Blenheim has experienced lawyers in the fields of insolvency, bankruptcy and relaunches. Our lawyers advise on applications for, or defences against, declarations of bankruptcy, composition with creditors, suspension of payments, directors’ and officers’ liability, relaunches and proceedings against the trustee in bankruptcy.
Bankruptcy petition with insolvency lawyers
Blenheim’s specialists are happy to provide legal assistance to entrepreneurs in the difficult circumstances that surround insolvency, when bankruptcy is imminent. Preparing a bankruptcy petition needs to be done in an organised manner. Our lawyers will assist you with your bankruptcy petition and the necessary communication with the court and receiver.
Relaunch after bankruptcy
If a company’s debt level causes it to collapse, and it is no longer possible to turn things around by means of a reorganisation or restructuring, there is a possibility of a relaunch after bankruptcy. In these circumstances, the company has already been declared bankrupt on account of its own declaration, or at the request of several creditors, and the court has appointed a receiver. The receiver is a lawyer and is appointed by the relevant court to take responsibility for the winding-up of the company and to ensure the largest possible estate for the joint creditors.
Suspension of payment
If a company has payment problems, a potential solution is the suspension of payment, which can prevent bankruptcy. During a moratorium period, creditors cannot enforce payment of debts. If the request for a moratorium is granted by the court, an administrator will be appointed who will examine whether the company is sufficiently viable. If this is not the case, bankruptcy will often follow.