Among the services provided by the Insolvency area of Toda & Nel-lo, we are also experts in advisory services related to express insolvency proceedings.
Most insolvency proceedings end in liquidation and, for this reason, Law 38/2011 of 10 October introduced the concept of "express insolvency".
This type of procedure is fast and agile. The bankruptcy is declared and concluded in a single order, and for this, it is necessary that, from the documentation provided, it is appreciated that the assets of the bankrupt party are not sufficient to satisfy the credits against the mass, and that there are no indications of budgets that could lead to the exercise of actions for reintegration, challenge, or third party liability.
It is therefore important to evaluate the company's assets in order to properly file the application for the declaration of insolvency, so that the judge can easily identify that it is an "express insolvency" and proceed to conclude the insolvency proceeding in the same declaration order.
- Analysis of the company's assets.
- Putting forward the most appropriate arguments in the drafting of the application for the declaration of "express insolvency proceedings".