Best Insolvency and Bankruptcy lawyers in Chennai

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    Insolvency and Bankruptcy lawyers in Chennai

    A specialized team of insolvency & bankruptcy lawyers in Chennai is available at our respected law office to help you navigate the complexity of insolvency and bankruptcy law. If you have to cope with personal bankruptcy or corporate insolvency, our team of skilled professionals is ready to assist you. 

    Insolvency Bankruptcy Advocates

    Types of Insolvency & Bankruptcy cases handled by our Lawyers in Chennai

    Liquidation

    Liquidation

    Similar to closure, liquidation describes the process of dividing up a company’s assets among claimants. Asset liquidation can be either voluntary or compelled. Our top Insolvency & Bankruptcy lawyers in Chennai at Wintrustlegal provide services related to insolvency and liquidation proceedings.

    Receivership

    Receivership

    If the business doesn’t make loan payments, secured creditors may use receivership as a remedy to recoup sums owed under a secured loan. We also provide receivership services at our law firm.

    Debt Restructuring

    Debt Restructuring

    When a creditor modifies the conditions of your loan arrangement so that you can handle the payments better, this is known as debt restructuring. This can entail extending the loan’s maturity date, paying less in interest, or even lowering the total amount owed. We provide advice to our clients on corporate insolvency and debt restructuring.

    Voluntary Administration

    Voluntary Administration

    In the run-up to creditors’ decisions regarding the firm’s future, the voluntary administrator has all the authority of the company and its directors, including the authority to sell or close the company’s business or sell specific assets. We assist our clients with voluntary administration.

    Creditors' Voluntary Liquidation

    Creditors' Voluntary Liquidation

    When the members or shareholders of a corporation decide that it can no longer pay its debts and that it is bankrupt or soon to become insolvent, a creditor’s voluntary liquidation takes place. Our Insolvency & bankruptcy advocates in Chennai thereby enable our clients to go through the process of voluntary liquidation.

    Members' Voluntary Liquidation

    Members' Voluntary Liquidation

    A Members’ Voluntary Liquidation is a tax-effective approach to wind down a Company that has served its purpose. The company must have enough assets to cover its liabilities in order to be solvent. The company must be capable of paying off its debts within a year. We provide services related to members’ voluntary liquidation.

    Compulsory Liquidation

    Compulsory Liquidation

    A court-based process known as compulsory liquidation (or winding up) allows for the realization and distribution of a company’s assets to its creditors. An official petition must be filed with the court (sometimes known as “presenting” the petition). We also provide services related to compulsory liquidation.

    Scheme Of Arrangement

    Scheme of Arrangement

    A corporation in financial problems might use the Scheme of Arrangement method to come to a legally binding agreement with its creditors to repay all or part of its obligations over a predetermined period of time. We provide a scheme of arrangement services to our clients.

    Debt Recovery

    Debt Recovery

    (a) the defendant’s arrest and incarceration; (b) the attachment and sale of the defendant’s personal property; and (c) the designation of a receiver to oversee the defendant’s real estate holdings.

    Fraudulent Conveyance

    Fraudulent Conveyance

    A fraudulent conveyance occurs when the title to real estate is transferred with the intent of protecting it from a known creditor. The creditor may file a lawsuit to challenge the transfer in such a situation.

    Fraudulent Conveyance

    Preferential Payments

    Prior to filing for bankruptcy, creditors may get payments known as “preferential payments,” which allow them to receive more money than they otherwise would have been able to.

    Preferential Payments

    Bankruptcy Litigation

    When a person declares they are unable to repay their debts to creditors, bankruptcy is a legal procedure that takes place.

    Why Choose Wintrustlegal for your Insolvency & Bankruptcy cases in Chennai

    Expertise in Insolvency and Bankruptcy Law

    Our skilled insolvency attorneys have a wealth of knowledge addressing insolvency disputes. Their comprehensive knowledge of the insolvency procedure, including filing insolvency petitions and representation in insolvency proceedings, guarantees that your legal difficulties will be handled effectively and properly.

    Proven Track Record of Success

    Our best insolvency & bankruptcy lawyers in chennai have adept knowledge and thus have a proven track record of success, with a fruitful representation of their clients before different forums.

    Personalized Approach to Each Case

    We have a group of knowledgeable  Best Insolvency & Bankruptcy advocates in Chennai who handle cases for and against operational creditors as well as financial creditors in a timely and economical manner.

    Bankruptcy Litigation
    Insolvency Bankruptcy Attorney

    Strong Communication and Negotiation Skills

    Our team of expert  Insolvency & Bankruptcy law firms in Chennai have strong communication and negotiation skills that enable them to represent their clients effectively in cases related to insolvency and bankruptcy law.

