The team of the law firm UNIONLEGAL, led by managing partner Vakhtang Javakhia, has completed work on a complex insolvency dispute, where it represented the interests of a large business entity.
The complexity of the case was driven by the circumstance that the enterprise had violated the terms of the rehabilitation plan. In such a situation, the current legislation directly provides for the possibility of terminating rehabilitation and opening bankruptcy proceedings due to a violation of the plan, which the creditors were demanding before the court. This risk threatened the company's existence and hundreds of jobs.
A clear financial-economic justification for the company's viability and revenue growth was presented at the trial. The court shared the presented arguments and rendered a decision according to which, despite the possibility of bankruptcy provided by law, the creditors' request was not satisfied, and the rehabilitation regime was maintained for the enterprise.
This precedent is important proof that a formal violation of the plan does not automatically mean the liquidation of the business. A properly structured and legally sound position allowed the court to prioritize saving the business and maintaining the rehabilitation regime in a crisis situation.
