Best Restructuring & Insolvency Lawyers Near You

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Pi Legal Consultancy

Pi Legal Consultancy

15 minutes Free Consultation
Ankara, Turkey

Founded in 2021
55 people in their team
English
Spanish
Turkish
 Pi Legal Consultancy [PiLC] is a legal & business consulting international law office in Turkey. We have four offices based in İstanbul, Ankara and Batman. We also enjoy solution partners and lawyers based in most European Countries, Canada and the United States. PiLC is one of the...
Anona International And Consultancy Co.,  Ltd.
Bangkok, Thailand

Founded in 2020
10 people in their team
English
Thai
ANONA INTERNATIONAL AND CONSULTANCY CO., LTD. Navigating Thailand's Legal & Business Landscape with ConfidenceLocated in the heart of Bangkok, ANONA INTERNATIONAL AND CONSULTANCY CO., LTD. is a premier legal and business advisory firm. We deliver strategic, compliant, and results-driven...
SIAM LEGAL INTERNATIONAL

SIAM LEGAL INTERNATIONAL

1 hour Free Consultation
Bangkok, Thailand

Founded in 2003
55 people in their team
Thai
English
Russian
French
Siam Legal International is a premier full-service law firm headquartered in the heart of Bangkok. Established with a vision to bridge legal intricacies between local Thai and international cultures, we have become a trusted partner to a diverse range of clients, especially expatriates who choose...

Legal guides written by SIAM LEGAL INTERNATIONAL:

  • Personal Injury Claims in Thailand: What the Law Says and Options for Settlements
  • Defamation Laws in Thailand: Criminal Charges and Civil Suits
  • The State of Thailand’s Long-Term Resident (LTR) Visa Program in 2025
Recososa Law Firm

Recososa Law Firm

15 minutes Free Consultation
Lapu-Lapu City, Philippines

Founded in 2020
11 people in their team
English
Tagalog
All Specialization Law Firm & Notary Public located at the heart of Cebu City In IT Park Lahug. From Commercial Law, Labor Law, Immigration Law, Criminal Law such as Estafa, Cybercrime like Cyberlibel, Defamation, Fraud, Criminal Prosecution, Civil Law, Land Dispute, Land Registration,...
Sahal Law Firm

Sahal Law Firm

15 minutes Free Consultation
Riyadh, Saudi Arabia

Founded in 2015
53 people in their team
English
Arabic
Sahal Law Firm - Riyadh, Saudi ArabiaSahal Law Firm is a premier Saudi law firm in Riyadh providing bilingual (Arabic / English) counsel to local and international clients. we deliver end-to-end solutions in mergers & acquisitions (M&A), SAMA fintech licensing, corporate and commercial law,...
Oran Partners

Oran Partners

1 hour Free Consultation
Istanbul, Turkey

Founded in 2016
10 people in their team
English
Turkish
Oran Partners stands out as the only law firm in Turkey focused entirely on medical malpractice. Our team of committed trial lawyers specializes in representing international individuals affected by medical negligence and their families. We bring a wealth of insight from both the medical and legal...
OLM Law Advocates LLP

OLM Law Advocates LLP

15 minutes Free Consultation
Nairobi, Kenya

Founded in 2021
10 people in their team
English
Who We Are:OLM Law Advocates LLP is a leading full-service law firm in Kenya, recognized for delivering exceptional legal services tailored to diverse clients. Our clientele includes individuals, dynamic corporations, esteemed financial institutions, governmental, and non-governmental...
Akef Aldaoud & Partners Law Firm
Amman, Hashemite Kingdom of Jordan

Founded in 1990
11 people in their team
English
Arabic
Al Daoud Law Firm is a comprehensive legal service provider with international visions. For the sake of “building glory through concerted efforts with our clients”, Al Daoud shares the vision and ambition with our clients to create the brilliance together.Established in 1990, Al Daoud has now...
Adroit Law LLP

Adroit Law LLP

15 minutes Free Consultation
Nairobi, Kenya

Founded in 2021
7 people in their team
English
Swahili
Business Law & Regulatory Compliance Experts in Kenya | Adroit Law LLPYour Strategic Legal Partner for Business Growth in Kenya and East AfricaAdroit Law LLP is a Nairobi and Mombasa-based boutique law firm trusted by corporate pioneers, fast-growing enterprises, and high-net-worth individuals...

Legal guides written by Adroit Law LLP:

  • Kenya Launches Digital Nomad Visa: A Gateway for Remote Workers
  • Navigating the Payment System License Maze in Kenya
  • The Law of Succession in Kenya: Testate and Intestate Succession

Founded in 2007
14 people in their team
English
Konstantinos Darivas & Associates | Trusted Law Firm in Athens, GreeceAt Konstantinos Darivas & Associates, we are a dynamic Athens-based law firm offering high-level legal services across a wide range of practice areas. With decades of experience and a strong reputation in civil, criminal,...
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About Restructuring & Insolvency Law

Restructuring and insolvency law deals with the processes and legal frameworks that help businesses and individuals address severe financial difficulties. Restructuring focuses on reorganizing a company's structure, debts, or operations to restore financial stability and continue operations. Insolvency, on the other hand, refers to situations where a person or business cannot pay their debts when they are due. The law provides mechanisms for resolving these situations whether through formal bankruptcy proceedings, out-of-court agreements with creditors, or supervised restructuring processes.

