Tourism, transport, trade, automotive and furniture - according to PMR Restructuring, these industries most expect to benefit from simplified restructuring proceedings.
Despite the unfreezing economy, many companies in Poland are still looking at their finances with concern.
After April's revenue declines and the minima achieved, each successive month brings new summaries of the pandemic's impact to date, and companies continue to look forward to an improved economic situation.
Repair without court
In the face of continuing financial problems more and more companies decides to implement corrective measures, including restructuring, which enables agreements with creditors and protects key contracts and company assets.
– The simplified restructuring procedure will be primarily of an out-of-court nature, and an agreement with the creditor will be sufficient to conduct it. restructuring advisor. Take advantage of this any company will be able to use the tools, regardless of the size or scale of the business – explains Małgorzata Anisimowicz.
Notice and what next?
In the case of simplified restructuring, the day of the opening announcement is crucial proceedings for approval of the arrangement in the Court and Economic Monitor. From that moment until the day of discontinuation or termination of the proceedings by operation of law, enforcement proceedings initiated before the day of opening the proceedings are suspended. At the same time, it becomes impossible to initiate enforcement proceedings and execute a decision on securing a claim or an order to secure a claim resulting from the receivable. After the proceedings have commenced, without the consent of the arrangement supervisor, it will also be inadmissible to terminate contracts, including, among others, lease or tenancy, leasing, property insurance, bank account agreements or guarantee agreements.
Time is of the essence
In a crisis situation, the passing of time is certainly not an ally of entrepreneurs.
– Waiting for positive signals about the economic recovery, companies cannot ignore the growing problems within their own organization. As the financial situation deteriorates companies more and more It is harder to reach an agreement with creditors. The number of options available is also decreasing repairing company finances, including restructuring options. In order to avoid chaotic moves at the end, it is worth preparing a recovery strategy well in advance, before the real risk of insolvency appears - explains Małgorzata Anisimowicz.
on 26 June 2020. We invite you to read the full version:" Who will be helped by simplified restructuring?
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