Work highlights
Liquidation and Insolvency
Procedure in insolvency procedure as syndic of the debtor
Kinkin & Partners has long experience and specializes in the liquidation and insolvency of companies. A lawyer from our team is syndic, registered in the list of the Ministry of Justice. In this regard, in 2013 we were assigned to provide legal consultations on a case of a company declared in insolvency, which requires a syndic. The main creditor of the company indicates a lawyer from our Law Firm who was elected for syndic and took the affairs of the insolvent debtor.
The team of the Law Firm is committed with the leading of the debtor’s activities and liquidation of its property. Part of the assigned tasks included participation in court proceedings in insolvency, maintaining the records of the insolvency company, maintaining lists of submitted and accepted, respectively missed receivables and others.
Practice: Liquidation and Insolvency
Lawyers on this case: Vladimir Kinkin - PartnerParticipation in insolvency procedure on behalf of creditor
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
Connection with other practices: Banking and Finance
Lawyers on this case: Vladimir Kinkin - Partner