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Components of the insolvency process:

• Declaration of insolvency;

• Bankruptcy proceedings;

• Obligation cancellation procedure;

• Deletion of obligations.

Successful completion of all these stages will clear the debts.

The most important thing about the bankruptcy procedure:​

• Creditors submit creditor claims;

• The administrator requests information, we help prepare the answer, the administrator identifies the debtor's property and checks whether transactions have been closed to hide the property;

• The administrator compiles the register of creditors;

• We are preparing a debt settlement plan.

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The insolvency process is a complex set of steps and conditions. I help my clients to successfully implement it, so that they get rid of obligations that they cannot fulfill.

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Costs of the insolvency process of a natural person:

• Administrator's remuneration - 1400.00 euros (payment to be made before submitting documents to the court);

• State fee - 70.00 euros (payment must be made before submitting the documents to the court);

• Fee for preparation of documents 1000.00 - 1400.00 euros, depending on the complexity of the process. Payment is made in installments.

* The fee includes managing the process, monitoring and providing answers to various questions of interest throughout the process, assistance in obtaining the necessary documents, preparation of the application, preparation of the response to the administrator's request for information, preparation of the debt settlement plan and application for the declaration of the debt settlement procedure.

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Insolvency process of a legal entity

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The insolvency process of a legal entity is one of the most complicated legal institutes. Roles of legal entity insolvency proceedings:

• Creditor;

• Member of the Board;

• Employee;

• Debtor.

In the insolvency process, everyone has their own interests, which we professionally represent.