For a successful debt restructuring a concordant will of the creditor and the debtor is highly relevant

During the last month KLOTINI SERGIS has successfully represented the interests of several clients in a major debt restructuring with one of the largest Scandinavian banks in Latvia. Such debt restructuring, in relation to several legal proceedings, provides a great opportunity for businesses facing financial difficulties to continue their business activities and successfully survive economically difficult times. It is important to note that for the creditor and the debtor, when agreeing on a common restructuring model and solution in a pursuit of their individual objectives, the parties’ concordant will and interest to settle their contractual relationships in a proper manner, preserving trust and confidentiality, play a significant role.

Legal assistance to the clients in regard to debt restructuring was provided by the attorney at law PETERIS SERGIS.