Faroe Law has experience of bankruptcy proceedings, from listed companies to minor, single proprietors.
One of our characteristics is that we aim to reconstruct the failing company. Faroe Law has the necessary resources and expertise to organise cost operations, typically by suspension of payments, so that a total closing down is avoided and the sound parts of the are maintained for continuous operation and sale. In this way the values of the company are maintained to the advantage of the creditors and staff interests are taken into consideration
Furthermore, Faroe Law assists creditors in insolvent estates, for example through participation in creditors’ committees, by conducting avoidance cases as well as by advising on securing creditor claims.