McDonald Vague have had
some remarkable successes with creditors compromises.
The Purpose Of A Compromise
The purpose of a compromise is to enable a company to avoid
liquidation by trading out of its difficulties. In this way
the company can survive into the future.
What Is A Compromise
A compromise is an agreement between a company and the various
classes of creditors. Most compromises have two basic
- Creditors will be repaid in full or in part over a
period. Then they are paid in part the creditors write off
the balance of the debt.
- During the term of the compromise debts are frozen and no
creditor may take action against the company.
How Can McDonald Vague Help?
For a compromise to succeed the creditors have to be convinced
that they will get more money than they would if the company was
placed in liquidation.
The creditors must also have confidence in the insolvency expert
who prepares and manages the compromise.
McDonald Vague can prepare your compromise in a professional
manner in which the creditors will have confidence. This will
give your company an opportunity to survive.