Get High Quality Bankruptcy Or Corporate Insolvency Searches Affordably
Creditor organizations and local governments receive advice, training, and support from our team of recovery and reorganization specialists on how to use our Bankruptcy and Corporate Insolvency Searches as a tool to collect payments owed by individuals. From out-of-court turnaround and workout services to formal restructuring or liquidation, NetworkBD assists distressed companies, creditors, lenders, and other stakeholders in evaluating financial and operational performance, assessing strategic choices, and executing those plans.
Individuals conduct bankruptcy searches. In Bangladesh, a bankruptcy search is typically conducted by someone who wants to determine whether or not they are otherwise bankrupt. The corporate insolvency search is used by companies interested in determining their liquidation status in Bangladesh. This search is being carried out by companies that have been ordered by the court to close down. In this context, “insolvency” refers to any business that is unable to meet its financial obligations to creditors.
Anyone can carry out both bankruptcy or corporate insolvency searches. This means that creditors, employers, investors, and even employees, if they so desire, can perform a search. Individuals and organizations can both do searches on themselves.
Our Trustworthy Approach for Bankruptcy Searches Services
1. Concentrate On The Numbers
We assist clients in maximizing their cash return, lowering servicing costs, and accelerating and maximizing dividend returns by conducting thorough Bankruptcy and Corporate Insolvency Searches investigations into the bankrupt’s affairs in order to successfully realize assets and reverse prior transactions, as well as conducting regular reviews of internal processes to ensure efficient and effective case progression and cost control for Grant Thornton and any third parties involved in cases.
2. Streamline operations
We assist clients in improving operational efficiencies, with a focus on IT investment to improve process efficiencies.
3. Portfolio Management & Management Information
We produce and supply management information throughout the process to assess portfolio performance and value. Aside from the creation of regular and client-specific MI and KPIs,
4. Dividend payment
In all circumstances where a dividend is expected, we will file all claims on behalf of the client at the correct value. All dividends received must be collected, verified, and forwarded to the client via BACs.
Our Expertise On Corporate Insolvency Searches
Local governments, financial services creditors, and utility companies are increasingly using insolvency proceedings to pursue individuals who have the income or assets to pay their creditors but refuse to do so. Where other attempts to elicit payment have failed, the effective and targeted use of bankruptcy proceedings has resulted in a significant improvement in recovery success for these creditors.
When a trustee is appointed to oversee a Bankruptcy and Corporate Insolvency Searches, many creditors participate actively in the selection of a trustee whose professionalism and skill they trust, as the trustee’s effectiveness is important to the maximization of asset realization and distribution.
Our team of professionals has earned a reputation for providing high-quality service while providing technical expertise, advice, and direction to guarantee insolvent estates are managed efficiently for Bankruptcy and Corporate Insolvency.
- Putting in place invoice cutoff procedures, as well as making recommendations for accounting system adjustments to account for pre- and post-petition liabilities
- Creating cash management systems to keep track of all post-filing payments
- Providing training on the Chapter 11 process to finance and operational leaders.
- External communications for suppliers, employees, and other stakeholders are being developed.
- Assisting with vendor negotiations and management
Cash flow monitoring and reporting
- Performing the necessary analysis to back up first-day moves
The creditor matrix is being created.
- Developing a framework for assessing executory contracts for inclusion in filings and analysis in preparation for eventual disposition
We Ensure Expert Bankruptcy Witness Services For Our Clients
In the fields of company appraisals, forensic accounting, litigation support, and expert witness evidence, NetworkBD assists stakeholders of distressed companies facing complicated issues. Our seasoned team of dedicated professionals allows us to provide a diversified and multi-disciplined team for any case, with specialists who have testified in state and federal courts on difficult business challenges.
Creditors’ committees, bondholders, debtors, secured lenders, trustees, and equity investors have all benefited from our services. Assisting with corporate reorganization efforts, monitoring and evaluating operations, valuing assets and assisting with divestiture considerations, pursuing avoidance actions, conducting improper transaction investigations, and administering post-confirmation trusts are all examples of this experience.
How Long Does Corporate Insolvency Last?
Bankruptcy and Corporate Insolvency often lasts a year. You’ll be ‘discharged’ from bankruptcy after this period, regardless of how much money you still owe.
If you cooperate fully with the Official Receiver, you may be released sooner. Bankruptcy can extend more than a year in some situations, especially if you’ve acted irresponsibly (for example, by refusing to cooperate).
FAQ For Bankruptcy and Corporate Insolvency Searches
1. What happens when a business declares bankruptcy?
When a company is declared insolvent, it is forced to liquidate. “There is a 270-day moratorium during which no proceedings can be initiated, but that does not mean they will not be bound by other laws.”
2. Can a business survive bankruptcy or corporate insolvency ?
3. How directors are personally liable for the company's debts?
4. How do I get myself out of debt?
5. What is the difference between insolvency and liquidation?
Insolvency is a financial “state of being” that occurs when a company is unable to pay its debts or has more liabilities than assets on its balance sheet, a situation known legally as “technical insolvency.” The legal end of a limited company is liquidation.
6. Will you be able to keep anything if you file for bankruptcy?
Debtors can claim certain necessary property as off-limits to creditors and the trustee under the Bankruptcy Code. The debtor’s “exempt property” is that property. The bankruptcy estate does not own exempt property. When you are debt-free, you are free to keep it after bankruptcy.