Monday, 18 December 2017

Restructuring & Insolvency

We have advised banks and borrowers on corporate debt restructuring, preparing and negotiating restructuring agreements and related documents, and advising on bankruptcy matters. We have extensive experiences in bankruptcy proceeding where the scope and depth of our legal practice enable us to commence the process of debt recovery with successfully to recover the rights of clients. As a trustee (Receivers and Administrators), LHP has duty to review your bankruptcy petition and verify the information and calculations using your financial documents and other independent sources. When you file bankruptcy you file a petition and other papers with the court disclosing your personal and financial information. Your bankruptcy papers include information about your debts, your property, your income, and the state of your financial affairs. Entering into bankruptcy does not eliminate a debt. The debt recovery however, ceases to be due and payable for the duration of the bankruptcy. If there is a bankruptcy notice in place, the lawyer may take bankruptcy proceedings against the debtor by filing a creditor’s Petition in the Commercial Court. This debt recovery should only be taken if, to repay the debt, the debtor has property or access to funds that can be used.