Bankruptcy Trends

For those who has failed in business and consequently cannot settle payments on the debts, the law provides insolvency proceeding. Sense of this procedure in giving the chance to the debtor to recover ability to meet payments, well and if it it's impossible — to allocate fairly available assets between creditors. Skillful use of insolvency proceeding allows one to receive a respite and with honor to solve financial problems.
If not to go into detail — an insolvency proceeding essence it's possible to reduce to disposal of excessive debts. Thus the state acts only as the arbitrator. The main parties in the course of bankruptcy are the bankrupt and its creditors. In our country arbitration courts are engaged in bankruptcies.

Insolvency Proceeding

By our legislation the initiator of bankruptcy can be both the creditor, and the future bankrupt which has realized impossibility to pay own credits. Thus, bankruptcy can be caused not only inability to pay off any debt (for example, a bank loan), but also impossibility to perform current payments — tax, rent, etc (Chapter 7).
If judges basically agree with necessity of bankruptcy the arbitration managing director interferes with process. At different stages of insolvency proceeding the post of this person can be called differently: the temporary manager, administrative or competitive managing director, but an essence from it does not change.
The arbitration managing director should secure the most complete satisfaction of requirements of creditors: or to recover ability to meet payments of debtor enterprise, having performed the rehabilitation plan, or to settle payments with creditors.
After calculations are finished, the bankrupt ceases the existence. And together with it cease existence and all its debts which it was not possible to pay. As a rule, this action will make a professional bankruptcy attorneys work out, thus will show obvious tears in the legislation, or will underline legal talent of the lawyer.

Press: After landing the business last spring, Zulu Alpha Kilo is launching a new brand platform for the Interac brand and the organization behind it.

The Interac Be in the Black™ platform extols the benefits of using your own money for everyday purchases.
“We want Canadians to know that the end of the month doesn’t have to seem like the end of the world,” says Chief Creative Officer and CEO of Zulu Alpha Kilo, Zak Mroueh. "When you use your own money instead of credit, you can simply enjoy what you buy instead of worrying about paying it off."

The 360 campaign consists of TV, out-of-home, video pre-roll, and standard and rich media banner ads – along with a social promotion – meant to inspire positive conversations around the many benefits of using Interac products and services.

“It’s crazy to think that people are using credit for everyday purchases like groceries, or a cup of coffee,” says Ron Smrczek, Executive Creative Director, Zulu Alpha Kilo. “In our launch spot, we enlisted AC/DC’s iconic rock anthem, Back in Black, and some over-the-top pyrotechnics to bring the swagger back to the notion of using your own money.”

The creative is supported with a national digital media campaign that is handled by Media Experts. French adaption for the Quebec marketplace was developed by TANK. The campaign will run into the spring.