Resumption of deadlines and classification of bankruptcy and restructuring proceedings as a matter of urgency

Resumption of deadlines and classification of bankruptcy and restructuring proceedings as a matter of urgency

At night, from Thursday to Friday 30 April, the Sejm adopted the so-called Anti-Crisis Shield 3.0 (Act of 30 April 2020 on the amendment of certain laws on protective measures in connection with the spread of the SARS-CoV-2 virus). Currently, work on the Act is still in progress in the Senate, but its provisions on restructuring and bankruptcy proceedings are unlikely to change.

The Act contains two solutions important from the point of view of restructuring and bankruptcy proceedings.

Firstly, it provides for the repeal of Article 15zzs of the Act of 2 March 2020 on special solutions related to the prevention, prevention and combating of COVID-19, other infectious diseases and crisis situations caused by them, which introduced suspension of the course of procedural and judicial deadlines for the duration of the epidemiological threat.

Periods that have been suspended under Article 15z shall continue to run and those that have not started running under that provision shall start 7 days after the entry into force of the Anti-Crisis Shield 3.0.

Secondly, it provides for including restructuring and bankruptcy proceedings in the catalogue of urgent cases within the meaning of Article 14a of this Act. According to the new wording of the provision, urgent cases are cases for consideration of a restructuring application and cases conducted after the opening of restructuring proceedings and cases for declaration of bankruptcy and cases conducted after the declaration of bankruptcy (Article 14a Section 4 points 17 and 17a).

This means that in the case of complete cessation of activities by a common court, the president of the appellate court may appoint another equivalent court, located in the area of the same appeal, to hear urgent cases falling within its jurisdiction.

Source: www.sejm.gov.pl/Sejm9.nsf/PrzebiegProc.xsp?id=FFB1A01963B2E1EFC12585580031093C

 

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