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All you need to know about Insolvency services provided at Libord

All you need to know about Insolvency services provided at Libord


Category : Knowledge Center

Libord Group offers different support services in efficiently handling various processes, such as the Corporate Insolvency Resolution Process, Liquidation Process, Fresh Start Process, Insolvency Resolution Process and bankruptcy process for individuals, proprietorship concerns, and partnership firms. These support services include:

Claim Verification: receiving, and verifying claims from creditors, employees, and other parties involved in the insolvency process.

Taking Over Control and Custody of Corporate Debtor: We take control of the assets and operations of the corporate debtor, ensuring their protection and preventing unauthorized actions. We also maintain inventories and supervise the operations of the corporate debtor.

Corporate Insolvency Resolution Process: We conducts various functions related to the insolvency resolution process. We communicate with stakeholders, coordinate with professionals and experts appointed for the process, and assist in the preparation and evaluation of resolution plans.

Legal: We provide legal support to the Insolvency Professionals by offering guidance, reviewing legal documents, drafting reports, and representing them in legal proceedings.

Finance and Accounts: We analyse the financial position of the corporate debtor, maintains accounts, and coordinates with auditors and other financial professionals.

Resolution Plan Facilitator: We focus on finding potential resolution applicants who can offer value to stakeholders and keep the corporate debtor as a going concern. We gather relevant data, prepare profiles, and facilitate visits and interactions with prospective resolution applicants.

Liquidation Process: We manage the liquidation process and is responsible for communication with stakeholders, appointment of professionals, convening meetings, and conducting the sale of assets.

Asset Sale: We handle the sale of assets during the liquidation process, including advertising, due diligence, and coordination with potential buyers.

These services provide comprehensive support to Insolvency Professionals for ensuring the smooth handling of insolvency and bankruptcy cases.

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