Lawyer of ALARIUS Law Firm, arbitration manager conducted a liquidation procedure in which creditors' claims were partially repaid and bankruptcy was liquidated

Today sets tough conditions for business, and not all enterprises can withstand such a load. So what to do when a situation arose in which the debts of the enterprise could not be repaid?

As stated in the Code of Ukraine on Bankruptcy Procedures, “bankruptcy is the inability of the debtor recognized by the economic court to restore its solvency through the procedure of rehabilitation and restructuring and to repay the monetary claims of creditors established in the manner prescribed by this Code other than through the application of the liquidation procedure or procedures for the repayment of debts of the debtor”.

In October 2023, the Economic Court of Kyiv Oblast approved the liquidator's report and liquidated the bankrupt. The lawyer of AO ALARIUS, the arbitration manager conducted a high-quality liquidation procedure, in which the creditors' claims were partially repaid and the bankruptcy was liquidated.

ALARIUS Law Firm has a broad and sustainable practice of assisting clients in bankruptcy proceedings concerning:

• Representations of debtors, protection of secured and unsecured creditors' rights, creditors' committees;

• restructuring of companies (rehabilitation)/debt;

• collection of problem debts;

• support of bankruptcy proceedings, in particular protection of creditors' rights, defence of their claims in courts;

• development and implementation of a plan to withdraw an insolvent bank from the market;

• judicial restructuring outside the bankruptcy procedure.