Bankruptcy

INFORMATION FOR DEBTOR

Bankruptcy is always a conflict of interests, where the Creditors are on the one side, and the Debtor and its former management are on the other side. The objectives of the parties in the course of bankruptcy proceedings are diametrically opposed: the Creditor wishes to meet its requirements and to bring the former management of the Debtor to responsibility in criminal procedure, and the former management of the Debtor to protect assets and not to bear personal responsibility.

In the context of procreditor approach clearly defined in the jurisprudence, it becomes more difficult to protect assets and not to bear personal responsibility for the management of the former Debtor. In this regard, professionalism of the team that provides your protection comes to the forefront. To date, we have the practical experience to protect the Debtor and its management both in the direct management of our court-appointed receiver by the Debtor, and in the case when the Debtor is controlled by the court-appointed receiver appointed by “unfriendly creditor”.

Cost of services is determined individually, based on a number of factors, namely the quantity and quality of “unfriendly creditors”, transactions made on the eve of bankruptcy, indebtedness to the tax authorities and a number of other factors.

INFORMATION FOR CREDITOR

If you are a Creditor and a Debtor does not pay you, in most cases, the institution of enforcement proceedings is not an effective method of debt collection as the volume of satisfied requirements is not large and does not exceed 1-2% of the institution of enforcement proceedings, as confirmed by the statistics of the Court Bailiff Service.

An effective method is timely initiation of Debtor bankruptcy proceedings. With proper operation of the relevant professional teams, it is possible to satisfy the claims of creditors for 90% of the total amount of the Creditors claims, to the relevant Debtor. The evidence in favor of our work is shown in the case No. A06-8025/2014. In addition, the fate of the Debtor’s management also formed not the best way, which is confirmed by the data of Kirov District Court of Astrakhan, the criminal case No. 1-305/2016. Results of our work in this area can be found in the section – Our Practice.

The main principle sounds like – it is necessary to initiate bankruptcy of the Debtor timely. The loss of time affects the ability of maximum satisfaction of own creditors’ claims.

We will provide you a comprehensive legal and practical support in case of the Debtor bankruptcy, and we are confident that it will be effective.