Collective procedures are procedures by which a company overwhelmed by debt can be saved,
its creditors rights protected, and the jobs it created maintained, where possible, especially if the failure of the debtor
risks dragging down its creditors and collaborators. Do note that the creditors must manifest themselves within a short
period of time of the announcement of the procedure to have their rights enforced, although the debtor has the
obligation to notify its creditors of the start of the procedure as well.
This is a mechanism that a company overwhelmed by debt must go through, both as a legal obligation, and to give it reprieve to reorganize its treasury and repayment plan. This may take several forms, from re-structuring the management and operations of the company, buying out the company, to its outright liquidation.
The Collective Procedure's history is regardless of the month history current setting.
|judgment_family||A succinct title of what kind of judgment the procedure is. It may be an opening judgment, an extract of the whole decision, a procedure termination judgement, and so on.|
|judgment_nature||Contains a more expressive title of what the procedure is about, or intends to achieve.|
|judgment_date||Date at which the procedure occurred.|
|judgment_description||Additional information about the decision(s) taken during the procudures, or its outcome(s)|