25 Jul, 2017
The Out of Court Payment Agreement proceeding provides a good opportunity for distressed small and medium sized enterprises to restructure their debts, despite some of the uncertainty still surrounding the procedure. This proceeding is...
11 Jul, 2017
Where an order for a consecutive insolvency proceeding is made as a result of the rendering void or breach of an Out of Court Payment Agreement, the debtor may have already made some of...
4 Jul, 2017
One of the specific provisions on the consecutive insolvency proceeding is that any creditors who have signed the Out of Court Payment Agreement will not have to request acknowledgement of their claims. In other...
30 Jun, 2017
The purpose of the consecutive insolvency proceeding is to save time and money for a debtor who has already been through an Out of Court Payment Agreement. This is why some of the specific...
20 Jun, 2017
The consecutive insolvency proceeding: meaning an insolvency proceeding petitioned by the insolvency meditator, by the debtor, or by the creditors as a result of the inability to reach an Out of Court Payment Agreement,...
13 Jun, 2017
As we discussed in earlier posts, the inescapable connection between an Out of Court Payment Agreement and relief from unpaid claims is not without complexity. Any debtor wishing to benefit from a “second chance”...
6 Jun, 2017
The question of whether or not it is first necessary to attempt an Out of Court Payment Agreement to secure relief from unpaid claims which we started to look at in earlier posts is...
30 May, 2017
An individual in debt who wishes to benefit from the new mechanism for relief from unpaid claims under article 178 bis of the Insolvency Law must first go through an insolvency proceeding and that...
23 May, 2017
The notice to the court with jurisdiction for the insolvency order on a debtor who has opted to negotiate an Out of Court Payment Agreement is not made by the debtor himself (which is...
16 May, 2017
One of the main benefits of the Out of Court Payment Agreement proceeding is that it allows use to be made of the “preinsolvency notice” under article 5 bis of the Insolvency Law, following...
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