Saturday, October 12, 2013

In accordance with Articles 21 and 23 of the new Bankruptcy Act, all creditors must report general


In accordance with Articles 21 and 23 of the new Bankruptcy Act, all creditors must report general distributors the existence of their BANKRUPTCY ADMINISTRATION credit within one month from that date of publication. The late notification, under Article 92, may represent the inclusion of credit as a subordinate, significantly reducing the chances of recovery.
So, if a secured credit general distributors hold outstanding against the said firm, urgently submit relevant declaration of Provisional Insolvency Notice, along with original documentation evidencing such credit, so we can notify the relevant Bankruptcy Administration within the deadline.
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