Bankruptcy and restructuring
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Bankruptcy and restructuring

ECOVIS ProventusLaw advises individuals and legal entities on issues of insolvency, bankruptcy and restructuring of companies. This is one of the key practice areas of our law firm as two of the partners of our law firm are certified bankruptcy administrators.

Inga Karulaitytė-Kvainauskienė obtained the certification in 2009 and Loreta Andziulytė was certified in 2008. Since then the attorneys at law have completed 28 company bankruptcy procedures.

The experts of our law firm have experience in administering bankruptcy and restructuring procedures in large companies with over 100 employees, managing large amounts of high-value tangible assets and our tasks go beyond the territory of Lithuania. Our lawyers know bankruptcy and restructuring process from the inside. The majority of companies administered operated in the sector of real estate and construction, in which we have extensive experience and know-how, with real estate developers and sellers, contractors, manufacturers and sellers of construction materials among them. The activities of some companies were related to the implementation of European Union projects and with international obligations and thus the issues of bankruptcy and restructuring went beyond the borders of Lithuania. In such cases, if required, we can offer the assistance of our partners from the ECOVIS network operating worldwide.

The team of experts from various areas and the experience of bankruptcy administrators in administering medium and large companies operating in various forms and areas enable to provide high-quality administration and winding-up services. The wide range of skills of our experts and their experience enable us to apply various models of bankruptcy administration such as the diversification of the activities of a company having evaluated its capacity, resources and by focusing the activities of the company on one or several profitable areas and thus extending the commercial activities of the company until its winding-up. Our experience, variety of skills, broader outlook and business orientation enable us to protect the interests of clients efficiently and to cooperate to achieve the results pursued.

The clients of ECOVIS ProventusLaw appreciate the understanding by our lawyers of the bankruptcy proceedings “from the inside” and a large portion of legal work related to bankruptcy proceedings includes, in addition to the bankruptcy administration itself, advising executives, employees, shareholders, creditors and natural persons on issues of bankruptcy and their representation in judicial bankruptcy proceedings, in creditors’ meetings and in relations with the bankruptcy administrator.

The experience of attorneys at law Inga Karulaitytė-Kvainauskienė and Loreta Andziulytė as bankruptcy administrators is provided here:

The experience by ECOVIS ProventusLaw include:

  • Initiating company bankruptcy and restructuring proceedings
    ECOVIS ProventusLaw assesses the solvency of companies and acts as a representative of the interests of executives, shareholders and creditors in drawing up applications for the institution of bankruptcy and restructuring proceedings as well as represents clients in the process of institution of bankruptcy proceedings and appointment of a bankruptcy administrator in court.
  • Representing in bankruptcy and restructuring procedures out of court and in court
    ECOVIS ProventusLaw represents the interests of executives, employees, shareholders and creditors of companies in out-of-court and judicial bankruptcy and restructuring procedures, at creditors’ meetings, creditors’ committees, when approving creditors’ claims and in relations with the bankruptcy administrator in finding most effective solutions in bankruptcy proceedings.
  • Construction permits and construction process
    ECOVIS ProventusLaw represents clients in obtaining construction permits, in verifying their legality and in contesting them. Our lawyers represent clients in municipal institutions, the State Territorial Planning and Construction Inspectorate and in administrative courts in which disputes regarding planning documentation and construction permits are resolved.
  • Bankruptcy administration of companies
    The attorneys at law of ECOVIS ProventusLaw holding the qualification of a bankruptcy administrator have a long track record of providing bankruptcy administration services. Our lawyers ensure efficient management of bankruptcy proceedings and the balance of interests of creditors, mortgage creditors, employees and shareholders of companies.
  • Bankruptcy administration of individuals
    The attorneys at law of ECOVIS ProventusLaw holding the qualification of a bankruptcy administrator provide bankruptcy administration services for individuals. The extensive experience of our bankruptcy administrators and their professional skills enable us to ensure full protection of the interests of individuals.