bankruptcy laws
My friend Karel blogged today about FILING FOR BANKRUPTCY ON ARUBA
Not knowing the bankruptcy laws of the country where the business you do business with can be one of the biggest problems you can face. In some countries the court appointed administrator has the right to ask back for a payment made. While the purpose is clear: To protect the interests of the creditors this sometimes does not work to well - creditors might be forced to pay back a received payment. Either because their loss is considered too small in comparison with the loss of another creditor or the administrator thinks that the creditor received the payment in a try of the debtor to save assets.
A move which has put other companies into bankruptcy.
Tags: aruba assets bankruptcy laws blogged court appointed creditor creditors debtor filing for bankruptcy karel knowing received payment thinks
Not knowing the bankruptcy laws of the country where the business you do business with can be one of the biggest problems you can face. In some countries the court appointed administrator has the right to ask back for a payment made. While the purpose is clear: To protect the interests of the creditors this sometimes does not work to well - creditors might be forced to pay back a received payment. Either because their loss is considered too small in comparison with the loss of another creditor or the administrator thinks that the creditor received the payment in a try of the debtor to save assets.
A move which has put other companies into bankruptcy.
Tags: aruba assets bankruptcy laws blogged court appointed creditor creditors debtor filing for bankruptcy karel knowing received payment thinks
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