Restructuring and bankruptcy
In business, it is best to control the risk of bankruptcy and prepare contingency plans in advance to maximally protect the interests of board members and partners and take the steps required by law in a timely manner, avoiding sanctions for violating them. In many cases, restructuring actions are also possible, which will prevent or postpone the prospect of bankruptcy. Efficient action by creditors allows the entrepreneur to surprise the entrepreneur with bankruptcy applications and often gain greater influence on the debtor in order to protect their interests. The opening of bankruptcy in itself in a situation where the bankrupt entity is involved in many complex legal relationships is also a challenge for trustees, requiring them to make decisions with great caution and prior analysis of their possible consequences. Compulsory management of another person’s enterprise may also be the result of events other than bankruptcy or restructuring. It may result from the opening of restructuring proceedings, enforcement proceedings against the enterprise, or imposition of sanctions on a given entity to counteract aggression against Ukraine, covering the assets under the management of a temporary administrator. In all these cases, complex legal issues arise that must be resolved by the administrator or manager in order to properly fulfill the obligations imposed on them. We provide ongoing support to both the participants/parties of these processes, as well as the trustees, managers, or administrators conducting these various proceedings.
Selected experience
- We have been providing services in the field of civil law, bankruptcy and restructuring law and their interfaces with other areas of law for over twenty years
- We advised trustees on the procedure and course of bankruptcy proceedings, as well as in relation to disputes filed by the bankrupt
- We advised and represented entrepreneurs at the stage preceding the opening of bankruptcy, obtaining the dismissal of bankruptcy applications
- We provided opinions for the working group established within the Financial Stability Committee on issues related to the implementation of the directive regulating the orderly liquidation of banks into Polish law
- The team members provided opinions for the Bank Guarantee Fund on issues related to the course of the orderly liquidation of banks and the impact of the announcement of the orderly liquidation of banks on existing established rights
- The team members provided opinions on the legal nature, permissible scope of activities and the procedure for performing activities by entities managing assets established by the Bank Guarantee Fund as part of the bank restructuring process
- We provided opinions on the legal nature, permissible scope of activities and the procedure for performing activities by the administrator appointed over the energy company as part of the sanctions counteracting support for aggression against Ukraine
- we have acted and continue to act for the largest entities on the market, including banks, local government units, trustees, factoring companies, public institutions, and we also provide external advice to law firms serving entrepreneurs
- we have provided opinions on strategies for court and arbitration proceedings in civil and commercial cases worth up to several dozen billion złoty
We provide
- expert opinions for the internal needs of entrepreneurs, trustees, managers, administrators or for court proceedings
- draft agreements for the preparation of restructuring processes
- risk assessments for internal controls and auditors
- verifications (audits) of compliance with regulations, analysis of legal risks
- development of strategies for restructuring and bankruptcy proceedings
- preparation of documents in bankruptcy and restructuring proceedings
- representation before administrative and supervisory bodies
- representation in court and arbitration proceedings
- participation in arbitration proceedings as an arbitrator