In order to escape current or impending insolvency, companies, individual entrepreneurs, and individuals can use bankruptcy as a legal tool. This can be done through an orderly liquidation of the estate or by reaching a settlement with creditors.
The bankruptcy procedure serves several purposes, the primary one being the suspension of judicial executions during the proceedings. This avoids the need to shut down the business; instead, operations can continue while the prior debts remain paralyzed and do not require reporting interest.
At Capllonch Advocats, we conduct a comprehensive initial analysis of the business or individual's circumstances. We then, in each case, identify the best course of action to safeguard personal assets, attempt to ensure the business's survival, safeguard employment, and, in the event that none of these objectives can be met, liquidate the business or the individual's assets in the most suitable manner.
We closely monitor and assist our clients throughout the process to ensure that they always have the assistance of a qualified individual who will counsel and represent them before the Bankruptcy Judge and the Bankruptcy Administration.