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Bankruptcy as alternative for business facing debts

Numerous companies have been forced to declare bankruptcy after failed attempts at gaining the funding from financial institutions or investors to help them meet their debts. The purpose is to maintain the survival of the company, and be able to meet any outstanding payments to creditors.

Bankruptcy as an alternative

Bankruptcy is an alternative that Lexland can help you realise. Our insolvency experts can assist debtors and creditors alike, and help guide the process from A-Z.
There are many facets to consider when applying for bankruptcy, such as the different options to choose from and their consequences, timing related issues, and most often, what part will the directors take in the responsibility of the bankruptcy! Employees also can be a very sensitive aspect to the bankruptcy procedure, raising questions such as whether a bankrupt company may use Redundancy Employment or how the bankruptcy will affect the employees? Our Labour Department at Lexland Abogados can answer all of these questions and more, and ensure that the best course of action is taken for your interests.
Many people are under the impression that only companies may apply for bankruptcy, but individuals too are eligible, and as such whether you´re debtor or a creditor, legal advice is essential in guiding this long and difficult process.
If you are considering declaring bankruptcy, or have been affected as an employee or creditor by someone that has declared, please don’t hesitate to contact us for a no obligation meeting, where we can discuss the best options tailored to your individual situation. We realize that it can be a difficult time but with our insolvency experts array of experience and success behind them, you can be assured that we will always maintain your best interests to heart.
Contact us today to find out more information!

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