LEADELL helps to fight debtor’s attempt to conceal its assets in a debt recovery case
The law office has successfully represented interests of its client in a dispute over a debtor attempt to conceal its assets from debt collection. According to the information furnished by the client, during debt collection the debtor attempted to conceal company capital shares owned by him through disposing them to a family member.
After analyzing the circumstances of the case our law office succeeded to prove that the debtor had acted like this to conceal the company capital shares from debt collection.
The district court supported our view and declared the transaction of disposing capital shares void because the parties (the debtor and his family member) had transacted based on illegal purpose. At the same time the court decided to restitute the status of company shareholders as it was in the entries of commercial register before the disposal of capital shares. The outcome of this case greatly increases the client’s chances of successful debt recovery.
The client was represented by attorney at law Ilze Jankevica.