Insolvency is not always synonymous with bankruptcy. It can lead to a favourable arrangement with creditors, the recovery of the company or the sale of the business. We dedicate our services to entities with financial problems - if you notice that your business is starting to struggle with problems foreshadowing insolvency, it is worth taking advantage of professional help. After analysing the situation, we will help you decide on further steps to resolve the situation. You can choose between two basic paths: restructuring your company or declaring it insolvent.
The steps we take in this process are aimed at making changes to avoid bankruptcy. Restructuring a company is a complex process allowing you to avoid possible debt enforcement – it involves sanctioning procedures and taking over the management of the company by a person appointed by the court. Alternatively, an arrangement with yourself and your creditors is made under the court’s supervision – often offering them a share in the business or other forms of redress able to resolve the dispute. Each of these options is an opportunity for your business to bounce back from the bottom and start afresh. Our role is to point you towards the available solutions and advise you on the best option in your situation.
In extreme cases, when nothing else can be done for your business, bankruptcy becomes the only option. We prepare the bankruptcy petition for you and indicate the documentation to be attached to it. We cooperate with your accountant and take full control of the bankruptcy process to relieve you of the burden of taking care of the formalities. The premise of insolvency is to close the company in such a way as to satisfy creditors and save as much of the company's assets as possible. Our services also include supporting the directors of insolvent companies from having their private assets seized as to cover company debts. Amongst other, we represent board members in cases relating to debt repayment, and we defend them in criminal cases. Our expertise includes representing clients at court hearings, as well as in front of court supervisors, administrators or receivers are involved in any such proceedings.
1. We collect documents and necessary information - we analyse the client’s situation, the extent of debts and liabilities, available assets and physical goods.
2. We verify whether the prerequisites for insolvency are met.
3. We recommend the best course of action: bankruptcy, agreements with creditors, restructuring proceedings.
4. We provide comprehensive legal services in the course of action chosen by the client.