Dominanta

Bankruptcy

Business leaders eventually face the problem of bankruptcy, because one can get into this procedure both from the side of a debtor and from the side of a creditor who has not received fulfillment of his obligation.

The bankruptcy process is a rather complicated and lengthy procedure, which, if carried out, requires certain knowledge and experience to choose the right approach to this undertaking.

Bankruptcy proceedings may include the following stages

  • initiation of a bankruptcy case;
  • property disposition procedure (introduced for a period of 6 months);
  • debtor reorganization procedure (introduced for a period of 6 months and may be extended);
  • recognition of a debtor as bankrupt and introduction of the liquidation procedure of the debtor (introduced for a period of 12 months and may be extended);
  • approval of a liquidation balance sheet and dissolution of juridical person.

As you can see, bankruptcy proceedings can drag on for years! But with the right approach, we can help you carry out bankruptcy in a period of 6 months. After ordering legal support for bankruptcy proceedings to be carried out by our Law Firm, you will receive:

  • legal advice regarding all aspects of bankruptcy proceedings;
  • pre-trial preparation of bankruptcy proceedings;
  • execution of financial analysis of the company;
  • preparation of an application for declaring a debtor bankrupt on behalf of a creditor;
  • preparation of an application for declaring a juridical person bankrupt on behalf of company management;
  • advisory services in choosing an arbitration manager;
  • support of bankruptcy proceedings;
  • protection of the creditor’s interests in a bankruptcy case if you are a creditor;
  • conduct of controlled auction;
  • appeal against the results of auction, in the case of such a need;
  • termination of a company in the unified state register.

Depending on how the bankruptcy procedure will be carried out, it can be either a life buoy for business entities and a chance to start a business from scratch, or turn out to be possible subsidiary liability for company managers and owners, or even open criminal proceedings for causing to become bankrupt (Article 219 of the Criminal Code of Ukraine). That is why, you need to resort to the bankruptcy procedure of your company only after careful preparation and taking into account all the pros and cons.

On the other hand, if you are a creditor, and the Enforcement Service cannot recover the debt from a legal entity, you can try to initiate bankruptcy yourself and obtain satisfaction of your claims from the property of the debtor or, if there are reasons, from the executives (founders) of such debtor.

The experts of our company have sufficient practical experience to support bankruptcy proceedings, both on the part of a debtor and on the part of a creditor. And remember, the sooner you seek legal assistance, the more chances you will have to protect your property or to satisfy your requirements.

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