• Bankruptcy

If your company or organisation or one of your trading contacts is faced with serious payment problems, it is of the utmost importance to call in an insolvency law specialist at the earliest possible opportunity. This may help to avoid bankruptcy. Advising directors and supervisory directors is very important too, because they are generally the ones to be targeted by creditors in situations where a company can no longer fulfil its obligations.

Ploum can provide you with legal assistance

At Ploum, our specialists will advise and assist you. We offer our services in the following situations:

Risk management

Vetting the organisation to establish its status in connection with statutory and contractual liability, security, financing risks, group agreements, insurance, and status administration and its significance;

Companies with problems

  • Conflicts with individual creditors
  • Attachments
  • Negotiations with the Tax and Customs Administration and making the necessary arrangements
  • Refinancing at the bank(s)
  • Financial difficulties and/or bankruptcy at customers’ and business contacts’ enterprises
  • Enforcing the security stipulated, such as pledges, retention of title and right of recovery
  • Legal proceedings, interlocutory proceedings

Companies in difficulties

  • Consultations with financiers
  • Reorganisation
  • Suggesting an arrangement
  • Advising and assisting clients on the best possible way to tackle undisclosed administration, moratoriums or bankruptcies

Undisclosed administration

  • Advising clients on the salient points and the consequences of undisclosed administration
  • Drawing up an action plan for assistance to ensure successful undisclosed administration

Moratorium

  • Advising clients on the salient points and the consequences of a moratorium
  • Applying for a moratorium
  • Carrying out an investigation on the company’s viability and the outlook for creditors
  • Holding consultations with creditors and suggesting an arrangement
  • Advising the board during the moratorium

Bankruptcy

  • Advising clients on the salient points and the consequences of bankruptcy
  • Advising clients on the correct way to tackle the bankruptcy so that the receiver or liquidator can wind the company up smoothly and satisfactorily, especially for the director
  • Filing a winding-up petition
  • Advising creditors vis-à-vis the receiver or liquidator

Directors’ and supervisory directors’ liability

  • Advising and assisting directors and supervisory directors at companies in difficulties, so that they can take the right decisions – for their company as well as themselves – at this stage
  • Advising and assisting directors and supervisory directors during dialogue with the receiver or liquidator
  • Acting on directors’ and supervisory directors’ behalf in liability proceedings instituted by liquidators, receivers, creditors, banks and the relevant interest groups.