Why You May Need a Lawyer

A lawyer with expertise in restructuring and insolvency can offer significant advantages during financially distressing times. Here are common scenarios where legal assistance is crucial:

  • If your business is facing mounting debts and is unable to pay creditors.
  • You are at risk of legal action from creditors such as lawsuits or asset seizures.
  • Your company needs to negotiate new terms with lenders or suppliers.
  • Your business is considering voluntary administration or liquidation.
  • You have received a statutory demand or bankruptcy notice.
  • You want to protect personal assets from business creditors.
  • You are interested in acquiring assets from a distressed business.
  • A creditor is seeking to recover debts and you need to understand your rights.
  • You are concerned about the personal liability of directors during insolvency.
  • You require guidance navigating court proceedings related to insolvency.

Legal professionals help clarify your options, negotiate on your behalf, ensure compliance with all legal obligations, and protect your interests throughout the process.

Local Laws Overview

Restructuring and insolvency laws can vary depending on your jurisdiction, but most follow some common principles. Key aspects to be aware of include:

  • Insolvency Tests: Most laws use a cash-flow test (can you pay debts as they fall due) and a balance-sheet test (are your assets greater than your liabilities) to determine insolvency.
  • Formal Insolvency Processes: These may include voluntary administration, liquidation, receivership, or bankruptcy (for individuals).
  • Creditor Rights: Creditors may have rights to recover debts, participate in meetings, and vote on restructuring proposals or liquidation plans.
  • Director Duties: Directors of insolvent companies have specific duties and can face penalties for insolvent trading or failing to act in the best interests of creditors.
  • Priority of Payments: Laws determine the order in which creditors are paid, with secured creditors usually taking priority over unsecured creditors.
  • Protection from Legal Action: Certain insolvency procedures provide temporary protection from lawsuits and enforcement actions while restructuring is attempted.
  • Personal Insolvency: For individuals, bankruptcy laws outline how assets are distributed and set out a process for discharge from most debts after a certain period.

It is essential to consult local laws or a legal professional as regulations and procedures can differ between jurisdictions.

Frequently Asked Questions

What is the difference between insolvency and bankruptcy?

Insolvency is a financial state where a person or business cannot pay debts as they come due. Bankruptcy is a formal legal process used to resolve insolvency for individuals or, in some jurisdictions, businesses.

What does restructuring involve?

Restructuring involves reorganizing a company's operations, assets, debts, or organizational structure to improve financial stability and avoid insolvency.

Can I be held personally liable for company debts?

Directors and officers may be personally liable if they allow a company to trade while insolvent or breach other legal duties. Otherwise, company liability is typically limited to company assets.

What are my options if my business is insolvent?

Common options include negotiating informal arrangements with creditors, appointing an administrator, entering into formal liquidation, or seeking court assistance through official processes.

Can creditors take my personal assets?

For companies, creditors are generally limited to company assets unless you have provided personal guarantees. For individuals, personal assets may be at risk in bankruptcy.

How does liquidation work?

Liquidation involves winding up a company's affairs by selling assets, paying creditors in order of priority, and dissolving the company.

What is voluntary administration?

Voluntary administration is a process where an external administrator is appointed to assess options for saving a company or achieving a better outcome for creditors than immediate liquidation.

What happens to employees during insolvency?

Employees are usually priority creditors and have statutory entitlements to certain payments, such as outstanding wages and leave, subject to available funds.

Can I stop debt recovery or legal action if I enter into insolvency?

Certain insolvency processes may temporarily halt legal actions and debt recovery to allow restructuring or orderly asset distribution.

How can a lawyer help me with restructuring or insolvency?

A lawyer can assess your situation, explain your rights and obligations, guide you through legal processes, negotiate with creditors, and represent you in court or at creditors' meetings.

Additional Resources

Here are some resources, organizations, and government bodies to assist you with restructuring and insolvency matters:

  • Local insolvency or bankruptcy regulator (for example, a country's Insolvency Service or Bankruptcy Court)
  • Professional associations for insolvency practitioners and lawyers
  • Government small business advisory services
  • Consumer protection agencies
  • Local chambers of commerce
  • Financial counselling organizations
  • Legal aid services

These organizations may offer information, advice services, or referrals for individuals and businesses facing financial difficulties.

Next Steps

If you are experiencing financial distress or facing the risk of insolvency, it is important to act early. Here are practical steps to consider:

  • Gather all relevant financial information, including debts, assets, contracts, and correspondence from creditors.
  • Contact a qualified restructuring and insolvency lawyer for a confidential assessment of your situation.
  • Reach out to financial advisors or insolvency practitioners to explore all available options.
  • Avoid making new significant financial commitments or disposing of assets until receiving legal advice.
  • Follow all statutory requirements and respond promptly to any formal communications from creditors or authorities.

Early intervention can provide more options and help achieve the best possible outcome. A legal professional can guide you through each stage of the process to protect your interests and comply with the law.

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Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.