Assets protection is a counteraction to aggressive actions of creditors. Protection from subsidiary liability, questioning transactions and other actions leading to the loss of property.
Currently, the practice of bringing owners and managers of companies to subsidiary liability is rapidly gaining popularity. Due to changes in the bankruptcy legislation, this procedure has been significantly simplified. In addition to the direct head — the director, the legislator gave the opportunity to force other employees of the company to respond with their personal property, for example, the chief accountant, lawyer and other controlling persons.
Now it is possible to bring to subsidiary responsibility both for committing actions to the detriment of society, and for failure to file a bankruptcy application, misleading of accounting documentation.Nevertheless, there are approaches that allow avoiding the responsibility if guilt is not proven. Read more about this in our articles.
Why is Asset Protection necessary?
✓To reduce the personal risks of managers and business owners (criminal, administrative, recovery of losses and subsidiary liability)
✓To preserve the company's assets from existing or possible encroachments.
What will you get as part of the service?
A report with an analysis of the existing situation.
A Plan of practical actions to reduce the identified risks.
Implementation of the protection plan.
Representation of interests in courts, in other administrative bodies, negotiations.