The process of financial recovery of the enterprise
Posted: Sun Dec 15, 2024 8:00 am
The financial recovery procedure for both a non-profit organization and a commercial enterprise includes three main stages: development and adoption of a plan, implementation of planned activities, and evaluation of results.
The consent of creditors to the proposed measures of financial recovery of the enterprise is required. Based on the decision of the creditors' meeting, the arbitration court introduces this regime korean whatsapp with the determination of its term of validity and approves the administrative manager.
The process of financial recovery of the enterprise
Source: shutterstock.com
The peculiarities of the functioning of the enterprise during the period of financial recovery include the preservation of the previous management bodies of the debtor company, although with certain restrictions on a number of issues. The company is deprived of the authority to perform the following actions:
concluding large transactions with the organization’s property – if their volume exceeds 5% of the book value of assets;
initiating agreements that result in new financial obligations, such as resorting to bank loans;
making decisions on any reorganizations.
To achieve the goals of financial recovery of the enterprise, specific actions are carried out, usually aimed at reducing expenses and (or) increasing the company's income. The administrative manager monitors the implementation of the planned plan - this is his main function.
The consent of creditors to the proposed measures of financial recovery of the enterprise is required. Based on the decision of the creditors' meeting, the arbitration court introduces this regime korean whatsapp with the determination of its term of validity and approves the administrative manager.
The process of financial recovery of the enterprise
Source: shutterstock.com
The peculiarities of the functioning of the enterprise during the period of financial recovery include the preservation of the previous management bodies of the debtor company, although with certain restrictions on a number of issues. The company is deprived of the authority to perform the following actions:
concluding large transactions with the organization’s property – if their volume exceeds 5% of the book value of assets;
initiating agreements that result in new financial obligations, such as resorting to bank loans;
making decisions on any reorganizations.
To achieve the goals of financial recovery of the enterprise, specific actions are carried out, usually aimed at reducing expenses and (or) increasing the company's income. The administrative manager monitors the implementation of the planned plan - this is his main function.