Implementation of the second chance directive

Implementation of the second chance directive

Steps should be taken to implement the Second Chance Directive.

The EU directive, known as the second chance, is designed to make significant changes to the restructuring law. Its implementation was to take place in Poland in July this year, but due to actions taken by the Polish government, this date was postponed by a year. Nevertheless, experts claim that certain steps have already been taken in the scope of gradual implementation of some solutions, namely: introducing simplified restructuring proceedings into the legal order and planning the launch of the National Register of Debtors. Experts emphasize that the provisions of the directive should not be perceived in terms of a revolution, but an evolution aimed at accelerating certain procedures, and thus improving restructuring proceedings. Therefore, representatives of the National Chamber of Restructuring Advisors and INSO – Bankruptcy and Restructuring Law Section asked the Ministry of Justice to appoint an interdisciplinary advisory team, which would be entrusted with the task of developing the implementation of the directive.

Source: https://www.gazetaprawna.pl/firma-i-prawo/artykuly/8202957,prawo-restrukturyzacyjne-dyrektywa-drugiej-szansy.html

 

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