Insolvency Law regulates all legal procedures applicable to professionals in financial distress, with the aim of preventing insolvency, restructuring the activities of viable debtors and, where appropriate, the orderly liquidation of their assets in order to cover creditors’ claims. This branch of law plays an essential role in ensuring a balance between the interests of debtors and creditors, contributing to the stability of civil and commercial transactions.

Legal advice on insolvency law requires a strategic and multidisciplinary approach, combining legal analysis with an assessment of the debtor’s economic and financial realities.

The attorney’s intervention covers both the stages prior to the initiation of proceedings, by identifying legal prevention and restructuring mechanisms, and the procedural stages themselves, by representing and protecting the legitimate interests of the parties involved throughout the proceedings.

Given the complexity of insolvency proceedings and their major impact on the economic activity, the assets and the reputation of the professionals involved, specialised legal advice is indispensable for the effective management of financial difficulties. Insolvency law thus becomes an essential legal tool for responsible business restructuring, maximising debt recovery and ensuring a predictable legal framework in crisis situations.

Specific activities in the insolvency law practice area

1. General legal advice in insolvency law

• Legal advice on the legal regime of insolvency and related procedures;
• Legal qualification of financial distress and insolvency;
• Issuing well-founded legal opinions on the appropriateness of initiating proceedings;
• Legal advice on the obligations of administrators during the pre-insolvency period and the risks of liability;
• Ongoing legal assistance for debtors and creditors;
• Analysis of the legal and financial risks generated by insolvency proceedings.

2. Insolvency prevention and business restructuring

• Legal assistance in insolvency prevention proceedings;
• Legal advice on restructuring financial obligations;
• Legal advice on arrangement with creditors;
• Legal assistance in negotiations with creditors;
• Analysis of legal measures for business recovery;
• Legal advice on restructuring mechanisms provided by law.

3. Commencement of insolvency proceedings

• Legal assistance in drafting applications for opening insolvency proceedings;
• Legal assistance in filing objections to the application for opening proceedings;
• Representation in insolvency proceedings initiated at the request of creditors;
• Drafting and pleading defences in the early stages of the proceedings;
• Legal assistance in establishing the applicable procedural framework;
• Representation before the competent courts.

4. General procedure and simplified procedure

• Legal assistance in general insolvency proceedings;
• Correct determination of the applicable procedure based on the debtor’s legal situation;
• Representation in simplified proceedings;
• Legal advice on the appointment of the administrator or liquidator;
• Legal assistance in relations with insolvency practitioners;
• Management of the procedural stages provided for under the law.

5. Judicial reorganisation

• Legal assistance in drafting and negotiating the reorganisation plan;
• Representation in proceedings for the confirmation of the reorganisation plan;
• Legal advice on amending or extending the plan;
• Legal assistance in implementing the reorganisation plan;
• Representation in disputes concerning the non-performance or interpretation of the reorganisation plan;
• Representation in all disputes arising during the judicial reorganisation.

6. Bankruptcy and liquidation of assets

• Legal assistance in bankruptcy proceedings;
• Representation in asset liquidation proceedings;
• Legal advice on the realisation of the debtor’s assets;
• Legal assistance in the distribution of proceeds from liquidation;
• Legal assistance and representation in actions to annul fraudulent acts concluded prior to the opening of proceedings;
• Advice on the order of priority in the distribution of proceeds from liquidation;
• Managing the legal implications of closing the proceedings.

7. Creditor rights and insolvency disputes

• Legal assistance regarding the registration of claims within the body of creditors;
• Representation in appeals against the preliminary and final roll;
• Representation in disputes concerning the challenging of conditional or time-barred claims;
• Legal assistance in disputes arising from insolvency proceedings;
• Legal advice on actions for annulment and liability;
• Legal assistance in actions to hold management bodies personally liable;
• Representation before the courts in insolvency-related disputes.