Is there a need for a special insolvency law

Is there a need for a special insolvency law

The war in Ukraine is the source of the economic crisis. As a result, the risk of structural corporate insolvency is growing.

According to Rafał Adamus, professor at Opole University, we need to think about what to do with the inefficiency of the National Debtors Register. The system lacks many functionalities and generally does not work as it should. In this situation, a substitute regulation should be adopted.

Moreover, it is worth considering the introduction of special regulations on insolvency in case of emergencies. This could be a solution that would be triggered only when necessary.

In case of an emergency, the interest of the national economy is of particular importance. It is then important to maintain the economic activity of taxpayers. Special insolvency provisions should create instruments that minimize the impact of damage to supply chains and customers. In addition, the procedures for the transfer of productive assets must be accelerated and simplified. This refers to the situation when it is transferred by an insolvent entrepreneur to another entity that is capable of conducting production.

Source: https://www.prawo.pl/biznes/czy-potrzebujemy-przepisow-o-niewyplacalnosci-wz-wojna-w-ukrainie,514039.html

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