Restructuring and insolvency
A separate practice for insolvency crises, deliberately kept apart from banking to avoid the conflict of "creditor against debtor" built into it. We work on the side of debtors, of creditors and of investors buying assets out of insolvency.
Why businesses choose this PROCTOR practice
A financial crisis does not always mean the end of a business. In most cases it follows from management, market or regulatory factors that can be removed if the legal strategy is built correctly.
That is why the PROCTOR team treats restructuring and insolvency not as a liquidation procedure, but as a tool for restoring the value of a business.
We work at the same time with the corporate structure, creditors, investors, banks, state authorities and the courts, giving the client comprehensive protection of their interests.
Our approach is aimed at what matters most - preserving assets, management control, business reputation and the ability to keep developing the company even in the most difficult financial situations.
Out-of-court rehabilitation and financial restructuring
Restoring solvency without opening insolvency proceedings: a rehabilitation plan agreed before proceedings begin, arrangements with creditors, bringing in an investor. This makes it possible to preserve the business and the control of its owners.
Purchase of assets in insolvency proceedings
Support in acquiring property at insolvency auctions: checking the asset and its legal risks, taking part in the auction, registration of title, defence against challenges to the results of the auction.
Lines of work
The services this practice runs.
- Corporate insolvencyRepresentation 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.
- Personal insolvencyProcedures for restoring the solvency of individuals and private entrepreneurs: restructuring of debts and repayment of arrears. Protection against pressure from creditors and lawful release from unmanageable obligations.
- Subsidiary liability and fraudulent transactionsDefending directors and beneficial owners against being held subsidiarily liable for the debts of the company or, conversely, pursuing the bad-faith managers of a debtor in the interests of creditors. Having transactions concluded by the debtor to the detriment of creditors declared invalid: stripping of assets, sales at an undervalue, transfers for no consideration, and the return of property to the liquidation estate.
How we run an insolvency case
The path from the first look at the financial position to the close of the procedure and the assets kept.
01
Review of the financial position
We take apart the structure of the assets, the debts and the corporate links of the company and check creditors' claims against the underlying documents. The result is a map of risks and deadlines.
02
Choice of scenario
We compare out-of-court rehabilitation, court proceedings and a sale of the asset, and count the consequences of each for the owner. The client receives a written strategy with the first decisions to be taken.
03
Talks with creditors
We prepare the position for banks, suppliers and an investor and agree schedules, conversion of debt or a standstill. Arrangements are put into agreements, not into correspondence.
04
Conduct of the court case
We file or challenge monetary claims, represent the client at creditors' meetings and on the committee, and control the actions of the insolvency practitioner at every stage of the case.
05
Protection of assets and officers
We challenge fraudulent transactions and return stripped property to the liquidation estate, or build the defence of a director and beneficial owner against subsidiary liability.
06
Close of the procedure
We support a composition agreement, a rehabilitation plan or liquidation through to the final court ruling and record the result: debts settled, business kept or title to an asset registered.
Formats of work in insolvency cases
The format depends on whose side you are on in the case and on how far the procedure has already gone.
Audit of the debt position
A one-off review of the financial position, the creditors' claims and the deadlines. You receive a written opinion on the available scenarios and the risks for the owner and the manager.
Support in one procedure
Conduct of the case from the filing of claims to the final ruling: documents, hearings, dealings with the insolvency practitioner and the creditors' committee within a single procedure.
Team on the whole matter
A standing group of lawyers on the side of the debtor, a creditor or an investor: we run the insolvency, the disputes over assets, subsidiary liability and the talks with banks in parallel.
The industries we do it in
The sectors of business this practice works in from the first day.
