Bankruptcy proceedings are a special type of civil procedure that aims to regulate the financial situation of a debtor who is unable to meet their obligations. In the Polish legal system, they are primarily regulated by the Act of 28 February 2003 – Bankruptcy Law, which introduces detailed rules for declaring bankruptcy, its course, and the procedure related to the liquidation of the bankrupt's assets. The central element of this procedure is the concept of "bankruptcy estate"....

Family foundation and CIT A family foundation is a solution for people (founder) who want to manage their assets, including investment assets, in one organization in order to safely and effectively multiply them for generations while providing financial security to the founder and the founder's closest family (beneficiaries). The popularity of investing family assets in family foundations also results from the fact that taxation of a family foundation,...

The year 2024 was a time of dynamic changes in the consumer bankruptcy market in Poland. The increase in the cost of living, changing interest rates and the economic slowdown significantly affected the financial situation of Polish households. In response to these challenges, many consumers decided to use bankruptcy procedures as an element of renewal and a second chance. In this article, we summarize the most important trends, statistics and key legal changes that have influenced...

The process of creating a family foundation requires going through several stages, from preparing the necessary documentation and contributing the founding fund to formally registering the family foundation in the register of family foundations. Below we will present a step-by-step guide on how to establish a family foundation. Although this process seems complex with the support of experts at each of its stages, it should run smoothly and effectively, so that the Founder and his family can enjoy...

A family foundation is a modern form of management that was introduced into the Polish legal system by the Act of 26 January 2023. The provisions introducing the Family Foundation were created with those family businesses in mind that were built with hard work by their founders, who now received a succession tool from the legislator that allows them to secure the existence and development of the company without the need for division of inheritance or the consent of all stakeholders. Table of contents: What...

In Polish civil law, a donation is one of the forms of transferring property, which consists in the gratuitous transfer of goods or rights to the donee. However, making a donation, especially in the context of the threat of bankruptcy, may give rise to serious legal consequences. In a situation where the debtor is in a difficult financial situation and his bankruptcy is inevitable, making donations may be considered an action aimed at preventing the satisfaction of creditors. The aim of this article is to analyze...

Trust acquisition is a mechanism that, despite its many advantages, is relatively rarely used in Poland. This is interesting because it is commonly used, among others, in Anglo-Saxon law. Various types of trust structures are widely used in many areas of economic activity. Table of contents: What is the institution of trust? Trust agreement for shares in a capital company The most common purposes of concluding an agreement...

Consumer bankruptcy is one of the frequently chosen ways to obtain debt relief and cope with financial problems by individuals who do not run a business. An insolvent consumer has two paths to choose from to obtain debt relief. The first is consumer bankruptcy, the second is to conclude an arrangement at a meeting of creditors. Consumer bankruptcy proceedings may be conducted under the rules of general proceedings or under the rules provided for proceedings...

Remuneration of the Trustee in Business Bankruptcy The remuneration of the trustee in business bankruptcy is one of the significant costs for people deciding to file an application to open bankruptcy proceedings. So, what remuneration can the trustee in bankruptcy proceedings count on? Read the text below and find out the answers to the questions: Who is the trustee and what is his role in bankruptcy proceedings? What does the remuneration of the trustee depend on? Who and when...

As Terry Pratchett wrote, “If you have a Plan, you are halfway there.” Projecting intentions and actions within a “healthy” business allows for time optimization, improves management efficiency and streamlines processes. As practice shows, it is also crucial for crisis management, which is why a restructuring plan is a fundamental document in restructuring proceedings as well. Table of contents: What is a restructuring plan? What are the types of...