Business Insolvency

CheckMark Inc. has extensive experience in managing corporate insolvency situations, with financial, legal and fiscal overview of business management personnel, and to advise on the most suitable way in the steps necessary to, with the objective of business continuity, if possible, to preserve the economic interests of the members and that there are no liabilities on the part of managers.

Our Experience in Corporate Insolvency Situations

The processes of raising, financial restructuring and operational restructuring, should apply, preferably outside the bankruptcy proceedings. It's time to rush to any of the processes discussed, that in every situation or when needed, avoid reaching insolvency and consequently have to face bankruptcy proceedings.

Bankruptcy

In any case, debtors must pay particular attention to the obligation under Art. 5 of the current Bankruptcy Act, within the meaning of the insolvency request within 2 months from the date on which he would have known his name or insolvent. For the application of debtor companies’ bankruptcy, it must be seen from the following three perspectives:

1. It is a way to carry out a financial restructuring of the business.
2. It is the legal protection in defense against actions that may promote the creditors.
3. It is to the extent necessary and unavoidable to meet the provisions imposed by the Bankruptcy Act.

Our performance in corporate insolvency situations

It may include the following services:

• Preparation and internal planning of the company in all areas to carry out the process
• Determination of convenience, necessity or legal obligation to request voluntary bankruptcy
• Previous diagnosis of the situation of the company, from a global perspective of business, economic, financial, legal and tax
• Determination of convenience, necessity or possibility to request the Commercial Court of the start negotiating a refinancing agreement with financial institutions
• Preparation of a feasibility plan
• Preparation of a refinancing agreement
• Support in negotiating with financial institutions
• Where appropriate, preparation of the report in accordance with Article 6 of the Bankruptcy Act must accompany the application to be declared insolvent
• Submission of application documents bankruptcy
• In your case, preparing a proposal for agreement of creditors
• Management support during the pre-insolvency and bankruptcy period
• Address legal procedure
• Support in achieving sufficient quorum in the creditors

CheckMark has been dedicated to providing, fast, easy-to-use, affordable accounting and payroll solutions to small and medium-sized businesses since 1984