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With our wide range of competence, we combine the functions of business advisor, financial advisor, and legal advisor, while at the same time being able to bring broad sectoral knowledge to bear.
In 2016, a new Restructuring Law and an amendment of the Bankruptcy Law came into force. The new regulations have significantly expanded the room to manoeuvre for organizations in difficult situations, including the ability to avail themselves of a range of new types of procedures. The legislative changes have also given creditors greater ability to influence processes which they are a party to.
At the same time, the provisions currently in force give creditors and debtors the ability to influence the choice of restructuring advisor, acting as supervisor, administrator, or general receiver in the proceedings.
The general principle introduced by the new regulations is the "second chance" policy, giving a preference to restructuring proceedings over bankruptcy. The new regulations significantly change and expand the scope of duties for entities acting as general receivers, supervisors or administrators in restructuring and bankruptcy proceedings.
If taken early enough, such measures may protect a company from decreased profitability of operations, and in extreme cases from insolvency or bankruptcy.
Depending on your needs, we: