Support of the bankruptcy procedure of a legal entity

The company’s bankruptcy procedure is a long and complex process that requires thorough knowledge of legislation in this area and practical experience. It consists of many stages – from submitting an application to the court to the final closing of the bankruptcy case.

At each stage, certain legal procedures and actions must be performed in accordance with the law. Without the support of an experienced bankruptcy lawyer, the company can face many difficulties and risks, such as time violations, incorrect execution of documents, inappropriate actions of the arbitration administrator, etc.

Therefore, legal support at every step of the bankruptcy procedure allows you to significantly simplify and speed up its passage, avoid mistakes, as well as maximally protect the rights and interests of the bankrupt company itself, as well as its creditors and other interested parties.

Stages of the company’s bankruptcy procedure

The company’s bankruptcy procedure goes through several main stages:

• Management of the debtor’s property.

At this stage, documents on the company’s financial condition are collected and studied, a register of creditors is drawn up, an inventory of property is made, and measures are taken to preserve the firm’s assets.

• Rehabilitation (financial recovery) of the debtor.

A plan to restore the company’s solvency is being developed. This plan must be approved by creditors at a meeting. Then they monitor the implementation of the rehabilitation plan.

• Liquidation of the debtor’s property.

A liquidation commission is created, which evaluates the company’s assets. After that, the property is sold, and the proceeds are distributed among the creditors in order of priority.

Bankruptcy proceedings have a clear sequence of actions aimed at either rehabilitating the company or, if that is not possible, meeting the demands of creditors by selling its assets.

Advantages of legal support of the bankruptcy procedure

Legal support of the bankruptcy procedure provides the company with a number of important advantages:

• Reduction of risks and errors thanks to the lawyer’s experience in preparing documents, conducting cases in court, etc.
• Protection of the company’s interests, as the lawyer will fight for the best result at every stage of the procedure.
• Saving the company’s time and resources, because the lawyer will take care of all legal issues.
• Increasing the chances of a positive conclusion of the bankruptcy case thanks to the professional skills of the lawyer.

Stages of legal support of the bankruptcy procedure

Legal support goes through several stages:

• Analysis of the company’s financial condition and assets to choose a strategy.
• Preparation of necessary documents for submission to court.
• Representation of the company’s interests in court proceedings.
• Monitoring compliance with the bankruptcy procedure.
• Assistance in completing the procedure and removing restrictions from the company.

This comprehensive approach allows you to go through the complex bankruptcy procedure as efficiently as possible.

Legal support is the key to successfully completing the bankruptcy procedure

Legal support of the bankruptcy process is the key to its successful completion. After all, an experienced lawyer can help the company at every stage: prepare the necessary documents, represent interests in court, monitor the legality of procedures.

Thanks to this, the risks of making mistakes or violating the requirements of the law are significantly reduced. Legal support allows you to maximally protect the rights and interests of the debtor or creditor company and achieve the most favorable result.

If you are looking for professional legal assistance in bankruptcy, contact the law firm “Prykhodko and Partners”. Experienced bankruptcy lawyers are waiting for you here, who will help you understand any complex situation related to bankruptcy and achieve the best result for your company.