Bankruptcy proceedings.
We prepare companies and their managers for insolvency proceedings under the Law on Insolvency of Legal Entities (Juridinių asmenų nemokumo įstatymas): assessing the state of insolvency, putting accounting documents in order, compiling creditor and debtor data, and supporting communication with the insolvency administrator and creditors.
Who it's for
This is the right solution for you if…
Companies unable to meet their obligations to creditors
Managers seeking to properly discharge their statutory duties
Creditors requiring an analysis of financial position
Scope
What the service includes
Assessment of insolvency
Analysis of financial position and determination of whether the insolvency criteria under the Insolvency Law are met.
Preparation of documents
Putting the accounts in order and preparing the balance sheet, lists of creditors and debtors, and stocktaking of assets.
Assessment of alternatives
Assessment of restructuring, an arrangement with creditors, or liquidation before insolvency proceedings are opened.
Communication with the administrator
Handover of documents, provision of explanations, and support through to completion of the process.
Employment law matters
Dismissal documents, settlements, and notifications to Sodra and the Guarantee Fund.
Managerial liability risk
Review of transactions and statutory deadlines to reduce the risk of personal liability.
A transparent and straightforward process
We value your time, so we streamline the process and keep only what matters.
Financial analysis
We assess liabilities, assets and cash flows, and establish the actual position.
Choice of procedure
We recommend the appropriate route in writing: restructuring, liquidation, or bankruptcy.
Set of documents
We compile the documents needed for the application and notices to creditors.
Support through the process
We work with the insolvency administrator through to completion of the procedure.
What you receive
Tangible results
- Assessment of insolvency finding
- Lists of creditors and debtors
- Set of documents for the insolvency case
- Handover certificate for accounting documents
Frequently asked questions
Ready for the next level
of order?
A free 20-minute consultation. After the call, you'll receive a clear proposal with price and timeline – no obligation.