{"id":7696,"date":"2024-08-01T17:49:58","date_gmt":"2024-08-01T22:49:58","guid":{"rendered":"https:\/\/pierreroy.com\/?page_id=7696"},"modified":"2024-08-01T18:03:09","modified_gmt":"2024-08-01T23:03:09","slug":"notice-of-intention","status":"publish","type":"page","link":"https:\/\/pierreroy.com\/en\/notice-of-intention\/","title":{"rendered":"Notice of Intention"},"content":{"rendered":"<section class=\"page-section\">\n<div class=\"container\">\n<div class=\"grid_7\">\n<p class=\"lead\">When a company fears that one or more creditors may take legal actions that would harm its operations but lacks the time to prepare a full proposal, it is possible to file a notice of intention.<\/p>\n<h2>Reasons to file a notice of intention<\/h2>\n<ul>\n<li>imminent seizure of the company&#8217;s assets or bank account by a creditor or tax authorities;&nbsp;<\/li>\n<li>undue pressure exerted by essential suppliers preventing the company from operating;&nbsp;<\/li>\n<li>imminent cutoff of public utilities such as electricity and natural gas.<\/li>\n<\/ul>\n<p>The notice of intention is a simple document that informs creditors that a proposal will be submitted to them soon. The notice of intention halts all proceedings against the company and prevents future proceedings.<\/p>\n<p>Once the notice of intention is filed, a proposal must be presented to creditors within 30 days. During this period, the trustee will carefully analyze the company&#8217;s situation and examine its financial statements, assets, and other relevant documents. This will allow the trustee to present the creditors with a statement of the company&#8217;s affairs.<\/p>\n<p>The initial 30-day period can be extended up to a total of 6 months if the company needs time to reorganize its affairs, update its financial and accounting information, solicit investors or potential buyers, refinance its debt, etc.<\/p>\n<\/div>\n<div class=\"grid_5\">\n<div class=\"box border-box\">\n<h4>In summary<\/h4>\n<ul class=\"naked v-spaced\">\n<li>The notice of intention allows for immediate legal protection against creditors.<\/li>\n<li>It protects the company against actions and seizures.<\/li>\n<li>It allows the company to continue its operations.<\/li>\n<li>It provides a period of 30 days to 6 months to file a proposal.<\/li>\n<\/ul>\n<\/div>\n<div class=\"box light-blue-box\">\n<h4>We are here for you<\/h4>\n<p>We will be by your side, as a trusted partner, to restore the success of your company and enable it to continue its operations. Schedule an appointment with us for a free, no-obligation initial consultation.<\/p>\n<p><a class=\"button red\" href=\"\/en\/free-consultation\/\">Schedule an appointment<\/a><\/div>\n<\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>When a company fears that one or more creditors may take legal actions that would harm its operations but lacks the time to prepare a full proposal, it is possible to file a notice of intention. Reasons to file a notice of intention imminent seizure of the company&#8217;s assets or bank account by a creditor [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":7695,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page-full.php","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-7696","page","type-page","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Notice of Intention to File a Proposal: Give Your Business Time to Restructure - Pierre Roy &amp; Associ\u00e9s<\/title>\n<meta name=\"description\" content=\"The notice of intention protects a company and its assets from seizures and legal actions, giving it the necessary time to propose a restructuring plan.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pierreroy.com\/en\/notice-of-intention\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Notice of Intention to File a Proposal: Give Your Business Time to Restructure - Pierre Roy &amp; 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