Restructuring & Insolvency
We advise companies, directors, shareholders and creditors across the full spectrum of corporate distress, from early-stage restructuring intended to keep a viable business going, through to formal insolvency and winding-up.
Restructuring and rescue
Where a business is viable but under financial pressure, the aim is to preserve value. We advise on debt restructuring and renegotiation, balance-sheet reorganisation, schemes of arrangement, and corporate-rescue procedures available under Cyprus law (including examinership-type protection).
Insolvency and winding-up
Where rescue is not possible, we guide stakeholders through the insolvency process. Under Cyprus law a company may be wound up by:
- compulsory (involuntary) winding-up by its creditors;
- members’ voluntary winding-up;
- voluntary winding-up under the supervision of the Court.
A company may also be struck off the Register of Companies, and we advise on administrative restoration / reinstatement where a struck-off company needs to be brought back.
How we help with a winding-up
- practical steps to prepare the company for liquidation;
- convening the EGM and passing the necessary resolutions;
- documentation for the appointment of liquidators;
- gathering in assets and agreeing/settling creditors’ claims;
- distributing surplus assets to members in line with their entitlements;
- supporting the company’s tax advisors in obtaining final tax clearance.