bankruptcy

bankruptcy lawyers and economists, specialists since 2013:

We have worked as insolvency administrators since 2013.

Through our experience in Labour Law we have analysed all kinds of companies and we have prepared and coordinated feasibility plans in order to justify collective and individual dismissals.

Ever since the enactment of the Bankruptcy Law, it was clear in our minds that this law would be one more tool that would have many repercussions in the workplace. We also knew that companies do reach crisis points, and it was our obligation to thoroughly understand bankruptcy law: when a company is going into dissolution, when it has to file for insolvency proceedings, what the responsibilities of the company's administrator are and what repercussions this has on the company's workforce.

It is essential that our clients know what the worst case scenario would be should the labour measures adopted not be sufficient. When the labour measures are insufficient, insolvency proceedings are an essential tool to try to ensure the continuity of the company or to liquidate it when the liabilities cannot be met.

LAWYERS AND ECONOMISTS TO COORDINATE THE bankruptcy proceeding:

Our team of lawyers and economists specialises in insolvency proceedings, even acting as insolvency administrators, and today we can offer comprehensive and effective advice to company's faced with potential insolvency.

We are especially prepared for bankruptcy mediation, as well as to offer labour alternatives if an agreement is to be reached.

bankruptcy timeline:

It is important to prepare for the bankruptcy in good time because the law requires that it be presented to the authorities within 20 days from the date when the insolvency status becomes known.

1.- The proceedings can start with the presentation of pre-bankruptcy. This measure provides the company with 3 months to negotiate a refinancing agreement with creditors. After that time, the bankruptcy application must be submitted.

2.- If you go straight to bankruptcy, you must request the bankruptcy declaration within two months from the date on which you became aware of (or should have become aware of) your insolvency status.

3.- The bankruptcy will have different phases:

• The declaration of bankruptcy: The bankruptcy administrator is named and the assets and liabilities are determined.
• The agreement: An agreement with creditors is reached and implemented to try to overcome the situation.
• The qualification: A decision is made as to the fault regarding the situation of bankruptcy.
• The liquidation: Liquidation of the assets to pay the debt that is reached.  This occurs if no agreement has been reached or if the agreement has been breached.
  
  

We are proud to be recognised as one of the best lawyers:

If you would like us to analyse your particular situation, contact us and we will advise you on the completion of a bankruptcy checklist: