{"id":5879,"date":"2019-12-20T18:51:29","date_gmt":"2019-12-20T17:51:29","guid":{"rendered":"http:\/\/pmr-restrukturyzacje.local\/pmr\/kluczowe-jest-dofinansowanie\/"},"modified":"2019-12-20T18:51:29","modified_gmt":"2019-12-20T17:51:29","slug":"funding-is-key","status":"publish","type":"post","link":"https:\/\/pmr-restrukturyzacje.pl\/en\/funding-is-key\/","title":{"rendered":"Funding is key"},"content":{"rendered":"

Finding financial resources is very important in the recovery of SME companies. Their absence can lead to the discontinuation of restructuring proceedings or the revocation of the arrangement, resulting in bankruptcy.<\/p>\n

A company decides to restructure most often when its liquidity is shaky and it is unable to pay its current liabilities. It therefore does not have the own funds to support its recovery. This, in turn, requires an adequate level of financing, obtained from external sources, concerning not only restructuring plans, but also current operations. Loans, trade credits or finding an investor are a lifeline.<\/p>\n

The creditor may use<\/b><\/p>\n

SMEs usually choose the option of financing with a bank loan, which, however, with the threat of losing liquidity and the low value of the company's assets, becomes more difficult to obtain from year to year. And in the case of companies undergoing restructuring<\/a> virtually impossible in court.<\/p>\n

- Restructuring without adequate capital support is sometimes difficult<\/a> or even impossible to implement. Unfortunately, financial institutions are usually not interested in providing support because From the moment the proceedings are initiated, the company is considered to be in restructuring<\/a>, which means an increased risk of cooperation for the bank \u2013 notes Ma\u0142gorzata Anisimowicz, President of PMR Restrukturyzacje SA.<\/i><\/p>\n

However, it happens that the bank does not have adequate security for previously granted loans to the company and then decides to support it with the hope of recovering a larger part of the liabilities. A situation when the financial institution involved in company financing<\/a> there is only one bank. As restructuring specialists emphasize \u2013 these are, however, exceptional, specific situations. Most companies cannot count on such support.
\nRestructuring law comes to the aid of the debtor, securing financial institutions that support the debtor. company under repair<\/a>A creditor who decides to co-finance the debtor may receive more favorable conditions in the composition proceedings.
\nThis is stated in Article 162 section 2 of the Restructuring Law in force since 1 January 2016, which allows for the granting of more favourable conditions restructuring these creditors<\/a>, who, after opening the restructuring proceedings, will provide financing to the debtor \u2013 in the form of a loan, bonds, bank guarantees, letters of credit or on the basis of another financial instrument necessary to execute the arrangement.<\/p>\n

Numerous methods of financing<\/b><\/p>\n

According to restructuring advisers, the most common method of financing ongoing operations is trade credit from counterparties. However, it requires the debtor to rebuild good relationships with its partners.
\nCorporate financing is becoming more and more common<\/a> in repair factoring.
\nFunding for the company's continued operation can also be secured by finding an investor. For this reason, it is important that the restructuring consultant who manages the recovery process has a team of high-calibre professionals with experience in attracting investors.<\/p>\n

- Supporting companies in obtaining financing to secure the implementation of their plans is a priority and basic stage in building the architecture of the restructuring project - says Ma\u0142gorzata Anisimowicz. - Our specialization in the comprehensive service of the restructuring process is acquiring investors, proposing financial support options and analyzing its most effective variants for the company - explains the president PMR Restructuring<\/a> SA Ma\u0142gorzata Anisimowicz.
\nThe financing scenarios take into account both loan financing and debt securities issuance.
\n- The results of our clients' cooperation to date have created partnerships and trust in the proposed range of financial support,\" adds President Anisimowicz.<\/i><\/p>\n

An adviser will help <\/b><\/p>\n

The role of a supervisor or manager in restructuring process<\/a> is invaluable. According to Article 26, Section 1 of the Restructuring Law, the supervisor or managers inform about possible forms of financing and cooperate in order to obtain it. The restructuring advisor also plays an important educational role in relation to financial entities, providing information on the specifics of the proceedings and the risks associated with them.
\nIn addition, through the developed trust of investment funds, resulting from the effects of conducted restructuring proceedings, an advisor providing comprehensive restructuring services both increases the chances of obtaining financing that is favourable in the situation in which the company finds itself and guarantees proper control of the restructuring process, as well as the preparation of the necessary reporting.<\/p>\n

- Looking for an investor on one's own by an entity that has no experience in this area is a big risk. There is no guarantee of success and the lengthy process may lead the company into a larger financial crisis, ending in bankruptcy,' points out Ma\u0142gorzata Anisimowicz.<\/i><\/p>\n

The article appeared in the daily newspaper Rzeczpospolita<\/b>:19 December 2019:\" Funding is key<\/a><\/div>","protected":false},"excerpt":{"rendered":"

