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 - says Andrzej Głowacki, president of DGA Center for Company Sanation. Bonus for success The amount of remuneration of restructuring advisors and the method of its payment...

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?...

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...

The Internet is forcing bank branches to close. Quite simply, some are no longer visited. Thousands of employees are saying goodbye to their jobs. If things continue like this, in a dozen or so years most of the branches will disappear, leaving only those in shopping malls. Banks closed 371 of their own branches last year; in the last two years, an average of 32 branches per month have been closing – data from the Polish Financial Supervision Authority show. This is partly compensated by the opening of branches – representative offices....

As statistics show, since the beginning of 2016, when the new bankruptcy and restructuring law came into force, almost 20 thousand people in Poland have already taken advantage of the possibility of debt relief through consumer bankruptcy. Numerous law firms and advisors advertise on the Internet, in the media, on leaflets and posters, claiming that the procedure is very simple, and anyone who cannot cope with debts can free themselves from them. As confirmed by restructuring advisors, lawyers and a growing number of...

The dairy industry is unique – bankruptcies happen once every few years. It is worth examining how this compares to the entire food sector. As Coface reports in its 2018 report on bankruptcy and restructuring of companies in Poland, more and more companies at risk of bankruptcy are trying to get back on track. As we read in the report, although the overall number of bankruptcies and restructurings is growing – an increase of 10% in 2018 compared to the previous year, the number of restructurings is also growing significantly...