Every business is founded and works with a specific goal. Nevertheless, sometimes comes the moment when the economic entity cannot pursue its financial obligations to the lenders as well as in the pay and tax payment.

Proper understanding and knowledge of the insolvency process not only helps to avoid the negative consequences, but also to exploit the opportunities that arise.

The insolvency of a company can be seen as an instrument of a way out for the business entities of an acute financial crisis. The basis for the insolvency proceedings of an enterprise are specific legal and economic acts, the result of which is exemption from debt and repayment of credit, which further allows to receive investments or other measures to improve the business. For the debtor, this is a way to save the liquid assets for the deletion of debts with professional and proper implementation of this procedure, taking into account all legal aspects.

Bankruptcy is the court-recognized impossibility to restore the debtor’s solvency and to meet the lenders’ claims, other than through bankruptcy proceedings. The bankruptcy of the company is legally considered a fact after the court has recognized the debtor as such. However, this is initiated by a lengthy and complicated procedure for bankruptcy recognition, whereby the lawyers of our law firm can help you represent your interests. The insolvency procedure itself can go through very differently, depending on the specifics of the situation.

Services in business liquidation and insolvency proceedings

Law firm professionals have participated in several court cases related to bankruptcy and business set-up and have shown themselves very positive in the given situations. Today we are ready for you to work out a concrete strategy on how to rescue your company from the crisis, which contains a complete list of the actions to be performed, with the possibility of subsequent monitoring in each of the listed points.

In this field, the professionals of our law office provide the following services:

  •  Assessment of acute risks of a particular entrepreneurial subject;
    • Services of a bankruptcy trustee;
    • Countermeasures against the initiation of bankruptcy;
    • Representing the interests of lenders;
    • Arranging and conducting scheduled and unscheduled meetings of lenders;
    • Legal support of activities of foreign bankruptcy trustees;
    • Advice on the inventory directory of the debtor;
    • Defense of the legal interests of the debtor during the insolvency proceedings;
    • Collection of overdue debit liabilities;
    • Participation in bankruptcy proceedings in court;
    • Legal support of the company in bankruptcy;
    • Execution of the sale;
    • Conducting negotiations for amicable settlement;
    • Drafting the text of a settlement agreement, supporting its conclusion and judicial confirmation;
    • Preparation and implementation of bankruptcy restructuring;
    • Judicial and extrajudicial liquidation;
    • Business resolution of the physical entrepreneurial subject;
    • Business resolution according to owner’s request;
    • Document archiving.