Insolvency & Bankruptcy matters
WizKid provides businesses with specialized services related to insolvency and bankruptcy matters, aligning with the provisions of the Insolvency and Bankruptcy Code. Our comprehensive approach is designed to guide businesses through the complexities of financial distress, offering strategic solutions for debt resolution, restructuring, and compliance with regulatory frameworks.
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Insolvency Resolution and Advisory
Financial Health Assessment: WizKid initiates the process with a thorough assessment of the business's financial health. This involves analyzing debt structures, cash flow projections, and overall solvency to determine the most suitable resolution strategy.
Insolvency Resolution Plans: Our experts collaborate with businesses to craft effective insolvency resolution plans, ensuring alignment with the legal requirements of the Insolvency and Bankruptcy Code. This involves formulating strategies for debt restructuring, asset monetization, or potential business sales.
Creditor Rights Protection
Negotiation with Creditors: WizKid acts as a mediator between businesses and creditors, facilitating negotiations to protect creditor rights. We work towards achieving mutually agreeable solutions, whether through debt restructuring, repayment plans, or other arrangements.
Debt Recovery Strategies: In cases where debt recovery is essential, WizKid formulates strategies to maximize creditor recoveries, including legal actions if necessary. This ensures that businesses navigate insolvency proceedings while safeguarding the interests of all stakeholders.
Insolvency Litigation Support
Legal Representation: WizKid provides robust legal representation during insolvency proceedings, including appearances before the National Company Law Tribunal (NCLT). Our legal experts ensure that businesses are effectively represented in all legal matters related to insolvency, adhering to the procedural requirements of the Insolvency and Bankruptcy Code.
Dispute Resolution: In the event of disputes arising during insolvency proceedings, WizKid offers dispute resolution services, aiming for amicable settlements or advocating for businesses in litigation, if required.
Corporate Restructuring
Debt Restructuring Plans: WizKid assists businesses in formulating and implementing debt restructuring plans, optimizing capital structures, and negotiating with creditors for favorable terms.
Operational Restructuring: Our services extend beyond financial aspects to operational restructuring, including guidance on business operations, cost-cutting measures, and strategic realignment to enhance overall business viability.
Cross-Border Insolvency Assistance
International Debt Resolution: WizKid provides expertise in handling cross-border insolvency matters, ensuring businesses with international operations navigate the complexities of global debt resolution and comply with applicable regulations.
Coordination with Global Stakeholders: Our team facilitates coordination with international creditors and stakeholders, ensuring a cohesive approach to cross-border insolvency challenges.
NPA Management Expertise and SARFAESI Act
WizKid offers specialized services in Non-Performing Asset (NPA) management, leveraging the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act. Our dedicated team provides strategic solutions to financial institutions and businesses, aiming to optimize recovery, mitigate risks, and foster financial health.
1. NPA Analysis and Assessment:
WizKid initiates the process with a comprehensive analysis of NPAs, evaluating the financial health of distressed assets. Our experts conduct thorough assessments to determine the most effective recovery strategies.
2. SARFAESI Compliance:
Our team ensures strict adherence to the SARFAESI Act's legal framework. We guide financial institutions and businesses through the compliance process, facilitating the enforcement of security interests and the realization of assets.
3. Asset Reconstruction Planning:
Crafting effective plans for asset reconstruction is a cornerstone of our services. WizKid collaborates with clients to develop bespoke strategies, including debt restructuring, asset sales, and other measures to optimize recovery outcomes.
4. Auction and Sale Support:
WizKid assists in organizing and facilitating auctions and sales of seized assets. Our team manages the entire process, ensuring compliance with SARFAESI Act guidelines and maximizing returns for lenders.
5. Negotiation and Settlement Discussions:
Recognizing the value of consensual settlements, we actively engage in negotiations with defaulting parties. WizKid explores opportunities for settlements, striving to achieve amicable resolutions that are mutually beneficial.
6. Legal Due Diligence:
Prior to enforcement actions, our experts conduct legal due diligence. This involves a comprehensive review of legal aspects, identifying potential challenges, and ensuring that enforcement actions align with legal requirements.
7. Litigation Support:
In cases requiring legal intervention, WizKid provides robust litigation support. Our legal experts represent clients in legal proceedings, ensuring compliance with the SARFAESI Act and advocating for the swift resolution of disputes.
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