Bankruptcy

A client stopped paying, does not answer calls and emails, makes empty promises to you and other suppliers? These are the sure signs of the upcoming bankruptcy.

Don't worry, there is still a chance to recover your money! It is important to keep calm and promptly engage qualified lawyers.

If you sell on post-payment terms, state in the contract that the goods sold on credit are pledged to the seller. Thus, the unpaid goods will be considered pledged to you - and you will be considered a secured creditor. This will significantly increase the chances to succeed in the bankruptcy!

Our specialists will monitor the debtor’s activities, track the progress of the bankruptcy case in court, keep an eye on messages and publications. Meanwhile, we will gather materials, analyze circumstances of the debt and prepare an application.

At the right moment we will submit the application to the court, the court will consider it with the participation of our lawyers and your claims will be recorded in a special bankruptcy register.

After that our bankruptcy specialists will participate in meetings of creditors, defend your interests in all procedures, interact with the bankruptcy manager and keep you informed on the progress.

As soon as the bankruptcy manager starts to satisfy the creditors’ claims, our lawyers will provide him/her with all necessary documents and information, as well monitor the receipt of money in your bank account.

A European manufacturer of cotton products contacted our lawyers to collect debt under a supply agreement from a Russian fabrics manufacturer that was showing signs of bankruptcy.

Our specialists assessed the financial condition of the debtor and applied to the court. As a result, the debt was included into the register as the claim secured by collateral. Thus, our client received a priority right to satisfy its claims over other creditors.

Next, our specialists represented the client’s interests at the meetings of creditors, interacted with the bankruptcy manager and monitored the bankruptcy procedures.

At the final stage, the debtor's assets were sold at an auction, and the proceeds were used to satisfy our client’s claims.