What is “insolvency”? What is bankruptcy? What is the liquidation of a company? What is a debtor settlement and stay of proceedings? What happens to someone who is unable to repay his debts? Who is the “Commissioner”? What is receivership? What has the new insolvency law changed? What is an “Order to initiate proceedings”? “? What is a “Debt claim”? How can an employee receive his wages after his employer goes bankrupt? Can a supplier, in the frame of his contractual engagement with a client, protect himself from a situation in which the client goes bankrupt?
All these questions are within the area of our specialty. These are complex issues that any client, and a business client in particular, is exposed to and may be affected by their consequences. In insolvency, there is no automatic application of the Assignment of Debt Law and regular Contact Law, and this is one of the reasons for the legal complexity.
Our firm specialized in these issues in depth over time, and deals with them intensively. These are areas that are in any case tangential to the other areas of activity of the firm.
We are proud that we have been chosen for a long time now, to be included (after tender, training and testing procedures), in the reputed list of officials who are appointed at the request of the Receiver (the “Commissioner”), as special administrators and trustees on behalf of the court and the Insolvency Commissioner, in insolvency proceedings (“bankruptcy) of individuals and in the liquidation of companies.