Preparation of the restructuring plan

Preparation of the restructuring plan:

  • We prepare the restructuring plan;
  • We help the company plan its operations;
  • We consult the company on optimization of its operation expenses and model the possible restructuring scenarios;
  • We participate in negotiations with the main creditors with the purpose to ensure their support during the approval of the restructuring plan;
  • We cooperate with state enterprises (e.g., State Social Insurance Fund Board, State Tax Inspectorate) for the purposes of ensuring the all the required information is presented properly in the restructuring plan so that the respective institutions make favorable decisions concerning the approval of the restructuring plan.

The vast experience in the field allows us modeling the goals set forth in the restructuring plan and their practical implementation to the maximum.

The restructuring plan has to be prepared, approved and submitted to the court within 6 months. The period for the approval of the plan may be extended up to one month by the court. The plan must be submitted to the restructuring administrator within 5 months.

Then, relative information is presented to the creditors. They are introduced to the restructuring plan and the creditor meeting for the approval of the plan is held. The creditor meeting must be held within 10 days till the deadline for the submission of the restructuring plan to the court. No less than two thirds of the creditors (i.e. 66.66%) must vote FOR for the restructuring plan to be approved. The voting right at the meeting is granted to the creditors who have submitted financial claims which have been approved by the court. The restructuring plan becomes legally binding after it is approved by the court.