… business operations and liquidity have been severely impacted by the COVID-19 measures imposed by the authorities and the resulting economic downturn
… you have received an invoice and need an extension of the payment deadline
… you are no longer in a position to pay an invoice according to the conditions agreed before the COVID-19 situation
The scale of the measures ordered to stem the spread of the COVID-19 virus and their consequences took most businesses by surprise. Many have seen their cash flow decline as a result. This has left them facing significant short-term payment difficulties and the need to restructure their debts.
Therefore, through this application, a company seeks an arrangement with a creditor to obtain additional payment time and/or debt remission on the grounds that the current circumstances and their consequences were unforeseeable at the time the claim arose.
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