Liquidation & Bankruptcy
Liquidation & Bankruptcy
At Company Lawyer we work as a trustee in bankruptcy, reconstructers and liquidators. Situations may arise when questions regarding reclaiming issues can occur such as when a partner or counterparty risk insolvency.
We also manage specific legal questions such as in credit securities law. We have great experience finding creative alternatives and solutions for companies in an economical crisis. Company Lawyer has the expertise that enables companies and other organizations can be helped to act in time to find sustainable solutions.
Bankruptcy
A generalized term for a federal court procedure that helps consumers and businesses get rid of their debts and repay their creditors. If you can prove that you are entitled to it, the bankruptcy court will protect you during your bankruptcy proceeding. In general, bankruptcies can be categorized into two types — “liquidations” and “reorganizations.”
Liquidation
The process by which a company (or part of a company) is brought to an end, and the assets and property of the company are redistributed. Liquidation is also sometimes referred to as winding-up or dissolution, although dissolution technically refers to the last stage of liquidation. The process of liquidation also arises when customs, an authority or agency in a country responsible for collecting and safeguarding customs duties, determines the final computation or ascertainment of the duties or drawback accruing on an entry. Liquidation may either be compulsory (sometimes referred to as a creditors’ liquidation) or voluntary (sometimes referred to as a shareholders’ liquidation, although some voluntary liquidations are controlled by the creditors).