This year, another bankruptcy record will be broken, but many companies will survive thanks to restructuring. The simplified restructuring procedure introduced in June 2020 into the legal system for the period until November 30, 2021 as part of the anti-crisis shield 4.0 has been operating as an improved procedure for approval of the arrangement since today. It has been implemented because it proved effective during the pandemic economic collapse. Last year, there were 356 such proceedings. In the first quarter of this year, out of 515 insolvencies...

The risk of a contractor going bankrupt is currently keeping many entrepreneurs awake at night. A crisis always brings a wave of bankruptcies. It is worth knowing whether and how you can protect yourself against such an eventuality. There are several ways to do this. Publication on the website and in the paper edition of the Puls Biznesu daily with expert commentary by Małgorzata Anisimowicz, CEO of PMR Restrukturyzacje and a qualified restructuring advisor. Publication on the website and in the paper edition of the Puls...

The sharp rise in energy prices, rising fuel prices and rising inflation – these are the key factors that, according to PMR Restrukturyzacje experts, will soon lead to the insolvency of – depending on the pandemic situation – 2 to 4 thousand companies in Poland. The increase in operating costs may cause the number of restructurings to reach a record level again, which is already the highest in history. – It is encouraging that companies are increasingly fighting for their existence and instead of going bankrupt...

How does the restructuring proceeding proceed? – The procedure itself is specified in the Restructuring Law and depends on the type of proceeding, and the type itself should depend on the degree of crisis in the company and the architecture of the operation specified in detail by the restructuring advisor. At this point, special attention should be paid to the simplified restructuring proceeding, which is currently the “most popular” among indebted companies. In order to speed up all the procedures,...

The number of companies that will get into serious financial trouble could soon reach several thousand. The reason is the rising costs of doing business. From two to four thousand: that is how many insolvencies we have to reckon with in the near future. This will be influenced by the sudden increases in energy prices, the rising cost of fuel, the increase in the minimum wage and the highest inflation in the European Union. - All of this (...) poses a huge challenge for companies in Poland. Even if the high demand for consumption is maintained, entrepreneurs...

How does the restructuring proceeding proceed? – The procedure itself is specified in the Restructuring Law and depends on the type of proceeding, and the type itself should depend on the degree of crisis in the company and the architecture of the operation specified in detail by the restructuring advisor. At this point, special attention should be paid to the simplified restructuring proceeding, which is currently the “most popular” among indebted companies. In order to speed up all the procedures,...

According to data from Coface, in the first half of 2021, Poland recorded a record 160% year-on-year increase in the number of business insolvencies. In order to get out of a difficult financial situation and avoid bankruptcy, companies must go through a restructuring process, which is a completely new experience for most of them. This, in turn, makes it easy to make mistakes and have painful consequences. Experts from PMR Restrukturyzacje and FKK indicate what debtors should pay particular attention to and what...

According to data from Coface, in the first half of 2021, Poland recorded a record 160% year-on-year increase in the number of business insolvencies. In order to get out of a difficult financial situation and avoid bankruptcy, companies must go through a restructuring process, which is a completely new experience for most of them. This, in turn, makes it easy to make mistakes and have painful consequences. Experts from PMR Restrukturyzacje and FKK indicate what debtors should pay particular attention to and what...

Simplified restructuring proceedings during the pandemic played a very important role in the context of saving Polish companies from bankruptcy. In practice, however, not all of its elements work properly. In the opinion of PMR Restrukturyzacje, the problem concerns, among others, financial institutions (banks), which have far too little time to properly analyze the debtor's situation. As a result, this often leads to distorted decisions regarding voting on the arrangement. The time that...

Not all farmers have managed to maintain financial liquidity in the difficult times of the pandemic. But they are not giving up – they are fighting for their existence, seeing salvation in the restructuring of farms. As a result of the introduced restrictions and partial closure of the economy, liquidity problems have affected most industries operating on the Polish market. Many companies operate in a system of so-called communicating vessels, which means that the problems of one sector very quickly affect its main suppliers and subcontractors....