Changes to the restructuring law that are beneficial for entrepreneurs have come into force. They allow for obtaining financial assistance from the state (e.g. instalment payment of overdue taxes and ZUS) even before the restructuring procedure begins. Until now, public aid for companies could only be granted in exceptional situations, after obtaining the consent of the European Commission. Thanks to the new regulations, it will not be necessary. Rescue aid or temporary support can only be granted in the form of...

On Tuesday, January 16, 2018, the president signed an amendment to the Restructuring Law, which adjusts its provisions on public aid to the conditions required by the European Commission in the notification "Aid program providing for the granting of aid for the rescue and restructuring of small and medium-sized enterprises". The amendment to the Restructuring Law will provide entrepreneurs repairing their companies with specific financial assistance from the state. The new provisions were long...

The bankruptcy courts are dragging on cases involving companies and consumers. It has been suggested that the latter should be transferred to other justice units. It will soon be two years since the Restructuring Law and the amended Bankruptcy Law came into force. In April, restructuring law experts were already reporting that the new regulations were not working as expected. It is now clear that the flaws are serious and, even worse, there is still no real prospect of eliminating them. One of the biggest...

Just a year ago, with 180 branches, Matras was the second largest bookstore chain in Poland. The court dismissed the company's restructuring proceedings at the end of August, ruling that there was no chance of recovery, but it may take a long time before this decision becomes final. Only then could Matras be taken over by an investor in the so-called prepared bankruptcy procedure. Deadlock? Not necessarily. Matras' new judicial administrator has a plan B — he wants to lease the bookstores that are still operating to companies associated with the Penta fund...

A petition for declaring personal bankruptcy can be filed the day after deregistering a business. However, the court may dismiss it if, in the period of ten years prior to the date of its filing, the debtor did not file a petition for declaring bankruptcy of the enterprise he manages, despite having such an obligation. It is not easy to fulfill, especially in the case of companies that ceased their activity before the amendment to the bankruptcy law, in force since the beginning of 2016 -...

Capital groups are exceptionally complex structures, in which management, strategy implementation and various processes constitute a real challenge. Puls Biznesu is organizing a conference dedicated to capital groups, in which representatives of PMR Restrukturyzacje SA will participate. During the conference, we will suggest how to improve functioning within a capital group, how to optimize mutual relations and develop an effective methodology for cooperation within a holding. During the event, experienced...

According to the Credit Information Bureau's "Credit Trends" report, the number of people with liabilities to loan companies increased by 24 thousand in the first half of 2017. Around 80% of them also have bank loans. This creates the risk that some borrowers will fall into a debt spiral by taking on more liabilities to loan companies. The interest in such companies stems from the fact that banks are withdrawing from low-amount consumer loans. - It does not seem to me...

The Sejm has referred the presidential amendment to the act on support for borrowers who have taken out a housing loan and are in a difficult financial situation to the Public Finance Committee for further work. This means that those repaying so-called Swiss franc loans can forget about the spread act and the full conversion of their obligations to złoty. However, they can effectively defend themselves against high installments and excessive debt. The act is to enter into force on 1 January 2018, if the bill of President Andrzej...

According to a study conducted by the Conference of Financial Enterprises and the Institute of Economic Development of the Warsaw School of Economics, 52.4% of Poles declare a “low” probability of saving money in the next 12 months, while 25.6% declare a “none” probability. 6% of respondents indicate a “very high” probability of saving, while 16% indicate a “high” probability. The predominance of people not planning to save is 37.8 percentage points compared to 38.4 points....

According to the new restructuring law, any entrepreneur whose company is in a difficult situation may apply to the commercial court for protection against bailiffs' executions, court executions and other actions of creditors, e.g. blocking of money by banks, in order to restore the normal functioning of the company and heal it. However, the condition is to demonstrate the reasonableness of restructuring the company through a plan, which must be presented within... 30 days. Is it possible, practical and responsible...