Opening restructuring proceedings is a key step that can have many positive effects for the entrepreneur. Above all, it provides protection from creditors, giving the company the necessary time to implement corrective measures. This allows the company to avoid bankruptcy, restructure its liabilities and improve its liquidity.
This procedure also allows for negotiations with creditors in a more controlled environment, which increases the chances of reaching favourable agreements. Opening restructuring proceedings makes it possible the company to focus on reconstruction and future growth, rather than a constant battle with mounting financial problems.
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