EXPERTISE | Insolvency law
Insolvency law: Companies in difficulty or potentially bankrupt
Solvency issues may give rise to an abrupt, premature end of corporate activities and complex insolvency procedures. A carefully built up and sustainable business organisation can this way be lost, meaning various interested parties end up at odds with each other.
It is therefore in the interests of the owner, shareholders but also the claimants that a precarious financial situation is established as swiftly as possible, and that all possible measures come under discussion.
Even when everything seems lost, what is required is care and intensive guidance concerning insolvency law, so as to retain as much value as possible and to limit the damage to all interested parties: claimants, shareholders and clients, etc.
Broad practical experience with insolvency and bankruptcies
For any commercial enterprise, for any individual and more generally for any form of organisation, overcoming financial difficulties is a gradual process that must be guided and monitored meticulously with the aid of specialists.
Our firm has gained the necessary experience in insolvency law based on long-term experience.
Our insolvency lawyers are regularly appointed by the Commercial Court to mandates such as receivers, liquidators and administrators. In these roles, they are every day responsible for a range of files, and are entrusted with performing various procedures. Expertise they are more than willing to share with you.
Providing advice when filing for bankruptcy and in insolvency procedures
Our broad experience with companies in difficulties gives us the opportunity to also employ this expertise to the utmost when advising companies; both preventively and in situations when they are already in a turbulent financial situation.
We ascertain what can still be done to resolve this, potentially through amicable agreements with shareholders, financiers and claimants, by means of redistributing activities, a settlement or application of the Enterprise Continuity Act (WCO).
On the other hand, we assist when clients such as claimants, shareholders, the government, etc. are confronted with the insolvency of their clients or contract partners. Limiting damage and jointly seeking suitable solutions are in that case paramount. Where necessary, there must be immediate and resolute intervention, or conversely a mediation and consensus must be sought with a view to further consolidating your existing position. This is possible by critically monitoring the procedures used by your counterparty, potentially enforcing additional securities (retention of ownership, pledge, mortgage, etc.) or by having a number of specific measures imposed by the Court.
Vanhoucke Law is happy to assist, should you require any legal advice and/or guidance. Please get in touch with us. We help you safeguard your interests.