The bankrupt in the United States and Spain. Why General Motors in the United States protects free complexes in the protection of bankruptcy law and Spanish companies are reluctant to call the bankrupt? Why in America is a protective measure and Spain is taken as a sign of failure? Lawyers in Zaragoza
THE CONTEST OF CREDITORS IN SPAIN IS TAKEN AS A SIGN OF FAILURE AND THE UNITED STATES AS A PROTECTIVE
Few people know that the figure of the bankruptcy of Spain is very similar to U.S. bankruptcy. Very few know that the bankruptcy or bankruptcy as there call it, is a familiar and used to save companies and not to liquidate. As they call it, is a protective measure for companies.
By chapter 11 a company in the United States, it prevents a company goes into liquidation, allowing it to continue its operations and that it can reorganize the project. The law on protection of bankruptcy is of federal origin, as codified in Chapter 11 of the Bankruptcy Law of the United States of America.
The United States appreciates good managers who use this figure to save the company and Spain, however, is sometimes regarded as failures to managers who resort to bankruptcy to revive the company, particularly SMEs.
Well, a company like General Motors (GM) covered in that chapter 11, and all caused by the credit crunch, lower sales and the crisis in general, files for bankruptcy as a means to save the company . Stated in “bankruptcy” as a measure to save the company, as it has.
For over a year this company, GM has emerged from the crisis of American society and all praised the management of its president Dan Akerson. There is broad consensus that the key to success has been the management of bankruptcy.
The Spanish could learn a lot of Americans. They love their businesses and understand that they get through wealth, employment and prosperity.
Yet our society punishes over to entrepreneurs who have entrepreneurial spirit, who have risked their heritage and they have invested their time, energy and enthusiasm. Although there is an opportunity to call the bankrupt as a protective measure of the company, as an opportunity to reorganize, often criticized and undervalued the businessman who calls the bankrupt.
But what everyone should do is to support these entrepreneurs to save their businesses and preserve jobs.
Employers need to hire lawyers, economists and consultants to carry out the process in a proactive and planned. Employers need to manage the business crisis. Do not react to their results but must be prevented.
The creditors’ meeting is an opportunity to refinance the company to stop waiting for debts that can not afford to get to refocus on the business after the pressing need to address liquidity and the pressure of payments that can not be pay.
And last but not least, it is important that the employer will save his staff to balance sheet not penalized with the greatest punishment, the loss of present and future heritage.
Jes√ļs Mar√≠a Ruiz de Arriaga.
Consultants, trainers, lawyers and economists.