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Term Sheet: What You Should Know Before Signing

While receiving a term sheet from your banker may seem like good news and a sign that your funding request is on the right track, it is important to know what the purpose of this document is and above all, how to decipher it. 

The Directors’ Liabilities in Case of Bankruptcy


The Directors of a corporation may be held personally liable of certain debts of the corporation. Upon the foreclosure of a corporation pursuant to a bankruptcy or receivership, should these debts not be entirely paid by the proceeds of the sale of assets, Directors could be forced to pay them personally. Here is a summary […]

Profitable & On The Brink of a Financial Abyss

Is it possible for a profitable, growing business to experience financial difficulties? Absolutely. Let’s take a look at this fictional company: it has seen its revenues grow at a rate of over 30% in the last 2 years and predict to normalize for the third year while still showing a gross margin growth ranging from […]

The Costs of Insolvency

As previously mentioned, insolvency and/or financial difficulties rarely happen unexpectedly. Several signs warn business leaders that such a situation is on its way. Unfortunately, these signs are frequently ignored. Often, management allows the situation to deteriorate without making financial diagnostics. The line of credit is being used at full capacity, payments to vendors are stretched […]

Slippery slope? Be aware of the warning signs!

The Insolvent

Leaders often refuse to face the fact: their business is on the brink of a financial abyss. This situation materializes over time and rarely unexpectedly; it is often the result of several months of carelessness and tolerance. In this regard, the first signs of a crisis need to be addressed as quickly as possible when […]