Restructuring & Insolvency

Restructuring and insolvency is governed by Act no. 7/2005 Z.z. on insolvency and restructuring. The Act regulates steps regarding insolvency or impending insolvency of the debtor (where restructuring is already possible), satisfaction of creditors and natural person’s debt elimination. Restructuring proceeding differ from insolvency by its duration and the fact that it is not a liquidation procedure (as in the case of insolvency). The primary goal of restructuring is to preserve debtor’s business and the gradual satisfaction of debtor’s creditors.
Legate lawyers have experience with settlements, debt restructuring and resolution of disputes in restructuring. Legate lawyers are licensed insolvency and restructuring administrators and are now appointed as administrators in several, simultaneous insolvency proceedings.
Our experience in the field of restructuring and insolvency includes: