Voluntary bankruptcy petition

Voluntary bankruptcy petition

Sometimes, the bankruptcy of the enterprise is the only remaining option. When restructuring, refinancing, or debt relief is no longer feasible, the path of self declaration of bankruptcy remains. It is a difficult decision, but with the right preparation, it can also provide room for a controlled settlement or even a restart. 

Self bankruptcy application: carefully prepared 

Good preparation makes the difference. By taking all necessary steps in advance, you avoid wasting time and destruction of capital. Consider: 

• Completing and correctly preparing the petition; 
• Informing stakeholders such as banks, employees, and suppliers; 
• Preparing for a possible restart or controlled settlement. 

In practice, valuable time is often lost due to incomplete applications or inadequate communication. A well-coordinated preparation process helps to minimize risks and retain opportunities. 

The process of self-declaration 

The bankruptcy application is made through a petition submitted to the court by us as attorneys. However, you can also make such an application yourself, without an attorney. After submission, a hearing follows shortly. If bankruptcy is declared, a trustee is appointed on the same day. From that moment on, quick action is crucial, especially if you are considering a restart. 

Guidance from experienced specialists 

We guide entrepreneurs in all phases of the bankruptcy process: 

• Assessment of alternatives before bankruptcy is applied for; 
• Legal and strategic preparation of the application; 
• Coordination with stakeholders; 
• Negotiation with the trustee and guidance during restart or settlement. 

Are you considering applying for the bankruptcy of your enterprise? Then contact our specialists in a timely manner. We ensure a careful process with attention to your interests.