Concept selected: Anticipated proposal for agreement
DefinitionThe Act allows the possibility of either the debtor or the creditors to present a proposal for agreement alongside the bankruptcy request. The proposal can include different alternatives to avoid the liquidation of the company and preserve the professional or corporate activity of the bankrupt person.
The possible alternatives appear below:
Aquittance (percentage proposed for the reduction of the loans)
Wait (deadline proposed for the payment of the loans)
Arrangement with creditors (combination of the previous alternatives)
Another proposition (conversion of the loan into shares, holdings or social quota, or into participative loans,...).