In July 2007, a string of events unraveled on all financial markets, suggesting a steady weakening in world economies. Somewhere along 2008, tried and trusted economic mechanisms started spinning out of control and the ghost of a global economic crisis began to haunt a gaping world audience. What once seemed a Cassandra’s cry to many, from Wall Street brokers to the average home owners, has now become a pandemic nightmare that does not seem to get any better by waking up and drinking a glass of water.
So now that the reality of the global financial crisis hits hard, unleashing doom, gloom and panic, it is especially important to keep a cool head, get informed and build strategies towards regaining financial control.
GMW Advocaten has put together a task force of lawyers led by Christiaan Mensink, specialized in company and bankruptcy law and Koen Vermeulen, specialized in employment law, to address the hardships encountered by small and medium size companies in a time when the mere continuity of their business may depend on spotting the financial impasses they face, diagnosing their causes and identifying the measures that will put the ship back on course.
When confronted with cutbacks, forced reorganisation and bankruptcy issues the people behind the business cry out for quick and efficient steps towards a tailor made solution. GMW Advocaten has been providing precisely such solutions for many years, drawing on their solid experience with bankruptcy, restructuring, collective dismissal and other related issues. Ready to assist their clients by handling special fees for collection procedures, the lawyers of this task force are spot on, acting rigorously in the best interest of their client.
The following questions might have kept you awake lately. Read them through and share them with those in the know – you don’t have to face these times on your own.
- How can I swiftly recover my debts?
- How do I levy an attachment against my debtors?
- What to do if my business operations are under threat by creditors’ attachments?
- Can I propose a composition to my creditors?
- What is the value of collaterals such as pledges and mortgages?
- What about my finances/funding with the bank?
- How do I prevent bankruptcy?
- What are the consequences of a suspension of payments, if possible at all?
- Am I personally liable as a director?
- What is the role of the works council before, during and after reorganization?
- How do I initiate a reorganization process and/or how do I implement a (collective) dismissal/ procedure?