Debt collection involving debtor’s liquidation

Liquidation of a legal entity, in theory, is quite a simple procedure. However, some peculiarities of this procedure and statutory consequences of liquidation decisions are oftentimes used by debtors in bad faith. Thus, in order to evade paying debt, debtors would oftentimes pass a resolution on liquidation and then resume business activities again. Liquidators would delay replies to creditors’ demands and would ‘hinder’ creditors from entering the register. 

REVERA’s lawyers will render assistance in protecting creditors’ interests in situations involving debtor’s good or bad liquidation:

  • Collecting debt from debtor being wound-up;
  • Consulting on procedures/consequences of rendering a liquidation resolution;
  • Representation of creditors in debtor’s liquidation procedures;
  • Challenging liquidator’s unfair acts;
  • Initiating a bankruptcy proceeding against a debtor being wound-up.

* Representation of interests in court is carried out by independent attorneys.

Projects

Protecting investor’s interests

Elaboration of a strategy to protect interests of a developer of a major multi-functional shopping mall in its relations with a lessee under a preliminary lease agreement, involving lessee’s winding-up and potential bankruptcy.

Protecting interests of bond holders

Consulting bond holders on procedures and collectability with respect to bond obligations, elaborating an action strategy to collect the debt in a situation involving liquidation of the issuer.

Successful initiation of a bankruptcy procedure

REVERA successfully initiated a bankruptcy case in regard to a debtor being wound-up. The case was complicated in that the debtor was repeatedly entering and exiting the liquidation procedure, which created substantial difficulties in opening a bankruptcy procedure.