Insolvency debt recovery
Insolvency debt recovery
Where enforcement proceedings prove ineffective or analysis of the debtor's financial situation indicates insolvency, the next stage in pursuing the debt may be the initiation of insolvency proceedings.
Windykacja.lt provides comprehensive support to creditors in domestic and cross-border insolvency proceedings. Every case is preceded by an analysis of the debtor's asset situation and an assessment of whether grounds exist to file a petition for bankruptcy or to lodge a claim in proceedings already under way.
We select the appropriate course of action, taking into account the debtor's place of business, the location of its assets and the competent court.
How does insolvency debt recovery work?
Assessing whether proceedings can be initiated
After unsuccessful enforcement or a finding of the debtor's insolvency, we carry out a detailed legal and financial analysis. We determine whether there are grounds to initiate insolvency proceedings, or whether the debtor is already subject to such proceedings.
Selecting the appropriate procedure
We analyse each case individually, assessing the possibility of applying Regulation (EU) 2015/848 of the European Parliament and of the Council on insolvency proceedings or the relevant national law provisions applicable in the given country. Depending on the circumstances, we take action before the competent insolvency court so as to ensure the creditor the highest possible level of protection of its interests and to increase the chances of recovering the debt.
Creditor representation
We represent creditors at all stages of insolvency proceedings. We prepare petitions for bankruptcy, lodgements of claims, objections, appeals and other procedural pleadings. We cooperate with insolvency administrators, trustees and law firms in various European Union member states.
Pursuing the creditor's rights
We ensure the correct lodgement of the claim, monitor the course of the proceedings and take all action aimed at protecting the creditor's interests. We represent the Client in disputes concerning recognition of claims, distribution of the insolvency estate's funds and other actions carried out during the proceedings.
Is your debtor insolvent?
Through cooperation with experienced lawyers and law firms in various European Union member states, we provide comprehensive handling of domestic and cross-border insolvency proceedings. Our goal is to use all available instruments of national and EU law to maximise the level of satisfaction of claims and effectively protect our Clients' interests.