Statistics show that a successful restructuring after insolvency proceedings have commenced is quite rare.
The complex effort to align the usually conflicting interests of the parties fails almost every time because of the “no compromise” policy of creditors.
In Romania, the insolvency process is still associated with fraudulent debtors, vengeful creditors, biased insolvency practitioners/receivers, overloaded insolvency courts and judges with questionable reputations.
We have outstanding expertise and experience in navigating these highly complex proceedings and dealing with hostile debtors, co-creditors and insolvency practitioners. It’s a hard game, but we have learned to play it well (and by the rules).
We have represented both debtors and creditors in sensitive insolvency cases that resulted in the successful implementation of restructuring plans.