7 Kazanskaya str., office 6, Saint Petersburg, 191186, Russia
tel.: +7 (812) 425-35-55, fax: +7 (812) 648-12-36
email: office@iusland.ru
Bankruptcy
Experts
Our lawyers have extensive knowledge in the area of bankruptcy and restructuring and, most importantly, many years of experience with bankruptcy cases, since this field is essentially regulated by judicial practice.
Thanks to their level of professionalism and knowledge of judicial practice, our lawyers can assess the full scale of legal, administrative and financial risks that may arise in bankruptcy proceedings, and ensure that these risks are minimized for our clients.
Our specialists’ broad experience of bankruptcy demonstrates that businesses should not just leave it up to the arbitration manager and the courts in such cases. Pro-active, professional work by lawyers in bankruptcy proceedings expedites the actual return of monetary funds and provides an effective way to counteract unscrupulous debtors and creditors.
Our lawyers have also carried out numerous proceedings initiated by and in the interests of the debtor. In most cases, it is not advisable to wait until the lender files a writ of execution with the bailiffs, but to evaluate the prospects of bankruptcy in advance and prepare countermeasures while the creditor’s case is being heard in court.
Expertise in bankruptcy proceedings
- Initiating bankruptcy proceedings and making entries in the register of creditors
- Determining a strategy for the bankruptcy case, taking into account the likelihood or impossibility of obtaining control over the procedure
- Selecting and implementing the best ways of handling the proceeding: external management, financial rehabilitation, or replacement of assets
- Representing the interests of creditors in the process and protecting creditors' rights, including security interests, by working out the best way of selling off assets
- Charging the debtor’s managers with subsidiary liability, foreclosure on foreign assets in cross-border bankruptcies, and international searches for assets removed from bankruptcy
- Contesting transactions carried out by the debtor with the aim of removing assets or for the preferential satisfaction of certain creditors' claims over others
- Protecting debtors from creditors’ attempts to attack their business by unjustified initiation of bankruptcy proceedings
- Administration of bankruptcy proceedings:
- participation in court proceedings
- supervising the work of the bankruptcy trustee
- organizing, holding and participating in creditors’ meetings
- Assessing the risk of subsequent invalidation of transactions in cases where a transaction is concluded with a counterparty on the verge of bankruptcy.
Projects
Drafting and agreeing the terms of an amicable settlement during the bankruptcy of a manufacturing company.
Drafting and agreeing the terms of an amicable settlement during the bankruptcy of a manufacturing company. The procedure involved the replacement of assets, distribution of shares in the new company between creditors and debtors, and repayment of debts to the tax authorities.
Developing an action plan for creditors involved in construction during the bankruptcy of a group of developers.
Determining the creditors’ strategy during the bankruptcy of a group of developers. The procedure envisages the completion of construction with the creditors’ involvement. The total amount owed is over RUB 6 billion.
Representing a group of creditors in the bankruptcy of a major automobile holding.
Acting for a group of creditors at every stage of the bankruptcy proceedings of several companies that were part of a major automobile holding. The creditors’ claims totalled over RUB 800 million.
Representing the interests of a major truck manufacturer in the case of the debtor’s bankruptcy.
Acting for a major truck manufacturer in the case of the debtor’s bankruptcy, we managed to have an unfair bankruptcy trustee dismissed, to prevent the theft of the debtor’s assets and to sell the assets in compliance with the interests of all of the creditors.