{"id":5838,"date":"2018-05-15T12:00:00","date_gmt":"2018-05-15T10:00:00","guid":{"rendered":"http:\/\/pmr-restrukturyzacje.local\/pmr\/restrukturyzacja-przewleklosc-postepowan-i-brak-finansowania\/"},"modified":"2018-05-15T12:00:00","modified_gmt":"2018-05-15T10:00:00","slug":"restructuring-lengthy-proceedings-and-lack-of-financing","status":"publish","type":"post","link":"https:\/\/pmr-restrukturyzacje.pl\/en\/restructuring-lengthy-proceedings-and-lack-of-financing\/","title":{"rendered":"Restructuring - protracted proceedings and lack of funding"},"content":{"rendered":"

In addition to the lengthiness of proceedings and the lack of funding, the restructuring provisions have another drawback - they do not ensure the remuneration of administrators.<\/p>\n

A second chance for almost every entrepreneur, and bankruptcy only as a last resort - this is how the restructuring law, which came into force at the beginning of 2016, was supposed to work. What can be seen after more than two years? Even though companies are eager to get into recovery, most such processes end in bankruptcy anyway.<\/p>\n

No money, no go<\/b><\/p>\n

Andrzej Glowacki, restructuring advisor<\/a>, analyzed several cases of corporate recovery that his company had dealt with in the last two years. They aptly show the difficult reality of restructuring<\/a>. Out of a dozen or so proceedings conducted, only one ended with an arrangement with creditors. Reasons? One of them is the need to have cash. Each restructured the company had a problem<\/a> with a lack of working capital, and obtaining it would be a solution and would get the company back on its feet.<\/p>\n

The entities filing the application to open the proceedings were drained of money as a result of systematically generating negative financial results or mismanagement, claims Andrzej G\u0142owacki. In his opinion, none restructuring<\/a> has no chance of success if it is not supported by external financing. And despite the fact that there is a general ban on terminating lease or tenancy agreements and any other agreements on the basis of which financing was granted to the debtor, in most cases the cash flow is still severely limited by the financiers when the company decides to repair<\/a>.<\/p>\n

\n- Financial products aimed at restructured entrepreneurs are starting to appear on the market, but they are not yet widely available, and their service is more expensive than in the absence of the initiated proceedings. On the other hand, the entrepreneur's suppliers are trying to make further commercial cooperation dependent on the payment of at least part of the receivables covered by the arrangement by operation of law - which, of course, is inadmissible under the applicable regulations - says Ma\u0142gorzata Anisimowicz, restructuring advisor, president of PMR Restructuring<\/a>.\n<\/div>\n

He adds that the provision allowing for privileges is helpful. creditors supporting the restructuring process<\/a> by granting them more favorable terms of the arrangement, which is a departure from the principle of equal treatment of all to whom the debtor owes something. But this may also not be enough.<\/p>\n

\nThe material appeared in the newspaper Puls Biznesu:
\n<\/b>
\n15 May 2018:
\n\" Company doctors work without a guarantee of payment<\/a>\n<\/div>","protected":false},"excerpt":{"rendered":"

