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Under the hammer via the internet

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A new portal on which bailiffs' e-auctions will be available will soon be launched. According to forecasts, this may help to satisfy creditors from part of the debtors' assets more often.

The final stage of work on electronic bailiff auctions is underway. Among other things, tests of the verification and security functions for sensitive data are being carried out on the future portal. According to the predictions of the National Council of Bailiffs (NCB), conducting e-auctions should be possible from the beginning of next year.

The Council predicts that the portal, by making auctions more accessible, will affect prices. By monetising a debtor's assets at a higher price, bailiffs will in many situations not have to seize all of the property, but only the part that will satisfy claims. This means that creditors will satisfy their claims to a greater extent and much more often in full.

- The new solution will be more convenient for the potential buyer, who will be able to participate in an unlimited number of auctions without leaving home," says Monika Janus, spokesperson of the NCR. As she explains, during the bidding process, the ICT system will disclose: the highest current price and the unique identifier of the participant offering it, as well as the time remaining to complete the sale operation. A different sequence number will be assigned to each procedure. The personal data of the bidder will be disclosed only to the bailiff.
— This portal is very good news for the entire market — says Małgorzata Anisimowicz, president PMR Restructuring SA.

In her opinion, e-bailiff auctions can increase the number of companies that can effectively satisfy creditors from a part of their assets, e.g. not so strategic operationally, such as machinery, tools, production halls, means of transport, i.e. e.g. from investment land or other real estate.

– It is very good. The scope of work that is underway shows us where the problems currently exist. There is no doubt that changes are necessary in the scope of the possibility of staying enforcement at the stage of informal and formal pre-insolvency proceedings. It often happens that in the case of initiating at least one enforcement, companies with temporary problems are forced to file an application for declaration of bankruptcy – comments Małgorzata Anisimowicz, president of PMR Restrukturyzacje SA.
The material appeared on pb.pl:

11 December 2018:
" Under the hammer on the internet
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