EWDA10 Although economists claim that the economical crisis we are in is starting to fade away, companies all over the world are faced with major problems. Because of the current economical crisis, the business numbers have decreased significantly, which led to a large number of the companies facing financial difficulties. Unfortunately, there aren't too many options when it comes to running away from them.
According to specialists, there are a series of options to avoid crashing, but in 2009 and 2010, most of the businessmen decided to close their businesses and simply wait for the economical crisis to disappear. However, there are also other ways to deal with the financial difficulties caused by this crisis.
The admission in composition with the creditors is a solution which consists of freezing certain debts, of eliminating some of the penalties or of rescheduling your debts. EE0-411 This is a very frequently used procedure, especially with companies which have difficulties and lawyers strongly advise that this procedure is used. This composition is a mechanism through which the companies can avoid being shut down and it consists of an agreement between the debtor and the creditors which establishes the way the company in debt is going to pay its debts. This procedure forces the debtor to admit that there are debts to be paid and to try to find solutions together with the creditors.
EE0-525 The other option would be the ad-hoc mandate. Although the two alternative companies have are much easier than shutting down, the banks seem to have problems with these two solutions because the privileged creditors are the first to recover their receivables when a company shuts down while the ad-hoc mandate offers creditors even chances of recovering them.
According to specialists, there are a series of options to avoid crashing, but in 2009 and 2010, most of the businessmen decided to close their businesses and simply wait for the economical crisis to disappear. However, there are also other ways to deal with the financial difficulties caused by this crisis.
The admission in composition with the creditors is a solution which consists of freezing certain debts, of eliminating some of the penalties or of rescheduling your debts. EE0-411 This is a very frequently used procedure, especially with companies which have difficulties and lawyers strongly advise that this procedure is used. This composition is a mechanism through which the companies can avoid being shut down and it consists of an agreement between the debtor and the creditors which establishes the way the company in debt is going to pay its debts. This procedure forces the debtor to admit that there are debts to be paid and to try to find solutions together with the creditors.
EE0-525 The other option would be the ad-hoc mandate. Although the two alternative companies have are much easier than shutting down, the banks seem to have problems with these two solutions because the privileged creditors are the first to recover their receivables when a company shuts down while the ad-hoc mandate offers creditors even chances of recovering them.
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