In the first half of the year, restructuring proceedings were included in the courts' catalogue of urgent cases. Overcoming the effects of COVID-19 requires an extraordinary approach. Hence the shortening and simplification of restructuring procedures.
The Act in force since 2016 provides for various company rescue procedures, including controlled cost reduction, suspension of open enforcement proceedings, amendment or securing of lease agreements, credit agreements with banks or leasing agreements. Using them will allow the company to emerge from problems smoothly, to the benefit of both itself and its creditors.
An additional lifebelt stems from the law of 19 June 2020, the so-called "crisis shield 4.0", under which a simplified arrangement approval procedure can be conducted.
- It is a hybrid of existing solutions aimed at any entrepreneur, regardless of the size of the company. It enables an arrangement with creditors to be worked out quickly, protecting against aggressive debt collection and loss of liquidity. It has as its basis an arrangement through self-collection, but adapted to the need to act quickly - explains Malgorzata Anisimowicz.
Protective umbrella
IN In times of crisis, it is difficult to track down all the possibilities of saving and financing the company, which result from the regulations, and even more so to acquire the ability to use them effectively. That is why entrepreneurs turn to the help restructuring adviser, which also plays an important role in obtaining financing for restructuring.
— Experience of restructuring advisors in developing agreements with creditors it often allows for greater results than those anticipated by the management board when making the decision on restructuring and hiring an advisor - emphasises Malgorzata Anisimowicz.
16 December 2020. We invite you to read the full version:"With the help of an advisor, the company will come out on top
English 
Polish 
Ukrainian