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Insolvency Plan Procedure as an Opportunity

AON CREDIT has invited customers and guests to attend a seminar: Active Control of Credit Risks, a late-breaking event with PKL Keller Spies and PASCHEN being held in Frankfurt on September 3, 2009. Our experts will illustrate how to insure yourself against higher risks and improve your liquidity, how an Insolvency Plan Procedure works in detail and describe how your company can benefit from it.

The Insolvency Plan Procedure was adopted in 1999. Taking part in an Insolvency Plan Procedure can retrieve a company from bankruptcy and secure a commercial consumer in the long term. Advantages: Past wrong decisions can be remediated, expensive rental and leasing contracts can be cancelled. Employment contracts can be concluded faster and work flows can be reorganised. Wages and salaries will be paid by the Federal Employment Office for 3 months and loans will not have to be paid off. The Insolvency Plan Procedure gives creditors of bankrupt companies the opportunity to participate actively in the procedure and to compensate for the loss of receivables.