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Simplified restructuring
If the answer to any of the above questions is 'yes', then simplified restructuring may be the solution for you! We are here to help you! Together we can work out a solution for your business.
We provide assistance
for entrepreneurs
We provide assistance
for entrepreneurs
Simplified restructuring
You are looking for a quick and effective way to restructure, which will allow your company to get rid of debt problems? Are you concerned that your the company will be forced to declare bankruptcy? Are you considering whether to close a business you have built up over the years? Or do you see a significant drop in turnover and increase in costs?
If the answer to any of the above questions is 'yes', then simplified restructuring may be the solution for you! We are here to help you! Together we can work out a solution for your business.
Check for free,
whether your company can go into debt
We want Help you
- at each stage of the simplified restructuring
- We will prepare a financial analysis of the company for you, i.e. we will review your company's situation in detail to find out what problems and needs it has
- We will draw up a restructuring plan for you, where together we will plan the way forward for your business
- We will enter into negotiations with your creditors, to work out favourable conditions for repayment of your debts
- We will provide full support during the proceedings and during the implementation of the arrangement
- Restructuring adviser licence entitles us to act as supervisor of the arrangement in a simplified restructuring
We support entrepreneurs
Kim are we?
We are a law firm whose the overriding aim is to help entrepreneurs in difficult situations. We have been conducting restructuring proceedings for many years.
We have at your disposal licensed restructuring advisors, who, in collaboration with experts in communications, finance and law will guide you through the restructuring process.
PMR in the media
PMR in the media
Important information
concerning restructuring
Study case
Case study
Smooth restructuring in the transport industry
Description of the problem
A sole trader in the transport industry had financial problems due to the pandemic situation and then the war in Ukraine. The entrepreneur was in danger of having his loan agreements terminated, which would have meant that overnight he could owe banks an amount in excess of PLN 1,000,000.
Solution
The entrepreneur decided to use the company restructuring service provided by our specialist law firm together with our advisory and financial team. The main steps taken in the restructuring process:
- Analysis of the financial situation: Our team carried out a thorough analysis of the company's financial situation, taking into account the company's flows as well as its assets. This allowed us to understand where the problems are and which liabilities are the biggest threat.
- Negotiations with creditors: We started negotiations with the entrepreneur's creditors, which in this case were the banks. The negotiations were aimed at working out such terms for the repayment of liabilities that were feasible for him and at the same time attractive to the creditors.
- Restructuring plan: We prepared a restructuring plan based on an earlier analysis, which included cost optimisation, a new marketing strategy and taking on new market orders
Results
The entrepreneur decided to use the company restructuring service provided by our specialist law firm together with our advisory and financial team. The main steps taken in the restructuring process:
- Improving liquidity: By concluding an arrangement with its creditors, the company gained time to repay its debts and avoided enforcement proceedings as well as the need to declare bankruptcy
- Increasing turnover: The restructuring measures implemented have allowed the entrepreneur to reduce fixed costs and increase operational efficiency, resulting in increased profits
- Long-term stability: Thanks to the development path chosen in the restructuring plan and the continuation of the business, the company is now in a stable situation, resistant to external market changes
This example shows that professionally conducted restructuring proceedings can help entrepreneurs in financial distress regain stability and improve their past performance.
In an interview today, the entrepreneur said that he regrets that he did not decide on this solution a year ago. It would have saved him a lot of stress, which kept him awake at night, and now he is at peace with his business and future prospects.
Want to know more?
Running a business involves a huge amount of risk, or even temporary loss of liquidity can mean serious problems. At the same time, it is incumbent on those running or managing a company to run that business with an eye on its ability to pay, and this brings with it, among other things, the need to monitor whether a state of insolvency has developed in the company.
Simplified restructuring procedure - news
Whether you are natural person or you run your own business, in the face of difficulties It is advisable to enlist the help of experienced specialists, who will help you choose optimum solutions best suited to your situation.
Simplified restructuring procedure - news
Solutions to the simplified restructuring procedure, which enabled many Polish entrepreneurs to survive in the difficult times of the pandemic as of 01 December 2021. have been implemented into Proceedings for Approval of the Arrangement. Since its introduction, it has become increasingly popular among Polish entrepreneurs ensuring effective restructuring with the possibility of a protective umbrella.
