Debt collection for foundations, review of investment possibility.
Article posted in | VEAT
A company had a considerable debt to B Foundation. Believing that B Foundation, which has a public purpose and role, would surely repay, it had provided services on credit for a significant amount. However, as B Foundation continued to postpone debt repayment, A company sought legal advice from Law firm Veat regarding pursuing debt collection for the debt and exploring the possibility of acquiring a stake in B Foundation and participating in its operation if collection proved impossible.
Law firm Veat investigated whether debt collection from B Foundation was possible by understanding the nature of a foundation under the Civil Law and the legal principles regarding its basic property. It also analyzed whether A company could acquire a stake in B Foundation, and if so, the requirements and procedures for doing so, and provided this information.
Thank you.
Law firm Veat