The YAMO company operating in the computer industry will survive thanks to restructuring. The arrangement was supported by almost all creditors. When we asked representatives of companies involved in company restructuring at the end of last year about successful repairs, it was difficult for them to give even one obvious example. Such a case was boasted by PMR Restrukturyzacje, which was the manager in the restructuring of Yamo, a company distributing computer equipment and software. Yamo operates on the Polish...

The most popular legal form of running a business in Poland is a sole proprietorship (JDG). Such a company is easy to set up, registration of the business is free, and usually there is no need to keep full accounting records. However, over time, when the company begins to grow, an injection of capital may be needed. In this situation, it is worth considering setting up a company and knowing what risks await the entrepreneur. What are these risks? We advise. According to Tax Care data (Entrepreneurship Index),...

Sole proprietorship is the most popular form of running a business in Poland. It is easy to set up, registration is free, and full accounting is usually not required. However, when a company grows, it sometimes needs an injection of capital. Then it is worth thinking about setting up a company and knowing what traps await an entrepreneur. What are they? We will tell you. According to data from the Tax Care "Entrepreneurship Index", by the end of 2018, in Poland there were...

Over 2.5 million proceedings in 2018, including over a million completed, are the total of all law firms that applied for the new category in our ranking. For the first time, law firms participating in the ranking could choose whether they wanted to compete with other lawyers or would prefer to take part in one of two classifications, in which there was no requirement to employ lawyers with qualifications at all. The first was intended for law firms or companies providing legal services...

Restructuring advisors have to wait years to be paid for their work, and often do not receive it at all. Specialists responsible for company restructuring complain about problems with receiving payment. - For half of the restructuring proceedings that we conducted, DGA did not receive remuneration or reimbursement of expenses incurred for them - says Andrzej Głowacki, president of DGA Center for Sanation of Companies. Bonus for success The amount of remuneration of restructuring advisors and the method of its...

The new EU directive on restructuring law has been approved by the European Parliament and is to be adopted by the Council of the European Union in June. It will enter into force in all EU countries this year. The new directive on the preventive restructuring framework is to harmonise the rules on corporate recovery in all EU countries. – The directive will be adopted by the Council of the European Union on 6 June and published in the Official Journal of the European Union...

According to CEIDG statistics, there are currently around 2 million companies registered in Poland, 60% of which are family businesses, and each month over 100 of their owners die, very often without settling inheritance matters. The new regulations provide a chance to continue the family business even in such situations. The new regulations on inheritance of companies came into force on 25 November 2018, allowing the appointment of a successor manager also in emergency mode, i.e. in a situation where the owner, before his death...

According to analyses by PMR Restrukturyzacje SA consumer bankruptcy experts, the biggest problem with applying for debt relief is faced by people over 60. BIK and BIG infoMonitor data from the last 3 years indicate that the trend is slowly changing – in applications for UK from 2015 to the end of 2018, the share of people over 56 increased from 32 to 39 percent. What is the reason for the reluctance of older people to UK? Why do they not apply to courts despite critical financial problems? Specialists...

Contrary to earlier announcements, 2018 did not end with a budget surplus. Deficits of around PLN 10 billion were recorded. The deficit of the entire public finance sector amounted to 0.5 percent of gross domestic product. This was reflected in the public debt to GDP ratio. It decreased from 50.6 percent to 49.2 percent. Therefore, the costs of servicing the public debt also decreased (to PLN 28 billion, or 9.2 percent) of state budget expenditure. All this is happening with increased spending on social purposes. Since the implementation of the...

The biggest problem with applying for debt relief is faced by people over 60. BIK and BIG infoMonitor data from the last 3 years indicate that the trend is slowly changing – in applications for UK from 2015 to the end of 2018, the share of people over 56 increased from 32 to 39 percent. What is the reason for the reluctance of older people to UK? Why do they not apply to courts despite critical financial problems? PMR Restrukturyzacje SA consumer bankruptcy specialists indicate that the vast majority...