Preventive Composition (Protective Composition)

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Debt Restructuring > Forum

Mohammad Hamdan, Russian Federation
🔥NEW Suppose your company is in a situation where its debts are constantly growing, the risks are increasing, and this is affecting its activities and financing possibilities, and there are great difficulties in payment. According to , your company is going to face in a short time. So, what is the procedure followed in such circumstances? Will you wait for your creditors to submit a request to declare your bankruptcy and share your assets? Or will you precede them and work hard to preserve your business and your company and advance it again? One relatively new possibility in certain legislations is "Preventive Composition" (also called: "Protective Composition"). In short, a preventive composition procedure allows a company that is facing financial difficulties but is not yet "insolvent" to utilize a court-led process to reach a settlement and restructure its obligations and assets. What is Preventive Composition? Definition The Preventive Composition Procedure (PCP) is a debtor-led, c (...) Read more? Sign up for free

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