Helping businesses in distress
We believe than any business, no matter how small its cash flow issues may seem, could benefit from an early legal consultation with an expert on insolvency issues. Unfortunately, very often businesspersons only take consultation when it is too late to save their business from collapse.
Our experience shows that this avoidance or consultation is due to blind confidence in the business’ capability of keeping supporting its owners, after all these years. However, more often than not, such overconfidence leads businesspersons to avoid responding in time to harmful developments, such as a “financial hump” the business can’t get over for long, or external circumstances worsening the business’ performance.
There are some red alerts any businessperson should notice, such as the need to cover the business’ deficits out of one’s personal capital, or the businessperson and his relatives offering personal guarantees in order to keep being served by providers. At this point, the businessperson should step back and consult an expert on whether to keep operating the business. Otherwise, only the business may collapse, but the businessperson and his family may lose all their savings and become liable to thousands or even million USD worth lawsuits. Unfortunately, our experience proves it happens in Israel on an almost daily basis.
Our experienced lawyers are well acquainted with relevant key officials in insolvency cases, including Official Liquidator Office representatives, which whom we cultivated years-long close relations. They are even empowered by Israeli courts of law in such cases. This will allow us to help your company reach compromises with its various creditors.