Bankruptcy
We provide legal advice to businesses, creditors, and other interested parties in bankruptcy cases and on issues that arise when a company is no longer able to pay its debts.
Bankruptcy specialists
Advice on Bankruptcy
Petition and Bankruptcy Proceedings
Recovery requirements and support for creditors
Bankruptcy becomes a possibility when a company cannot pay its debts as they come due and its inability to pay is not merely temporary. If the conditions for corporate reorganization or liquidation are not met, bankruptcy may be the last resort. But bankruptcy is not merely a winding-up. When handled correctly, it is a process where value can be preserved, order is established, and in some cases, parts of the business can be transferred and continued under new management. In the event of bankruptcy, the district court appoints a bankruptcy trustee to safeguard the interests of the creditors and work toward a swift and favorable liquidation of the bankruptcy estate. The assignment includes, among other things, identifying, seizing, and selling assets, preparing the bankruptcy estate inventory, holding a creditors’ meeting, and collecting any accounts receivable. The work requires legal precision, business acumen, and execution that delivers tangible benefits in a high-pressure situation.
Leonardo Merino’s client service and overall level of service are exceptional. His sophistication and commercial acumen are outstanding. Leonardo Merino is deeply engaged in the market. He is highly knowledgeable, deeply interested, and strongly business-oriented. He has an excellent reputation and is undoubtedly a rising star in the field of insolvency law.
Bankruptcy involves more than just winding up a company
When handled properly, bankruptcy can preserve assets, improve creditors’ chances of receiving payment, bring order to a stressful situation, and, in some cases, pave the way for parts of a business to continue under new ownership. For us, bankruptcy administration is about applying legal expertise and business acumen to achieve the best possible outcome for all parties involved.
Frequently Asked Questions
Here we answer frequently asked questions about Merino Law Firm, how we work, and what opportunities are available to you as a student.
Contact usA clawback claim involves challenging a transaction that took place prior to bankruptcy. This type of claim often requires a careful assessment of both the factual circumstances and the legal situation. We provide assistance at every stage, from initial consultation to litigation in court.
The bankruptcy trustee is impartial and represents the creditors. Their role is to take the steps necessary to ensure a swift and favorable liquidation of the bankruptcy estate. This includes, among other things, gaining an overview of the assets and liabilities, converting the assets into cash, and managing communications with suppliers, employees, landlords, the bank, and other affected parties.
A bankruptcy attorney provides legal advice both before and during bankruptcy proceedings. This may involve assessing whether bankruptcy is the right course of action, providing support to creditors, handling claims for recovery, and helping the parties involved understand their rights and obligations in the bankruptcy proceedings.
Bankruptcy proceedings begin with the trustee gathering information about the business, taking control of the assets, and preparing an inventory of the estate. Subsequently, claims are collected, past transactions are reviewed, and a trustee’s report is prepared. If funds remain, a distribution is made before the bankruptcy is closed.
If you’d like to learn more about the bankruptcy process, you can read our article “The Different Stages of the Bankruptcy Process.”
Bankruptcy proceedings are initiated when the company itself or one of its creditors files for bankruptcy with the district court. For bankruptcy to be granted, the company must be insolvent—that is, unable to pay its debts on time—and the problem must not be merely temporary. The district court then issues a bankruptcy order and appoints a bankruptcy trustee.
Merino helps you through financial difficulties
We assist companies facing financial difficulties or liquidation. We offer advice on claims or demands under the provisions of the Bankruptcy Act.