Opr\u00f3cz przewlek\u0142o\u015bci post\u0119powa\u0144 i braku finansowania, przepisy o restrukturyzacji maj\u0105 jeszcze jedn\u0105 wad\u0119 – nie zapewniaj\u0105 wynagrodzenia zarz\u0105dcom. Druga szansa dla niemal ka\u017cdego przedsi\u0119biorcy, a bankructwo tylko w ostateczno\u015bci – tak mia\u0142o dzia\u0142a\u0107 prawo restrukturyzacyjne, kt\u00f3re wesz\u0142o w \u017cycie na pocz\u0105tku 2016r. Co wida\u0107 po ponad dw\u00f3ch latach? Cho\u0107 firmy ch\u0119tnie garn\u0105 si\u0119 do naprawy, to wi\u0119kszo\u015b\u0107 takich proces\u00f3w i tak ko\u0144czy si\u0119 upad\u0142o\u015bci\u0105. Bez pieni\u0119dzy ani rusz Andrzej G\u0142owacki, doradca restrukturyzacyjny, przeanalizowa\u0142 kilkana\u015bcie przypadk\u00f3w naprawy sp\u00f3\u0142ek, z kt\u00f3rymi jego firma mia\u0142a do czynienia w ci\u0105gu ostatnich dw\u00f3ch lat. Trafnie pokazuj\u0105 one trudn\u0105 rzeczywisto\u015b\u0107 restrukturyzacji. Z kilkunastu prowadzonych post\u0119powa\u0144 tylko jedno zako\u0144czy\u0142o si\u0119 uk\u0142adem zawartym z wierzycielami. Przyczyny? Jednym z nich jest konieczno\u015b\u0107 posiadania got\u00f3wki. Ka\u017cda restrukturyzowana sp\u00f3\u0142ka mia\u0142a problem z brakiem kapita\u0142u obrotowego, a jego zdobycie by\u0142oby rozwi\u0105zaniem i postawi\u0142oby firm\u0119 na nogi. Podmioty sk\u0142adaj\u0105ce wniosek o otwarcie post\u0119powania zosta\u0142y wydrenowane z pieni\u0119dzy w wyniku systematycznego generowania ujemnych wynik\u00f3w finansowych lub b\u0142\u0119dnego zarz\u0105dzania – twierdzi Andrzej G\u0142owacki. Jego zdaniem, \u017cadna restrukturyzacja nie ma szans na powodzenie, je\u017celi nie zostanie wsparta zewn\u0119trznym finansowaniem. A pomimo tego, ze generalnie obowi\u0105zuje zakaz wypowiadania um\u00f3w najmu czy dzier\u017cawy oraz wszelkich tych, na podstawie kt\u00f3rych udzielono d\u0142u\u017cnikowi finansowania, w wi\u0119kszo\u015bci przypadk\u00f3w strumie\u0144 got\u00f3wki i tak zostaje mocno ograniczony przeez finansuj\u0105cych, gdy tylko firma zdecyduje si\u0119 na napraw\u0119. – Na rynku zaczynaj\u0105 si\u0119 pojawia\u0107 skierowane do restrukturyzowanych przedsi\u0119biorc\u00f3w produkty finansowane, jednak\u017ce nie s\u0105 one jeszcze mocno rozpowrzechnione, za\u015b ich obs\u0142uga jest bardziej kosztowna ni\u017c w przypadku braku wszcz\u0119tego post\u0119powania. Z drugiej strony, dostawcy przedsi\u0119biorcy staraj\u0105 si\u0119 uzale\u017cni\u0107 dalsz\u0105 wsp\u00f3\u0142prac\u0119 handlow\u0105 od zap\u0142aty chocia\u017cby cz\u0119\u015bci wierzytelno\u015bci obj\u0119tej uk\u0142adem z mocy prawa – co, rzecz jasna, jest niedopuszczalne na gruncie obowi\u0105zuj\u0105cych przepis\u00f3w – twierdzi Ma\u0142gorzata Anisimowicz, doradca restrukturyzacyjny, prezes PMR Restrukturyzacje. Dodaje, \u017ce pomocny jest przepis umo\u017cliwiaj\u0105cy uprzywilejowanie wierzycieli wspieraj\u0105cych proces restrukturyzacji poprzez przyznanie im korzystniejszych warunk\u00f3w uk\u0142adu, co stanowi wy\u0142om od zasady r\u00f3wnego traktowania wszystkich, kt\u00f3rym d\u0142u\u017cnik jest co\u015b winien. Ale to te\u017c mo\u017ce by\u0107za ma\u0142o. Materia\u0142 ukaza\u0142 si\u0119 w gazecie Puls Biznesu: dnia 15 maja 2018: \u00bb Lekarze firm pracuj\u0105 bez gwarancji zap\u0142aty<\/p>","protected":false},"author":12,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[19],"tags":[],"ppma_author":[30],"class_list":["post-5838","post","type-post","status-publish","format-standard","hentry","category-blog"],"authors":[{"term_id":30,"user_id":12,"is_guest":0,"slug":"teampmr-restructuring-pl","display_name":"Zesp\u00f3\u0142 PMR","avatar_url":{"url":"https:\/\/pmr-restrukturyzacje.pl\/wp-content\/uploads\/2024\/10\/logo2-e1729926426335.png","url2x":"https:\/\/pmr-restrukturyzacje.pl\/wp-content\/uploads\/2024\/10\/logo2-e1729926426335.png"},"0":null,"1":"","2":"","3":"","4":"","5":"","6":"","7":"","8":""}],"_links":{"self":[{"href":"https:\/\/pmr-restrukturyzacje.pl\/en\/wp-json\/wp\/v2\/posts\/5838","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pmr-restrukturyzacje.pl\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pmr-restrukturyzacje.pl\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pmr-restrukturyzacje.pl\/en\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/pmr-restrukturyzacje.pl\/en\/wp-json\/wp\/v2\/comments?post=5838"}],"version-history":[{"count":0,"href":"https:\/\/pmr-restrukturyzacje.pl\/en\/wp-json\/wp\/v2\/posts\/5838\/revisions"}],"wp:attachment":[{"href":"https:\/\/pmr-restrukturyzacje.pl\/en\/wp-json\/wp\/v2\/media?parent=5838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pmr-restrukturyzacje.pl\/en\/wp-json\/wp\/v2\/categories?post=5838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pmr-restrukturyzacje.pl\/en\/wp-json\/wp\/v2\/tags?post=5838"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/pmr-restrukturyzacje.pl\/en\/wp-json\/wp\/v2\/ppma_author?post=5838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}