Not all businesses go well and live forever. Sometimes a company needs to be wound up or rehabilitated. If the assets of a company are insufficient for satisfying the claims of creditors, the result is the insolvency of the company declared by a court, i.e. bankruptcy.
To protect the interests of creditors it is often necessary to react quickly and with determination, to identify the financial situation and the amount of liabilities of the debtor. Timely and accurate steps often prevent creditors’ assets from becoming a part of the bankruptcy estate.
Protection of the interests of creditors in bankruptcy proceedings includes disputes upon defending claims, approving distribution proposals and final reports, exercising supervision over the activities of the trustee in bankruptcy and participating in the work of the bankruptcy committee.
We have repeatedly advised trustees in bankruptcy in major sales transactions of bankruptcy estate.
We have represented the interests of creditors and debtors in complicated and large-scale bankruptcy proceedings. Our attorneys and lawyers have acted as trustees in bankruptcy. We also have close ties of cooperation with members of the Chamber of Estonian Bankruptcy Trustees, which allows us to protect the interests of creditors more effectively in bankruptcy proceedings.