The second year of the amended provisions of the Restructuring and Insolvency Law significantly increasing the chances of rescue of companies in Poland has already passed. Despite new rescue tools being made available to entrepreneurs, protection periods against aggressive debt collection activities of creditors and the professionalisation of the restructuring process, Polish entrepreneurs still very rarely take advantage of such assistance. According to data cited by Coface "Bankruptcy and restructuring of companies in Poland in 2017", 537 bankruptcies and 348 company restructurings were recorded last year, with a total of 885 proceedings initiated, a mere 16 per cent 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?
26 February 2018:
" Entrepreneurs still not using restructuring tools - analysis by PMR Restructuring S.A.
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