Bankruptcy of Legal Entities

Bankruptcy of legal entities has become a reality in our legal system in the recent years. This service has become especially relevant at the time of economic crisis in our country. Since this mechanism existed we accumulated valuable knowledge and great practical experience that we can use to represent interests of creditors hoping to get their money back, as well as debtors who can no longer carry their financial burden.


By resorting to our services you can rest assured that you will receive qualified legal support throughout the process of declaring insolvency (bankruptcy) of a legal entity. Not only the future of organization, but also your personal future may depend on the outcome of this process. It is important to remember that in your controlling capacity of the entity (shareholder, founder, general director), under certain circumstances your personal property may be subject to disposal in order to satisfy the claims of creditors.

Bankruptcy of legal entities bears certain negative impact on participating individuals and may result in conflicts.

Lawyers will help you avoid bankruptcy related risks and minimize your financial losses; optimize time loss.

We are here to support you throughout the bankruptcy process, act on your behalf as your attorney in court, compile the necessary documents, participate in negotiations to settle debts, and exercise control over enforcement of legal judgments pronounced in a bankruptcy case.

For Creditors:

A creditor may have different goals in a bankruptcy case:

Collect the debt by including claims in creditor registry, and obtain funds by selling debtor’s assets;

Acquire debtor’s assets at a discounted price by participating (including via proxy) in auction sale of debtor’s assets;

Collect the debt by invoking subsidiary liability of debtor’s management;

In case if creditor’s subsidiary is declaring bankruptcy, it may be the creditor’s goal to also minimize risks of potential financial losses due to possibility of subsidiary liability.

We will help you:

Develop creditor’s legal position in bankruptcy case;

Represent the creditor in a bankruptcy case in court;

Establish creditor’s claims in the creditor registry of the debtor;

File complaints in court if analysis revealed that debtor engaged in withdrawal of assets, embezzlement;

Invoke subsidiary liability of debtor’s management in order to collect the debt at their expense;

If it was revealed that a managing body was causing losses to debtor, collect this loss through court proceedings;

Draft and submit to court claims to appeal unlawful actions of arbitration administrator;

Negotiate with other creditors if there is a possibility of them selling their claims against debtor, or engage in coordinated actions to achieve mutually acceptable results;

Represent creditor’s interests at creditors meetings;

Elaborate and coordinate amicable agreements in bankruptcy case;

Participate in bankruptcy case in the capacity of representative of creditors committee;

Develop defense strategy for creditor’s rights and criminal law proceedings.

For Debtors:

Resorting to the assistance of our specialists in a timely manner will help to significantly minimize, and in some cases avoid the negative impact for debtor with regards to court trials in a bankruptcy case.

Being expertly prepared for bankruptcy allows to protect debtor from unfounded claims by creditors, public authorities, to avoid mistakes which can result in subsidiary, administrative or even criminal liability for debtor.

We will help you:

Develop course of action to minimize bankruptcy related risks;

Various experts in law, economics, financial analysis, accounting, will evaluate debtor’s financial, accounting, and other documentation, to promptly identify the probability of transactions being appealed by creditors in bankruptcy case;

Draft and submit to court claims to collect the debts of debtor’s counteragents;

Provide independent evaluation of debtor’s assets;

Represent the debtor throughout the course of bankruptcy proceedings;

Develop a defense strategy against unfounded claims by creditors;

Appeal creditors’ claims with regards to debtor’s bankruptcy and inclusion of claims in the creditor registry;

Develop a feasible and acceptable debt repayment plan;


Analyze the possibility of leading debtor out of bankruptcy procedure while preserving the business and its assets;

Represent debtor in creditors’ claims against transactions;

Provide written and verbal consultations to debtor on any possible bankruptcy-related issues;

Participate in negotiations between debtor and creditors to settle the debts;

Represent the debtor at debtor’s creditor meeting;

Draft and coordinate amicable agreements in bankruptcy case.

Besides offering legal support we also help you benefit from professional services of auditors, evaluators, financial specialists, arbitration administrators, and others that are critical in a bankruptcy cases.