Key benefits proceedings are:
- a formalised procedure to guarantee rapid protection of the trader's assets
- freedom to choose a restructuring adviser
- obtain protection by suspending enforcement proceedings by operation of law from 4 months to as much as 12 months
- contractual protection as to the free termination of contracts essential to the running of the business, including leases, rental agreements, loans
- the possibility of including real or collateralised debts in the composition agreement
- speed of proceedings
- effectiveness in concluding agreements
- lowest costs in relation to other types of proceedings
We support
entrepreneurs
Have the arrangement approval proceedings piqued your interest? Not surprisingly -
in 2023, more than 92% restructured companieshave opted for this form of restructuring.
Procedure for Approval of Arrangement commonly referred to as simplified restructuring is the fastest, cheapest and most secure solution for companies struggling with difficulties
- Firstly, it is the Entrepreneur who decides when the proceedings will be opened (no court consent is required). If necessary, it is possible to open them even on the same day.
- Secondly - it is the Entrepreneur who selects the restructuring advisor (it is not appointed randomly by the Court). Given the importance of the restructuring advisor for the success of the entire process, including its: experience, competence, efficiency, this is one of the key advantages of the
- Thirdly, the possibility of providing far-reaching and complete protection against enforcement for a period of 4 mths to as much as 12 mths. During the period from the date of the announcement of the determination of the day of arrangement, existing enforcement proceedings are suspended by operation of law and new ones cannot be initiated against the debtor for a minimum period of 4 months and, in the case of an application for approval of the arrangement, until it is examined.
- Fourthly, protection of the entrepreneur by securing the continuation of contracts of fundamental importance for running the company, including lease, rental and loan agreements;
- Fifthly, the possibility of extending the composition agreement to claims secured in rem or secured by a security transfer
- Sixth - lowest cost
Simplified restructuring
Our experience shows, that since the implementation of precautionary restructuring solutions - a simplified procedure in the form of proceedings for the approval of an arrangement - entrepreneurs are increasingly attempting to save their businesses instead of resorting to liquidation or bankruptcy solutions.
There is definitely a growing awareness of the availability of legal tools to enable entrepreneurs, which is in financial difficulties to retain control of the company and provide protection from creditors for the time needed to implement corrective action.
Proceedings for the approval of an arrangement referred to as PZU for short is conducted for the most part without the involvement of the court. The basis for the initiation of PZU is the conclusion of a contract with a restructuring advisor selected by the entrepreneur, the transfer of the advisor's necessary information such as the Preliminary Inventory of Claims, the Preliminary Restructuring Plan.
Simplified restructuring
- I. Conclusion of the agreement with the selected restructuring advisor
- II. Selection of the settlement date
- III. Preparation of a Preliminary Restructuring Plan and a Preliminary List of Receivables
- IV. Announcement of the determination of the settlement date
- V. Presentation of arrangement proposals to creditors
- VI. Negotiation process
- VII. Voting on the arrangement
- VIII. Submission of an application for approval of the arrangement
- IX. Resolution approving the arrangement
- X. Once the order approving the arrangement has become final, the commencement of performance of the arrangement
These documents allow advisors to make an announcement about the setting of the arrangement date, from which the period of protection of the enterprise against enforcement proceedings begins and the existing proceedings are suspended.
The next stage is the collection of creditor votes. The restructuring adviser is responsible for verifying the proper submission of votes by the creditors, preparing an opinion on the feasibility of the arrangement and a report by the supervisor of the arrangement. If the majority support of the proposed arrangement by the creditors, as required by the Act, is obtained, the entrepreneur shall apply to the Court for approval of the arrangement.
From the date the application is submitted until it is approved, the protection of the company is extended.
Important information
- The procedure for approval of an arrangement is the fastest, cheapest and safest restructuring procedure available;
- The procedure for approval of an arrangement makes it possible to restructure all, but also only selected liabilities;
- Approval of the arrangement in the arrangement approval proceedings protects the company's management board from liability for its debts.
Kim are we?
We are a law firm whose the overriding aim is to help in difficult situations crisis for companies and individuals. We have been conducting bankruptcy and restructuring proceedings for many years.
We have at your disposal licensed restructuring advisors, who in cooperation with experts in the field of communication, finance and law will guide you through the insolvency process.
Check for free,
whether your company can go into debt
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