Corporate insolvency
Representation of the debtor or of a creditor at every stage of the case: property administration, rehabilitation, liquidation. Dealings with the insolvency practitioner and control over the lawfulness of their actions, protection of interests at creditors' meetings and on the creditors' committee, filing monetary claims and having them entered in the register, challenging the artificial or inflated claims of other creditors.
Support in insolvency procedures
Representation of the debtor or of a creditor at every stage: property administration, rehabilitation, liquidation. Developing the strategy for taking part in the case, dealings with the insolvency practitioner and control over the lawfulness of their actions.
Insolvency proceedings should not automatically mean the liquidation of the enterprise.
PROCTOR builds the defence so as to make the fullest use of every lawful mechanism for restoring the solvency of the company and preserving its production assets, its staff, its client base and corporate control.
We analyse the financial position of the enterprise, the lawfulness of the creditors' claims, the prospects of rehabilitation, the possibility of a composition agreement and the risks of subsidiary liability for the managers and the owners of the business.
For us, insolvency proceedings are first of all a tool for the financial recovery of an enterprise, not for ending it.
Representation on creditors' committees
Protecting the creditor at creditors' meetings and on the creditors' committee: shaping the agenda, blocking unfavourable resolutions, influencing the choice of insolvency practitioner and the terms on which property is sold.
Admission and challenge of creditors' claims
Legal support in filing monetary claims against the debtor and having them entered in the register. Challenging the artificial or inflated claims of other creditors that dilute the insolvency estate.
How an insolvency case runs
The order of steps from checking the grounds for proceedings to the distribution of property among creditors.
01
Checking the grounds
We analyse the financial statements, the contracts and the size of the debt, and establish whether there are grounds to open proceedings and who gains from opening them, the debtor or a creditor.
02
Opening of proceedings
We prepare the application to open the case or the response to someone else's application, and support the preparatory hearing and the appointment of the property administrator.
03
Work on the claims register
We file monetary claims with the underlying documents and challenge the artificial and inflated claims of other creditors that dilute the insolvency estate.
04
Meetings and the committee
We shape the agenda, vote for the client, block unfavourable resolutions and influence the choice of insolvency practitioner and the terms on which property is sold.
05
Rehabilitation or liquidation
We prepare a rehabilitation plan or a composition agreement, and if the business cannot be saved we control the valuation, the auction and the distribution of funds until the case is closed.
Ways to take part in the case
The scope depends on whether you are the debtor or a creditor and on the stage the proceedings have reached.
Filing of monetary claims
Preparation and filing of monetary claims with the supporting evidence, and support of their hearing through to the ruling entering them in the register of creditors.
Support in the insolvency case
Representation of the debtor or of a creditor at every stage: property administration, rehabilitation, liquidation, dealings with the insolvency practitioner and court hearings.
Control over the procedure
A team running the case together with the neighbouring disputes: challenges to transactions, subsidiary liability, protection of assets and talks with the key creditors.