The new restructuring law, which came into force on 1 January 2016, is intended to streamline, accelerate and increase the effectiveness of procedures aimed at saving enterprises. However, this does not mean that these are easy and simple regulations – for independent application. Restructuring advisors will help in their effective use. In the event of a loss of financial liquidity or another crisis that strongly affects the company's condition, entrepreneurs and managers most often try to cope on their own...

The conference organized by the Ministry of Development was devoted to business culture in Poland in the context of the government program New Chance Policy (PNS). It is a development program that comprehensively addresses the issues of managing a company in a crisis situation and issues related to the liquidation of companies. The main goals of PNS are: preventing crisis situations in companies by launching early warning systems, reducing the risk of liquidation...

The subject of the new law is still stirring up discussions among specialists in various fields. Many people and their opinions will probably strengthen the discourse, which I consider a very good sign. It indicates how much changes are needed in the restructuring of Polish enterprises. The New Restructuring Law, which comes into force on 1 January 2016, is a milestone in the approach to saving companies from the crisis. It provides new repair procedures, changing the culture of liquidation to the forefront of restructuring. And although the change...

Aggressive debt collection activities in many cases lead to the loss of financial liquidity of the indebted company, making it impossible to effectively satisfy all creditors. At the same time, creditors have few tools to motivate debtors to repay their debts. The problem therefore concerns both creditors, tired of waiting for the debtor's good will, but also debtors themselves, who fear radical debt collection procedures from aggressive creditors. The solution...

The adoption of the Restructuring Law and extensive changes to the Bankruptcy Law significantly increase the chances of saving many Polish companies in a difficult financial situation. The changes are fundamental, because the entire procedure for dealing with debtors' applications is subject to reorganization. Nevertheless, it should be remembered that even the best law will not produce positive effects if it is not applied early enough or is applied incorrectly. Undoubtedly, the changes will bring companies in trouble...

The problems of the Alfa Star travel agency are another example of a company that has failed to cope with the difficult situation on the tourist services market. However, the company, which until recently was among the top tour operators in Poland, did not go bankrupt overnight. An appropriate response could have saved it. Currently, we know little - Alfa Star has reported a loss of financial liquidity and that it will not fulfill its obligations resulting from tourist services agreements concluded with customers. About the company's bankruptcy...

The latest example of the Atlantic company proved that once again the Polish culture of liquidation won over the Western practice of restructuring. However, as European experience confirms, restructuring proceedings are much more effective than bankruptcy. This makes the fact that Polish entrepreneurs are not aware of the methods and procedures of judicial restructuring even more surprising. Early initiation of the procedure allows for obtaining the court's approval and an agreement with creditors, which enables the continuation of business...

Atlantic, like other liquidated companies, could have avoided bankruptcy. The chance is restructuring and a professional recovery plan, additionally presented in the situation of the first symptoms of the crisis, and not in its final phase. In the case of Atlantic, the Bankruptcy Court did not believe the presented restructuring architecture. Therefore, the economic aspect and the lack of a credible recovery plan failed. An effective restructuring application requires an in-depth audit of the company and its condition. Performed on this basis...

The trustee is a special type of manager who "organizes" the economic and financial area of the bankrupt debtor, taking into account the optimal satisfaction of creditors. As a body acting for the highest possible satisfaction of creditors, it tries to support the debtor's enterprise, as much as economic factors allow. Creditors and the bankrupt are therefore beneficiaries of the trustee's services, but this is not the same as the implementation of their will. Therefore, it cannot be said that the trustee implements...

Greece's financial problems in microeconomics can be related to the everyday life of companies in Poland and around the world. Every country, like a large company, has revenues and costs and obligations to employees or citizens in the form of social benefits. Companies and states operate in specific macro- and microeconomic conditions that strongly affect the condition of markets and their individual participants. Moreover, both commercial organizations and countries pursue specific goals, are led...