Dissolution and financial restructuring of a company

The dissolution of a company means the end of its business and legal personality. We are committed to a professional, reliable, efficient and above all successful dissolution process. We ensure that our clients’ interests are protected throughout the process. We also advise on financial restructuring, business reviews and measures to put your company on a sound footing.

We work with our clients at all key stages of the dissolution process, advising them on the settlement of liabilities to creditors, the liquidation of assets and the correct and timely notification of all parties involved, including the competent authorities and registers.

We advise business entities that are about to undergo or are already undergoing a regular dissolution, insolvency or compulsory dissolution proceedings on the choice of the most appropriate dissolution proceedings for the company, including:

  • Voluntary winding-up: The process by which a company settles its liabilities to creditors and distributes any remaining assets to its owners or company members.
  • Compulsory winding-up: Compulsory winding-up proceedings are initiated irrespective of the will of the legal entity. The proceedings are carried out by the court in cases where the law provides that a legal entity must be wound up because the conditions for its continued existence have ceased to exist.
  • Dissolution under a simplified procedure – without winding-up: This approach allows the dissolution of a company without a regular winding-up, but requires full payment of all liabilities before the proceedings can be carried out.
  • Compulsory settlement: The aim of compulsory settlement proceedings is to preserve the legal personality of the legal entity – the debtor, so that an agreement is reached between the debtor and the creditors to reduce the amount owed to the creditors or to extend the period for repayment of the debtor’s liabilities.
  • Bankruptcy: Bankruptcy proceedings are conducted to realise the interest of creditors in obtaining repayment of their claims by realising all the assets of the insolvent debtor and satisfying the claims of creditors.

Our law firm’s expertise is reflected in our comprehensive handling of all key stages of the dissolution process, guiding and representing our clients through the complex, legally regulated process and ensuring the timely and proper preparation of all relevant legal documents, including:

  • drafting resolutions on the dissolution under a simplified procedure,
  • drafting declarations of repayment,
  • submitting a proposal to strike off the company from the register to the registry authority,
  • drafting a resolution on the dissolution of the company and the commencement of winding-up proceedings,
  • entering the commencement of the winding-up proceedings in the register,
  • drawing up proposals for the distribution of the company’s assets,
  • liquidation of assets, where we ensure the efficient realisation of the company’s assets and the appropriate distribution of the proceeds to creditors,
  • drafting a petition for initiation of bankruptcy proceedings,
  • drafting a petition for initiation of compulsory settlement proceedings,
  • drafting a financial restructuring plan for the company,
  • negotiating a reduction, deferral or remission of liabilities with creditors,
  • drafting and filing an objection on the negation of a notified claim; and
  • drafting and filing an action to establish the existence of a negated claim.

We recognise the importance of a successful dissolution of a company and strive to comply strictly with the law and regulations in order to preserve the reputation and integrity of the company’s owners at all stages of the dissolution process and after the company has been dissolved. 

Financial restructuring

With the right strategy, we advise business entities on the reorganisation of their financial assets and liabilities so that they can correctly and timely identify the financial obstacles arising from insolvency, preserve their business and lay the foundations for long and short term financial stability. We prepare an integrated strategy or financial restructuring plan for the client to restore the short and long term financial stability of the company.

The key objectives are: reducing debt, increasing liquidity, adapting the business and raising new capital. Our professional approach to restructuring enables the company to improve its liquidity, allowing it to operate smoothly, while at the same time helping the client to find new sources of financing, such as: investors, loans and partnerships.

Krištof & Brečko Advokatura