Trading procedures and sale of assets in bankruptcy
At the liquidation stage of bankruptcy, the most significant procedure is sale of debtor’s property at auction. The main goal is to maximize replenishment of bankruptcy assets for settlements with creditors.
Sale of the bankrupt’s property allows to replenish the bankruptcy estate in short time and is accompanied by discounting and attracting a large scope of potential buyers. Various property is put up for auction: from low cost to luxury cars, from small apartments to gorgeous huge mansions, from small claims to multibillion-dollar bonds.
In this regard, investments in assets sold at auction have become quite popular among both enthusiasts and professional investors.
The auction itself is held in several stages, which are strictly regulated. First, a message about the property being sold with its identifying features is published, so that everyone who wants to get acquainted with this property has time and opportunity to do so. After the deadline for reviewing and submitting applications, auction is held in electronic form, the results of which are used by auction organizer to form a protocol. If the winner is not identified, repeated auction is held, and if it does not give a result – then Dutch auction is held.
VALEN specialists are highly experienced in the field of supporting debtor’s property sale and will help to take all necessary steps to protect the interests of creditors and potential buyers:
- due diligence of acquired property
- risk assessment
- comprehensive support of procedure of purchasing property at auction
- verification and conclusion of contract based on the results of auction, support of further actions regarding the investment object
- effective challenging of auction organizer’s actions or omissions
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Foreign Languages: Croatian, English
5+ years as a head of Accounting and Finance in European Companies
2+ years as a SAP consultant for companies in Germany (Munich) and UAE (Dubai)
Partner at VALENOur specialists
Law degree in the Russian Federation
Studied at the University of Passau, Germany
Foreign Languages: English, German
Since 2007 a lawyer in Beiten Burkhardt lawfirm
Since 2012 founder and managing partner at VALENOur specialists
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