rescue proceedings

Rescue proceedings are legal processes designed to help financially distressed businesses avoid bankruptcy and preserve their operations. They allow a struggling company to restructure its debts, receive financial support, and continue operating while developing a plan to regain stability. This process typically involves negotiations with creditors, court involvement, and the creation of a recovery plan. The aim is to maximize the chances of survival for the business, protect jobs, and ensure better returns for creditors compared to liquidation. Rescue proceedings aim to balance the interests of the company, its employees, and its financial stakeholders.