More and more companies at risk of bankruptcy are trying to get back on track, according to a 2018 report by the international credit insurer Coface. Although the total 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 compared to previous years. The proportions of bankruptcy to arrangements and rehabilitations are also changing in favor of saving companies (57% and 43%, respectively). Since...

As reported by the international credit insurer Coface 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. Although the total 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 compared to previous years. The proportions of bankruptcy to arrangements and rehabilitations are also changing in favor of saving companies...

Business conditions for Polish companies are deteriorating – warn analysts from PMR Restrukturyzacje SA, a company that normally saves companies from bankruptcy. The accumulation of negative market and fiscal factors, difficulties in finding employees and rising employment costs, drastic reductions in profitability and profit margins… All this increases the risk of bankruptcy. The inevitable increases in electricity prices are a problem that will affect all companies, not only those in the energy and energy-intensive sectors...

Although it is hard to find a spectacular example of a successful restructuring, experts believe that the new regulations are effective. The end of December will mark two years since the new restructuring law came into effect. There were, are and will be many reservations about it. Despite this, the act, although it does not work exactly as expected, does fulfill its role. Failures and successes The most spectacular failures of the new law were in 2017. At that time, the restructuring proceedings of the chain were discontinued...

As reported by the National Council of Bailiffs, the bailiff e-auction portal will be launched at the beginning of next year. The work has just entered the final phase of tests to check advanced verification functions and security of sensitive data. The portal will radically increase the availability of auctions, which is to translate into benefits for both creditors recovering receivables and debtors. The e-auction system works great in many European Union countries, e.g. Hungary or Poland's neighboring...

A new portal will be launched soon, where e-bailiff auctions will be available. According to forecasts, this may help to satisfy creditors more often from part of the debtors' assets. The final stage of work on electronic bailiff auctions is underway. On the future portal, tests are being conducted, among other things, of the verification function and the protection of sensitive data. According to the forecasts of the National Council of Bailiffs (KRK), conducting e-auctions should be possible from the beginning of next year. The Council forecasts that the portal, increasing...

On 11 October, the EU member states' justice ministers adopted a position on the directive on business insolvency within the Council of the European Union. The directive provides a lot of freedom in applying national regulations, but imposes several common conditions: a model restructuring plan for companies will be created, the liability of management for bankruptcy will be increased, and the period of protection against enforcement will be limited to a maximum of 4 months. The member states' justice ministers...

The EU member states' justice ministers, within the Council of the European Union, recently adopted a position on the directive on the bankruptcy of enterprises. According to Małgorzata Anisimowicz, president of PMR Restrukturyzacje, the new changes are heading in a positive direction. In their joint position, the ministers within the EU Council agreed that national regulations should have decisive force, and that common regulations should cover only a few elements of proceedings. This primarily concerns: the possibility of staying enforcement at the stage of proceedings...

According to Euler Hermes experts, the number of bankruptcies in the transport sector increased by 29 percent in 2018 compared to the previous year. Two large European carriers are calling for an average 6 percent increase in service prices. This is to be a response to rising fuel costs, traffic jams, payment backlogs and problems with finding workers. The transport industry in Poland is experiencing a serious crisis, as shown by data available in the Economic and Court Monitors. Since the beginning of the year...

The Upper Silesian-Zagłębie Metropolis has once again announced a tender for electricity supplies. In the first one, the offers turned out to be too expensive. At the beginning of October, a tender for electricity supplies for a purchasing group associating over 307 entities (municipalities, institutions subordinate to them, and companies) was canceled in Silesia. The suppliers' offers exceeded the budget. Local governments decided to take a second approach. - The Metropolis has announced a new tender for the joint purchase of electricity. Due to the significant increase in electricity prices...