Corona crisis: may you, as a director, pay your creditors selectively?
It is inevitable that companies will run into payment problems…
Restructuring & Bankruptcy
As an entrepreneur, you want your business to be successful and profitable. However, it can happen that the company faces financial problems. This may lead to a situation where it can be foreseen that the business will no longer be able to meet its obligations in the short term, and even faces the threat of bankruptcy. Such a situation causes unrest with suppliers, employees, lenders and with the directors themselves.
However, it is often not too late and a reorganisation, restructuring of obligations, financing or offering a creditors’ agreement can avert bankruptcy.
Why choose us
The insolvency team at GMW lawyers can assist directors, shareholders and other parties involved with the company. From our experience as bankruptcy curators, we have the knowledge and skills to quickly and decisively set up a rescue operation and to guide you in this. Moreover, we have knowledge of different markets. We do not avoid conversations with banks, forced creditors and other stakeholders.
If a restructuring is no longer possible, we will guide you in a controlled manner towards a suspension of payment or bankruptcy. We know exactly what opportunities and pitfalls there are for the company and what directors should and should not do.
In bankruptcies we assist takeover candidates with a restart. We assist parties who have disputes with the liquidator, such as directors or supervisory directors who are held liable. We also provide assistance with collateral security.
We assist entrepreneurs, directors, supervisory directors, shareholders, financiers, trade creditors and employees, and advise and litigate on matters such as:
- Directors’ liability, liability of supervisory directors and corporate liability
- Special management
- Creditors’ agreement
- Restart
- Retention of title, right of complaint and right of retention
- Bankruptcy pauliana and settlement
- Notification of payment inability and soil (privilege)
- Disputes with a receiver
- Restructuring of debts and activities
- Reorganisation
- Risk analysis for directors, supervisory directors and / or shareholders in the event of bankruptcy
- Cancellation of (bank) loans and (re) financing
- Pre-pack / Silent administration
- Payment suspension
- Foreclosure of collateral, such as lien and mortgage rights, guarantees and bank guarantees
- Request for bankruptcy
- Resistance and appeal against a declaration of bankruptcy
- Bankruptcy fraud
- Homologation Private Contract Agreement (WHOA)
Get help with restructuring & bankruptcy
Do you have a question about restructuring and bankruptcy, or would you like advice about your current business situation? Please contact our Company & Insolvency law team.
