According to estimates, up to tens of thousands of companies in Poland annually undertake internal repair, rescue measures, but only a few percent of them take advantage of the legal protection and tools that the new Restructuring Law puts at their disposal. Why?
The second year of operation of the amended provisions of the Restructuring and Bankruptcy Law has passed, significantly increasing the chances of saving companies in Poland. Despite the provision of new rescue tools to entrepreneurs, protection periods against aggressive debt collection activities creditors and professionalization of the restructuring process, Polish entrepreneurs still very rarely use such assistance. According to data provided by Coface "Bankruptcies and restructuring companies in Poland in 2017” last year there were 537 bankruptcies and 348 restructurings of companies, with a total of 885 initiated proceedings, which is only a 16 percent increase compared to 2016.
This is a very small increase even considering that the number of restructurings is growing faster than bankruptcies – in 2016, out of the total number of proceedings, 27 percent were restructuring, and in 2017 – 39 percent. Among the proceedings restructuring proceedings, the most common are accelerated arrangement proceedings (209), and the fewest proceedings for approval of the arrangement (11).
Why are there so few of these proceedings in Poland, when experts estimate that there are as many as tens of thousands? companies in Poland introduce various internal restructuring measures every year, and several thousand have serious temporary problems?
15 March 2018:
" Entrepreneurs still not using restructuring tools. Summary of two years of the new law
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