Bankruptcy and insolvency
We are insolvency law specialists and we have in-depth experience with all types of insolvency law advice, including bankruptcy and reconstruction.
If your company is faced with a claim that cannot be paid, or continued business of the company is no longer possible/responsible, we can assist in making a bankruptcy petition, so that the company is declared bankrupt by the bankruptcy court. It is free of charge to file a self-petition for bankruptcy.
As management, you must be aware that you may be obliged to cease business operations and arrange for the liquidation of the company if it is hopeless to continue operations, and you may risk liability to creditors who suffer further losses if operations are continued, and the management may also risk a bankruptcy quarantine if you are considered to have participated in grossly irresponsible business conduct in the company.
We can also assist with filing a bankruptcy petition against a debtor if your company has a claim and the debtor is unable to pay (insolvent). A court fee of DKK 1,500 must be paid and a security for the costs of handling the bankruptcy estate must be provided. It is the bankruptcy court that determines the security amount of either DKK 30,000 or DKK 40,000 (in the area of the Maritime and Commercial Court). If it turns out that there are funds in the bankruptcy estate to cover the costs of handling the estate, the security will be refunded in whole or in part.
If you are an employee and have a salary claim against a company where you are/have been employed, you do not have to provide security for the handling of the estate.
Our lawyers have extensive experience as trustees in bankrupt estates, and are members of Gældsstyrelsens panel of trustees and the association of Danish Insolvency Lawyers (Danske Insolvensadvokater).
Contact us via the contact form if you need help from our bankruptcy specialists, and we will get back to you quickly for a non-binding discussion about your options.