Bardzo wa\u017cne przy uzdrawianiu firm sektora M\u015aP jest znalezienie \u015brodk\u00f3w finansowych. Ich brak mo\u017ce doprowadzi\u0107 do umorzenia post\u0119powania restrukturyzacyjnego lub uchylenia uk\u0142adu, co ko\u0144czy si\u0119 upad\u0142o\u015bci\u0105. Firma decyduje si\u0119 na restrukturyzacj\u0119 najcz\u0119\u015bciej wtedy, kiedy jej p\u0142ynno\u015b\u0107 jest zachwiana i nie jest w stanie sp\u0142aca\u0107 bie\u017c\u0105cych zobowi\u0105za\u0144. Nie ma wi\u0119c \u015brodk\u00f3w w\u0142asnych, kt\u00f3re mog\u0142yby wspom\u00f3c jej napraw\u0119. To z kolei, wymaga zapewnienia odpowiedniego poziomu finansowania, pozyskanego ze \u017ar\u00f3de\u0142 zewn\u0119trznych, dotycz\u0105cego nie tylko plan\u00f3w restrukturyzacyjnych, ale tak\u017ce bie\u017c\u0105cej dzia\u0142alno\u015bci. Ratunkiem s\u0105 po\u017cyczki, kredyty kupieckie czy znalezienie inwestora. Wierzyciel mo\u017ce skorzysta\u0107 M\u015aP zazwyczaj wybieraj\u0105 opcje finansowania kredytem bankowym, kt\u00f3ry jednak przy zagro\u017ceniu utraty p\u0142ynno\u015bci i przy niskiej warto\u015bci aktyw\u00f3w przedsi\u0119biorstwa, z roku na rok staje si\u0119 trudniejszy do uzyskania. A w przypadku firmy w restrukturyzacji s\u0105dowej wr\u0119cz niemo\u017cliwy. \u2013 Restrukturyzacja bez odpowiedniego zaplecza kapita\u0142owego niekiedy jest trudna albo wr\u0119cz niemo\u017cliwa do przeprowadzenia. Niestety, instytucje finansowe zazwyczaj nie wykazuj\u0105 zainteresowania udzielaniem wsparcia, poniewa\u017c firma od momentu wszcz\u0119cia post\u0119powania zyskuje miano b\u0119d\u0105cej w restrukturyzacji, co dla banku oznacza zwi\u0119kszone ryzyko wsp\u00f3\u0142pracy \u2013 zauwa\u017ca Ma\u0142gorzata Anisimowicz, prezes PMR Restrukturyzacje SA. Zdarza si\u0119 jednak, \u017ce bank nie ma odpowiedniego zabezpieczenia dla wcze\u015bniej udzielonych firmie kredyt\u00f3w i wtedy decyduje si\u0119 na jej wsparcie z nadziej\u0105 na odzyskanie wi\u0119kszej cz\u0119\u015bci zobowi\u0105za\u0144. Korzystna w uzyskaniu wsparcia instytucji finansowej jest r\u00f3wnie\u017c sytuacja, kiedy zaanga\u017cowany w finansowanie firmy jest tylko jeden bank. Jak podkre\u015blaj\u0105 specjali\u015bci restrukturyzacyjni \u2013 to jednak wyj\u0105tkowe, specyficzne sytuacje. Wi\u0119kszo\u015b\u0107 firm na takie wsparcie nie mo\u017ce liczy\u0107. Z pomoc\u0105 d\u0142u\u017cnikowi przychodzi prawo restrukturyzacyjne, kt\u00f3re zabezpiecza instytucje finansowe wspomagaj\u0105ce zad\u0142u\u017con\u0105 firm\u0119 w naprawie. Wierzyciel, kt\u00f3ry zdecyduje si\u0119 dofinansowa\u0107 d\u0142u\u017cnika, mo\u017ce dosta\u0107 korzystniejsze warunki w post\u0119powaniu uk\u0142adowym. M\u00f3wi o tym art. 162 ust. 2 obowi\u0105zuj\u0105cej od 01.01.2016 r. Ustawy \u2013 Prawo restrukturyzacyjne, kt\u00f3ry dopuszcza przyznanie korzystniejszych warunk\u00f3w restrukturyzacji tym wierzycielom, kt\u00f3rzy po otwarciu post\u0119powania restrukturyzacyjnego udziel\u0105 d\u0142u\u017cnikowi finansowania \u2013 w formie kredytu, obligacji, gwarancji bankowych, akredytyw lub na podstawie innego instrumentu finansowego, niezb\u0119dnego do wykonania uk\u0142adu. Liczne sposoby finansowania Zdaniem doradc\u00f3w restrukturyzacyjnych najbardziej powszechn\u0105 metod\u0105 finansowania bie\u017c\u0105cej dzia\u0142alno\u015bci jest kredyt kupiecki od kontrahent\u00f3w. Wymaga jednak od d\u0142u\u017cnika odbudowania dobrych relacji z partnerami. Coraz cz\u0119\u015bciej spotka\u0107 mo\u017cna finansowanie firm w naprawie faktoringiem. Finansowanie dalszej dzia\u0142alno\u015bci firmy mo\u017cna tak\u017ce