    Comprehensive Understanding of the Legal System and Procedures

    The Insolvency and Bankruptcy Code, 2016, has been the subject of multiple cases handled by the Wintrustlegal team, which has represented both creditors and debtors before different company law and appellate tribunals. The group has defended creditors in a number of industries, including the power, industrial, travel, and banking sectors.

    How are we different from other Insolvency & Bankruptcy advocates in Chennai

    We take pride in providing some of Chennai’s top insolvency lawyers with their services. Our Insolvency & Bankruptcy attorney in Chennai are the best option for any person or business dealing with insolvency due to their extraordinary skill and understanding of insolvency legislation. Any person can find it difficult to deal with personal bankruptcy. Our compassionate and knowledgeable personal bankruptcy attorneys in Chennai are available to help and advise clients throughout the bankruptcy procedure while offering wise counsel and thorough legal services. 

    Insolvency Bankruptcy Lawyers Chennai

    Our Process

    Our team has initiated the insolvency resolution process and sought relief before the National Company Law Tribunal (NCLT) on behalf of multiple clients. In order to protect our client’s financial interests during the insolvency procedures, the team assists them with a targeted mix of litigation and advice services. 

    The group is ideally situated to offer asset reconstruction firms strategic counsel. Our team aids in evaluating the assets and liabilities of distressed companies, offering guidance and advice regarding the associated risks of acquiring such businesses undergoing a resolution process. 

    We provide valuable insights throughout this assessment.

    Insolvency Bankruptcy Process in Chennai

    Benefits of hiring Wintrustlegal for Insolvency & Bankruptcy Cases in Chennai

    • Wintrustlegal practice is the ideal legal counsel in Tamil Nadu for NCLT bankruptcy filings. We provide you with the greatest solutions in all conceivable aspects as the best insolvency and bankruptcy code attorneys.
    • Many businesses experience financial difficulties as a result of bad debts; in order to get out of this scenario, Wintrustlegal will offer competent solicitors to assist you in submitting an insolvency petition to the NCLT.
    • Within six months after filing a claim with the National Company Law Tribunal, you can recover money from bad debts with the assistance of our legal experts.

    Why Choose Wintrustlegal

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    Testimonials

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    “We were going to be bankrupt; Wintrustlegal helped us with our insolvency and bankruptcy proceedings. We are grateful for their services.”

    Prashant Singh

    legal service

    “We were provided with strategic counsel by Wintrustlegal as they helped us through our concerns.”

    Shashtri Kumar

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    “Our insolvency proceedings and liquidation process went seamless only because of the efforts of the insolvency lawyers at Wintrustlegal.”

    Rajani

    Get in touch with us today to schedule a consultation and discover how we can assist you with your case.

    FAQ’s

    A person who is unable to make timely debt payments is insolvent. When a person declares they are unable to repay their debts to creditors, bankruptcy is a legal procedure that takes place.

    Administration, liquidation, receivership, and voluntary arrangements are all part of the insolvency process. Bankruptcy and insolvency are two distinct concepts; the former can result in the latter.

    • Fast billing can help businesses avoid cash flow problems.
    • Securing consistent, dependable payments from long-term customers.
    • Recovering debts owing to you; refraining from letting invoices go unpaid.

    You can lose your home, your car, and other important possessions depending on the type of bankruptcy you qualify for, your income, the equity in your assets, and other considerations.

    Yes, creditors are granted certain protections under the bankruptcy code and are permitted to demand that debtors file for bankruptcy.

    Providing suggestions for restructuring corporate debt and negotiating with creditors. Providing guidance on cutting-edge techniques like invoice financing for enhancing cash flow from past-due invoices. Providing guidance on staffing levels and getting the most out of employees.

    Most of your debts, including unsecured debts like credit card bills, medical expenses, and payday loans, will be discharged in bankruptcy. You might still be obligated to pay off secured debts like a car loan or mortgage. Your bankruptcy won’t be able to wipe out all of your debt.

    There are three options : a legal process aimed at the company’s rehabilitation or reorganization to allow it to continue operating, a legal process aimed at the company’s liquidation or winding up, or a judicial debt enforcement process (foreclosure or receivership) against the company. 

    Yes, our law office is dedicated to providing Chennai residents with high-quality, reasonably priced bankruptcy legal services. Despite being economical, we never skimp on the level of service we offer to our customers. 

    Our law office in Chennai provides competent bankruptcy law consultation. You can use our services to gain a better grasp of your legal situation and your options for moving forward with bankruptcy-related concerns.

    Our Other Services in Chennai