Višnja Mandić
Partner – Attorney at Law
BANKRUPTCY & RESTRUCTURING
Business oriented approach for best results
Our team specialized for bankruptcy and restructuring possess valuable experience, gained through some of the most prominent national cases in this area of expertise, and combine it with our general business-oriented approach to achieve the best possible results for our clients.
We represent creditors, bankruptcy administrators, and other stakeholders during all stages of bankruptcy proceedings, including participation board of creditors. We also provide full assistance in restructuring and reorganization procedures in which we strive to find the right balance and achieve optimization of the company’s current situation and its potential. In this process we actively cooperate with various economics and finance experts.
By using our business network regionally we offer critical advice on:
- Financial restructuring;
- Bankruptcy proceedings;
- Pre-prepared Plan of reorganisation;
- Insolvency / bankruptcy-related, litigation;
- Separate settlement in bankruptcy through enforcement proceedings;
- Restructuring strategy and procedures;
- Insolvency issues in corporate and financing transactions.
Ready for any challenge
Our legal experts can rely on support from our firm’s other legal teams that specialise in corporate law, real estate and construction, valuation, accounting, and auditing, which makes them ready to consider each challenge from a broader perspective and come up with the best available solutions.
Bankruptcy and restructuring team at VP Law Firm have broad experience developing effective strategies to address the highly complex issues both domestically and regionally.
Frequently Asked Questions
A company is required to initiate bankruptcy proceedings when it becomes insolvent, i.e., when it is unable to meet its obligations regularly. Our law office can assist you in assessing your financial legal status and advise you on the next steps in this process.
The first steps include a legal analysis of the current financial situation, identifying key issues, and developing a restructuring plan that may include changes in management, operations, finances, or corporate structure.
The right to collection of claims in bankruptcy proceedings is determined based on statutory regulations on the order of payment, where usually the costs of the bankruptcy proceedings are satisfied first, then primarily secured claims, and then other claims.
A restructuring plan is a document that proposes how the company will change its operations to become sustainable. The plan can be proposed by the company’s management, owners, creditors, or a bankruptcy administrator. Our office can provide assistance in drafting and proposing an effective restructuring plan.
Initiating bankruptcy proceedings can lead to loss of control over the company and, in some cases, its dissolution. Owners may lose their shares in the company, however they are usually protected from personal liability for the company’s debts.