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....

In the first half of the year, the number of restructuring applications exceeded 1,000 and was even 25 percent higher than in the whole of 2020. Another wave of the pandemic and the closure of the economy may increase to 2-3 thousand cases. Data from the Central Economic Information Center show that while in 2020 30-40 restructuring proceedings were opened per month and there were 800 of them throughout the year, only in June there were 266 applications. As a result, the whole half of the year has already been 1 thousand proceedings and everything indicates that...

Simplified proceedings may fail if financial institutions have too little time to analyze the debtor's situation. Read the article and find out: - why do financial institutions block simplified restructuring? - is four months enough to carry out restructuring? - what to do to give banks more time to analyze the debtor's situation? Małgorzata Anisimowicz - qualified restructuring advisor and CEO of PMR Restrukturyzacje gave...

What mistakes do creditors make most often during the restructuring process? How can they be avoided? Read the article and find out: – what mistakes do creditors make most often during restructuring? – what effects can they have? – what should be done to avoid these mistakes? Małgorzata Anisimowicz – qualified restructuring advisor and CEO of PMR Restrukturyzacje commented on the publication of the Puls Biznesu daily devoted to the subject of...

The simplified restructuring procedure, which has been available to indebted companies since June 2020, has significantly accelerated the process of repairing Polish companies during the pandemic. However, what else should change in this regard? How many companies have benefited from simplified restructuring? The simplified restructuring procedure was introduced as a temporary solution in June 2020, together with the anti-crisis shield 4.0. However, it turned out to be so effective that the government has already...

From December 1st, the Covid simplified restructuring will be replaced by the amended procedure for approval of the arrangement. What does it involve? Read the article and find out: - When will the new simplified restructuring be in force? - How will it differ from the previous simplified procedure? - What will the tighter protection regarding the ban on enforcement and termination of key contracts consist of? Małgorzata Anisimowicz - qualified restructuring advisor and...

Due to the pandemic and the restrictions introduced, hotels and restaurants have suffered the most out of all sectors of the economy. In 2020, the number of declared insolvencies in the hotel, restaurant and catering industry increased by 65% compared to the previous year. We check whether, with the easing of restrictions, the HoReCa industry has a chance to recover from the pandemic tsunami. Małgorzata Anisimowicz, qualified restructuring advisor and CEO of PMR Restrukturyzacje, commented...

The topic of restructuring usually appears in the media only when financial problems affect large companies. However, repair tools are not reserved only for giants. Even the smallest companies, among which the effectiveness of restructuring is very high, can use them on equal terms. Experts from PMR Restrukturyzacje and FKK Law Firm point out the most common myths about restructuring and suggest how companies from Lower Silesia and all of Poland can quickly...