The main goal of insolvency proceedings for natural and legal person is to assist in the fulfilment of obligations of a debtor that has difficulty fulfilling them, and to satisfy the claims of the creditors as much as possible.
To legal persons that are in financial distress or that believe their financial distress is imminent, our specialists can provide advice and legal assistance as part of legal protection proceedings. Using the methods permitted in the Insolvency Law, we will help find solutions to restructure credit obligations, to restore the client’s solvency, and avoid bankruptcy.
Services we provide in relation to insolvency and judicial protection proceedings
Insolvency of a Natural Person
Our firm’s specialists carefully review the documents demonstrating insolvency submitted by the client, and then not only prepare the initial court application for initiating and announcing the insolvency proceedings, but also take care of initiating the bankruptcy proceedings, preparing all the necessary documents, including a plan for settling the credit liability as part of insolvency proceedings for natural person.
Insolvency of a Legal Person
As part of insolvency proceedings for a legal person, our firm’s advocates not only provide legal assistance pertaining to the initiation of the insolvency proceedings and the preparation of its announcement with the corresponding court, but also represent the interests its clients (creditors, debtors, shareholders and other stakeholders) during creditor meetings, thus providing the clients with legal assistance throughout the insolvency proceedings, helping achieve positive progress in these proceedings.
Legal Protection and Extrajudicial Legal Protection Proceedings
The specialists at Atlācis un Partneri provide consultations on successfully conducting judicial and extrajudicial protection proceedings.
Every dead-end situation has at least two exits
Our experience convincingly shows that every dead-end situation has at least two ways out of it, and we work to ensure that our legal assistance leads to a compromise between the rights of the creditor and the interest of the debtor as our firm’s client.