Bankruptcy Law

In some occasions, the insolvency process may be the most accurate option should a person cannot pay its creditors, since it can help them to get rid of debts.

The insolvency process can be either simple or complex depending on the assets and debts and type of person. For that reason, it is important to count with professional assistance.

In the law cases of this type, it is mandatory to be represented by an attorney and also be assisted by procurador (legal assistant for court).

The request for the bankruptcy proceeding depends on whether it is a natural or a legal person and whether there are assets to distribute. In the situation of a natural person (Second Chance Law) applicable to natural person who does not conduct business activity or self-employed (autónomo), the procedure consists of two parts: out-of-court (before notary or Chamber of Commerce) and judicial. In case of a legal person, we shall first analyse its economic situation during the last four years, and calculate the ratio between debts and assets. If there are no assets, the procedure may be closed in 3-5 months.

The answer to this question may defer depending on the type of proceeding and the assets and liabilities of the debtor. The proceedings without assets can be finished in a few months, however, the bankruptcy proceedings that require liquidation, can take between 2 and 10 years. This is usually the case of large companies.

Benefits of Supra Legit

Beyond our wide experience in the representation before the Court, we have expertise in negotiations with banks, financial entities and other creditors. Our team has a wide experience in preparation for bankruptcy, drafting of insolvency settlements, and the preparation and execution of liquidity plans. In addition, we offer legal assistance in representation of directors or shareholders accused of bankruptcy offenses (for example, fraudulent concealment of bankruptcy assets).

How we work

Case study and analysis of documentation

Structuring of the operation and action plan

Constant feedback with client

Services

Negotiations with creditors

Bankruptcy settlements

Insolvency of individuals and self-employed

Bankruptcy of companies

Drafting of agreements and proposals

Corporate defense of directors

Opinions of our clients

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János Vrancsik profile picture
János Vrancsik
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Had a great experience with Ivan from Supra Legit. I had a pretty time sensitive case, and he jumped on it and helped me navigate it effectively in no time. Even when I was already satisfied with the outcome, he was not hesitant to go the extra mile, and went above and beyond so that he would provide me with the most possible value and outcome of my case. Throughout the case he communicated with me regularly via email and phone. For someone like me, who's not very fluent in Spanish, they're very easy to work with. They explain everything to you with high expertise but also in plain English. I can wholeheartedly recommend their services for anyone who's looking for legal help with any labor law case.
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Maxim Vassiliev profile picture
Maxim Vassiliev
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Was very happy to have Barbara and Inga as my representatives. Great client service, very friendly and fantastic problem solvers!
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Anna Buenafe profile picture
Anna Buenafe
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I had a great experience working with Supra Legit, specifically Barbara and Inga, to change my residency type from High-Qualified to Arraigo Familiar. They provided me with detailed guidance on the documents I needed to prepare, and they were always quick to answer my questions with all the necessary details. They were also up-to-date with the latest changes in the residency requirements, which was important because there had been some recent and significant changes in the law. What I really appreciated was how they managed my expectations regarding the processing time. They were honest about the delays at Extranjeria and made sure I knew what to expect. It was reassuring to have that level of communication.
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Anastasia Fedotova profile picture
Anastasia Fedotova
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Inga is an outstanding lawyer! Just wanted to take a moment to express my gratitude for the amazing work she has done helping me get a compensation for the unjust dismissal from my previous employer. Inga’s expertise, attention to detail and dedication to my case have been truly impressive. I am very thankful for all the time and effort she has put into achieving a successful outcome! I recommend hiring Inga’s service for everyone who wants to get a timely and regular communication, professional attitude, and high expertise in the labor law. Inga will carefully guide you through the whole process and answer all your questions and queries. Besides, she is capable of communicating in Spanish as good as in English and Russian.
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bakari kone profile picture
bakari kone
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No se que puedo decir me falta la palabra. increíble. Si alguien busca su solución ya tiene. no te perecupas. te ayudará a resolver tu problema.sin problema lo he confirmado en mi caso. mejor abogada que conocí
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Recomiendo a todos contactar a esta Oficina con Inga, es profesional, leal, flexible y abierta para adaptar el cliente de la mejor forma que haya bien por ambas partes. Tuvó que hacer un contrato de alquiler y agradecidos a su servicio, eficaz, rápido y amable! Nosotros ya tendremos en cuenta! Buen trato.
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Vollmond inex profile picture
Vollmond inex
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Inga is a great specialist in company law. She helped to launch our business in short terms. One of her distinctive features is that she is capable of drafting and negotiating in different languages and reacts quickly to any query (not common for Spain). As a client of major law firms around the world, I can spot that her firm delivers services of the same high quality.