In order to reduce debt and preserve their farms, farmers may resort to simplified restructuring proceedings.
The opening of a simplified restructuring procedure offers many possibilities. You can obtain protection against creditors and bailiff enforcement, apply for public aid provided by the Agency for Restructuring and Modernization of Agriculture and apply to the National Center for Agricultural Support in order to obtain a guarantee securing the repayment of the restructuring loan.
In order to properly carry out the simplified restructuring procedure, the farmer needs the support of a restructuring advisor. He will help to protect the interests of the farmer and draw up a restructuring plan, and then try to convince the majority of creditors to approve the arrangement.
Farmers also have the option of declaring bankruptcy, but the simplified restructuring procedure is more beneficial and allows farmers to keep the farm without court intervention. We discussed this topic here.
Source: https://biznes.interia.pl/gospodarka/news-rolnicy-moga-uchronic-sie-przed-egzekucja,nId,5569640
