance.
Manage them properly will buttress the employer’s responsibility to increase or disappear.
Knowing it will take affect in any agreement to achieve an agreement that will save the company and not into liquidation. Will influence which agreement is achieved, within what timeframe, how to remove.
We have recent experience with a company located in Zaragoza, in a situation of absolute insolvency. By negotiating with financial institutions are able to save the contest. The team was negotiating was a legal advisor and financial consultant. They succeeded. They did not just handle the bankruptcy. In fact all they did was tell the court Commercial Court of the start of negotiations. The lawyer did much to build the company legally and financial consultant prepared an excellent plan feasibility. With the combination of both skills and strategies prevented the company was insolvent.
The costs were much lower than had been dealt the ultimate contest because there was no deal. But most important is that the company and the employer saved.
The example above shows that the company must understand that bankruptcy proceedings are not only processed, managed and negotiated. Nothing is more critical to a company with financial difficulties.
In Arriaga Associates strategically manage the possible bankruptcy. We use trading strategies and always charge based on the results.
Jes√ļs Mar√≠a Ruiz de Arriaga Rem√≠rez
Lawyer and economist. Bankruptcy management specialist.