Practice Areas
Insolvency and Restructuring
When a business faces illiquidity or insolvency, speed, decisiveness, and trustworthiness are crucial for a successful handling of the situation. In particular, this relates to the refinancing or sale of the divisions of the business that are or will be profitable and the winding up of the rest of the business, including the best possible realisation of assets.
In addition to profound legal knowledge and experience, speed, decisiveness, and trustworthiness are exactly what NORDIA contributes to the situation, and NORDIA is normally able to negotiate and implement a solution with owners, banks, suppliers, tax authorities, customers, employees, and other stakeholders, to the benefit of all parties involved.
NORDIA assists both the businesses facing financial crises and the individual creditors such as, banks, private lenders, suppliers, lessors, or the employees.
As part of the solution to a problem, NORDIA is frequently appointed by the courts as supervisor during the suspension of payments, or as trustee for bankruptcy estates, or as liquidator of companies.
Having a presence in all of the Scandinavian countries provides NORDIA with a platform to handle insolvency cases that involve more than one Scandinavian jurisdiction. A permanent cross-border team is always available to take action.
NORDIA’s assistance includes
- Reorganisation and restructuring of businesses
- Administration of bankruptcy estates
- Supervision of suspension of payments
- Voluntary and compulsory winding up
- Securing and risk managing credit agreements
- Voluntary and compulsory compositions
- Handling proceedings relating to invalidation and avoidance of transactions
- Other bankruptcy related proceedings
- Creditor representation
- Filing and protection of claims
- Debt collection
- Negotiations with financial investors
- Transfer of businesses and property