What can be done if your business partner ends up insolvent?
For both creditors and debtors, insolvency proceedings can be a messy process shrouded in a number of myths.
Many people, for instance, assume that a debtor goes bankrupt as soon as the insolvency proceedings begin and as soon as an insolvency court draws its conclusion. The reality, of course, is quite different. In fact, the debtor will find themself in trouble long before then – and this is the exact time that their business partner/creditor could suffer prejudice. What can you, as creditors, do to maximize your profit and minimize loss? Listen to the advice of elite insolvency lawyer Michal Žižlavský, who illustrates his answers using examples from his work.
You will learn:
● what decides success in insolvency proceedings,
● how the relay-race rule works,
● everything that needs to be included in a lodgement of claims,
● whether creditors can also suffer other financial prejudices,
● what really happened with the OKD case.