Insolvency

Insolvency is an “umbrella” procedure including also the procedure of reorganization and/or bankruptcy. Therefore, the relation between the two sub-procedures (bankruptcy and reorganization), on one hand, and the insolvency procedure, on the other, is that from the party to the whole. The free market and competition, unconfined, demonstrate that, in many cases, the material capital doesn’t matter, but the human one, based on intelligence, intellectual and technical-scientific accumulations, which may radically change the balance.

The offset between capitalism and communism was generated exactly by the means of organization of the company, in free markets – based on private property over assets – or the lack of a market, of free or total lack of competition, of real progress or conservatism and the state purpose in economy.

In the new social-economic context after 1989, but especially following the world economic crisis started in 2007-2008, many companies, with state or private capital, didn’t manage to survive the economy of a free and competing market.

We provide full assistance and consultancy services for insolvency, bankruptcy and liquidation procedures and solve issues in fields such as: receivables recovery in the context of insolvency procedures, foreclosure, special procedures and common law actions, crisis management, assistance, legal representation and consultancy, being one of the first providers of professional services in this field.

We provide the best management solutions for the insolvency status, legal assistance in the company’s dissolution and liquidation procedures, assistance in the process of asset transfer in the accounts payable for companies under insolvency, assistance in the process of asset selling within foreclosures.

Representation services:
  • Clients’ representation within negotiations referring to payment engagements and arrangements.
  • Clients’ assisting and representation in creditors meetings, within procedures performed by the legal administrator / official receiver.
  • Assistance in the process of restructuring and negotiating different aspects regarding commercial flows.
  • Solving claims in the receivables table.
  • Assisting and representing the debtor’s interests in relation to creditors, legal administrator / official receiver and the syndic judge during the entire procedure.
  • Representation in relation to possible buyers of property assets from the companies being under hard financial situations.