Companies: There’s life after insolvency. Consultants: Don’t rely on banks
Autori:
Adelina Mihai
,
Cristi Moga
10.03.2010
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.