Restructuring advisor under the supervision of the Minister of Justice

The Sejm passed an amendment to the Act on the Restructuring Advisor’s Licence. According to the new regulations, which will be in force from 2020, the Minister of Justice will supervise the activities of restructuring advisors and nd will be able to cancel their licenses.

Currently, the licence of a restructuring advisor is granted by the Minister of Justice by way of an administrative decision, and its withdrawal is due to formal reasons (e.g. on the basis of a final decision for an intentional crime).

The activities of restructuring advisors are controlled by the Commissioners’ Judges who, in the event of irregularities in the operation of a restructuring advisor, may admonish the advisor and impose a fine. On the other hand, in the case of lack of improvement in the performance of duties or gross negligence, the Court may dismiss the restructuring advisor. Only as a result of the dismissal of a restructuring advisor by the Court may the Minister of Justice withdraw the licence of a restructuring advisor.

Source: prawo.gazetaprawna.pl/artykuly/1403492,doradcy-restrukturyzacyjni-nazdor-ms-uprawienia.html