Legal assistance to creditors and mortgagees/chargees in connection with insolvency proceedings is an important area of our legal services.
Insolvency and Restructuring
We appreciate the importance of value-adding solutions for the parties involved.
When insolvency proceedings are commenced against a debtor or a debtor is at risk of being declared bankrupt, the creditors and mortgagees/chargees must decide how to handle the situation. Naturally, they will typically focus on securing the value of any assets covered by mortgages or charges.
How can we assist creditors and mortgagees/chargees?
Our legal services cover a broad range of areas where we can serve as a partner for creditors and mortgagees/chargees such as:
- Loan management
- Debt collection and debtor management
- Management of security interests
- Debt and asset localisation, protection and collection
- Management of distressed real estate, aircraft and vessels
- Transfer of bad debts
Debt collection and debtor management
We have many years of experience in debtor management on behalf of our clients. Our expertise covers all aspects of debt collection, and we advise both companies, including financial institutions, and organisations on how to handle debt collection cases.
Invoice collection
We assist companies and organisations in relation to customers failing to pay their invoices on time. The invoices often concern payment for goods or services sold or provided, payment of membership fees, unpaid rent or service charges and, for example, repayment of incorrect salary payments.
Debt collection for banks, mortgage credit institutions, etc.
We assist banks with loan management and mortgage credit institutions in relation to customers failing to repay their loans on time. Furthermore, we help leasing companies and other financial institutions in relation to customers failing to meet their payment obligations.
We have experience with all issues concerning debtors' non-payment, and we are ready to advise on the measures that can be taken by companies to avoid bad debts – and thus limit the number of debt collection cases.
Management of security interests
Typically, the security offered to large creditors, particularly banks, will include the debtor's most valuable assets, e.g. a mortgage on a property or a charge on specific assets or receivables or a company charge.
If a debtor is declared bankrupt, the trustee of the bankruptcy estate must work together with the mortgagees/chargees to sell the assets covered by mortgages or charges. Based on our experience, the following questions may arise:
- What assets are covered by the mortgage/charge?
- Have I unconsciously taken possession of the assets at a bad time?
- How do the mortgage/charge affect my other dealings with the debtor?
Our insolvency specialists will help you find answers to those and many other questions that you may have as a mortgagee or chargee. We also have vast experience in how to tackle those issues both as a trustee of the bankruptcy estate and as a legal advisor to the creditor.
Please contact us for an informal discussion of how we can assist you.
