Insolvency issues have recently become quite topical because of the growing number of insolvent undertakings against the backdrop of the global financial and economic crisis. DOBREV & LYUTSKANOV Law Firm has for years specialised in the provision of legal services in insolvency procedures and provides legal representation and advice to Bulgarian and foreign natural and legal persons when they take part in such procedures.

DOBREV & LYUTSKANOV Law Firm consults insolvent undertakings and their creditors. Our legal services in this sphere include but are not limited to:

  • Preliminary analysis of the legal and financial conditions of debtors and preparation of specific proposals for further action;
  • Preparation of legal documents needed for the opening and proper conduct of insolvency procedures;
  • Legal representation in court proceedings, participation in court sessions, appeal against judgments, etc.;
  • Interaction with appointed receivers;
  • Undertaking of actions to secure recovery and to protect the interests of the client in his capacity of a creditor;
  • Claiming accounts receivable, opening of proceedings for cancellation of debtor’s actions and transactions which impair the interests of the creditors and participation in these proceedings;
  • Participation in negotiations on the settlement of the relations among the parties to the insolvency proceedings;
  • Consultancy on the drafting of a rehabilitation plan or allocation of the available assets;
  • Supervision of the implementation of the rehabilitation plan or the observance of the terms and conditions for the allocation of the available assets.


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