Simplified restructuring was created for companies whose liquidity has suffered as a result of the pandemic. However, in order to effectively use the possibilities of this tool, the support of a restructuring advisor is necessary. Selecting and concluding an agreement with a restructuring advisor is a necessary step to open simplified proceedings for approval of the arrangement. Their presence - both for the court and for the debtor and creditors - allows you to be a guarantor of the proceedings conducted in accordance with...

In response to the crisis situation of enterprises, the government simplified the restructuring procedure. Today, it is already known that the introduced solution meets the needs of companies and turns out to be very useful. The simplified procedure for approval of the arrangement, called the simplified restructuring procedure (UPR), is mostly an out-of-court procedure. - This procedure is aimed at approving the arrangement with creditors and protects the assets of the enterprise and key contracts, implemented...

According to the latest data from the National Debt Register of the Economic Information Office, more than half of small and medium-sized companies complain that their customers do not pay for products or services on time. In turn, Coface indicates that the number of insolvencies of Polish companies increased in the third quarter of 2020. What to do in the event of insolvency due to the contractor's problems? How to cope with your own obligations and get out of the crisis? The pandemic has once again drawn attention...

In the face of the crisis and loss of financial liquidity, many employers are faced with the decision to reduce the number of positions. However, this is not always necessary. Jobs can be protected by using restructuring tools, which, although often associated with compulsory layoffs, in practice help maintain employment. - Remedial solutions, such as the simplified restructuring procedure introduced as part of the anti-crisis shield 4.0, have synergistic value because not only...

Restructuring Law is a lifeline for insolvent and insolvent enterprises, which enables, among other things, protection against enforcement by bailiffs, protection against forced sale of assets, protection against declaring bankruptcy, financial support from the Guaranteed Employee Benefits Fund, or the possibility of concluding an arrangement with creditors along with partial debt cancellation. The entrepreneur has a choice of five types of restructuring proceedings, two of which at...

The sector, which employs 800,000 people in over 13,000 companies and is worth nearly PLN 55 billion, is making its future dependent on the development of the pandemic, as well as the entry into force of the Act on the Anti-Crisis Shield for Tourism. Further parliamentary work on the new regulations is scheduled for 10 September this year. According to PMR Restrukturyzacje experts, a helpful solution for many companies in crisis may be a simplified restructuring procedure. - In order to get back on track...

The new version of the restructuring procedure introduced by Shield 4.0 (i.e. the Act on subsidies to interest on bank loans granted to entrepreneurs affected by the effects of COVID-19 and on the simplified procedure for approval of the arrangement in connection with the occurrence of COVID-19 - Journal of Laws of 2020, item 1086) has many undeniable advantages, such as speed of action and extrajudicial nature. However, there may be even more benefits for companies if some provisions are improved. From the simplified version...

Although entrepreneurs in Poland can already benefit from simplified restructuring proceedings, many of them are still unaware of the specific benefits they have received thanks to the introduced regulations. According to PMR Restrukturyzacje experts, the new solution makes the restructuring proceedings not only quick but also predictable, and its provisions increase the entrepreneur's influence on the restructuring process. In relation to classic restructuring proceedings, its simplified...

Thanks to the simplified restructuring procedure, debtors are given four months to reach an agreement with creditors. Guests of DGP discussed whether the solutions adopted together with the anti-crisis shield will help companies survive the difficult period. Under shield 4.0, simplified restructuring proceedings were introduced. The regulations came into force on June 24, 2020. But why was it necessary to introduce them at all under the special coronavirus act? Małgorzata Anisimowicz: The direction taken is the right one. Obvious...

Tourism, transport, trade, automotive and furniture - in the opinion of PMR Restrukturyzacje, these industries are most looking forward to the possibility of using simplified restructuring proceedings. Despite the unfreezing of the economy, many companies in Poland are still looking at their finances with concern. After the April drops in revenues and the achieved minimums, each subsequent month brings new summaries of the effects of the pandemic to date, and companies are still waiting for an improvement in the economic situation. Repair without the participation of...