Insolvency Proceedings

PRK Partners has a team of specialists prepared to guide our clients in insolvency proceedings, whether the client is debtor or creditor. One of our advantages is that one of the members of our team is a co-author of the Insolvency Act and a member of the Expert Committee of the Ministry of Justice for interpretation of the Act. Our services include the filing of insolvency petitions in the event of bankruptcy, as well as defence against such petitions if unrightfully filed against our client. Our knowledge of the former bankruptcy act as well as the new Insolvency Act are the pre-requisite for successfully handling insolvency proceedings commenced by the debtor and providing the necessary support, especially in possible disputes with creditors or the insolvency receiver.

Concurrently, our activities also focus on defending our clients – creditors, in the event that their debtor falls into insolvency. In such cases, we secure the filing of creditors' application and eliminate their risks, as well as defending creditors against the insolvency receiver, should it deny the receivables of our client, and also representation of our client in creditor meetings. Last but not least, our experience guarantees our clients protection of their rights in case the insolvency receiver includes their property into the debtor's bankruptcy assets, or otherwise brings claims in respect of our client's property. Specialists at PRK Partners also secure the protection of clients, who are affected by insolvency proceedings only indirectly (for example, if the insolvency receiver attempts to contest their contracts with the debtor). The specialists of PRK Partners provide all the above services in all phases of insolvency proceedings, bankruptcy, reorganization or debt discharge.

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