Insolvency and restructuring
Our office in the cases listed next takes the following steps:
When we deal with reorganization, it means that we coordinate the preparation and supervision of a plan of reorganization for a company in financial difficulty.
The process begins with the analysis of the economic and legal situation of the company, the identification of debts and assets. Our team of lawyers proposes a plan for debt restructuring, cost reduction and business recovery. The plan is then presented to creditors and the court for approval.
During the implementation, our office monitors compliance with the plan and makes adjustments if necessary for the success of the reorganization.
PROFESSIONAL SERVICES FOR
INSOLVENCY AND RESTRUCTURING
for legal entities.
A step-by-step action plan proposed by our office that manages the insolvency of natural persons could look like this:
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Evaluation of the financial situation
Analysis of client’s liabilities and assets. This involves a detailed examination of all sources of income and financial obligations, including identifying hidden or contingent debts, to provide a clear picture of the current economic situation. Therefore, in order to make an analysis as accurate as possible, we will need the last balance sheet and the last accounting balance.
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Initial consultation
Explaining the legal options for avoiding insolvency or reorganizing debts. This involves a clear and detailed presentation of available alternatives, such as debt restructuring, credit refinancing, negotiations with creditors or access to installment payment plans, highlighting the advantages and disadvantages of each option according to the client’s specific situation.
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Negotiation with creditors
Attempting to reach amicable payment agreements. This includes negotiating payment terms with creditors, with a view to establishing amicable solutions, such as staggered debts or reduced penalties. The aim is thus to avoid the insolvency procedure through beneficial solutions for both parties, reducing the financial pressure on the debtor.
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Development of documentation
Preparation and submission of the insolvency file to the court. This includes drawing up the necessary documents, such as the application for opening insolvency proceedings, the inventory of debts and assets, and the rest of the documents provided by the insolvency law.
After preparation, the file will be submitted to the competent court for the initiation of the procedure, respecting the deadlines and legal requirements. Ensuring the correctness and completeness of the file is essential to facilitate an efficient process. -
Legal representation
Defending the client’s interests in court and at meetings with creditors. Representing the client in court involves presenting the legal arguments and evidence supporting their case, ensuring that all their rights are respected in the insolvency proceedings. During meetings with creditors, the lawyer will
negotiate favorable terms, will propose solutions for debt reduction or rescheduling and will protect the client’s interests in order to reach the most advantageous agreement, avoiding extreme measures such as foreclosure.
It is not enough to do everything possible, sometimes it is necessary to do the right thing.”
– Winston Churchill
Good asset management covers all aspects of financial planning.
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