Bankruptcy

Reasons for companies’ liquidation can vary however in most cases it has to do with the debts the company has before its creditors and the state.

The legal insolvency institution anticipates either renovation of solvency or bankruptcy.

Bankruptcy — means that the court will recognize the insolvency of the debtor and will announce the liquidation procedure to satisfy claims of the creditors. Bankruptcy procedure can be initiated by the creditor, which has indisputable proof of payment failures.

Some companies intentionally initiate the bankruptcy procedure to bring the moratorium for property disposal and to avoid liquidation of the company. When the bankruptcy procedure is halted, solvency of the company can be renovated through sanation procedure, debt restructuring including tax debt. In case if sanation wasn’t successful, or the peace treaty wasn’t signed, arbitration will authorize bankruptcy procedure.

Specialists of our company will protect debtors’ interests and/or creditors’ interests during bankruptcy procedure through the following services:

• Consultancy services during bankruptcy procedure;
• Preventive measures to protect debtors’ property;
• Consultancy services to prevent bankruptcy;
• Analysis of financial, business and investment activity;
• Preparation of expert conclusions on the mechanics of the bankruptcy procedure;
• Preparation of necessary statute documents;
• Court representation;
• Preparation of necessary documents on the business liquidation on the behalf of creditors and debtors;
• Assistance during sanation and liquidation;
• Providing property management services during procedure.