How best to avoid bankruptcy

Restructuring means cutting costs and boosting your business. Finding a source of financing, cutting costs and boosting sales are the first steps that a company needs to take when it is in financial trouble, but, figures aside, people are the first to help the business back to its feet. This is the conclusion reached by over 120 businesspeople, lawyers and consultants attending yesterday’s conference “Restructure before going into crisis! What lessons can be learned from companies that could not avoid insolvency,” organised by ZF in partnership with Romtelecom, law firm Peli Filip and fiscal consultancy LeitnerLeitner, who found three solutions to avoid bankruptcy: consensual restructuring, preventive settlement and insolvency.