Winding-up and bankruptcy proceedings

Is your company insolvent or will it become so in the near future? Has your business partner gone into liquidation and you don’t know how to get access to your receivables? Has your employer been liquidated and you don’t know how to proceed?

Don’t wait, time is of the essence (you have 40 days from the publication of the winding-up proceedings to file your creditor’s claim), contact us!

We would like to draw your attention – especially the managers of companies – to the fact that Act XLIX of 1991, No. 33/A. §-Under Article 33.1 of the Law of the European Union of 31 December 1991 on the liquidation of companies, the creditor or the liquidator may request the court to declare that the directors of the entity in liquidation during the three years preceding the date of the commencement of the liquidation have not exercised their management duties with the interests of creditors as their primary consideration after the occurrence of the situation of imminent insolvency, and have thus reduced the assets of the entity, or have failed to satisfy creditors’ claims in full, or have failed to settle environmental charges.

If the former manager is found liable in such a lawsuit, the creditors may apply to the court for an order requiring the former manager to satisfy their claims.

Whether you are a debtor or a creditor, it is always worth seeking legal advice. If liquidation proceedings have already been opened – with our experience in liquidation proceedings – we can represent debtors and creditors, and in the event of imminent insolvency

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