Insolvency and financial distress
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At Sundgaard, we have extensive experience with all aspects of insolvency, bankruptcy and financial distress. We are qualified to help you or your business manage any financial challenges.
Insolvency
When a business has financial difficulties, it is in the interest of both the business and the creditors to deal with the issues head on. We can map out what options are available going forward, partly to secure the values in the company, partly to ensure the on-going relationship between all parties.
Possible measures could be agreements and settlements with the creditors, internal restructuring, external financing through new investors, considerations about in-court restructuring or bankruptcy proceedings.
Often you must act quickly. A close and transparent dialogue should be initiated between the business and the creditors, if losses for all parties are to be limited. If dealt with in due time, it is often possible to ensure all or parts of the business, secure assets, future earning opportunities and relationships.
Sundgaard provides advice in all aspects of insolvency law. The proceedings require the ability to think outside the box and we always try to find solutions that secure the assets/values, satisfy the majority of creditors, save business’, jobs, and future earnings.
We offer services to both creditors, including financial institutions and business’ where customers, suppliers and trading partners have payment problems. In addition, we provide advice to business’ that are financially challenged.
Sundgaard has extensive experience with:
- Bankruptcy proceedings
- Handling both in and out of court restructurings and turnarounds
- Handling forced dissolution and liquidations
- Negotiating and arranging payment agreements and settlements between financially challenged people and business’ and their creditors
- Filing petitions for bankruptcy and restructuring
- Debt recovery and creditor representation regarding insolvent estates
- Buying and selling of distressed business’
- Litigation on behalf of or against bankruptcy estates, including avoidable claims, management liability and disqualification proceedings against the former management
- Debt relief proceedings
- Handling real estate in insolvency scenarios, including foreclosures.
At Sundgaard, all our partners are certified insolvency attorneys. The law firm handles insolvency cases and bankruptcy proceedings throughout the country. Among other things, attorney-at-law Gunvor Sundgaard Happe has been appointed as one of the Maritime and Commercial Court’s 19 permanent administrators. Because of this appointment we deal with a significant number of bankruptcy proceedings and forced dissolution and liquidation matters.
