Prepare and file for bankruptcy
Filing for bankruptcy is a complex procedure that involves assessing debts, assets, and interacting with creditors. In a situation where a company is unable to meet its financial obligations, urgent and professional support is required. In such circumstances, a solicitor accompanies the company at all stages, ensuring legality and minimising risks for owners and management.
Stages of preparing and filing for bankruptcy
Here is how the procedure works:
- Analysis of the company's financial condition: A lawyer audits assets and liabilities, assesses liquidity and debt repayment prospects, taking into account the tax consequences of bankruptcy in Poland.
- Preparation of a package of documents: Preparation of all necessary reports, balance sheets, lists of creditors and agreements to be submitted to the court.
- Consultation with creditors: Discussion of possible solutions for debt restructuring or dispute resolution, control of the documentation of agreements.
- Preparation of the application and support for its submission: The lawyer ensures that the documents are correctly drawn up, that procedural deadlines are met and that the application is correctly submitted to the court.
- Interaction with the court after submission: Representation of the company's interests, responses to court requests, control of the activities of the bankruptcy administrator.
Compliance with all stages ensures the security and legality of the application and minimises financial risks for the company and its owners.
How to avoid risks in bankruptcy?
Filing for bankruptcy involves numerous risks, from tax claims to inspections by regulatory authorities. A lawyer assesses all potential consequences, prepares a package of documents in accordance with Polish law, and helps to avoid mistakes that could lead to administrative or criminal liability. Professional support ensures the predictability of the process and minimises stress for the company's owners.
Documents required for bankruptcy
For a successful process, it is worth preparing the following documents in advance:
- Restructuring plan: A document with proposals for debt repayment, payment order and creditor priorities.
- Financial documentation: Balance sheets, turnover and balance sheets, reports on assets and liabilities.
- Contracts and agreements with creditors: A lawyer verifies the legality and compliance with actual obligations.
- Court documents: Applications, petitions, and support in court restructuring proceedings.
- Internal company procedures: Instructions for management on interacting with creditors and monitoring the implementation of the restructuring plan.
Comprehensive preparation of documents and legal support guarantee the legality and effectiveness of the process.
ConclusionPreparing and filing for bankruptcy is a multi-faceted process that cannot be completed without qualified support. A bankruptcy lawyer ensures that documents are properly prepared, financial condition is assessed, creditors are dealt with, and the court process is monitored. This protects the company, avoids penalties, and ensures a safe and predictable outcome of the proceedings.