nicolau@avocatulmeu.ro
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Insolvency

Elaboration of the Restructuring Plan

Insolvency Consulting

Voluntary Liquidation

Pre-insolvency stage

What Is Insolvency?

Insolvency is that condition of the patrimony of a company characterized by insufficient funds available for the payment of outstanding debts.Thus, when the debtor no longer has “cash” to pay the matured debt, he is in a state of insolvency.This state does not mean that there are no assets or assets in the patrimony of the company that can be capitalized for the settlement of the debt.

Often, the state of insolvency is confused with bankruptcy. In order to better understand the difference between the two bankruptcy notions – insolvency which, for most of the unprofessional law, seems to be synonymous with the following:

A debtor in a state of insolvency has the possibility, if he meets certain conditions expressly provided by law, to enter into a reorganization phase of the activity on the basis of a plan approved by the creditors and confirmed by the syndic judge.If the reorganized activity is profitable and allows for the payment of all debts under the terms and conditions set out in the plan, then the debtor goes out of insolvency, maintains its legal personality, and continues to carry on its activity without the intervention of the judicial administrator or the syndic judge.

If the reorganized activity does not follow the plan then the debtor enters the reorganization phase and goes bankrupt.At this time, the debtor’s activity is under the control of the liquidator, who will proceed with the valuation of the goods and their capitalization, and will pay the receivables from the sums thus collected.

Once the procedure for capitalizing the goods has been completed, the debtor will be erased from the register in which it is registered, so it will cease to exist.

How do we help you

Elaboration of restructuring plan

Under this procedure, our professional company develops a restructuring plan accepted by the debtor and the relevant creditors, a plan that will allow the debtor to continue to work and to cover all or part of their obligations.

Following voluntary out-of-court negotiations, the restructuring plan may include:
– how to capitalize some assets;
– changing payment deadlines;
– debt repayments;
– injection of additional capital;
– the provision of guarantees;
– converting claims into shares;
– implementation of the debtor management strategy.
Restructuring obligations is a concession, not a right.

Insolvency consulting

Determining the state of insolvency.Imminent insolvency;
– continuing the exploitation after the opening of the procedure;
– detection of the causes of insolvency;
– analysis of the way in which the current debtor is insolvent;
– the viability of the reorganization plan;
– monitoring the implementation of the reorganization plan;
– the necessary analysis of the decision to request the annulment of the fraudulent acts concluded by the debtor at the expense of creditors’ rights;
– analysis of contracts in progress;
– the analysis of the possibility of guaranteed goods to be executed by the guarantors;
– ways of capitalizing the goods from the debtor’s assets;
– the conclusion of transactions;
– determination of damages

Voluntary liquidation

Liquidators fulfill their mandate under the control of auditors;
Liquidators are required to carry out the environmental statement;
Apart from the powers conferred by the associates, the liquidators will be able to:
– execute and complete trade operations related to liquidation;
– to sell, by public auction, the buildings and any movable assets of the company;
– to make transactions;
– to liquidate and collect the receivables of the company;
– to negotiate bills, to make non-mortgage loans and to meet any other necessary documents.

Preinsolvency

Ad-hoc mandate procedure:

The trustee may propose deletions, reschedulings or partial debt reductions, the continuation or termination of ongoing contracts, staff cuts and any other measures deemed necessary.

Preventive matching procedure:

At the request of the conciliator, the syndic judge may impose, by decision of co-authorization, the postponement of the maturity of claims of non-signatory creditors by 18 months. During this period no interest, penalties and other expenses related to the respective receivables will flow.

Contact us.

We are at your disposal for any insolvency issue

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