COVID-19: Steps creditors in Europe can take against debtors to secure the payment of a debt

COVID-19, and the resulting restrictions put in place on many businesses, has materially impacted their ability to conduct their business effectively, resulting in serious declines in revenue. This, unfortunately, will likely result in liquidity issues for numerous European businesses, potentially necessitating the initiation of bankruptcy and other proceedings against a debtor to secure the payment of an unpaid debt.

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