By norlinglaw

When a company cannot pay its debts, often people believe there are only two broad options, pay or liquidate.

This is not true.

There are some great options in the middle.

In this video, Brent Norling discusses ways to compromise with your creditors if you are no longer in a position to pay. For example, did you know if you get the majority of creditors in agreement, you can bind all creditors to a proposal?

Don’t let creditors get frustrated and chase you.

The key to success in dealing with your creditors and getting their agreement to an alternative proposal is:

  • Be proactive; and
  • Communicate.

Remember, hope is not a strategy!

If you need help navigating your options, we offer a FREE 30-minute legal consult. Get in touch:

You may also like

Liquidator Replacement: Scarbro Construction
There are a number of companies the Scarbro Construction Group, some of which are in liquidation. We act for creditors of Scarbro Construction. On behalf of our clients, we believe that the liquidators ought to be replaced with ...
Who Pays the Insolvency Practitioner?
So an insolvency practitioner has been appointed. So who pays his bills? The creditors? The person who appointed? The shareholders? Or? In this video Brent Norling gives a quick rundown of who is required to pay the practitioner’s ...
How Funds Are Distributed in a Liquidation
If you find yourself in the unfortunate position of being owed money from a company in liquidation, then this video is for you. When a company is liquidated there is a priority regime that must be followed when it comes to ...
Page 1 of 18