Creditor Compromises - McDonald Vague

By: Mcdonald Vague  06-Dec-2011
Keywords: Creditors

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 features:-

  • 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.

Keywords: Creditors

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