In whose interests does the trustee act

The trustee is a special type of manager who “organizes” the economic and financial area of the bankrupt debtor, taking into account the optimal satisfaction of creditors. As a body acting for the highest possible satisfaction of creditors, it tries to support the debtor's enterprise, to the extent that economic factors allow it. Creditors and the bankrupt are therefore beneficiaries of the trustee's services, but this is not the same as fulfilling their will.

Therefore, it cannot be stated that the trustee is acting in the particular interest of a specific entity. He is a representative of many interest groups, including the court, the debtor, creditors, state institutions such as ZUS or the tax office. His main goal is to minimize the consequences bankruptcy of companies, including job protection. Therefore, it also has an impact on the condition of markets and the national economy.

The problem of determining the overriding interest of the actions of trustees may be solved by the New Restructuring Law, which will be in force from 1 January 2016. According to the new law, the tasks of trustees, and more precisely restructuring advisers, expanded to include assistance in obtaining financing, determining the direction of strategic changes, cost restructuring and negotiations with creditors. The profession of a restructuring advisor will be a set of interdisciplinary competences related to knowledge and experience in all aspects of the enterprise's functioning, in particular the economic and legal environment.

The Act will therefore be more beneficial for debtors and creditors, because it is their protection that will become a priority. What is more, from the new year, creditors and debtors will be able to choose a restructuring advisor - until now, the trustee was delegated by the court. This is a revolutionary change that should have an impact on the effectiveness of the proceedings conducted. The new order favors the development of competition and the professionalization of the profession. The best in the industry, who will help companies most effectively, will lead the way.

PMR team

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