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Company Reconstructions

IT-Relations ECTS

Company Reconstruction of IT-Relations ECTS

Fylgia supported in the reconstruction of IT-Relations ECTS. When the decision to reconstruct a company is made, there are essentially two main effects: firstly, the company management is protected from personal liability for tax liabilities for the period prior to the application and, secondly, that the company is protected from compulsory enforcement measures such bankruptcy enforced by creditors.

Our reconstructor Ulf Andersen has been a great partner who managed to create trust in all the parties involved” said Peter Larsson, CEO at IT-Relations ECTS.

Peter Larsson
CEO at IT-Relations ECTS

THE CLIENT:

IT-Relations ECTS is a system integrator which supplies companies and organisations with IT-related products and services, and since establishing has increased its turnover year on year. During the first quarter of 2013 the company suffered liquidity problems. This resulted in worse delivery conditions for the company and demands for early payments, which in turn affected the products with small margins.

OUR COOPERATION:

When a company wants to make a reconstruction, the first step is to make an application for reconstruction together with a reputable reconstructor. This provides an outline of the situation that the company faces, and requests creditors to lower their demands at a rate of between 25 and 75 percent. When the decision to reorganize is made, then the company may acquire the mandate to control the situation. In this case, the creditors chose to accept the composition and the company survived and has since flourished.

– “Our reconstructor Ulf Andersen has been a great partner who managed to create trust in all the parties involved” said Peter Larsson, CEO at IT-Relations ECTS.

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