The firm’s team provides effective corporate bankruptcy and restructuring even in a few days with comprehensive support from legal experts.
The firm professionally provides representation and advice on corporate bankruptcy law and restructuring. We make sure that the proceedings run smoothly at every stage. We comprehensively serve the entrepreneur at every stage of the proceedings, drawing on the knowledge and experience of specialists with many years of experience. We help to conduct bankruptcy and restructuring proceedings in such a way as to protect the client as much as possible. We even declare bankruptcies in a few days.
Each client is assigned a dedicated case manager who is at his or her disposal during office hours. Through this, we spread a protective umbrella over our client and his entire case.
Bankruptcy of a company is the inability to pay its obligations to creditors. According to the presumption of the Bankruptcy Law, insolvency occurs if the delay in the performance of monetary obligations exceeds three months from the date of payment of obligations.
If the court declares bankruptcy, the bankrupt loses control of the assets, and a trustee takes over. Once bankruptcy is declared, creditors can only pursue their claims against the debtor through bankruptcy proceedings anymore. Once the bankruptcy estate is liquidated, it will also distribute the funds to creditors. In the case of commercial companies, the termination of bankruptcy proceedings usually means the deletion of the company from the KRS register.
The first cost in the process of declaring a company bankrupt is a court fee of PLN 1,000 on the company’s bankruptcy petition. The bankruptcy petition must also be accompanied by proof of payment of the advance for the expenses of the proceedings. The amount changes each year and is set as one times the average monthly salary in the enterprise sector excluding profit-sharing in the third quarter of the previous year, as announced by the President of the Central Statistical Office.
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Restructuring of a company is a process of collective actions aimed at increasing efficiency, optimizing the use of the company’s existing resources, or improving the entity’s position in the competitive market. Procedure to avoid bankruptcy. In the so-called. Shield 4.0 introduced a tool that has become very popular among Polish companies.
The first step initiating the proceedings is to sign a contract with a restructuring advisor from the firm to supervise the proceedings. Once the supervision agreement is signed, the next step is for the debtor, with the help of the supervisor, to prepare an arrangement – an inventory of claims, an inventory of disputed claims and arrangement proposals. Only when these documents are signed and submitted to the supervisor does it become possible to apply for a notice of simplified restructuring in the Monitor Sądowy i Gospodarczy. The final shape of the arrangement proposals may result from the course of negotiations with creditors. The layout supervisor also decides together with the debtor how to conduct the vote. If you succeed in accepting the arrangement – the debtor should immediately, keeping the deadline of 4 months from the announcement, file an application for approval of the arrangement with the competent court. Failure to apply within this timeframe results in the cessation of protection from enforcement and all the benefits associated with simplified restructuring.
The cost of the simplified restructuring is: the cost of announcements in the MSiG (PLN 500 per announcement), the court fee on the application for approval of the arrangement (PLN 1,000) and the remuneration of the restructuring advisor.
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