Debt collection and settlement activities require lawyers to have not only skills and expertise but also sensitivity, flexibility and in-depth understanding of business practices. In recent years, SMiC has been very successful in helping many international and local enterprises effectively collect and settle million-USD debts.
Our consultancy services in this area include:
- Reviewing records and determining legal basis for debt collection activities;
- Investigating (if required and possible) the current and potential debt-repayment capability of debtors to determine the ability and strategy to collect debts;
- Advising and representing clients to meet and negotiate with creditors/debtors to handle debts;
- Proposing alternative or supplementing solutions to debt collection and settlement;
- Drafting requests, new agreements (debentures, repayment plan, agreements on taking over properties for securing repayment) upon clients’ request;
- Representing and/or joining clients in the litigation/ arbitration process for debt collection;
- Representing and/or joining clients in the mandatory enforcement process of the court/arbitrators’ decision.