First and foremost, legal entities such as companies, organizations, foundations or local government units cannot declare consumer bankruptcy. There are separate procedures for them.Also, personal bankruptcy is not available to people who have tried to abuse this institution, primarily: 1.concealed income or assets, 2.concealed creditors and the amount of debt, 3.have means and income sufficient..
Month: September 2023
Is it possible to delete an entity from the KRS without conducting liquidation proceedings?
Registry courts across the country are inundated with requests from shareholders or company bodies to remove them from the National Court Register without liquidation proceedings. Some of them are de facto dead entities: neither with assets nor with operations. But the other part are those who want to take advantage of the new regulations to..
How much does a property division case cost?
At the time of filing a petition for the division of joint property with the District Court, such proof of payment of the court fee of PLN 1,000 must be submitted as an attachment, while if the petition includes a consensual proposal for the division of this property – the amount of the fixed fee..
Who bears the court costs in a property division case?
Costs, as a rule, are divided 50/50 between the two parties to the dispute. However, if the participants have different interests in the outcome or their interests conflict, the court may allocate the costs relatively. It should be pointed out, however, that the court fee on the application for the division of joint property should..
How does the process of removing a foundation from the register work?
Once the liquidator has carried out all liquidation activities, he must file an application with the court to remove the foundation from the register. Before doing so, however, he should submit his liquidation report, which also includes a liquidation closing balance sheet, to the relevant foundation body for approval. The relevant body adopts an approval..
What are the disadvantages of declaring consumer bankruptcy ?
However, consumer bankruptcy also comes with negative consequences. The most far-reaching effect is the loss of rights to one’s property. All real estate and valuable movable property shall be used to settle the debt. Moreover, it is very common for the trustee to seize part of the salary. Thus, the debt is not only paid..