Bankruptcy Entrepreneur
Author: Engy
The bankruptcy procedure is very long and expensive: why the law considers it useful for various stakeholders only when the entity is of medium or large.
For smaller companies, however, essentially not worth the trouble and to satisfy the creditors are most useful, the ordinary individual enforcement actions.
The law, therefore, prevent the “small business” is likely to fail. But who is the entrepreneur? This definition has changed many times, and only the new rules came into force on 1 January 2008 should be the definitive one.
The entrepreneur is now the one who has three conditions jointly gender dimensions. The assets must not be over three hundred thousand euros in the three previous years or the date of start-up if more recent; revenues last year should not be over two hundred thousand euros in the same timeframe, the total debts currently be, expired and unexpired, shall not exceed five hundred thousand euros.
The lack of any of the requirements makes it inapplicable to the regulation of small business, and therefore the company can fail. Note that is irrelevant to the fact that it is an individual firm or company.
Remember also that when the total outstanding debts to the threshold of thirty thousand euro can not be declared bankrupt, or, if this information emerges only after the bankruptcy order, the procedure is immediately closed.
All requirements described above are subjective: they serve to identify subjects that are potentially susceptible to failure or not. Equally important, however, is the requirement of objective order, that is, describing the situation in the merchant: the state of insolvency. But what exactly does that mean?
Possibility Related Posts:
Posted in Crisis in enterprises | 
Tags: Bankruptcy Entrepreneur, declared bankrupt, Entrepreneur, ordinary individual, small business, The law