Fewer laid-off employees, fewer creditors without money, less drama and greater stability in the economy - these are the objectives of the Restructuring and Insolvency Law, which came into force on 1 January 2016.
Today, almost a year after the introduction of the new law, it can be said that the operation was successful and the patient survived. But, as experts note, he still has a long rehabilitation ahead of him, comments PMR Restructuring.
Since 2003, i.e. since the introduction of rehabilitation regulations in insolvency law (as a kind of intervention procedure) until the end of 2015, insolvency proceedings were declared against almost 8,000 companies. During the same period, resolution proceedings were initiated against only 58 entities. This is a huge waste of economic potential and a classic symbol of a dead law.
The provisions of the restructuring law in force since January 2016 aim to protect entrepreneurs and enable them to take advantage of the possibilities restructuring already in the initial phase of the crisisThe new law is to implement the so-called New Chance Policy, i.e. the state's economic strategy aimed at protecting enterprises, jobs, intellectual capital and know-how.
- When comparing the number of 155 open restructuring proceedings in 2016, to the 58 resolution proceedings between 2003 and 2015, we can see what a revolution we are dealing with, he notes.
20 December 2016:
" Restructuring law saves Polish companies for a year
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