- The collaboration with competent and good insolvency lawyers is a crucial part of EWEU. Typically, we have the same number of references to lawyers as we do to voluntary advisers.
- Only use specialized lawyers as it is only them that has the necessary overview. Especially in the beginning/clarification of a plan of action that involves bankruptcy, it is crucial that we are dealing with a competent lawyer. Later in the course most of the work will be done by a graduate in law who assists a lawyer (trainee lawyer) under the experienced lawyer’s management and responsibility.
- You can find the highly-specialized lawyer in departments of bigger law firms, but it is also possible to find them in smaller firms, where the lawyer has his/her experience and knowledge from a more specialized department in a bigger firm.
- If one chooses a cheap (and probably not very good) lawyer, there is a risk that the golden opportunities are overlooked. And the money that might have been saved ends up at creditors and they owner rarely gets any benefit from this.
- The lawyers’ motivation for collaborating with EW is primarily:
Those incidents that ends with bankruptcy, the lawyer is most likely becoming the trustee in bankruptcy. Therefore, the lawyer has an obvious interest in being a collaborator with EW.
The companies that EW brings, are most often in the earlier stages of crisis than they are when/if the companies themselves contacts a lawyer.
The EW consultant’s knowledge about insolvency, has the effect that the owner is already prepared for the meeting with the lawyer.
The EW consultant most often ensures that the most necessary information is provided ahead of the meeting with the lawyer.
A meeting with a lawyer that concludes that a bankruptcy is unavoidable, is a shocking experience for the owner of the company and the owner will most likely not remember anything. The EW consultant is present at the meeting and act as a ‘witness’ for the company owner.
- Supplementary advices regarding the collaboration with the lawyer:
There needs to be reasonable geographical spreading. However, it is important to be aware of the fact that many owners do not wish to collaborate with a lawyer from their local area due to confidence and even a too close collaboration between the local lawyers, accountants and banks.
The lawyer must deliver a report immediately after the meeting. That is why a trainee lawyer is most likely to participate the meeting as well.
Use the concerned lawyer to such an extent that EW is an import collaborator. This ensures the standard of service, among these are willingness to a quick reaction when necessary.
Do not FYLD MERE HOS DEN ENKELTE ADVOKAT END AT HAN IKKE TITLER if you chose to replace him.
Only use lawyers with right decent qualities and a high ethical standard. A lawyer can get away with declaring a company bankrupt even if it is not.
- The character of the collaboration:
We do not see our lawyers as a network because we have not yet held any events for them as a group.
We have an individual collaboration with the individual lawyer.
We use some of them as presenters in relation to educational contexts
We do not pay the lawyers. They get their money from cases that ends up on their desks, either in reconstruction or bankruptcy.
If the lawyer, after the first meeting of planning, becomes the trustee in bankruptcy, it is important to be aware of the fact that he/she from now on needs to ensure the interest of the creditors. This is something many owners are not aware of. It is important to underline this to the owners and therefore it is important that EW do not let go of the owner before the bankruptcy is finished and a potential debt-relief-order is obtained.