Bankruptcy Law, Restructuring of Enterprises

Lawyers of the law firm provide extensive legal services related to bankruptcy and restructuring of enterprises: prepare applications concerning initiation of bankruptcy proceedings to courts, defend the interests of debtors,  creditors and third parties during the meetings of creditors and in the court. We advise bankruptcy administrators on various issues arising in the enterprise bankruptcy or restructuring proceedings, carry out legal audit of transactions concluded by the enterprise, prepare claims for invalidation of such transactions.

Experience

We represented clients in bank bankruptcy proceedings.

We represented a shareholder and a former manager of a legal entity in a civil case concerning compensation of damage inflicted by belated submission of a claim for initiation of bankruptcy proceedings to the court (and subsequently, in proceedings concerning bankruptcy fraud). The dispute was resolved by a settlement agreement, as the bankruptcy administrator agreed to reduce the amount of the claims against the client in more than 11 times.

We represented an enterprise in restructuring in a legal dispute initiated under a creditor’s application concerning termination of restructuring proceedings. The creditor’s claim was rejected.

We represented shareholders and a former manager of a legal entity in a civil case concerning compensation of damage inflicted by belated submission of a claim for initiation of bankruptcy proceedings to the court. The claims of the creditor who initiated the action were rejected.

We represented an enterprise in bankruptcy in litigation concerning invalidation of transactions concluded by the former managers with related persons which were contrary to the company’s creditors interests.

We represented a company in restructuring in a litigation concerning amendment of the restructuring plan. The Supreme Court of Lithuania upheld the cassation appeal prepared by the lawyers of the firm and stated that the period of the restructuring process must not necessarily coincide with the period of coverage of the debts to the creditors, therefore it upheld the ruling of the first instance court whereby the restructuring plan of the company providing for a period of arrangement of the debts exceeding five years was approved. 

We represented a client in litigation concerning approval of a creditor’s claim in restructuring proceedings. The regional court upheld out client’s request and approved the calculated default interest exceeding EUR 100,000 as the creditor’s claim in the restructuring proceedings.

We advised a company in restructuring during its restructuring process and assisted it in reaching the objectives of restructuring – to restore long-term solvency of the company and to avoid bankruptcy. The client successfully implemented the restructuring plan and completed the restructuring proceedings.