Best Insolvency and Bankruptcy Lawyer in Bangalore

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Insolvency and Bankruptcy Lawyer in Bangalore

Wintrustlegal has represented several clients with regard to cases relating to the Insolvency and Bankruptcy Code, of 2016. In addition to various special courts and tribunals, our Insolvency & Bankruptcy Lawyers in Bangalore have defended our clients in front of the National Company Law Tribunal. In particular, the team has provided advice and assistance to creditors on a range of potential problems that can occur due to interactions between the Code and other relevant laws.

Insolvency and Bankruptcy posed a severe challenge to the Indian economic system as the laws related to it were obsolete and redundant, however with the introduction of the Insolvency and Bankruptcy Code, 2016 by the ‘Bankruptcy Law Reforms Committee (BLRC) under the Ministry of Finance Parliament of India, the code was enacted by the Indian Parliament. The law of insolvency and bankruptcy is a type of social law that applies to all businesses, partnerships, and individuals with the additional goal of providing relief to all of them. It is a legislative process that emerged from insolvency, whereby a person is released from the majority of their debts and is subject to judicial oversight or a liquidator for the benefit of their creditors.

Types of Insolvency & Bankruptcy Lawyers in Bangalore

Bankruptcy Lawyers

Creating a court-approved reorganization plan or plan for partial repayment is how a debtor is released from financial responsibility for their debts under bankruptcy law. A debtor can file for bankruptcy of their own volition or at the request of creditors. After a bankruptcy petition is filed, creditors are generally prohibited from attempting to collect debts outside of the bankruptcy. The bankruptcy advocates in Bangalore like at Wintrustlegal seek to provide debt relief to both personally insolvent people and business debtors.

Debt Restructuring Lawyers

The key to a successful debt restructuring is a thorough grasp of the borrower’s industry as well as problems that arise throughout the loan lifecycle. In such difficult situations, our restructuring lawyers in Bangalore at Wintrustlegal use our detailed commercial understanding of the goals of various stakeholders, including financial institutions, financiers, creditors, borrowers, shareholders, etc., to develop optimal and impartial solutions.

Creditors' Rights Lawyers

An advocate for creditors’ rights like in Wintrustlegal defends creditors’ rights to pursue debts from people or companies. This lawyer can also resolve conflicts between two or more creditors who are attempting to recoup the debt from the same person.

Foreclosure Defense Lawyers

Wintrustlegal also provides services for foreclosure defense. Your rights and interests will be safeguarded throughout the insolvency procedure if you cooperate with an expert insolvency law counsel. Your advocate can assist you in understanding your legal alternatives and making wise financial decisions.

Business Reorganization Lawyers

Our advocates carefully compare the timelines for a tribunal-approved plan of arrangement, merger, or demerger and a contractual spin-off (which is quicker but less tax effective) with their clients. To achieve client goals (including tax neutrality) without lengthening the tribunal approval procedure, we have introduced ground-breaking methods.

Liquidation Lawyers

The procedure of purchasing or liquidating a firm is covered under liquidation law. The process of ending a company’s existence is known as liquidation. The procedure includes selling the firm’s property or turning it into cash, which is then given to the shareholders, staff, and any external creditors who are due money once the company is liquidated. To put it another way, liquidation happens when a company converts its fixed investments into cash.

Insolvency Litigation Lawyers

The bankruptcy lawyers in Bangalore like Wintrustlegal can help with a variety of insolvency issues, from the creation of restructuring plans to negotiating with creditors.

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Why Choose Wintrustlegal for your Insolvency & Bankruptcy cases in Bangalore

Experienced and Knowledgeable Legal Team

We have highly qualified Best Insolvency & Bankruptcy Lawyers in Bangalore that have experience representing clients before the NCLT and the Insolvency and Bankruptcy Board of India. From sending notice in accordance with section 8 of the IBC to submitting an application under section 9 before NCLT seeking the start of the corporate insolvency process, we support our client at every level of the procedure.

Personalized Approach to Each Case

Wintrustlegal provides legal solutions which are tailored according to the facts and circumstances of each case. Our expert team of lawyers is well-experienced and knowledgeable in the field of Insolvency and Bankruptcy Law.

Proven Track Record of Success

The legal team at Wintrustlegal has a track record of assisting businesses and individuals with the expert preparation of a variety of legal papers, such as a demand notice under Section 8 of the 2016 Insolvency and Bankruptcy Code. Wintrustlegal provide creditors with professional support if they intend to send their debtors an articulate demand notice that includes all the necessary information and attachments.

Comprehensive Understanding of Insolvency and Bankruptcy Law

The team offers assistance and direction in assessing the assets and liabilities of a stressed firm and, in line with that, offers guidance on the risk involved in acquiring the businesses of stressed companies that are going through a resolution process.

The aim and goal of Wintrustlegal are to provide effective legal services, by protecting the rights and interests of their clients. We provide legal services relating to Insolvency and Bankruptcy at an affordable consultation fee.

Dedicated to Protecting Your Rights and Interests

Wintrustlegal claims to provide legal counsel catering to the concern of the client. We ensure and are dedicated to protecting the rights and interests of our clients, our ultimate goal is that the client can claim trust in us and we can serve them with the best possible legal solution.

