Simplified restructuring was developed for companies whose liquidity has been affected by the pandemic. However, the support of a restructuring adviser is necessary to effectively exploit the possibilities of this tool.
Selecting and concluding an agreement with a restructuring advisor is a necessary step to open a simplified procedure for approving the arrangement. His presence – both for the court and for debtor and creditors – allows you to be a guarantor of the proceedings conducted in accordance with the provisions of the law. The restructuring advisor is also obliged to provide active support for companies in all stages of restructuring and communication with creditors, taking into account their legitimate rights.
List of functions and competencies restructuring adviser in the context of the simplified procedure for approval of the arrangement is very long. According to the provisions of the Act, after concluding an agreement with the entrepreneur, the advisor The restructuring officer acts as the supervisor of the arrangement.
- Moving away from complicated, legal definitions, the role of an adviser can best be likened to an experienced partner who shows up at a company to help it get back on its feet and restore liquidity as quickly as possible. The adviser must be both an excellent and very fair mediator, as assistance to the entrepreneur must always go hand in hand with safeguarding the rights and expectations on the part of the creditors. However, his excellent knowledge of restructuring law allows him to quickly and effectively turn theoretical assumptions into practice and to work out a compromise to the benefit of all participants in the proceedings – explains Małgorzata Anisimowicz, qualified restructuring advisor and president PMR Restructuring Management Board.
29 October 2020. We invite you to read the full version:" Business partner for difficult times
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