Insolvency & Restructuring
Decisive Counsel in Distressed Situations
Insolvency demands speed, precision and control over outcomes. We advise across the full spectrum of distressed scenarios—from early-stage financial difficulty to formal insolvency proceedings—often involving:
multiple creditor classes
contested claims
cross-border elements
parallel litigation or arbitration
Our approach is strategic and outcome-driven, with a focus on preserving value and managing risk.
Insolvency and restructuring proceedings in Croatia are governed by a complex legal framework combining EU law and key national statutes, including the Insolvency Act, Companies Act and Financial Operations and Pre-Bankruptcy Settlement Act, alongside sector-specific regulations applicable to certain entities such as credit institutions and systemically important companies. The Croatian system provides for pre-bankruptcy proceedings, liquidation and bankruptcy, while out-of-court operational and financial restructuring remains less formally regulated outside of large-scale cases. In this environment, timely legal advice is critical for management, shareholders and creditors navigating financial distress, protecting their rights and maximising recovery in insolvency scenarios.
We act for creditors, companies and stakeholders in high-stakes restructuring and insolvency scenarios.
-
Negotiation with creditors and stakeholder groups
Structuring of settlement agreements and standstill arrangements
Pre-insolvency strategy and risk mitigation
-
Representation in bankruptcy and pre-bankruptcy proceedings
Filing and contesting claims
Acting for creditors, debtors and insolvency practitioners
Protection of rights within insolvency estates
-
Voluntary and compulsory liquidation of companies
Advisory to shareholders and directors on winding-up procedures
Asset realisation and distribution strategies
Management of creditor claims and settlement of liabilities
Cross-border aspects of corporate dissolution
-
Strategic advice to secured and unsecured creditors
Recovery and enforcement strategies
Participation in creditors’ committees
Cross-border debt recovery
Need help restructuring a company or securing your claims or assets?
Ljiljana Nogolica has significant experience in restructuring, liquidation and insolvency proceedings of various complexity - from dissolving regular companies to spearheading liquidation procedures of financial institutions.
Our experience in insolvency proceedings ensures your interests will be protected.