Photo: Fotis Fotopoulos
A software company was burdened by heavy debts. However, the product itself was viable; not only the company believed this, but there was also an investor willing to finance further growth. Therefore, it was decided in consultation to apply for a moratorium on payments. Normally, this is the first step towards bankruptcy, but in this case, shortly after the moratorium was granted, an agreement was reached with the creditors, ensuring the company’s continued existence. The moratorium could then be withdrawn.
