Never an easy situation to deal with, an ability
to pay one's debts when they fall due may lead to bankruptcy in
the case of individuals and in the case of companies to liquidation.
The normal procedure is for a liquidation committee
to be appointed to gather and dispose of the assets of the insolvent
and to pay the creditors. In China, the relevant government authorities
must approve liquidation of an enterprise and certain procedures
must be followed.
LehmanBrown is able to offer advice on recovery
plans as well on the more complex side of the liquidation procedure.
In the current business environment, corporate restructuring and
turnaround processes can often be closely linked to insolvency,
which sometimes uncovers possibilities for saving the business.
LehmanBrown has a thorough understanding of bankruptcy
and liquidation procedures and the experience required for seeking
out alternative financial sources. We are also able to offer proposals
for re-organising debts and helping companies get back on track
financially.
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