Insolvency law applies to companies that are in financial difficulties. For those companies, it is important to remain in control as much as possible. Such a process is often nerve-wracking and it is difficult for those directly involved to determine the right priorities.
Get timely advice on your options and risks if your company is financially in danger. The specialists of LexQuire do not only have the right legal expertise, but can also switch quickly and think strategically.
LexQuire’s specialists have experience in, among others:
If one of your debtors is in financial difficulties you can of course also turn to LexQuire for advice and support.
If your company is in a bad financial state, it is important not to wait for bankruptcy to occur, but to seek timely and sound advice about your options. Sometimes you can still create time and space by making a payment arrangement or creditors’ agreement. Negotiations with banks or the tax authorities can also give you some respite.
You may be able to use that time to ensure that your business can continue, whether or not in a slimmed-down form. For example, by reorganising or structuring your company.
The insolvency specialists of LexQuire can help you with this.
If your company is declared bankrupt by the court, the consequences are often considerable. The court appoints a receiver, who will investigate the run-up to the bankruptcy and your role in it and who will look after the interests of the creditors. In order to pay off as many creditors as possible, the receiver will, among other things, sell the inventory and stocks of your company and make a decision about your staff. You yourself are sidelined in this process.
As the interests of the trustee often clash with your own, it may be necessary to consult or negotiate with him. The specialists of LexQuire know exactly what a trustee in bankruptcy considers important. This enables us to consult or negotiate with the trustee on your behalf.
In a bankruptcy, it is one of the trustee’s tasks to investigate whether you, as director, fulfilled your legal and statutory obligations prior to the bankruptcy. Does the trustee find that there was fraud or mismanagement on your part? Then he can be personally liable for the financial shortfalls. The trustee in bankruptcy will then ask you to reimburse (part of) these deficits. It is not uncommon for the amounts involved to be large.n.
