Insolvency

The insolvency team has wide experience safeguarding the creditor's legal and commercial interests and optimizing the lender's position. Our long-term experience administering bankruptcy estates has given us in-depth insight into the pitfalls facing creditors and a solid network with other players within the insolvency area.

In connection with loan establishment or conclusion of supply agreements, we advise on legal risk prevention and assist with the establishment of security. In case of non-performing loans, we advise on solutions providing the best cover possible for the creditor and ensure that the creditor has proper influence on the insolvency proceedings. It is often possible to optimize a distressed company's values by an out-of-court arrangement to the advantage of both the creditor and the company. 

We assist with:

• Provision of security
• Optimization of non-performing loans
• Out-of-court arrangements
• Realisation and enforcement of security
• Establishment of repayment schemes
• Conversion of financing
• Filing of bankruptcy petitions
• Representation in creditors' committees
• Assessment and handling of avoidance claims
• Assessment of claims for damages in relation to creditor losses
• Litigation

Horten has many years' experience advising distressed companies and handling the various strategic and corporate considerations connected with restructuring. We advise the management of the distressed company, its creditors and other players on how best to navigate before, during and after a restructuring. We have wide experience within formal restructuring acting as restructuring administrators appointed by the bankruptcy court. 

We assist with:

• Identification of the company's financial situation
• Managerial liability
• Analysis of the company's possibilities, threats and challenges
• The relationship with the company's employees
• Preparation and implementation of restructuring models
• Negotiations with the company's principal creditors, including public authorities and banks
• Implementation of formal restructuring procedures

We have wide experience administering bankruptcy estates. One of the team's partners is appointed liquidator with the bankruptcy division of the Maritime and Commercial Court. We ensure an efficient and swift estate administration and regular information to the creditors on the status and dividend prospects. On closing and dissolution of the estate, all creditors receive a detailed report on the estate administration.

We are also often appointed liquidators by the bankruptcy court in case of compulsory dissolution. We clarify the reason for the compulsory dissolution as soon as possible, including whether any criminal offences have been committed. If it is not possible to restore the company or dissolve it by solvent liquidation, we propose dissolution via bankruptcy proceedings.

Horten has many years' experience as debt collection lawyers. We ensure efficient legal debt recovery adapted to the wishes, needs and possibilities of the individual company and tailored to each situation or aimed at continued cooperation.

We assist with:

• Overdue invoices in trading and consumer relationships
• Defaulted mortgage loans
• Defaulted bank loans
• Defaulted chattel mortgages or mortgages on land
• Non-performed lease, leasing and purchase agreements
• Collection of property tax arrears

We also have wide experience educating the company's own employees in efficient credit management. Our collection seminars are directed towards the key employees in the company responsible for receivables management and collection. The seminars explain relevant statutory provisions and provide specialised advice on e.g.:

• Review of the company's paperwork and documents
• Interest and fees
• Credit rating (client data)
• Conclusion and maintenance of agreements
• Implementation of efficient dunning procedures

Horten's forced sales team includes competent and experienced paralegals having worked with forced sales for more than 25 years. We have carried out forced sales for public authorities and collected property taxes for many years and have therefore worked within the forced sales area also in periods of rapid economic expansion. 

We assist with:

• Filing applications for forced sale
• Being applicants of forced sales
• Assisting mortgagees attending a forced sale
• Representing prospective buyers wishing to place bids at a forced sale