Bankruptcy and Insolvency Proceedings for Companies and Individuals

We are lawyers experts in bankruptcy and insolvency proceedings. We explain you what are the different services we are offering

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Companies and individuals have the mechanism of the insolvency proceedings, bankruptcy, to find a solution if they are in an economic crisis. Requirement: not to have enough liquidity to meet their obligations, i.e. absence of solvency.

There are different figures within this branch of the legal system. These different figures are the services that we can offer in IURIUM CONSULTA, as a law firm specialized in Insolvency and Bankruptcy Law

Companies insolvency proceeding


In this case, the head of the company starts the insolvency proceedings because he has information that the bankruptcy of the company is imminent.

If you know about your company's insolvency, contact with IURIUM CONSULTA and we will advise you asexperts in Insolvency and Bankruptcy Law.


The partners or creditors of the company apply for the insolvency proceeding and the judge deals with it.

If your company's partners or creditors have filed for insolvency proceedings, contact with IURIUM CONSULTA and we will advise you as experts in Insolvency and Bankruptcy Law .

Natural Person's insolvency proceedings / The 2nd chance mechanism

Private citizens and the self-employed could adhere to the second chance mechanism. This allows them to make a second start.

  • It must be demonstrated that you do not have sufficient assets to satisfy your debts or that the assets have already been liquidated.
  • The total obligation of the debts cannot exceed 5 million euros.
  • The debtor's good will

If you find yourself in a situation where you can't make your payments, contact with IURIUM CONSULTA and we will advise you on how you can take advantage of the 2nd Chance Mechanism.

Out-of-Court Payment Agreement

A debtor who is a natural person and who is in a state of insolvency and who expects to be unable to fulfil his obligations regularly may initiate proceedings for an out-of-court settlement with his creditors as long as the initial estimate of the liability does not exceed EUR 5 million. In the case of a debtor, a natural person who is an entrepreneur, the corresponding balance sheet shall be provided.

The same agreement may also be requested by any legal companies, whether or not they are a capital companies, as long as it satisfies the same conditions.

If you are in a situation of Insolvency, it does not matter if you are an individual or a company, as long as your debts do not exceed five million euros, contact with IURIUM CONSULTA to propose an Out-of-Court Payment Agreement with your creditors.

Insolvency Agreement

In insolvency proceedings, the agreement is the legal transaction between the person who has filed for insolvency and the unsecured creditors. The agreement is approved by the insolvency judge. The agreement aim to satisfy creditors by debt removal or debt moratoriums , alternative or additional proposals for all or some of the creditors or classes of creditors, with the exception of public creditors.

If you face the need to file an agreement contact with IURIUM CONSULTA and we will advise you.

Unsatisfied Liability Exemption Benefit.

It happens when an out-of-court agreement is not reached or when an agreement is not approved within the insolvency proceedings. In these cases, the benefit regulated in Article 178 of the Insolvency Law intervenes: it is called Unsatisfied Liability Exemption Benefit. This is an exception to the principle that debts are not extinguished.

The request for the Unsatisfied Liability Exemption Benefit must be made in writing and it would be signed by a lawyer before the same judge who is hearing the competition, at the appropriate procedural time, and it must justify compliance with all the requirements of the law.

If you have not achieved an out-of-court agreement or your agreement has not been approved, and you can take advantage of the Unsatisfied Liability Exemption Benefit, contact with IURIUM CONSULTA and we will advise you.