Corporate legal services
Liquidation and bankruptcy
The economic processes in Bulgaria and Europe may necessitate your business’ liquidation or bankruptcy. In some cases liquidation may be enforced, even if the managing bodies lack the will for this. In these cases, you can count on our expertise for complete fulfilment and protection of your interests. A company’s liquidation may also be purposeful and planned as early as upon its incorporation – in these cases, we can provide support for the timely termination of the company, the fair and timely redemption and allocation of assets, and for the company’s deletion from the Commercial Register and the Register of Non-Business Legal Entities. Bankruptcy proceedings, on the other hand, almost always involves falling into unforeseen insolvency and/or over indebtedness, and may impact the future possibility for members of the management bodies to participate in the management of other entities. The timely protection in clarifying the company’s financial position, as well as the request for initiating recovery proceedings and proposing a recovery plan are the first critical stages at which we will support you to protect your company’s interests and future. Next, we will protect you from ungrounded claims by creditors, and from unfair redemption of the company’s property. We will be your partners towards the successful completion of these procedure, will prepare the necessary documentation and will defend your interests in all out-of-court and court proceedings. The practical experience of Attorney in Law Ivan Nikolaev in this area is extremely rich; he has participated in the biggest bankruptcy proceedings in the country to date – that of KMB BULGARIA EAD /in bankruptcy/ – the former Carefour supermarket chain, and has been involved in all stages of a bankruptcy proceedings – from claiming, disputing and approving receivables in the proceedings by private entities, municipalities, and the state, through the factual and legal protection of the property of the company in bankruptcy, filing claims for collecting the bankruptcy amount, to redemption of property worth millions of levs and the allocation thereof to creditors.
