Insolvency

Insolvency has been a preferred area of ​​practice since the beginning of the PSBH, given on the one hand the challenges that this field raises, as well as the fact that it is a possibility to help bona fide companies in financial difficulty.

In this field, the experience of PSBH is vast, representing clients who are both debtors and creditors who hold in the insolvency procedure claims of different degrees, but also acquirers of some rights within the procedure.

Moreover, in order to avoid insolvency proceedings, PSBH represents the interests of the clients in the preventive composition proceedings, the negotiation before the creditors and the recovery of the companies.

Therefore, PSBH provides legal advice, assistance and representation in relation to:

  • Opening and representation during the preventive composition procedure;
  • Negotiation from the perspective of creditors or the debtors, within the preventive composition procedures, in order to avoid the insolvency or bankruptcy procedure;
  • Registration in the credit table of the clients’ claims against the debtors against whom the insolvency or bankruptcy procedure was opened;
  • Opening insolvency or bankruptcy proceedings;
  • Representation during the insolvency or bankruptcy procedure, in order to realize the client’s rights;
  • Representation in disputes having as object appeals to the preliminary, final or supplementary table;
  • Representation in litigations having as object the annulment of the decisions of the creditors’ meeting or of the decisions of the administrator or judicial liquidator;
  • Representation in litigation having as object the annulment of the fraudulent acts of the company prior to the opening of the insolvency or bankruptcy procedure;
  • Representation in disputes aimed at attracting the liability of persons considered responsible for the state of insolvency of the company;
  • Assistance on the occasion of the liquidation of the company’s assets, both from the perspective of the debtors or creditors, and from the perspective of the acquirers of these assets.

Reference cases

  • The PSBH was a successful construction company, in the framework of the court reorganization procedure, assisting the client from the moment of the insolvency proceedings until the reorganization plan was drawn up, negotiations with creditors and representation in all disputes.
  • The PSBH was a successful company active in the clothing industry, in the insolvency proceedings both at the time of the initiation and during the course of the proceedings.
  • The PSBH was a successful creditor building company in a debtor’s insolvency proceedings, in the context of the preliminary table appeals and requests to lift the special manager’s right of administration and to attract legal representatives.  As a result of the actions taken, the client’s claim was recognized, the right to administer was lifted, the bankruptcy proceedings were opened against the debtor and the court ordered the legal representatives to be held liable.

Maria Udeanu
Senior Associate

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