We protect creditors' interests

In a troubled company, it is crucial that the creditors' interests are protected and that steps are taken very quickly when proceedings are instigated. The employees in this context are potential creditors, and solutions addressing employment conditions therefore need to be developed rapidly to ensure the optimum solution for the creditors.

Speed is essential

Restructuring proceedings call for speed - delivered by specialists. The team, with a partner at the helm, is composed within the first hours of a new case. Other Plesner specialist departments are involved in certain insolvency proceedings, and are also assigned to the case within a matter of hours. Availability is a key priority in insolvency proceedings - otherwise, we risk losing speed and efficiency. Plesner's Insolvency team is available to the creditors both before and during the proceedings.

International experience

Plesner's Insolvency team has gained experience from a broad spectrum of international restructuring and bankruptcy proceedings. This experience offers in-depth knowledge of cases in other jurisdictions, and Plesner's network also ensures that the best foreign specialists are involved.

Insolvency disputes

Plesner's Insolvency team is leader in litigation on matters of insolvency law, whether we represent the estate in bankruptcy or the creditor that may be a party to the dispute. Avoidance proceedings are naturally abundant, either for creditors or estates in bankruptcy, but there are also many cases of challenging the validity of the security provided. We examine proof in bankruptcies and also assist the creditor in presenting a statement of claim for damages, for instance when an attempt is made to disclaim a contract on the basis that it is onerous. In addition, we assist in collecting claims and are also front-runners in the exploration of liability issues for corporate management and auditors. We are always keen to conduct cases, but always make sure that we understand the creditors' view on our way of handling the case. Many disputes can be resolved by sensible settlement negotiations, others are referred to arbitration, and a third option is mediation. The important thing for us is that the dispute is resolved as quickly and well as possible, while paying attention to costs.

In some cases, it is possible to complete bankruptcy proceedings more promptly than usual, maybe by obtaining the creditors' consent for resorting to liquidation proceedings instead. We find that we provide value-creating services if we manage to present the speediest solutions - protecting the creditors' interests in the best possible manner.

Highlights

• OW Bunker - administration of the OW Bunker estate, the largest bankruptcy in Denmark in recent history
• Fenicia Invest - administration of the estate in bankruptcy consisting of a large hotel project in Spain and various property investments in Denmark as well as the disposal of a number of subsidiaries/associated companies etc.
• K/S Sweden Real Estate Portfolio - administration of the estate in bankruptcy; the administration work consisted of the sale of a large property portfolio etc.
• Sterling Airlines A/S - estate administration of the Danish airline
• Centerplan A/S - estate administration of the property company
• Stolelyngen Invest A/S and consolidated companies - trustee of the estate in bankruptcy
• Sandgården A/S - estate administration of the property company
• MG gruppen A/S and consolidated companies - trustee of the estate in bankruptcy
• I.T.M. MARINE SERVICE ApS - trustee of the estate in bankruptcy
• Buksesnedkeren A/S - estate administration of the clothing company
• BIVA A/S - estate administration of the furniture company
• Icea Denmark A/S - estate administration of the printing firm
• Estatum A/S and consolidated companies - trustee of the estate in bankruptcy