Bankruptcy filings, both business and personal, are rising at a record pace. You can volunteer to become bankrupt (debtor’s petition) or your creditors (people or businesses you owe money to) can apply for you to become bankrupt. In both cases, you become bankrupt when you are unable to pay your debts and cannot come to a suitable repayment arrangement. As an immediate result, you stop operating your business and a judicial trustee (“syndic”) will take control of most of your finances and try to sell your assets in an attempt to pay off the debts.
Our practice features a team of attorneys with deep experience in the area, who are able to represent creditors and debtors in domestic and cross-border bankruptcy cases and proceedings, workouts, investigations, loans arrangements and restructurings, sale and purchase of distressed assets and debts, judicial foreclosure sales and other matters involving disputes.