Project Description

Natural person’s bankruptcy

Since 2013, not only legal but also natural persons can declare bankrupt in Lithuania. On one hand, it is an excellent opportunity to get rid of heavy burden of financial liabilities legally, on the other hand – it is a tiresome and responsible procedure that may last up to 3 years.

Our job is to facilitate your bankruptcy procedure in the best possible way. To achieve these goals, not only your insolvency must be proven in court, but also reasons of insolvency, your honesty must be grounded, the fact that you became insolvent because of circumstances beyond your control must be proven. Securing creditors’ support and proper formation of a plan for satisfaction of creditors’ claims, which will determine success of your bankruptcy procedure, also play an important role in bankruptcy proceedings. Lawyers of our firm have been working in this field since the day natural persons’ bankruptcy came into effect in Lithuania, in addition to long-term experience accumulated in proceedings of corporate bankruptcy, taxation, financial disputes, therefore we can offer quality protection of your interests:

  • We will consult on all matters of natural persons’ bankruptcy proceedings you are concerned about;
  • We will draft an application and represent you in court;
  • We will calculate your liabilities proving insolvency;
  • We will help you choose the most suitable bankruptcy administrator;
  • We will coordinate your interests with creditors and bankruptcy administrator;
  • In negotiations with creditors, we will secure maximum possibilities for you to sustain your mortgaged or pledge property once the bankruptcy procedure finishes;
  • We draft a plan for satisfaction of your creditors’ claims and restoration of solvency.

Please note that the above-mentioned actions determine quality and comfort of you further financial life, therefore determination and proper initiation and completion of natural person’s bankruptcy proceedings should be considered with immense responsibility. We can take good care of that.