PROPERTY PROTECTION AND DEBT RESTRUCTURING
The notion of debt restructuring should be understood as changes of the structure of liabilities in terms of their value, horizon and repayment schedule as well as reduced interest rate.
We help Clients restore control over their liabilities and we prevent a bailiff from appearing. On the other hand, if the bailiff has started their actions against a debtor, we prepare a restructuring plan that we submit to a competent Court for the Court to stop the actions aimed at selling the debtor’s property. In the vast majority of cases selling the debtor’s property through a bailiff’s auction does not bring about creditors’ satisfaction, and the debtor is still left with debts, increased by the bailiff’s costs and interest which they are in most cases unable to repay.
Our negotiators represent the debtor in negotiations aiming at reducing debt both in front of bank, private creditors and in front of the State Treasury institutions. Representation applies to negotiations being direct talks and by preparing relevant letters.
These actions are always aimed at leading to such a situation that the debtor has another chance of earning revenue and servicing their debt, and the creditor ultimately receives a bigger amount and receives the amount quicker than in the case of the debtor’s bankruptcy and auctioning off their property. These actions always take place with approval of Court, Court Supervisor and in consultation with the creditors.