Our team is working in a case of a client who is a creditor of a trade company against which in 2013 an insolvency procedure was opened. The lawyers involved in the case are representing the client even before the start of the court proceedings against his contractor. We have provided consultations to a client in order to ensure timely his receivables to the insolvent debtor. Its existing receivables were converted to cash in view of their easier entry into production and acceptance by the syndic of the debtor.
At started in 2011 proceeding for declaring the debtor in insolvency, we were authorized by our colleagues from the justice department in the Law Firm in order to its prompt accession and the opportunity to influence the process of collecting evidence and establishing the relevant circumstances of the case. As a result, a proceedings for declaring in insolvency of the debtor was opened.
Our services included participation in court proceedings of the case for insolvency, claiming receivables of the client and their inclusion in the lists of approved receivables by the syndic, the preparation of objections against receivables of other creditors of the debtor company and participation in the general assembly of creditors. Upon our initiative, a recovery plan was started for reorganization of a debtor company. We have supported the preparation of a recovery plan by the syndic, which to date has submitted to the court for consideration and adoption by the meeting of creditors
Taking into account the situation of our clients as unsecured creditor of the insolvent debtor, the goal of our team was to provide to the creditor a better position and the opportunity to participate in the control of the insolvency proceedings. As far as participating Bank in the process is a secured creditor Bank, we are committed to the goal to find a way to recover the debtor and to find new serious investor to finance the operations of the insolvent debtor.
Practice: Liquidation and Insolvency [1]
Connection with other practices: Banking and Finance [2]