Restructuring and insolvency

“Bankruptcy is when you don’t have anything,” said the doctor to the little boy in the classic Latvian movie “Ezera sonāte” (Lake Sonata) when he wanted to give away all of his apples. The scenes on the subject of “bankruptcy” in this movie are relevant in situations when somebody is in financial difficulty.

NOVIUS offers the assistance of our experienced and competent specialists in solving financial difficulties. We have ensured legal assistance to different involved parties: creditors, debtors (both legal and natural persons), enterprise management, shareholders and board members.

NOVIUS specialists consult on restructuring, insolvency and bankruptcy matters, provide analyses of possible solutions, prepare documents for starting and implementing the restructuring and insolvency process both to legal and natural persons, recover debts from insolvent debtors, represent both claimants and defendants in legal proceedings regarding the recovery of losses from board members or shareholders, as well as represent the client’s interests within the process of restructuring and insolvency. NOVIUS ensures support in the acquisition of assets from insolvent debtors.

We also work as insolvency process administrators, developing restructuring plans (plans for the legal protection process and extrajudicial legal protection process measures), provide assistance in their coordination, confirmation and implementation, and provide insolvency process administrator services.

Over the years we have gained experience in various situations regarding financial difficulties and therefore we can ensure the most beneficial solutions to the client.