In the face of record inflation, rising commodity costs and economic uncertainty related to the war in Ukraine, many Polish companies are facing the challenge of maintaining financial liquidity. However, recent months have shown a huge change in the mentality of Polish entrepreneurs, who are increasingly less likely to declare bankruptcy and are fighting hard to keep their businesses afloat. One of the solutions that allows them to do this is restructuring proceedings. Its popularity...

In the face of record inflation, rising commodity costs and economic uncertainty related to the war in Ukraine, many Polish companies are facing the challenge of maintaining financial liquidity. However, they are increasingly less likely to declare bankruptcy and are fighting hard to keep their businesses afloat. One of the solutions that allows them to do so is restructuring proceedings. Małgorzata Anisimowicz, a qualified restructuring advisor and CEO of PMR, writes about this on Prawo.pl...

The Ministry of Justice launched the National Debt Register (KRZ) in early December 2021. For the first time, key data and documents regarding bankruptcy and restructuring proceedings were to be in one place. The entire process was to be much faster and simpler. But for now, the project has one blunder after another. Court employees, creditors, and restructuring advisors are complaining. Fault after fault - The faults that are removed are still being replaced with new ones. This is what we,...

According to data from the Central Statistical Office, consumer inflation in Poland in December 2021 amounted to 8.6% year-on-year, with an average of 5.1% for the whole of 2021. The largest price increases in 2021 were recorded in transport - 22.7%. In December last year, the cost of using a flat or house was 11.2% higher than a year ago, as well as energy carriers, where bill increases reached even several hundred percent. And this is just the beginning of a long list of challenges that companies operating on the Vistula River are facing today...

The end of 2021 and the beginning of the next year are marked by rising energy and gas prices, which are keeping the entire catering industry awake at night. According to experts from PMR Restrukturyzacje, limited budgets, combined with rising inflation and a sharp increase in fixed costs, may lead even several thousand companies to the brink of insolvency. Last year's record of 2,125 registered insolvencies of Polish companies (which was a 71% increase year-on-year), may lose its relevance in just 11 months. The main reasons...

In 2021, 71% more companies reported insolvency than a year earlier. This year, we should prepare for a much worse result - due to the prices of energy, gas and raw materials. Last year, over 2.1 thousand insolvencies of Polish companies were registered in the courts, i.e. both bankruptcies and restructuring proceedings - according to a study by Coface. On the other hand, the current year began for companies with a gigantic increase in energy and gas costs, which, combined with already high inflation, means big trouble....

The system that was supposed to transfer restructuring and bankruptcy proceedings to the Internet needs changes and refinement. The second month has passed since the entry into force of the Act of 28 May 2021 amending the Act on the National Register of Debtors and certain other acts. It gave a second life to the Covid simplified restructuring. It also transferred restructuring proceedings to the Internet. How do the solutions work? Simplified proceedings were the most popular restructuring tool...

Is your company in a difficult situation? You don't know the reasons for your financial losses and the actions you take don't bring the expected results? Or maybe you are facing the need to carry out restructuring? You lack the knowledge on how to do it and you are afraid of bankruptcy? In this situation, it is worth considering participation in the "Early Warning System (EWS)" program, run by the Polish Agency for Enterprise Development (PARP). The third round of recruitment can...

The fourth wave of COVID-19 threatens not only the health of Poles, it is also a major challenge for business. Since the beginning of the pandemic, numerous economic restrictions have placed companies in a new and unusual reality. In addition, rising prices or increases in specialists' wages do not help to run a business, and often even contribute to the collapse of enterprises. There is increasing talk that we are facing a wave of restructuring proceedings of companies in Poland, aimed at saving businesses. It is therefore worth...

Contrary to popular belief, consumer bankruptcy is not something to be afraid of. For a debtor who is unable to repay the loans they have taken out, harassed by enforcement and bailiffs, it is the only chance to escape the debt spiral. However, before filing for bankruptcy, it is worth knowing how to prepare for it in order to avoid mistakes and unpleasant legal consequences. The purpose of consumer bankruptcy is to discharge the consumer's debt, and the satisfaction of creditors is relegated to the background. And this...