Experts expect a growing interest in restructuring proceedings. The restructuring law has worked, experts assess one year after its implementation.
– says Małgorzata Anisimowicz, restructuring advisor and president of PMR Restructuring.
She estimates that this number of open restructuring proceedings compared to the 58 resolution proceedings between 2003 and 15 marks a downright revolutionary change. At the same time, differences can be seen in the amount of claims recovered. Previously, it was rare to satisfy creditors in 60-70 per cent in bankruptcy proceedings. Nowadays, entrepreneurs who submit proposals for arrangement often indicate a reduction of 30-40 per cent in their liabilities.
The restructuring law created companies have several ways to get out of a serious crisis, These are four types of proceedings: on the approval of the arrangement, accelerated arrangement, arrangement and remedial proceedings. Małgorzata Anisimowicz also reminds that restructuring provisions take precedence over bankruptcy provisions. In the case of two competing applications filed with the court, it should first consider the one for opening restructuring proceedings.
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