Composition proposal

Avoid bankruptcy with a proposal

ARE YOU LOOKING FOR A SOLUTION THAT WILL ENABLE YOUR COMPANY TO GET OUT OF DEBT WHILE CONTINUING TO OPERATE?

Syndic N. Séguin Inc. has the solution for you: the concordat proposal is our preferred approach to the bankruptcy.

It is often used in the commercial sector, as it is a practical and flexible solution for getting back on track.

MAKE AN APPOINTMENT

Free, confidential consultation

  • Ce champ n’est utilisé qu’à des fins de validation et devrait rester inchangé.

What is the composition proposal?

The proposal is an agreement that the trustee makes with your creditors. creditors. The aim of this agreement is to enable your company to continue its activities by extending the repayment period and readjusting the amount according to your company's ability to meet its obligations.

All stakeholders stand to gain from this agreement:

  • You : Allows you to keep your business, continue operations and pay off your debts.
  • Your creditors : They raise more money than they would have if you had opted instead for a commercial bankruptcy.

Steps in the composition proposal

  1. Consultation with a building manager
  2. Filing the notice of intent
  3. Filing the proposal
  4. Suspension of garnishment, legal proceedings and payments to creditors
  5. Presenting the proposal to creditors
  6. Creditors' meeting
  7. Approval of the proposal
  8. Repayment of the amounts agreed in the proposal

Notice of intent

Short of time to prepare your proposal? You can already file a notice of intention. This simple document notifies creditors that a proposal will be filed within the next 30 days.

In this way, you can avoid any legal proceedings or measures that your creditors might take, which could have a negative impact on your company's operations.

IS A PROPOSAL THE BEST OPTION FOR MY COMPANY?

Here are a few questions to ask yourself before deciding whether a proposal is the right choice for you:

  • Have you ever gone bankrupt?
  • Do you have the means to meet some of your obligations?
  • Do you have a professional license?
  • Do you have assets worth more than the sum of your debts?
What are the advantages of a proposal?

THE COMPOSITION PROPOSAL IS AN INTERESTING OPTION FOR SEVERAL REASONS:

  • The composition proposal is not governed by rigid terms and conditions, allowing you to adapt the amount and repayment period to your situation, as long as these are reasonable and accepted by the creditors.
  • You won't have to negotiate with creditors; the syndic takes charge of the whole process.
  • Regardless of the amount of your debt, you are eligible for a proposal.
  • From the moment this proposal is submitted, payments to creditors, garnishments and legal proceedings are suspended.
  • Stopping payments as soon as the notice is filed saves you time and extends the repayment period for your debts.
  • IndividualsThe same is true for companies that are eligible for this proposal.

THE EXPERTISE OF SYNDIC N. SÉGUIN INC. IN COMPOSITION PROPOSAL

Our team is made up of experienced professionals ready to listen to your needs. We know that a fragile financial situation is an undeniable source of anxiety. Rest assured that the pressure will be taken off your shoulders as soon as our syndic's financial advisors take over the negotiations.

You can also count on our expertise to help you draw up an effective financial turnaround subsequently. 90% proposals presented to the court by N. Séguin Inc. were accepted.

CONSULTATION WITH OUR MANAGING AGENT

Eliminate your debt and help your business get back on track by booking an appointment today! The first consultation is free, fast and completely confidential.