Insolvency and business distress
A situation of business distress requires specific strategies in any single phase of the crisis, made on the basis of an accurate evaluation of the risks and benefits of the single possible solutions.
On the basis of our year-long experience, we provide assistance to all subjects affected by the company’s crisis: the company itself that has to decide whether and which restructuring procedure to adopt, the organs of the insolvency procedures and finally also those companies that have commercial relationships with the distressed companies and that are worried about their own production when the supplier is in crisis or have open claims when a client is in crisis.
In any single stage we explain to the client the applicable rules and the consequences and obligations deriving thereof: when does the obligation to liquidate the company come into existence? In which situations a voluntary composition with creditors appears to be preferable to extrajudicial agreements? Can the entrepreneur safeguard his personal wealth vis-à-vis the threat of a insolvency of his company?
The focus areas of our range of consulting services are:
- Assistance in favour of companies in the evaluation of the possibilities to overcome the crisis, joint identification of the most appropriate legal solutions for the company’s restructuring or liquidation.
- Assistance in favour of the directors, shareholders or surveillance organs as well as of the individual entrepreneur in understanding the risk of their personal liability in connection with the crisis and adopting the right measures to minimise such risks.
- Assistance in connection with liquidation of the company, drafting and negotiating certified plans, restructuring agreements and applications for admittance to insolvency procedures.
- Assistance in appeals procedures against the opening of an insolvency procedure.
- Assistance in favour of companies not subject to insolvency procedures and professional persons in connection with situations of excessive indebtedness.
- Assistance in favour of the organs of insolvency procedures, in particular in connection with claw back actions, actions for liability and debt recovery on behalf of the bankruptcy receiver.
- Petitions to have the credits admitted or property claims ascertained, as well as applications to oppose negative decisions.
- Advice and assistance to clients of distressed companies/suppliers with a view to safeguarding their production and minimise their financial exposure. Agreements to rent or acquire companies or business lines from distressed companies.