Given the current global situation, we face a large increase in bankruptcy proceedings filed before the various commercial courts. S&M provides legal advice to companies with regard to voluntary bankruptcy filings before the commercial court as well as to individuals or companies seeking to restore their credit standing. The following services are provided:
Filing of required lawsuits against debtors, notification of credit, appearance in proceedings, defence of credit interests before the competent commercial courts. Filing of bankruptcy incidents - appeals for acknowledgement/impugning of credit; credit standing; impugning of inventory and/or assets and rights of bankrupt parties; recovery of VAT on loans owed by bankrupt parties; executive management liability; etc.
Filing of voluntary bankruptcy proceedings, performance of workforce adjustments the company may require to survive (downsizing, etc.), company feasibility projects, defence of bankrupt party interests, etc.
In relation to bankruptcy proceedings involving real-estate developers and builders, we provide the following:
- Filing in bankruptcy proceedings and notification of credit Bankruptcy proceedings, defence of creditors' interests.
- Termination of sale/deposit agreements with bankrupt developers Filing of bankruptcy incidents where required.
- Filing claim for down payments made against developers in bankruptcy proceedings or insurers/banks guaranteeing the down payments. Law 57/1968.
- Filing friendly claims and/or lawsuits against insurers/banks guaranteeing down payment sums.