Liquidation of a residential real estate developer with bankruptcy risks of 60 million rubles

Due to low sales of apartments in new buildings, the company faced bankruptcy risks. The company was successfully liquidated without bankruptcy proceedings.

Client:

Residential real estate developer.

Situation:

Poor sales of apartments in the constructed residential complex. The company needed to be liquidated without going through bankruptcy and to adjust relations with creditors by transferring the remaining apartments to them.

Solution:

The optimal solution in this situation was to convince the creditors that bankruptcy proceedings would not benefit anyone. Our experts negotiated with the creditors, explained the prospects of bankruptcy procedures to them, and convinced them to accept the property as the payment for debts.

Result:

The company was successfully liquidated without going through bankruptcy; only 2 apartments with an area of 180 sqm were transferred to the creditors.