Corporate Bankruptcy Procedure | It seems I need to proceed with bankruptcy proceedings.

The client who requested assistance with corporate bankruptcy proceedings

In order to confirm the accurate criteria for judgment and the direction of progress regarding corporate bankruptcy proceedings, the client came to Daeryun.

The client, while running a small-to-medium-sized manufacturing business, saw profitability rapidly deteriorate due to global supply chain instability and intensifying technological competition, and reached a situation where payment of wages and supply payments was being delayed due to accumulated debt.

Accordingly, the client even attempted external financing and additional loans, but as it was judged that the likelihood of business recovery was low, the client requested a consultation with an insolvency lawyer in order to proceed with corporate bankruptcy proceedings.

As a result of the corporate bankruptcy proceedings assistance, "a bankruptcy decision"

For corporate bankruptcy proceedings, the key was the process of proving the state of insolvency and excess of liabilities with objective materials and persuading the court of the absence of any possibility of rehabilitation.

The insolvency lawyer precisely analyzed the financial statements and transaction records, organized the state of insolvency in numerical terms, and submitted an opinion statement synthesizing the circumstances of the business suspension and the reasons it could not survive.

In addition, after the application was filed, the attorney proactively responded to the court's requirements so that the hearing could proceed without procedural delay, and as a result was able to draw out a corporate bankruptcy declaration decision from the court.

Satisfied with this, the client also expressed gratitude.

If you are considering corporate bankruptcy proceedings in a situation where business normalization is difficult, please request help from an insolvency lawyer at any time.

🔗What are the requirements and necessary documents for a corporate bankruptcy application?