Many enterprises are extremely sensitive to a variety of economic problems including credit interest rate increases, inflation and insolvency of contracting parties.

Our clients typically seek an effective legal method aimed to eliminate debts from defaulting partners including initiation of or participation in a bankruptcy procedure.

We protect the rights of creditors (both organizations and individual entrepreneurs) in bankruptcy.

Bankruptcy advantages for creditors (organizations and individual entrepreneurs)

  • bankruptcy is an effective instrument to collect debts from indebted parties;

  • it provides a strategic opportunity in relation to relevant assets sales from indebted parties which may be more useful than an enforcement procedure;

  • in certain situations, it can provide an opportunity for creditors to stop any adverse transactions taking place, frequently leading the creditor to reclaim any property which may have been transferred to a third party immediately prior to bankruptcy.

Bankruptcy advantages for the debtors (organizations and individual entrepreneurs)

  • minimizing penalties for delay in repaying debts;

  • providing deferment of debt repayment;

  • debts may be liquidated and other obligations related to the debt may be eliminated.

Our legal services

For the creditors we provide:

  • assessment of the prospects and risks associated with a debtor’s bankruptcy;

  • assessment of prospects in court including a review of evidence required in order to initiate a bankruptcy case or petition to be included on the creditor’s register;

  • protection secured creditors right;

  • development of relevant strategy and tactics;

  • representation of interests in all bankruptcy procedures when concluding conciliation agreement and replacing assets;

  • assistance with actions against inclusion into the register the creditors requirements regarding “artificially created debts”;

  • assistance with appeals against illegal actions of bankruptcy trustees up to and including their recusal;

  • representation of creditor’s interests at the creditors’ meetings, appeal against illegal decisions made at these meetings;

  • protection of creditor’s rights related to property sales including drafting relevant action in relation to the debtor’s property sale, appeals against false property/asset estimates, appeals against/ protection in court of the funds or assets obtained as a results of a property sale, whether or not made in violation of the relevant legislation.

For the debtors we provide:

  • assessment of risks prior to initiating bankruptcy;

  • protection from fictitious creditors, finding ways out of crisis (conciliation agreement, financial recovery etc.);

  • protection of the debtor and its owners (participants, shareholders) against enterprise take-over (anti-takeover measures).

  • when no effective measures can be identified with respect to preventing a bankruptcy, we develop a bankruptcy strategy in line with the client’s commercial objectives;

  • protection of the debtors’ interests throughout all bankruptcy procedures including representation of its interests in court, preparation of legal documentation, representation at creditors’ meetings, and providing analysis of financial and business documentation;

  • assistance with debt restructuring;

  • protection of the debtors’ rights during property sales including drafting of related legal documentation, and drafting related legal documents for creditors’ meetings; appeal against the actions that violate property sale procedure established by legislation as well other methods of debtors’ property realization;

  • protection of the debtors’ rights while impeaching transactions.