How can I enforce my claims against an insolvent company?
May 10, 2024 | 50,00 EUR | answered by Piotr Gehrmann
Dear lawyers,
I am Elvira Kraftner and currently facing a tricky situation. Some time ago, I provided a service to a company for which I have not yet received payment. Now, this company has filed for bankruptcy and I am wondering how I can still assert my claims.
The situation is as follows: I provided my service on time and sent an invoice to the company. After several requests for payment, the company then filed for bankruptcy. I am now faced with the challenge of how to still get my money, as the company is obviously no longer solvent.
My concerns are that I have provided my work and now I am being deprived of my rightful payment. I feel unfairly treated and do not know how to proceed to enforce my claims.
My question to you is: How can I assert my claims against a bankrupt company? Are there ways to still receive my money despite bankruptcy? What steps should I take next to enforce my rights?
I thank you in advance for your help and support in this difficult situation.
Sincerely,
Elvira Kraftner
Dear Mrs. Kraftner,
Thank you for your inquiry regarding your outstanding claims against an insolvent company. It is understandable that you are concerned about your hard-earned money and are looking for ways to still assert your claims. In such a situation, it is important that you educate yourself about your rights and options in order to choose the best course of action.
When a company files for insolvency, it means that it is unable to pay its debts anymore. In an insolvency proceeding, the company's creditors are divided into different groups depending on the nature of their claims. As a service provider, you are likely to be an unsecured creditor, as you do not have any special securities such as a guarantee or a lien.
In an insolvency proceeding, unsecured creditors typically have a lower priority in the distribution of the insolvency estate compared to secured creditors. However, there are ways in which you can still assert your claims. First, you should register as a creditor with the company's insolvency administrator and file your outstanding claims. The insolvency administrator will then review whether and to what extent your claims can be considered.
It is also advisable to document your claims in writing and gather all relevant documents such as the service contract, invoices, and correspondence with the company. These documents can serve as evidence that you have provided your service and that outstanding payments are still due.
Furthermore, you can educate yourself about your rights as a creditor in the insolvency proceeding and consider legal steps to enforce your claims if necessary. An experienced attorney can support you in this process and help you with the optimal course of action.
Overall, it is important that you stay proactive and register your claims in the insolvency proceeding in order to have a chance of receiving your money. I hope that this information is helpful to you and wish you success in asserting your claims.
Sincerely,
Piotr Gehrmann
