When you run a company, you have to deal with the finances. Unfortunately, this sometimes involves negative consequences. Restructuring or restarting may offer new opportunities. You may also be faced with the choice of filing for bankruptcy, for your own company or a debtor. We would love to help entrepreneurs to do business successfully, but if things unexpectedly go wrong with your company, the bankruptcy lawyers of Fruytier Lawyers in Business can advise and assist you.
Filing for bankruptcy: assistance with bankruptcy
Filing for bankruptcy is the start of an unpleasant procedure. The consequences of bankruptcy are very drastic, both for business and privately. Although some experienced entrepreneurs claim you’re not a good entrepreneur until you’ve gone bankrupt once, no one is waiting for bankruptcy. You can file for bankruptcy for your own company, but you can also file for a debtor. The approach according to bankruptcy law differs for both bankruptcy petitions. A bankruptcy lawyer will be happy to assist you in the case of bankruptcy.
Bankruptcy of your own company
When you leave two or more creditors unpaid, you can file for your own bankruptcy. You can engage a bankruptcy lawyer for this. However, this is not mandatory. You can also file for bankruptcy if you foresee that you will no longer be able to meet your obligations. A lawyer specialized in bankruptcy law can work to your advantage:
- An insolvency lawyer assists you in putting together the necessary documents for bankruptcy.
- Since our lawyers are also entrepreneurs themselves, they have a lot of experience. Our lawyers investigate all options to find the best solution.
- A lawyer will check what you could be liable for and whether you have fulfilled all your accounting and other obligations.
Fruytier’s lawyers also frequently assist creditors, directors, shareholders or other stakeholders of bankrupt companies in disputes with the bankruptcy trustee. You can also choose to file for bankruptcy at the court yourself.
Bankruptcy of a debtor
Do you have a debtor who, after reminders, has still not paid the debt? When this company also has a debt to another company, then the company is apparently bankrupt. In this case, you can file for bankruptcy of your debtor. For this, you need a lawyer that specializes in bankruptcy law. Because bankruptcy has many consequences for a debtor, your petition for bankruptcy can sometimes lead to payment of the outstanding debt in order to avert bankruptcy. This way, the petition becomes a means to collect a claim; the debtor then avoids bankruptcy.
Making a restart
Does your company have healthy parts? Then making a restart may be an option. It is also possible to move unhealthy parts to another company, so that the healthy part of your company can continue to exist. It is vital to thoroughly prepare the refinancing. You must recognize the possible directors’ and officers’ liability and limit it, if at all possible. Fruytier’s lawyers regularly act for entrepreneurs who want to make a restart or who want to buy assets from the bankruptcy estate. Sound advice about the bidding procedure and the purchase agreement with the bankruptcy trustee is essential. When advising you about bankruptcy and insolvency law, Fruytier’s lawyers benefit greatly from the knowledge they have gained as bankruptcy trustees.
Although the pre-pack is relatively new and little about it is currently (legally) regulated in bankruptcy law, Fruytier Lawyers in Business has already successfully completed many pre-packs. Advantages of the pre-pack over a traditional restart in bankruptcy:
- More control over the process
- Realizing a better price for the assets
- Business activities do not or hardly come to a standstill
- Less uncertainty for staff and customers
- Less destruction of capital
- Undisclosed administrators are always experienced bankruptcy trustees
Restructuring under bankruptcy law
Can your company no longer continue in its current state? Then it’s time for a restructuring. Good preparation and a clear path to follow are of great value when restructuring. Working more efficiently and cutting costs can prevent bankruptcy. Unfortunately, you will have to take a critical look at your organization and the workforce. Our lawyers specialize in bankruptcy law and have extensive experience in corporate restructuring. We are happy to map out possible solutions and measures to successfully complete the reorganization of your company.
Help in case of impending bankruptcy
The bankruptcy lawyers Fruytier Lawyers in Business can guide you at every stage of a bankruptcy or impending bankruptcy and won’t overlook any element of it. Thanks to our extensive experience and professionalism, we offer solutions and assistance in the event of impending bankruptcy. From preventing bankruptcy through a composition with creditors or applying for a suspension of payment to taking over bankrupt companies and initiating bankruptcy proceedings. Looking for help with (impending) bankruptcy? Please contact a Fruytier Lawyers in Business bankruptcy lawyer in Amsterdam. You are not committed to anything.
- Preventing bankruptcy by taking timely action
- Insolvency and insolvency law
- Entering into a composition with creditors
- Refinancing a business in debt
- Restructuring of a company
- Step-by-step plan for reorganization: causes and consequences
- Pre-pack in case of impending bankruptcy
- Suspension of payment
- Filing for bankruptcy 2
- Bankruptcy proceedings: everything about going bankrupt
- Filing for bankruptcy
- Filing a petition for bankruptcy as a creditor
- Trustee and bankruptcy
- Ranking of creditors: who has priority?
- Right of retention in bankruptcy
- Difference between a bankruptcy trustee and an administrator
- Bankruptcy estate
- Restarting a company
- Consequences of bankruptcy for employees
- What next after having been declared bankrupt?
- Personal bankruptcy
- Directors’ and officers’ liability after bankruptcy
- Property and bankruptcy
- Discharge of bankruptcy