Debt restructuring and bankruptcy of a company
Applying for debt restructuring and the debt restructuring process
Debt restructuring is a means to save an otherwise profitable business that is burdened by excessive debt caused by earlier problems. There are two separate phases of in debt restructuring: applying and, after an approved application, the actual debt restructuring process that is typically managed by an administrator.
We have prepared numerous debt restructuring applications and managed dozens of restructuring cases as an administrator. We have also participated in so-called voluntary restructuring, in which the debts are arranged between the debtor and the creditors without resorting to the statutory debt restructuring process.
A timely response is vital if a company has financial problems. If your business is profitable but burdened by excessive debt,
contact us immediately and let us see whether voluntary or statutory restructuring could be the solution.
Bankruptcy is a means of terminating a business when it is no longer able to cope with its liabilities due to excessive debt or declining business opportunities, if debt restructuring is not deemed appropriate for one reason or another. In bankruptcy, the court appoints an administrator that determines the overall situation, lists the assets and liabilities of the bankrupt company, liquidates its assets, and distributes them between the creditors.
We are dealing with ongoing bankruptcy cases all the time. As an administrator, the most important issue to be considered is the coordination of the interests of the different parties and maximising the assets to be distributed between creditors while the legal rights of the debtor are respected.et.