INSOLVENCY SERVICESINSOLVENCY SERVICES

Liquidations

Voluntary liquidations

Usually the liquidation of a trading company appears when such company causes losses to the creditors or when it causes a high volume of debts, such as in the situation when the company cannot perform its object of activity.

The liquidation of the trading companies involves a series of legal and economic operations consisting of the termination of the company's business in progress, the transformation in money of its assets and the collection of debts, for the purpose of settling the debts to the creditors and of distributing between the shareholders or the associates the assets left.

In fulfilling the liquidator activity, by means of the strategy adopted and of the actions performed, our company aims with priority to satisfying the associates' or the shareholders' interests. On the other hand, the efforts are directed to the settlement, in so far as it is possible, of the debts belonging to the company's creditors.

B&P provides the fulfilment of the liquidator mandate in the situation of voluntary liquidation of the trading companies, as follows:

  • together with the company's administrators, it provides the patrimony inventory and the elaboration of a balance sheet presenting the exact situation of the company's assets and liabilities;
  • provides the preservation of the patrimony, of the documents and records of the company that is being liquidated;
  • provides the performance of the documents' archiving operations;
  • provides the sale in maximum profitability conditions of the company's assets;
  • provides the follow-up and the collection of the company's debts;
  • provides the keeping of the financial and accounting records, the elaboration of the financial statements;



Judicial liquidation/Bankruptcy

The judicial liquidation is a procedure applicable in the situation when a trading company no longer has the capacity to make payments to the creditors. The only motivation for continuing the activity under the management of an official receiver is the controlled cessation of the debiting company's activity. Such a cessation of activity leads to the reduction of losses and to the preservation of the possible assets.

We provide:

  • the elaboration of a report on the causes that led to insolvency;
  • the entire management or the surveillance of the debtor's activity;
  • the compliance with the lawfulness of the collective dismissal measures;
  • the performance of the inventory of the entire patrimony and the assets' appraisal;
  • the elaboration of the balance sheet for initiating the bankruptcy procedure;
  • the analysis and then the maintenance or the termination of the contracts concluded by the debtor;
  • the entering of legal actions for cancelling the fraudulent documents concluded by the debtor, susceptible to bring prejudice on the creditors' rights;
  • the follow-up of the collection of debts from the debtor's wealth;
  • the archiving of the documents belonging to the debiting company;
  • the capitalization of all the inventoried assets for some prices that ensure the payment of debts in an amount as high as possible.