Restructuring law

An insolvent debtor (or one threatened with insolvency) who is an entrepreneur may avoid declaring bankruptcy by concluding an arrangement with his creditors under the restructuring procedure.

The Restructuring Law provides for 4 separate types of such proceedings:

• proceedings for approval of the arrangement
• accelerated arrangement proceedings
• composition proceedings
• restructuring proceedings

Each of them is characterized by different attributes that determine what procedure will be most beneficial for a given entrepreneur (depending on the degree and form of his financial problems). It should be remembered that the purpose of all the above-mentioned restructuring proceedings is to conclude an arrangement with the debtor's creditors, which usually provides for partial cancellation of his debts. It should not be forgotten that the implementation of the new chance policy significantly reduces the stigma attached to bankruptcy proceedings.

The office prepares for entrepreneurs appropriate restructuring applications and other documents constituting the basis for initiating the proceedings, including restructuring plans and arrangement proposals. Due to the fact that effective restructuring of the enterprise requires constant activity of the debtor, being aware of the essence of decisions made by entrepreneurs during the restructuring proceedings themselves, we provide ongoing economic and legal advice after the proceedings have been opened, including advising and representing entities in the area of establishing repayment plans.

We base our competences in the field of restructuring on permanent cooperation with one of the leading restructuring law firms, including restructuring advisors with extensive experience, thanks to which we share the experience of dozens of restructuring and bankruptcy proceedings.