zapewni\u0107 dzi\u0119ki znalezieniu inwestora. Dlatego wa\u017cne jest, aby doradca restrukturyzacyjny, kt\u00f3ry zarz\u0105dza procesem naprawy, dysponowa\u0142 zespo\u0142em wysokiej klasy specjalist\u00f3w maj\u0105cych do\u015bwiadczenie w pozyskiwaniu inwestor\u00f3w. \u2013 Wsparcie przedsi\u0119biorstw w pozyskiwanie finansowania dla zabezpieczenia realizacji ich plan\u00f3w stanowi priorytetowy i bazowy etap w budowie architektury projektu restrukturyzacyjnego \u2013 m\u00f3wi Ma\u0142gorzata Anisimowicz. \u2013 Nasz\u0105 specjalizacj\u0105 w ramach kompleksowej obs\u0142ugi procesu restrukturyzacji jest pozyskanie inwestor\u00f3w, zaproponowanie opcji wsparcia finansowego oraz analiza jego najefektywniejszych dla przedsi\u0119biorstwa wariant\u00f3w \u2013 wyja\u015bnia prezes PMR Restrukturyzacje SA Ma\u0142gorzata Anisimowicz. Scenariusze finansowania uwzgl\u0119dniaj\u0105 zar\u00f3wno finansowanie po\u017cyczk\u0105, jak i emisj\u0105 papier\u00f3w warto\u015bciowych d\u0142u\u017cnych. \u2013 Uzyskane efekty dotychczasowej wsp\u00f3\u0142pracy naszych klient\u00f3w pozwoli\u0142y na stworzenie partnerskich relacji i zaufania wobec proponowanego zakresu wsparcia finansowego \u2013 dodaje prezes Anisimowicz. Pomo\u017ce doradca Rola nadzorcy lub zarz\u0105dcy w procesie restrukturyzacji jest nie do przecenienia. Zgodnie z art. 26 ust. 1 Prawa restrukturyzacyjnego nadzorca lub zarz\u0105dcy informuj\u0105 o mo\u017cliwych formach finansowania oraz wsp\u00f3\u0142pracuj\u0105 w celu jego uzyskania. Doradca restrukturyzacyjny pe\u0142ni te\u017c wa\u017cn\u0105 rol\u0119 edukacyjn\u0105 w stosunku do podmiot\u00f3w finansowych, dostarczaj\u0105c informacji na temat specyfiki post\u0119powa\u0144 i ryzyk z tym zwi\u0105zanych. Ponadto poprzez wypracowane zaufanie funduszy inwestycyjnych, wynikaj\u0105ce z efekt\u00f3w prowadzonych post\u0119powa\u0144 restrukturyzacyjnych, doradca zapewniaj\u0105cy kompleksow\u0105 obs\u0142ug\u0119 restrukturyzacji, zar\u00f3wno zwi\u0119ksza szanse uzyskania korzystnego w sytuacji, w jakiej znajduje si\u0119 przedsi\u0119biorstwo finansowania, jak te\u017c daje gwarancj\u0119 w\u0142a\u015bciwej kontroli procesu restrukturyzacyjnego, a tak\u017ce przygotowywania niezb\u0119dnej sprawozdawczo\u015bci. \u2013 Szukanie na w\u0142asn\u0105 r\u0119k\u0119 inwestora przez podmiot, kt\u00f3ry nie ma w tym zakresie \u017cadnego do\u015bwiadczenia, to du\u017ce ryzyko. Nie ma \u017cadnej gwarancji powodzenia, a d\u0142ugotrwa\u0142y proces mo\u017ce doprowadzi\u0107 przedsi\u0119biorstwo do wi\u0119kszej skali kryzysu finansowego, ko\u0144cz\u0105cego si\u0119 upad\u0142o\u015bci\u0105 \u2013 wskazuje Ma\u0142gorzata Anisimowicz. Artyku\u0142 ukaza\u0142 si\u0119 w dzienniku Rzeczpospolita:dnia 19 grudnia 2019:\u00bb Kluczowe jest dofinansowanie<\/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-5879","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\/5879","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=5879"}],"version-history":[{"count":0,"href":"https:\/\/pmr-restrukturyzacje.pl\/en\/wp-json\/wp\/v2\/posts\/5879\/revisions"}],"wp:attachment":[{"href":"https:\/\/pmr-restrukturyzacje.pl\/en\/wp-json\/wp\/v2\/media?parent=5879"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pmr-restrukturyzacje.pl\/en\/wp-json\/wp\/v2\/categories?post=5879"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pmr-restrukturyzacje.pl\/en\/wp-json\/wp\/v2\/tags?post=5879"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/pmr-restrukturyzacje.pl\/en\/wp-json\/wp\/v2\/ppma_author?post=5879"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}