Most of the companies that went insolvent stand high chances of avoiding bankruptcy, but to do it they must not expect financing from banks. This was the conclusion of the "Insolvency, the chance of restructuring a business in times of crisis" seminar organised by Ziarul Financiar in partnership with Noerrr, BDO, SMDA, Schoenherr and Casa de Insolventa Transilvania (Transilvania Insolvency Firm) yesterday.
Insolvency specialists say that they do not know of any companies in the last five years that have managed to get loans from banks after starting the procedure, so that the "fresh money" needed has to come from somewhere else.
Adrian Olteanu, general manager of Flamingo, presented a report on the situation of the company three months from the start of the insolvency proceedings, saying "there is life after insolvency", which means that although the company closed two stores, it had opened three lately.
The difficult thing to do was persuade suppliers, clients and even its own employees that insolvency does not equal bankruptcy and the company actually stands chances of a successful reorganisation.
Most of the companies that went insolvent stand high chances of avoiding bankruptcy, but to do it they must not expect financing from banks. This was the conclusion of the "Insolvency, the chance of restructuring a business in times of crisis" seminar organised by Ziarul Financiar in partnership with Noerrr, BDO, SMDA, Schoenherr and Casa de Insolventa Transilvania (Transilvania Insolvency Firm) yesterday.
Insolvency specialists say that they do not know of any companies in the last five years that have managed to get loans from banks after starting the procedure, so that the "fresh money" needed has to come from somewhere else.
Adrian Olteanu, general manager of Flamingo, presented a report on the situation of the company three months f
