PREVENTION OF INSOLVENCY THROUGH CONTRACTUAL AND JUDICIAL METHODS
PREVENTION OF INSOLVENCY THROUGH CONTRACTUAL AND JUDICIAL METHODS

Summary/Abstract: Alternative ways to solve disputes may be used with the purpose of preventing insolvency. All extrajudicial means to solve disputes, from simple and pure transaction to mediation, conciliation and arbitration, are based on the will of the parties, meaning the debtors and the creditors. Judicial reorganization could be replaced by equal measures , such as preventive concordat proceedings, which don’t require a Court decision to declare insolvency , but a contract drawn up by the debtors and the majority of the creditors, signed and enforced under the mediation of an insolvency specialist, a contract whose failure should lead to bankruptcy.

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