During the recession bankruptcy has become a risk which must be taken into account in our economic activity.
Legislation is changing, but bankruptcy has not become either a mechanism to satisfy creditors’ demands or a means of financial recovery of debtors but rather an expensive funeral….expensive for creditors first of all.
Experienced professionals on the part of creditors often use bankruptcy as a means to make debtors pay the debts or stop assets removal.
On the part of the debtor – it is a legitimate means to be released from the debt.
There are a lot of examples in the practice of LF Aspect when thoroughly organized legal proceedings resulted in full repayment of the debts to our Clients, including the examples of initiating bankruptcy proceedings against a debtor as a natural person.
Our services in the sphere of bankruptcy:
– preliminary risk assessment of transactions with the companies showing signs of insolvency;
– legal support of the debtor when planning and conducting bankruptcy proceedings;
– liaison with self-regulated organizations of insolvency officers, representing insolvency officers in court;
– supporting the procedure of inclusion into the creditor requirements registry;
– representing the interests of creditors in all stages of bankruptcy procedure;
– contesting debtor’s invalid transactions;
– contesting illegal actions by insolvency officers;
– holding the director, participants and persons controlling the debtor subsidiarily responsible for the debt;
– collecting debts caused by the director or/and participants.
Specialists in this sphere
Elena Fedorova (Partner, Head of Practice Litigation)