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| KEY TO A SUCCESSFUL WORKOUT & RECOVERY |
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WORKOUT & RECOVERY
Our priority is to negotiate on behalf of our client for an immediate and rapid settlement of all delinquent or excessive debt. Quick action is essential to ensure that any overdue debt does not deteriorate into legal proceedings that can lead to protracted litigation involving costly legal fees and expenses.
Our workout process involves a combination of debt reduction and restructuring, which are key conditions to ensuring a clients survival and quick return to liquidity.
Our success is attributed to our open and non-adversarial approach to creditors and our ability to define and set realistic and mutually agreeable settlement deadlines and agreements.
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Workout vs. Bankruptcy
We specialize in keeping our clients outside of bankruptcy court, while providing most of the relief associated with a Chapter 11 bankruptcy filing. A bankruptcy filing also leaves you with the worst possible credit rating and is very public and rigid. Ultimately you are at the mercy of a rigid court system and a court appointed trustee who decides which creditors get paid and how much they get paid, while you end up losing control.
To avoid bankruptcy, we can quickly and discreetly implement a negotiated workout program with your creditors. In the process, we will reduce and restructure your corporate debt and position your company for a rapid return to liquidity. This will enable your business to reap most of the benefits of a bankruptcy filing without suffering serious social, legal and economic consequences.
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| Evolution of Insolvency Practices |
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Rehabilitation and Reorganization
The primary focus of modern insolvency legislation and business restructuring practices no longer rests on the liquidation and elimination of insolvent entities but on the remodeling of the financial and organizational structure of debtors experiencing financial distress so as to permit the rehabilitation and continuation of their business.
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