Business in Crisis
In view of our country’s already emerging economic crisis, it is expected that your business will face financial difficulties that you could not diagnose in time and that are not solely due to your own fault. However, with the appropriate actions it is possible to avoid the termination of the enterprise and to make it viable and profitable. Legislation provides us with several possibilities in this direction, both with the existing reorganization procedures, as well as with regular and irregular adjustment of business debts.
But even if the rescue of the company becomes inevitable, with the appropriate actions, it is possible to avoid or reduce the casualties, without causing any outstanding debts or other penalties. Thus, the termination and liquidation of the legal entity, the conversion to another legal entity, the sale of the enterprise as a whole, the bankruptcy, etc. must be initiated.