Administrators' liability
With the reform of the Bankruptcy Law, creditors may actively intervene in the qualification of the bankruptcy procedure, as new causes of culpability of the bankruptcy procedure have been introduced.
This means that new avenues have been opened for creditors to claim loans, by obtaining the culpability of the bankruptcy procedure and the condemnation of the administration body to cover the bankruptcy deficit.
For this reason, at AGM our lawyers and economists offer advice in order to obtain, on the one hand, the qualification of bankruptcy culpability and, on the other hand, the defence of the bankrupt company and/or its corporate body against such qualification.
Who do we advise?
AGM Abogados’ Administrators’ Liability service is aimed at all companies that are forced to file for bankruptcy and seek protection for their administrators against a possible declaration of culpability in bankruptcy.
It is also aimed at creditors who, until now, have seen their chances of recovering their claims diminish when their debtors file for bankruptcy, in particular surety and credit insurance companies, finance companies and, in general, companies with high levels of unpaid debts (in terms of number or amount).
What are our main Administrators’ liability services?
Our team of lawyers who specialise in administrators’ liability deals with the following:
- Conducts an investigation into the financial and legal situation of the bankrupt company.
- Prepares a containment plan for the administrators and advises them on the defence against hypothetical culpability.
- Devises a strategy for the creditors in order to obtain a culpability rating from the administrators.
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