Bankruptcy is always a doubt. This is always an extreme measure.
But if the claims of counterparties accumulate like a snowball, and it becomes obvious that the situation can no longer be corrected, only bankruptcy makes it possible to exit the business without the risk of negative consequences for personal property and freedom. Moreover, a real one, absolutely legitimate one, instead of an «alternative» illusion.
On the other hand, if you are a creditor, then the debtor's bankruptcy can be used as the most effective way to recover the debt.
However, the effectiveness of this method depends largely on the lender’s activity. Only the one who takes the most active position in the bankruptcy procedure has more tools for debt collection. Read about one of such effective tools — subsidiary liability — in our article Subsidiary liability: boundless responsibility and eternal debt.
Regardless of which side you represent, we are always ready to provide qualified legal assistance in the bankruptcy procedure.
What is possible within the framework of the «Bankruptcy» service?
IF YOU are a DEBTOR
Analysis of the situation and risks, determination of the protection strategy
Analysis of the financial condition of the company, legal audit of accounts payable and receivables, property and personal risks of business owners that will arise both when introducing bankruptcy proceedings and in case of refusal of this tool. Analysis of the existence of the right or obligation to file a debtor's bankruptcy appellation.
Legal support of an organization in bankruptcy
Due to recent changes in legislation, the bankruptcy procedure for the debtor has become significantly more complicated. One of the innovations is that the debtor filing for bankruptcy is deprived of the right to choose an arbitration manager. In turn, creditors have been given broader powers. Now they can challenge the debtor's transactions without the participation of the arbitration manager. Thus, the bankruptcy procedure has become less controlled by the management bodies of the debtor compan.
Protection from unjustified creditor claims when entering the registry
n bankruptcy proceedings, it is important for the debtor to make a legal analysis of all the creditors' claims. It is necessary to prepare objections when creditors' claims are illegal. There are often situations in which the debt, according to the debtor's accounting department, «does not converge» with the creditors' claims.
Consultations on bankruptcy issues
Protection from subsidiary liability
IF YOU are a CREDITOR
01. Drafting an appellation for declaring the debtor bankrupt
Adoption of interim measures
— an application to the arbitration court for the adoption of interim measures;
— an application to the authorized bodies prohibiting the debtor from performing registration actions;
— n application to the tax inspectorate prohibiting the entries in the Unified State Register of Legal Entities related to the liquidation or reorganization of the debtor.
Representation of interests in bankruptcy proceedings
— we represent the interests at meetings of creditors;
— appeal to reconsider the decision of the creditors' meeting;
— appeal to the illegal actions of the arbitration manager;
— settle the bankruptcy dispute peacefully.
Entry into the register of creditors
At this stage, we carry out all necessary actions to include the client's claims in the register of creditors. If we receive a refusal to include claims in the register of creditors, we will appeal to the authorized bodies, and we will also take actions to challenge the inclusion of claims in the register of other creditors.
Challenging the debtor's transactions
As a result of the invalidation of transactions, the property that was previously withdrawn is returned to the bankruptcy estate and sold, and the funds received are sent to repay the creditor's claims.
Consultations on bankruptcy issues
Debt collection from the owner debtor
Changes in the legislation on subsidiary liability opens up new opportunities for real debt collection. Among the innovations is the possibility of collecting debts from real business owners (and not nominee directors, from whom there is nothing to take), including «abandoned», «reorganized» and liquidated companies. Read more in our article — Subsidiary responsibility: unlimited responsibility and eternal duty.