Restructuring & Insolvency

The firm has played a major role in the legal processes linked to bankruptcies of 3 Baltic banks with assets of over EUR 1.2 billion.

TGS Baltic consults clients who find themselves in a critical situation. Insolvency can be an especially difficult and complex process, requiring sharp decisions irrespective of whether the consultation is necessary for a client in a relation with an insolvent company, or a client, seeking to avoid the insolvency himself or to effectively control such situation.

Our team consists of lawyers with extensive knowledge in company, commercial, banking and financial law, dispute resolution, financial crime as well as international aspects of insolvency. This practice group is involved in managing large-scale bankruptcy processes, including bankruptcies of financial institutions, large construction companies, and information technology companies. We help insolvent or bankrupt company’s creditors protect their rights and defend rights of other persons concerned in relations with insolvent and bankrupt companies.

We cooperate with company management and financial consultants, bankruptcy trustees, creditors and shareholders. While participating in the process of legislation and having an extensive knowledge of the legal regulation as well as practical aspects of handling the critical situations, we can offer our clients innovative solutions.

  • The firm “impresses sources with its full-service capability and strength in multi-jurisdictional deals [as well as] flexible negotiators who make the process smooth and efficient.” (Chambers Europe)
  • “The lawyers in the team are important figures for restructuring complicated real estate finance structures.” (Legal 500)
  • Completed the EUR 800 million asset split of Ukio Bankas in 2013, a first-of-its-kind transaction in CEE.
  • Handled contractual work in the sale of insolvent Latvijas Krajbanka's EUR 263 million loan portfolio.

Key contacts

WE PROVIDE SERVICES IN:

  • Handling bankruptcy procedures, consulting bankruptcy trustees and creditors of insolvent companies on national and cross-border bankruptcy issues
  • Protecting creditor claims in bankruptcy or restructuring, consulting on possible solutions in relations with an insolvent company
  • Consulting company‘s shareholders and management on liability issues
  • Consulting lenders on liability issues
  • Drafting all necessary documents for bankruptcy and restructuring procedures
  • Acquiring assets of entities in restructuring and bankruptcy
  • Due diligence and contesting the company‘s contracts
  • Moratoriums
  • Representation at the creditor committees and meetings
  • Asset freeze
  • Peaceful settlement agreements in bankruptcy
  • Consulting debtors on handling the actual insolvency, complex loan restructurings, business turnarounds, cramdowns
  • Sale/purchase of distressed assets, debt and portfolios
  • Purchase/sale of bankruptcy claims
  • Municipal bankruptcy/insolvency
  • Bankruptcy/insolvency of a natural person