Successfully initiated client’s business restructuring procedures

Motieka & Audzevičius insolvency solutions group continues successfully to defend the client’s interests in a dispute with one of the largest banks in the Baltic States. We have not only protected the client from bankruptcy proceedings but have also successfully initiated insolvency (restructuring) proceedings.

Being more specific, using the possibilities provided by the Law on Insolvency of Legal Entities, we have applied to the court for interim measures which should ensure successful negotiations with creditors and a smooth restructuring process.

The arguments and evidence provided by the Motieka & Audzevičius team convinced the court that the requested interim measures must be applied before the submission of the application to the court regarding the initiation of the restructuring case. The court gave almost 3 months to submit such an application.

This is a particularly significant victory for both –  the client and all legal entities that are currently facing or may face financial difficulties. The victory achieved proves that the possibilities provided by the Law on Insolvency of Legal Entities are not theoretical.