Initiation of bankruptcy proceedings which were prepared in undue manner may adversely affect both the debtor and creditor, depending who will lodge an application. While advising our Clients, we make efforts to minimize risk related to the late notification of bankruptcy or we try to increase chance of creditors for recovery of their assets from the entity under bankruptcy.
Typical issues are:
- negotiations with creditors to prevent bankruptcy or adverse effects of delayed bankruptcy.
- taking control over the debtor endangered by bankruptcy with an aim to increase chance for creditor’s satisfaction
- negotiations with the trustees in order to acquire property under bankruptcy, in particular taking over of affiliated companies
- motions to declare debtor’s bankruptcy
- filing of bankruptcy claims