Insolvency and debt collection
A part of business are uphills and downhills for both your own company and your debtors. Insolvency means a situation where a company is other than temporarily unable to meet its debts as they become due. A separate situation from insolvency is the unwillingness of paying debts, in which a debtor refuses to pay debts for one reason or another.
Insolvency-related assignments are a part of our core competence. Insolvency consists of two primary categories.
First category is debt collection. As needed, we assist your company in collecting one or several debts, whether they are disputed or not. Regardless of how complex the situation is, we will assist you in taking control of the situation. We have experience in representing creditors broadly. We draft e.g. bankruptcy applications and represent the creditor in bankruptcy proceedings as needed. A basis of all our operations is generating added value to our clients. We recommend actions only if they are beneficial for your business.
The second category is services for an insolvent company. However difficult the situation is, we’ll assist tactfully and professionally. Two most important statutory insolvency proceedings are reorganization and bankruptcy. As needed, we assist if your company needs to be reorganized either voluntarily by agreeing with the creditors or through a statutory bankruptcy process. We assist you in negotiations with creditors or act as a statutory administrators or supervisors in a reorganization process. If needed, we will file your company for bankruptcy or give you our consent to act as administrators in a bankruptcy.