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29.01.2010
detailInsolvency business workshop: DID YOU KNOW THAT A CREDITOR CAN BRING ABOUT HIS OWN BANKRUPTCY BY REGISTERING A CLAIM AGAINST HIS DEBTOR?
CEAG announces an insolvency business workshop held at 10 o’clock on 2 March 2010 DID YOU KNOW THAT A CREDITOR CAN BRING ABOUT HIS OWN BANKRUPTCY BY REGISTERING ... 27.01.2010Business Breakfast: NewConnect
CEAG and NewConnect Warsaw will host a business breakfast on 19 February 2010 at 11 am, with a presentation of NewConnect, a new financial platform of ... 21.01.2010Business Breakfast: Selling a Firm Facing Bankruptcy
Due to the strong interest shown in the recent business breakfast series organized by CEAG, we are pleased to announce another event to be held on ... 21.12.2009The insolvency law gives an advantage to those who take steps to remedy their payment inabilities responsibly and in time
Breakfast: "Selling a firm in impending bankruptcy" On 17 December 2009, another working breakfast on the problematics of insolvency took place at CEAG, addressing the theme of ... 18.12.2009Special insolvency administration examination on the bankruptcy of financial institutions
It is our pleasure to inform our Clients and Friends that our colleague JUDr. Pavel Kolesár, who heads CEAG’s Procedural and Insolvency Law section, on Wednesday ...detail aktuality
The insolvency law gives an advantage to those who take steps to remedy their payment inabilities responsibly and in time
Breakfast: "Selling a firm in impending bankruptcy"
On 17 December 2009, another working breakfast on the problematics of insolvency took place at CEAG, addressing the theme of selling a firm in impending bankruptcy.
Among the topics discussed was the possibility of rescuing a company when the first warning signals appear of its impending bankruptcy. Many firms react to the problem too late, taking the threat seriously only when the threat of bankruptcy has become far more acute. This fundamental mistake can lead to bankruptcy proceedings being declared against a company which could have otherwise remained a healthy company; and, this as a result of the company underestimating danger it faced under the insolvency law.
The unambiguous conclusion was that it is necessary, first and foremost, for companies finding themselves in a spiral of mounting debt and payment difficulties to consult a commercial and legal advisor who will assist the company in working out an agreement with banks and other large creditors.
Depending on the circumstances, addressing a potential financial or strategic investor can be one of the solutions for a company facing bankruptcy; however, the investor would be willing to enter the company only when it is possible to achieve its healthy recovery and further expand of its commercial activity. This type of investor would be interested in a firm that falls into his strategic portfolio of companies or one that complements the enterprises in which he has already invested and gives him the chance to expand into new markets. In this situation, an investor would be willing to accept the challenges should success be possible, even when there is a high level of risk.
Mgr. Jitka Smith, J.D., JUDr. Pavel Kolesár and Margareta Křížová, MBA, presented information on behalf of CEAG.
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