According to art. 5 par. 1 point 29 of Law 85/2014 on Insolvency and Insolvency Prevention Procedures: “Insolvency is the state of the debtor’s patrimony characterized by insufficient funds available for the payment of certain debts, liquid and due, as follows:
- a) the insolvency of the debtor is presumed when the debtor, after 60 days from maturity, has not paid his debt to the creditor; the assumption is relative;
- b) insolvency is imminent when it is proven that the debtor will not be able to pay the due debts incurred at maturity with the available funds at maturity.”
Our team provides Legal Advice, Assistance and / or Representation in the following cases:
- Companies in insolvency or bankruptcy;
- Creditors of the insolvent or bankrupt company in order to recover claims in insolvency proceedings, involved in the Complaints phase of the debtor’s claims table.
- Attracting the personal liability of the bankruptcy administrator / associate for the debts of the insolvent company.
- Canceling fraudulent acts;
- The procedure for the dissolution and liquidation of commercial companies;
- The process of selling goods in forced execution.
We also offer legal services regarding:
- Assisting and representing clients at Creditors’ Meetings, as part of court / liquidator proceedings.
- Customer representation in negotiation of commitments and payment arrangements.
- Assisting in the process of restructuring and negotiating the issues related to trade flows.
- Solving appeals against the claim table.
- Assisting and representing the interests of the creditor / debtor in the relationships with the creditors, the legal administrator / liquidator and the syndic judge during the entire procedure.
- Representation in relation to potential buyers of property belonging to companies in difficult financial situations.
Our team also provides Legal Advice, Assistance and / or Representation in Cases Relating to Debt Recovery and Civil Debt:
- Our lawyers provide legal assistance for the recovery of civil claims arising from:
– unreserved loans at maturity;
– unpaid bills;
– the formation of pledges and / or mortgages;
– payment of salary rights;
– payment of works of enterprise;
– debts arising from inheritances;
– debts arising from rental / sale-purchase contracts.
- Obtain detailed information about associations, trustees, the fund of commerce, and any real guarantees on the debtor’s assets.
- Verify that there are other attempts to enforce the debtor.
- Verification of the existence of a possible opening of insolvency proceedings against the debtor.
- Drafting payment orders to debtors.
- Drafting notifications to debtors.
- Representing the client in the relationship with the debtor in order to find a friendly solution.
- Amicable settlement of civil litigation through the mediation procedure
- Tracking the payment of civil claims by debtors
- Written notification of the debtor’s employer.
- Legal assistance in enforcement for both creditors and debtors.