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Insolvency And Restructuring

Author

Listed:
  • Corneliu Belei

    (SIF Banat-Crişana S.A., Arad,)

  • Carmen Antoinette Schmidt

    (SIF Banat - Crişana S.A., Arad,)

Abstract

During a crisis period, many businesses become insolvent. Insolvency implies closing down a company through bankruptcy or reorganizing that company. In our present economical situation, closing down a business is totally disadvantageous. Because of the low demand on the market the firm's assets will be sold at a low price. Reorganizing implies approving of a plan, which offers a series of advantages to the creditors: the rescheduling of debts, the suspending of all judiciary actions, re-planning of activities, renegotiation of ongoing contracts, re-dimensioning of costs. After the period of maximum three years the company has a chance to become viable.

Suggested Citation

  • Corneliu Belei & Carmen Antoinette Schmidt, 2009. "Insolvency And Restructuring," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 12(12(541)(s), pages 665-669, December.
    • Handle: RePEc:agr:journl:v:12(541)(supplement):y:2009:i:12(541)(supplement):p:665-669
    as

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    File URL: http://www.ectap.ro/documente/suplimente/Finantele%20si%20stabilitatea%20economica_Finante_en2010.pdf
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