Restructuring is a business alteration process in companies that still continue their activities, have or may have temporary financial difficulties and seeking to avoid bankruptcy.
The purpose of restructuring – to repay debts to creditors, restores a company’s solvency, and prevents it from bankruptcy.
The company being restructured stays managed by shareholders and director, under the supervision of a restructuring administrator; the company gains a temporary protection against its creditors. It is prohibited to seize assets of the company being restructured or to initiate bankruptcy proceedings against it; reckoning of penalties and interest is suspended, since the company, in accordance with the restructuring plan and schedule, is obliged to repay debts to creditors and to pay all current disbursements.
For Business Clients
For private clients