BBNP provides services for organizing and conducting bankruptcy proceedings.
This service is useful for both the creditor and the debtor.
For the creditor, the bankruptcy of the debtor is the only effective way to collect the debt in case the latter has insufficient property.
Our firm’s bankruptcy practice is very successful: lawyers of BBNP with the assistance of arbitration managers successfully appeal transactions, hold auctions, and bring the debtor's management and founders to subsidiary liability, which allows a good chance of recovering the debt.
For the debtor, bankruptcy provides the opportunity to pay off accounts payable at a significant discount, "cleanse" the company of doubtful debts, negotiate with minority shareholders and creditors, avoid criminal liability for willful evasion from paying off debts as well as for deliberate bankruptcy, and avoid the risks of subsidiary liability. In some cases, this is the only legal way to wind up a company.
We rely on established relations with self-regulatory organizations of arbitration managers in various regions, which allows us to use a wide network of representative offices and partners throughout Russia.
We have extensive experience in working with debtors in the liquidation of companies using bankruptcy procedures. The key to success in this process is to be patient and trust the lawyers.