A limited liability company is a relatively "safe" form of business, but not always. A limited liability company is considered one of the safest forms of running a business. It's often associated with the idea that partners and management board members are not liable for the company's debts. This isn't entirely true. In the event of a company's financial problems, partners are safe, but management board members may be liable for the company's debts! Becoming a management board member in a limited liability company is not only...

Why is the National Debt Register (KRZ) a step in the right direction? Although the National Debt Register (KRZ) has been criticized—primarily due to technical issues, a complex interface, and a lack of integration with other systems—it's worth emphasizing that its creation was not only necessary but inevitable. The KRZ has introduced a new level of transparency to economic life in Poland. It's a tool that can and should be developed, but it already offers tangible benefits for entrepreneurs, creditors, and individuals.

Over 2,200 family foundations have already been registered in Poland, and their number is constantly growing. A growing number of registration applications are also awaiting consideration by the Registry Court. By the end of the first quarter of 2025, the number of applications awaiting registration is nearly 1,400. Meanwhile, the reporting period is approaching, raising questions about the obligations of foundations still awaiting registration. Doubts remain as to whether, and to what extent, these entities are required to prepare financial statements,...

The creditors' committee is a key body in bankruptcy proceedings, performing supervisory, advisory, and oversight functions. Its establishment and operations are strictly regulated by the Act of 28 February 2003 – Bankruptcy Law (Journal of Laws of 2024, item 794, hereinafter referred to as the "Bankruptcy Law"). The following article, prepared from the perspective of a bankruptcy law expert, aims to provide a detailed discussion of the role, powers, and procedures related to the creditors' committee. Table of Contents: A few words...

Bankruptcy tourism in Poland: where are the courts operating the fastest? Bankruptcy proceedings in Poland are an important element of the legal system, enabling individuals and entrepreneurs to get out of a difficult financial situation. Bankruptcy proceedings are not only becoming increasingly popular, but also vary in terms of duration and effectiveness depending on the region. Although this procedure is unified by the provisions of bankruptcy law, in practice its course and length vary significantly...

In an era of dynamic economic changes and an increase in the number of restructuring proceedings, the importance of effective risk management tools is growing. This article analyzes the role of early warning systems in companies and the justification for engaging restructuring advisors already at the stage of crisis prevention. By comparing economic theory with the practice of financial audits, we indicate the key determinants of insolvency and recommend specific corrective actions. Table of Contents: A few words...

Consumer bankruptcy is an important tool for individuals who do not run a business and who have found themselves in a difficult financial situation. The purpose of this mechanism is to enable debtors to start a new life without financial burdens, by writing off some or all of their debts. However, in practice, the question arises: is it possible for the same person to declare consumer bankruptcy again? The answer to this question requires an analysis of the current provisions of bankruptcy law...

Considering the subject of inheritance in bankruptcy proceedings requires paying attention to how the law regulates inheritance issues in general. It should be noted at the very beginning that, although there is no legal definition of inheritance, based on the provisions of the Civil Code, it can be stated with some simplification that it refers to all property rights and obligations of the testator, which at the moment of his death are transferred to the heirs, in accordance with Article 922 of the Civil Code. ...

The family foundation is a relatively new creation, and therefore representatives of legal science and practice have not yet faced all the problems that the functioning of this institution in the changing conditions of legal transactions entails. However, courts and tax administration bodies are gradually beginning to develop solutions to some problems. This article is the first in a series of texts from which you will learn about the most important court rulings, tax interpretations...

The private investor test, or a few words about public financing in restructuring in the context of public aid and the assessment of the effectiveness of public investments. The involvement of public funds in "undisturbed" market activities always carries a risk related to the selectivity of support and the distortion of competition by favoring certain enterprises. The basic definition of public aid can be found in Article 107 paragraph 1 of the Treaty on the Functioning of the European Union...