The simplified restructuring will remain permanent

The simplified restructuring will remain permanent

Work is underway to introduce the simplified restructuring permanently.

In June, a year will pass from the moment of enriching the current catalog of restructuring proceedings with another type, namely simplified restructuring proceedings. It was assumed that the possibility of taking advantage of this type of restructuring would expire in June 2021. It turned out, however, that this new type of restructuring enjoys growing interest resulting from a number of attributed advantages and benefits, the most common of which are:

  • limited role of the court,
  • lower cost burden,
  • speed of proceedings.

This prompted us to take appropriate steps to introduce this solution permanently into the legal system. As a result, an appropriate bill has already been drafted, which took into account some of the reservations noticed in the course of the practical application of this restructuring.

Nevertheless, it is not only the entrepreneurs who have noticed the need for the restructuring mode as a factor contributing to its anchoring. The EU second chance directives require Poland to implement pre-trial preventive restructuring.

Source: https://edgp.gazetaprawna.pl/e-wydanie/57918,8-kwietnia-2021/72686,Gazeta-Prawna/751168,Narzedzie-porozumienia-sie-z-wierzycielami-jest-potrzebne.html

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