Restructuring, Insolvency & Liquidation
We assist companies, managers, shareholders, investors, creditors and debtors in matters related to financial distress, debt restructuring, insolvency proceedings and business recovery. We provide legal support both in seeking solutions to avoid insolvency through voluntary arrangements with creditors and throughout all stages of insolvency proceedings, including filing and defending claims, increasing the insolvency estate, business recovery, realisation of assets and, where necessary, liquidation.
We provide legal assistance in the early identification of financial difficulties and in finding solutions to stabilise the business before insolvency proceedings are opened. We assist in analysing liabilities, contractual exposure and the risk of insolvency or over-indebtedness, as well as in preparing a debt restructuring strategy. We participate in negotiations with creditors concerning rescheduling, deferral, partial remission, refinancing, replacement of collateral, renegotiation of contractual terms and reaching out-of-court settlements aimed at preserving the business and avoiding insolvency proceedings. We also assist in the legal structuring of asset disposals, intra-group arrangements, changes in the operating model and other lawful stabilisation measures.
We provide legal assistance and procedural representation for creditors and debtors in the opening of insolvency proceedings. We prepare petitions for opening proceedings, objections against filed petitions, requests for interim measures and the necessary supporting documents. We assist in assessing the existence of insolvency or over-indebtedness and in protecting the client’s interests in the initial phase of the proceedings, including appeals against court acts related to the opening, refusal to open or termination of the proceedings.
We assist creditors in filing claims in insolvency proceedings, as well as debtors and other interested parties in defending against unfounded claims. We prepare objections against accepted or rejected claims, prepare declaratory actions and provide procedural representation in disputes concerning the basis, amount, priority and order of satisfaction of claims. We also participate in creditors’ meetings and protect the client’s interests when decisions are taken within the proceedings.
We provide legal assistance in actions aimed at preserving and increasing the insolvency estate. We assist in collecting receivables of the debtor, recovering unpaid contributions and shares, tracing and inventorying assets, and taking action for the termination, rescission, annulment or challenge of transactions detrimental to creditors. We prepare and conduct avoidance and related actions whenever necessary to increase the estate and protect creditors’ interests.
We assist in the preparation, discussion and defence of a reorganisation plan for a business in insolvency. We participate in negotiations between the debtor, creditors and potential investors, prepare the required documents and provide representation in the review and voting of the plan by the creditors’ meeting. We also assist in appeals against court acts concerning refusal to admit or approve a reorganisation plan. The objective, where possible, is to secure continuation of the business and better satisfaction of creditors as compared to liquidation of assets.
We provide legal assistance in the realisation of assets from the insolvency estate, including the sale of assets and property rights of the debtor. We assist in preparing the documents for realisation, in challenging unlawful actions at this stage and in protecting the interests of creditors and the debtor in connection with the sale and the distribution of the proceeds.
We provide legal assistance in the termination and liquidation of companies and non-profit legal entities where this is the more appropriate legal route or where the activity must be finally discontinued. We assist with notification of creditors, collection of receivables, realisation of assets, settlement of liabilities and preparation of the necessary documents for completion of the liquidation and deregistration from the relevant register.
- your company is experiencing difficulties in servicing its liabilities;
- you are seeking an arrangement with creditors in order to avoid insolvency;
- you wish to restructure liabilities, collateral or contractual relations;
- insolvency proceedings need to be opened or a petition for opening proceedings needs to be defended against;
- you have a claim against an insolvent debtor and need to file and defend it;
- there are transactions or acts detrimental to creditors that should be challenged;
- you are looking for options to recover and preserve the business;
- you need assistance in the realisation of assets or in the liquidation of a company.
Contact us for timely legal advice and professional assistance with your matter.
