The seminar covered the following areas:
- Introduction to the topic
- The domestic environment in Latvia regarding group insolvencies
- Insolvencies with cross-border elements under Latvian law, European Insolvency Regulation (EIR), UNCITRAL Model Law on cross-border insolvency (Model Law). Focus will be on EIR with comparison to Model Law in relation to certain key issues, such as international jurisdiction, applicable law, main and secondary proceedings, rights of creditors, set-off, security rights, avoidance of transactions detrimental to all the creditors.
bnt Practice Group: Insolvency & Restructuring
BNT’s “Insolvency & Restructuring” practice group pools our lawyers’ specific skills and practical experience in dealing with financial distress and corporate insolvencies.
Financial distress and insolvency situations always require decisive action under enormous time pressure. Irrespective of whether our lawyers are involved on behalf of a company, its shareholders, or its creditors, they must be capable of quickly comprehending the economic situation of the debtor company and to analyse and implement options in an economically, legally, and psychologically highly complex environment and under tight deadlines.
BNT’s “Insolvency & Restructuring” practice group is headed by partner Frank Heemann. The team consists of lawyers from all ten BNT offices. Each lawyer offers deep expertise in insolvency and related areas of law. In addition, each lawyer has the personal strength and experience necessary to stay calm in often complex and hectic environments. Spanning ten legal systems in CEE, the international set-up of this BNT practice group allows rapid team formation to assist clients in cross-border insolvency or financial distress situations. Close ties exist to other BNT practice groups, thus providing significant surge capacity in cases requiring specific know-how. Assignments are handled in English, Russian, German and the respective languages of local jurisdictions.
GÖRG Practice Group: Restructuring & Insolvency
Insolvency matters are one of our firm's main specialities. We act as trustees and out-of-court advisors. Along with debtors, who mainly turn to us with questions on restructuring, we also actively advise creditors prior to and during insolvency proceedings. Our firm is especially experienced in out-of-court restructuring and reorganization. Legal advice on matters of international insolvency is also one of our specialties. These include Out-of-court restructuring, Capital compensation and Capital preservation, Reorganization and Restructuring, Distressed M&A, Insolvency law advice, Insolvency trustee services and International insolvencies.
Frank Heemann (BNT Vilnius)
Arne Engels ( GÖRG)