What actions should be taken to recover the company?
Plan your company’s recovery!
When a company enters a cycle in which its liabilities are greater than its assets, it is time to move forward with a recovery plan for the company, with a view to restructuring the business and activity, so that it can become sustainable. Since the company has high liabilities, the risk of non-compliance with its obligations or their accumulation is a reality, putting the company in a situation of imminent insolvency.
Anticipating scenarios and capturing a work team that, together with the company manager or administration, can analyze the business and define alternative paths is the key point for recovery and future sustainability.
The full awareness that insolvency is a natural risk for any company is important for the entrepreneur to be equipped with analysis mechanisms and action plans aimed at achieving alternative ways of survival of the business.
Business Recovery Vectors
Both through judicial and extrajudicial means, there are several methods that allow the company’s recovery, and the Recovery Plan is provided for in the Code of Insolvency and Company Recovery.
In the case of the company’s Recovery Plan, the analysis of conditions is carried out on a case-by-case basis. There are deeper restructurings, or others that adapt more quickly and simply, but the common goal is: to make the company stable and sustainable.
O que significa recorrer à insolvência?
When a business finds itself in a complex financial situation, it can resort to insolvency to proceed with the recovery. The company is, therefore, with outstanding payments suspended, for a period of time, allowing, in this way, to obtain a restructuring period.
- Insolvency via extrajudicial – The recourse to extrajudicial means, for the recovery of the company, can be carried out, if it complies with the procedures imposed by the entity that manages the support.
- Insolvency via legal proceedings – In the case of legal proceedings, the Insolvency Plan is presented to creditors, who must approve the respective plan at the Meeting. It is the creditors who will carry out the analysis, debate and reformulation proposals, with a view to a plan consistent with the activity in question. In this type of insolvency, it is always up to the creditors to make a decision for the business, which may be accompanied by the entrepreneur.
Dual Up Consulting Business Recovery Plan
The success of a Recovery Plan depends, in large part, on the team chosen to be able to establish an alternative path to the business, which allows for the company’s recovery.
It is in the Recovery Plan that all the company’s lines of action are compiled, in order to change the course of business, and from it a set of possible measures can be derived:
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