Insolvency

Our Insolvency Department has extensive experience in providing legal advice to all parties affected by an economic crisis within a corporation.

We work in the main sectors of the economy, and the professionals forming the team are deeply aware of the business issues affecting every matter.  In this sense, both the Finance Department and the Tax and Procedural Law Department provide added value to the division by supplying it with all the skills necessary to deal with a corporate crisis.

This team works in group restructuring, debt refinancing, representation and defence of creditors, advising on the liability of directors by actively participating in the classification phase and providing counsel on acquisitions of business units within insolvency proceedings.

The most relevant aspects of our expertise in the area of insolvency law include:

 

Advice to a company in crisis

  • Participation in notifications to begin negotiations with creditors.
  • Preparation of the application for voluntary declaration of insolvency.
  • Participation in negotiation of the preliminary insolvency restructuring arrangement or the ordinary settlement of creditors.
  • Preparation of the preliminary liquidation plan or the ordinary liquidation plan.
  • Defence and representation of insolvency actions for the rescission of transactions instigated by the insolvency administrators or, secondarily, by a creditor.
  • Legal orientation of the insolvent party in the qualification phase of the insolvency, if the insolvent party declares itself guilty.
  • Participation in all insolvency events instigated within the insolvency proceedings (on termination of agreements, credit claims, challenges to the insolvency administrators’ report, etc.)

Advice to creditors affected by the insolvency of a third party company

  • Preparation of documentation to apply for a forced insolvency.
  • Legal orchestration of rescission actions.
  • Participation in the qualification phase.
  • Negotiations with the rest of the creditors and the debtor for the signing of a creditors' arrangement.

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