|
The financial crisis has been dominating the news for months. An entrepreneur can run into stormy weather. If he recognises negative signs in time, he will be able to take effective measures. For example cutting costs or carrying out reorganisations. In this case legal assistance often is indispensable, among other things if staff has to be made redundant due to circumstances of business economics. But - legally speaking - the situation becomes more complicated if a future bankruptcy seems hard to avoid. The volume of the indebtedness can be so big that a reduction of costs is not enough. If a business offers a fine product with a good market, a bankruptcy could even be unnecessary as well as catastrophic. Then a restart could be a solution placing the sound business activities and part of the staff on payment of a real purchase price with a a new limited company. In this way a fine business as well as employment can be saved. However, making a restart is a tricky legal business. Taking random actions almost always turns out to be disastrous and in any case means loosing greater part of a timely and well directed restart. Publication: Stormy weather for your business, what to do? |
