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Bankruptcy / preventive concordat

Companies in financial difficulty and who want to continue the activity, saving jobs and cover claims against the debtor can benefit from the services of our office.

Company’s interest will be represented in the negotiation and amiable settlement of claims’ termination (the ad-hoc mandate) or at the conclusion of an arrangement with creditors.

Ad hoc mandate is a confidential procedure, started at the debtor’s request, where an ad-hoc representative, appointed by the court, negotiate with creditors for the purpose of reaching an agreement between one or more of them and the debtor in order to overcome the difficulty condition of the latter’s company.

Preventive concordat is a contract between a company in financial difficulty and its creditors that hold at least two thirds of accepted and unchallenged value of claims. In this contract the company proposes a plan to recover and to cover creditors’ claims against it and creditors accept to support efforts to overcome the difficult situation. During the procedure, the debtor has operations in the limits of its ordinary business, in terms of preventive concordat under the supervision of a conciliator.

However, if the company will get to enter insolvency, both creditors and debtors, will have to choose a specialized representation of their interests in order to achieve the goal.