How to Reduce Payment and Debt-Collection Risks When Signing a Contract
Non-payment risk should be addressed before goods or services are supplied. Learn how to check a counterparty and define payment terms, evidence…
Read article- Categories:
BANKRUPTCY & RESTRUCTURING
Our team has remarkable experience in advising clients on restructurings, reorganizations, and outsourcing. We guided our clients through the process of acquiring businesses out of bankruptcy, and we also advised our clients on reorganization and necessary measures to preserve the business. We advised and represented states, foreign and domestic banks, and international corporations from a wide range of economic sectors, as creditors, in extremely complex bankruptcy procedures and bankruptcy-related litigations.
Frequently Asked Questions
When may insolvency proceedings be opened?
They may be opened when a statutory insolvency ground exists, such as lasting inability to pay or over-indebtedness, upon an authorised petition.
How does a creditor file a claim in insolvency?
The creditor files the claim with the competent court within the deadline and with the evidence required by the opening decision and applicable law.
Can a business be restructured before insolvency?
Yes. Financial and corporate restructuring may include creditor negotiations, refinancing, asset sales or a pre-packaged reorganisation plan.