Insolvency matters require strict attention to documents, deadlines and the stage of the procedure. A creditor’s position depends on the claim, the evidence supporting it and how the claim is reflected in the table.
In insolvency, the claim should be supported by documents and checked against the procedural stage of the file.
When legal assistance may be useful
- a creditor needs to review documents before filing a claim
- a statement of claim has been filed or needs legal review
- the preliminary table or final table raises concerns
- an objection to the table may need analysis
- a debt is connected to an insolvency procedure
- communications with the insolvency practitioner need to be organised
What is checked
The review focuses on the amount claimed, the documents supporting it and the stage of the insolvency procedure.
- contracts, invoices and proof of performance
- the amount claimed and any interest or penalties
- proof of filing or communication with the practitioner
- the preliminary or final table of claims
- deadlines and procedural communications
- documents showing payments, set-off or guarantees
Possible directions for review
The direction depends on whether the matter concerns preparing a claim, reviewing the table, challenging a classification or clarifying the evidence supporting the debt.
- reviewing a statement of claim before filing
- organising documents supporting the claim
- analysing the preliminary or final table of claims
- reviewing possible objections related to the table
- communicating with the insolvency practitioner after the documents are reviewed
- assessing recovery options connected to the insolvency procedure
Documents useful for the first review
- contracts, invoices and delivery documents
- proof of payment or non-payment
- statement of claim and proof of filing
- communications from the insolvency practitioner
- preliminary or final table of claims
- guarantee documents or security documents, if any
- court or insolvency file documents already received
Risks to keep in mind
Risks usually concern deadlines, incomplete evidence or a claim that is not properly reflected in the insolvency documents.
- claim documents are incomplete
- deadlines are not checked from the relevant communication
- the amount is not supported by a clear calculation
- the table of claims is reviewed too late
- communications with the practitioner are not preserved
- security or guarantee documents are not identified
How the collaboration starts
The collaboration starts with the documents supporting the claim, the procedural communications and the stage of the insolvency file. The first review clarifies the amount, the evidence and the procedural issue.