Bankruptcy proceedings are a complex and multi-stage process, the main purpose of which is to satisfy creditors from the debtor's assets in the event of their insolvency. During these proceedings, the debtor's assets become the so-called bankruptcy estate, which is subject to the management of the trustee and serves to cover liabilities. However, this does not mean that all of the debtor's assets automatically enter the bankruptcy estate. Polish law provides for a number of cases in which certain assets...

In the previous article entitled: "Bankruptcy estate - basic information" basic information on the bankruptcy estate was presented - what it is, what it consists of and what is its role in bankruptcy proceedings. This article will be a continuation and development of the topic of the bankruptcy estate, and specifically will focus on the methods of liquidation of the bankruptcy estate, i.e. it will answer the question of how the trustee can sell the assets of the bankrupt debtor to satisfy the creditors...

Bankruptcy proceedings are a judicial process aimed at solving the problem of the debtor's insolvency. In the Polish legal system, one of the key entities of this procedure is the judge commissioner. His role is extremely important, because he performs a supervisory, decision-making and coordination function in the process of implementing bankruptcy proceedings. This article discusses in detail the tasks, competences and importance of the judge commissioner in the Polish bankruptcy law system, with particular emphasis on...

Consumer bankruptcy is one of the ways to settle the debtor's financial obligations and sort out their financial situation. However, it is worth remembering that this procedure is associated with consequences that concern both the debtor and their creditors. Therefore, a person considering using this solution should carefully familiarize themselves with all the effects of consumer bankruptcy and be aware of all the consequences resulting from such proceedings. Table of contents: A few words...

The private creditor test is a document prepared as part of restructuring proceedings, which is mandatory in a situation where, during the proceedings or during the implementation of the arrangement, the entrepreneur may be provided with support by the state or using public resources in any form. Although this document is primarily dedicated to public-law creditors, it is also a valuable source of information for other creditors, especially in the context of making...

In life, difficult financial situations can arise in which debts exceed the ability to repay them. Illness, job loss, unforeseen expenses - these are just some of the reasons that can lead to insolvency. If you are in a similar situation and are considering declaring personal bankruptcy, we are here to help. Below we explain how we can support you in this process and what benefits using our services can bring. Table of contents: A few words about...

Bankruptcy proceedings are a special type of civil procedure that aims to regulate the financial situation of a debtor who is unable to meet their obligations. In the Polish legal system, they are primarily regulated by the Act of 28 February 2003 – Bankruptcy Law, which introduces detailed rules for declaring bankruptcy, its course, and the procedure related to the liquidation of the bankrupt's assets. The central element of this procedure is the concept of "bankruptcy estate"....

Family foundation and CIT A family foundation is a solution for people (founder) who want to manage their assets, including investment assets, in one organization in order to safely and effectively multiply them for generations while providing financial security to the founder and the founder's closest family (beneficiaries). The popularity of investing family assets in family foundations also results from the fact that taxation of a family foundation,...

The year 2024 was a time of dynamic changes in the consumer bankruptcy market in Poland. The increase in the cost of living, changing interest rates and the economic slowdown significantly affected the financial situation of Polish households. In response to these challenges, many consumers decided to use bankruptcy procedures as an element of renewal and a second chance. In this article, we summarize the most important trends, statistics and key legal changes that influenced the number of...

The process of creating a family foundation requires going through several stages, from preparing the necessary documentation and contributing the founding fund to formally registering the family foundation in the register of family foundations. Below we will present a step-by-step guide on how to establish a family foundation. Although this process seems complex with the support of experts at each of its stages, it should run smoothly and effectively, so that the Founder and his family can enjoy...