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

Our Insolvency & Bankruptcy advocates in Bangalore do not charge our clients exorbitantly unlike our competitors. We make sure to support our clients through all procedural hindrances and resolve disputes within the shortest span of time. We are here to serve our clients and provide them with tailored legal solutions. Our expert team of insolvency lawyers in Bangalore holds a long-standing career in the field of law and especially in resolving disputes related to insolvency and bankruptcy law.

Benefits of hiring Wintrustlegal for Insolvency & Bankruptcy Cases in Bangalore

Some papers are unavoidably required to draught and file a demand notice per Section 8 of the 2016 Insolvency and Bankruptcy Code. The documents are listed below:

Invoice for a balance owed on an operational debt
Information regarding the corporate debtor about the operational creditor
Information about the allegedly defaulted loan that is still owed
Information on any holdings in securities
Any information utility records demonstrating default evidence

Any agreement or paperwork demonstrating a payment default, Wintrustlegal’ corporate insolvency lawyers in Bangalore can assist in filing these documents, especially drafting and execution of the documents required under Section 8. We also provide services related to negotiations with the creditor and debtor. Our services include consultation on insolvency and bankruptcy matters, asset liquidation, etc.

Why Choose Wintrustlegal

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Testimonials

“The expertise and handling of our NCLT cases by Wintrustlegal was fantastic and produced fantastic results. Their expertise has been honed by their exposure to corporate bankruptcies. We would unquestionably keep looking to them for advice and suggest Wintrustlegal.”

Dhiman Sen

“I want to officially express my gratitude for their high standards of professionalism, thorough comprehension, and persuasive advocacy before the appropriate adjudicating authorities. And from their perspectives, it has been a really beneficial learning experience for me as an insolvency professional. Best wishes to the team, and may you continue to grow and soon establish yourself as an all-India firm.”

H. Mishra

“The firm’s practices in Insolvency and Bankruptcy cases is highly exceptional, insightful and commendable. I will highly recommend them to my peers and colleagues.”

R. Tyagi

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

FAQ’s

What is insolvency law, and how can Wintrustlegal Advocate help me with my insolvency case?

A financial creditor may start the Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code, an operational debtor may start it under Section 9, or the corporate debtor itself may start it under Section 10 of the Code by submitting an application to the National Company Law Tribunal (NCLT).

Wintrustlegal can provide legal counsel on filing the resolution process for corporate insolvency. We provide our services at an affordable rate and aim at efficient provision of services.

What are the different types of insolvency proceedings, and which one is appropriate for my company's situation?

Insolvency Proceedings are referred to as Corporate Insolvency Resolution Process in India and can be initiated by a debtor, creditor, or corporate debtor. The appropriate stage will depend upon the financial situation of the company and sound legal advice from an experienced Insolvency lawyer can help in deciding the appropriate measures and resolution of the situation.

What are the roles and responsibilities of various parties involved in insolvency cases, such as creditors, debtors, and insolvency professionals?

Assessing the financial standing of a company, partnership, LLP, individual, etc., and ensuring a smooth dissolution procedure are the main responsibilities of an insolvency professional. In some circumstances, these experts hunt for chances to save businesses.

Can Wintrustlegal Advocate help me manage the common issues faced by insolvent companies, such as restructuring debt, negotiating with creditors, or selling assets?

According to the Act, if someone gave corporate debtor goods or services and the corporate debtor defaulted by not paying all or part of the debt or by missing payments, the creditor could sue the corporate debtor by submitting a petition to the NCLT.

What is bankruptcy law, and how does it differ from insolvency law?

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.

Can Wintrustlegal Advocate assist me with filing for bankruptcy, managing bankruptcy proceedings, or defending against bankruptcy claims?

Wintrustlegal has an expert team of lawyers who can assist their clients with filing for bankruptcy, managing bankruptcy proceedings, or defending against bankruptcy claims.

What is debt restructuring, and when is it good for my business?

In the session of the debt restructuring process, getting lenders to agree to lower loan interest rates, longer payment due dates for the company’s obligations, or both, is an usual step. By taking these steps, the company is more likely to pay its bills on time and carry on with its operations.

How can Wintrustlegal Advocate guide me through the legal considerations for debt restructuring, such as negotiating with lenders, drafting agreements, or seeking court approval?

Wintrustlegal can guide you through the debt restructuring process. We have an experienced team of lawyers who have adequate experience in drafting and negotiation techniques.

What is liquidation, and how can I avoid it if possible?

When a corporation stops operating and is deregistered, its assets are sold as part of the liquidation process. The assets are sold to satisfy the claims of the shareholders and creditors, among other parties. When a business becomes insolvent and is unable to continue operating, it goes through the liquidation process.

How can Wintrustlegal Advocate help me with cross-border insolvency cases, such as dealing with foreign creditors, pursuing assets abroad, or navigating different legal systems?

IBC Sections 234 and 235

Sections 234 and 235 of the IBC offer two provisions that are helpful in cross-border insolvency disputes. In order to address the concerns of cross-border insolvency, Section 234 of the IBC gives the Central Government the authority to enter into bilateral agreements with foreign jurisdiction.