CLEMENS’ insolvency and reconstruction department possesses comprehensive skills and experience with handling the specific legal fields, which affect companies in financial crisis.
Companies in financial crisis may benefit from these skills and this expertise in connection with competent legal guidance in negotiations with creditors, including the company’s financial partners.
A reconstruction process may involve application of several different credit schemes, including financial accord schemes or moratorium agreements.
Reconstruction may also entail that the company announces a formal suspension of payments, during which one of CLEMENS’ attorneys is appointed by the bankruptcy court to supervise the case as reconstruction trustee.
CLEMENS’ considerable experience with administration of bankruptcy estates ensures that we are in a position to advise clients on how to achieve the best possible legal position vis-à-vis an insolvent counterpart, or in situations where a bankrupt party to an agreement lodges a claim for reversal or recovery.
Debt relief may also be an escape route for individuals with unmanageable debt. CLEMENS is able to provide professional legal advice in such situations
CLEMENS advises on the following topics:
- Voluntary credit schemes
- Suspension of payments
- Reversal issues
- Mortgages and charges, including floating charge and receivables charge
- Individual representation of creditors