Insolvency management is the field of expertise where we fully apply our wide knowledge and business experience. Owning the special authorisation of an insolvency administrator we are in a favourable position to deal with complex cases of preserving debtors´ business operations, restructuring as well as solving specific types of insolvencies – e.g. in case of financial institutions. We have also repeatedly assisted with complicated cases involving potential previous unusual management´s actions involving, among other things, suspected criminal behaviour, failure to fulfil administrative obligations with adverse effects on employees resulting, among other things, in improperly processed payroll records.
We always pursue the goal of keeping an unbiased attitude towards both creditors´ and debtors´ rights. If their economic situation allows so, we prefer keeping the going-concern asset value of a debtor, preserving jobs in their companies. At the same time we always try to provide the highest quality services to an insolvency court, including utmost transparency and keeping all participants of insolvency proceedings fully informed.
In individual insolvency cases we are also able to temporarily invest reasonable amounts of money up to a few million CZK on condition there is no dubiety about their return. This is a special service provided to debtors´ creditors who are not temporarily required to expend resources to ensure efficient administration of debtors´ assets in cases dealt with by our office.
Our key clients in the field of insolvencies include insolvency courts that entrust us to deal with individual cases. We also provide commercial services for debtors as these are entitled to preserve their rights in both future and ongoing insolvency proceedings. As a matter of course we provide services to creditors including those specific cases when they submit a petition to appoint an insolvency administrator by a court decision. In such cases we prefer an informal petition prior to the court´s first decision on appointing an insolvency administrator or its appointment in so called „pre-packaged restructuring“. On the other hand, we try to avoid being appointed to insolvency proceedings according to § 29 of the Insolvency Act, except for the situations when the appointed insolvency administrator fails to fulfil his obligations or is apparently inadequate for the case in question.
Within a unique category of „legal crisis management” cases a specific place is taken by liquidation of trading companies. Based either on a court decision or a mandate received from partners to legal entities we guarantee quick and both legally and economically precise exit from the market including solutions to all potential problems connected with terminating business operations (accounting, legal and tax aspects, dispute management, asset sales, employees, archiving, etc.).
|Our most important insolvency and liquidation cases include:|
|Československá Plavba Labská||
former largest water carrier in the CR
bankruptcy under the Act on Bankruptcy and Settlement
|sale of assets at approx. 600 mil CZK in value, 50 % satisfied secured creditors, more than 30% satisfied unsecured creditors|
newly built factory for bioethanol production without final approval
bankruptcy under the Insolvency Act
|complicated case from the point of view of communication and organization, assets of extraordinary value (valued by the appraiser to 967,5 mil CZK), solving a complicated dispute with the technology supplier - the CIAB company from Sweden - by reaching a favourable settlement, close co-operation with secured creditors (ČSOB, ČS) and creditors´ board|
|Masný průmysl Česká Lípa||producer of meat and sausage products||restructuring and resultant bankruptcy under the Insolvency Act||approx. 100 employees, monthly turnover of approx. 10 mil CZK, first restructuring in the Ústí Region; after turning into bankruptcy adopting a flexible business operation scheme by renting the company out to its biggest purchaser|
|Teplická Strojírna||foundry and machinery producer||restructuring under the Insolvency Act||approx. 140 employees, monthly turnover of approx. 14 mil CZK|
|CAdis a CAdis SW||software producers||private liquidation||carrying out an exit for an American risk-investor after a successful sale of a project to the Autodesk corporation|
|GERLING SERVICE||Insurance||private liquidation||termination of all operations of an independent daughter company of an Austrian insurance group after changing its legal structure in the CR|
|Structure-flex CZ, Ltd.||member of the Structure- Flex international concern based in GB – producer of thermoplastic materials and large-scale advertising||private liquidation||negotiating redemption of business shares from Czech minority partners to mother company in GB, subsequent exit from the market including preparation and execution of all connected legal acts|