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Bankruptcy Protection of creditors’ rights during the liquidation of a legal entity

Kolesnyk Ilya

Attorney

E-mail

kolesnyk@prikhodko.com.ua

Phone numbers

Specialist in bankruptcy of individuals and legal entities. Provides legal support in bankruptcy procedures for individuals, private limited liability companies, legal entities, as well as closing executive proceedings, concluding restructuring and settlement agreements with financial institutions

Protection of creditors’ rights during the liquidation of a legal entity

Liquidation of a legal entity is a complex process that can have significant consequences for its creditors. If the liquidating company owes you debts, it is important to understand your rights and take steps to protect them.

Get advice from a lawyer

Liquidation of a legal entity: the main risks for creditors

Failure to receive full debt repayment. In the process of liquidation, the demands of first-tier creditors (tax authorities, employees) are satisfied first, and second- and third-tier creditors (suppliers, other counterparties) may receive only a part of their funds, or may not receive them at all.
Delaying the liquidation process. The liquidation process can continue for a long time, during which creditors will not have access to their funds.
This can lead to financial difficulties and losses.
The difficulty of debt collection. Collecting a debt from a liquidated legal entity is possible, but it can be difficult. Creditors must submit their claims to the liquidation commission within the specified period, and then, in case of refusal, apply to the court.

Why are there great risks of not getting a loan at all without a lawyer?

Often, individuals and legal entities, faced with the fact that their partner has announced their liquidation, decide to act on their own, but it is very difficult. The help of a lawyer is necessary due to many factors, and it is the specialist who will be able to help recover the debt. Don’t jeopardize your chances of getting a loan.

Ignorance of legislation:

The process of liquidation of a legal entity is regulated by numerous laws and regulations. Without a thorough understanding of these regulations, you may miss important deadlines, fill out documents incorrectly, or not know how to protect your rights.

Complexity of procedures:

The process of liquidating a legal entity can be very confusing. You will need to submit many documents, go through numerous procedures and communicate with various authorities. Without the help of a lawyer, you can get confused in this process and miss important steps.

Confrontation with the liquidation commission:

The liquidation commission may not always act in the interests of creditors. Its main task is to satisfy the demands of first- and second-tier creditors, and third-tier creditors, which usually include suppliers and other counterparties, may not get their turn. A lawyer will help you protect your rights and achieve a fair distribution of the assets of the liquidated company.

The need to collect evidence:

In order to collect the debt, you will need to provide evidence that it actually exists. These can be contracts, acts of completed works, invoices, other documents. A lawyer will help you collect all the necessary evidence and prepare it correctly.

Risk of litigation:

If the liquidation commission refuses to meet your requirements, you will have to go to court. The legal process can be complex and lengthy. A lawyer will represent your interests in court and help you achieve a fair decision.

The price of legal support

Support of our legal company in protecting the rights of creditors in this situation

Our law firm can provide you with comprehensive support at all stages of this process. We understand all the intricacies of such matters. We know how to collect a debt, what needs to be done for this, in what terms, etc. Our experts will help you:

Assess your chances of debt collection.
Prepare and submit creditor claims.
Defend your rights in court.
Gather the necessary evidence.
Conduct negotiations with the liquidation commission.
To inform you about the progress of the case.

Why should you contact our company?

Experience and knowledge. Our lawyers have extensive experience in debt collection cases from liquidated legal entities. We know the ins and outs of this process and can help you succeed.
Individual approach. We approach each case individually, carefully studying all the circumstances and developing an optimal strategy for protecting your rights.
Professionalism and responsibility. We guarantee you a professional approach to our work and full responsibility for the result.
Fair value. It may seem that our prices are higher than the cost of legal services of some other companies, but we guarantee the quality and reliability of cooperation. Our lawyers are real experts in this matter.

By contacting our law firm, you can be sure that you will receive qualified legal assistance and be able to protect your interests as a creditor as much as possible.

If you want to sign up for a consultation or find out the cost of legal support, fill out the form below.

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1 question

Do you need legal help with creditor protection?

Yes

2 question

Are you in Kyiv?

Yes

3 question

Do you need legal assistance urgently?

Yes

Is it possible to go through the bankruptcy procedure if the debt is less than 180,000 UAH?

Bankruptcy can be filed regardless of the amount of debt — there are no minimum limits set by law. However, if the amount of debt is less than UAH 180,000, it is usually more advisable to agree on debt restructuring, as bankruptcy may be economically unprofitable.

If I am not in Kyiv, can I cooperate with you?

Yes, we work remotely throughout Ukraine and even with clients abroad! We have many clients from Lviv, Odessa, Dnipro, Kharkiv, Cherkasy and other settlements.

Communication is carried out in any way convenient for you.

Successful cases on the topic: