When a company's financial collapse transcends national borders, it devolves into a legal black hole where assets vanish and creditors' rights are scattered in the ensuing chaos. This is not a standard bankruptcy; it is a race against time where debtors attempt to hide assets in various jurisdictions while courts in different countries initiate parallel, uncoordinated proceedings. In this turmoil, a liquidator from one country is powerless to act in another, leading to the complete destruction of value. The Legal Sandbox Georgia team operates as the central strategic command in this chaotic situation, providing a coordinated, global approach and transforming a multi-jurisdictional crisis into an effective asset recovery operation.
Our experience in cross-border insolvency ensures a comprehensive and strategic approach to crisis management. When a foreign-appointed liquidator needs to act in Georgia, we manage the process in Georgian courts under the Law on Insolvency Proceedings to recognize their authority and empower them with full legal standing. Our primary objective is asset recovery, and we leverage our international network of partners to trace and freeze assets hidden overseas. When insolvency proceedings are active in several countries simultaneously, we provide strategic coordination between the various liquidators and courts. This prevents chaos and ensures the implementation of a single, coherent plan. Our service is about imposing order on chaos, ensuring geographical borders do not obstruct the course of justice.