Anti-crisis shield 2.0 not for everyone

The introduced provisions of the anti-crisis shield 2.0 were supposed to enable financial support for entrepreneurs whose activities are threatened by the COVID-19 coronavirus epidemic. However, according to experts, the provisions of the act may lead to even more bankruptcy of entrepreneurs.

According to the provisions of the Act, they do not apply to entrepreneurs against whom bankruptcy has been declared and entrepreneurs against whom restructuring proceedings have been opened. On the other hand, in the case of entrepreneurs with respect to whom the above mentioned applications have been submitted, the procedure for granting support specified in the Act is suspended until they are legally examined.

The experts indicate that as a result of the impact of the coronavirus, many enterprises will have problems with liquidity, which is the basis for submitting an application for restructuring, and at the same time constitutes a basis for exclusion from the possibility of benefiting from aid. Entrepreneurs who act honestly and file for restructuring or bankruptcy automatically deny themselves the possibility to benefit from financial aid resulting from the anti-crisis shield. The same situation will be obtained when the entrepreneur’s creditor files an application for bankruptcy or the opening of the cure procedure in order to force the entrepreneur to make a disputed payment.

The initiators of the draft act indicate that the introduced provision is to cause the aid “to be directed only to those entrepreneurs who, as a result of the introduced restrictions related to COVID-19, found themselves in a difficult financial situation, although they have not yet fulfilled the bankruptcy or restructuring conditions referred to in separate regulations”.

Source: biznes.gazetaprawna.pl/articles/1468133,shield-anti-crisis-restructuring-a-potem-upadlosc.html