Reestablishing Debtor Solvency or Declaring It Bankrupt

Lawyers of "Werner Law Firm" possess significant experience of providing legal support in relation to insolvency proceedings as legal consultants and representatives of debtor and creditors. Our customers can also avail themselves of the services of bankruptcy commissioner.

By consulting "Werner Law Firm", domestic and international customers receive the following legal services in relation to reestablishing debtor solvency or declaring it bankrupt:

  • representation of interests and rendering legal advice in relation to pre-trial resolution of disputes arising out of existing indebtedness;
  • proper formulation of claims to the debtor on the basis of existing debtor indebtedness, initiation of bankruptcy proceedings by filing a petition in bankruptcy;
  • representation of the creditor’s interests in the course of bankruptcy proceedings;
  • provision of services of bankruptcy commissioner (asset manager, turnaround manager, receiver);
  • working out and preparation of the turnaround plan directed at rehabilitation of the financial state of the debtor;
  • implementation of measures of financial rehabilitation of the debtor according to the turnaround plan by means of restructuring the debtor’s assets, discovering the debtor’s debtor indebtedness and carrying out claims work, restructuring the debtor’s credit indebtedness, optimizing the personnel structure, discovering and properly documenting the debtor’s assets with a view to their further involvement in the economic circulation etc.;
  • analysis and legal appraisal of creditors’ claims in the course of insolvency proceedings;
  • legally advising and supporting the carrying out of appraisal of the value of the debtor’s assets, the conducting of the auditing of the debtor, alienation of the debtor’s property etc.;
  • preparation of peaceful settlements agreements in the course of bankruptcy proceedings;
  • providing legal support in connection with the debtor’s liquidation in case of declaring it bankrupt;
  • legally advising on all the other matters, which arise in the course of insolvency proceedings.

In the person of lawyers of "Werner Law Firm" domestic and international customers find reliable legal advisors on the complete range of issues related to insolvency proceedings.

Completed projects

Representation of Lender in Bankruptcy Case

Werner Law Firm represented construction company in bankruptcy case. Through initiation of bankruptcy proceeding by the company, claims of the lender, i.e. construction company with respect to unenforced court decisions on debt collection under the loan agreements were satisfied.

The associates at Werner Law Firm led the entire process from filing of monetary claim to the full satisfaction of the lender's claims. At the stage of asset disposal by lender’s representatives, an effective mechanism for debt repayment was offered, resulting in full satisfaction of the lender's claims.

Provision of services of a bankruptcy commissioner in a bankruptcy case of a company selling electrical products

A leading international producer of electrical products turned to us for legal support after bankruptcy proceedings had been initiated against one of its debtors. In order to protect the creditor’s legitimate rights and interests we succeeded in appointing Igor Darmogray as a bankruptcy commissioner of the debtor. There were enough ground for initiating criminal proceedings against the debtor and its officers.

Advising on the issues of bankruptcy of private entrepreneurs

Due to the difficult financial and economic situation many private entrepreneurs encounter difficulties while servicing their debts before banks and other financial institutions pursuant to loan and financial leasing agreements. Quite often the only way out of the situation is declaring such a private entrepreneur bankrupt by way of applying to a court and carrying out bankruptcy proceedings. We advised a substantial number of times debtors and creditors on the procedure, terms and conditions of the carrying out of bankruptcy proceedings against a private entrepreneur.

Advising of a leading construction company on the issues of legal regulation of initiation and the carrying out of bankruptcy proceeding in relation to a road construction company owned by the client

Decrease in the volumes of road construction works caused the rapid worsening of financial results of activity of the road construction company and led to financial insolvency. A majority shareholder was forced to apply the procedures of solvency re-establishment. We advised on the issues of initiation of insolvency proceedings, protection of the rights of the debtor’s owners and creditors, conduct of the debtor’s rehabilitation, and worked out the debtor’s rehabilitation plan.