Jarosław Hein

Attorney at Law, Tax adviser (Poland)
Associate Partner
Phone: +48 32 330 12 07

The Polish Restructuring Act of 15 May 2015 (Journal of Laws of 2015, item 978) came into force on 1 January 2016. The main goal of the new act is to introduce effective mechanisms for restructuring a debtor's enterprise and avoiding his bankruptcy and liquidation. In this section we are going to explain the available restructuring processes and when they can be followed to ensure the right choice for a specific enterprise in a specific financial situation. This is particularly important as keeping the debtor's enterprise running is often much better for creditors than liquidation. In addition, further existence of the debtor's enterprise has socially and economically positive consequences because it keeps jobs and generally allows further fulfilment of contracts. The Restructuring Act amended also the Bankruptcy and Rehabilitation Act (now the Bankruptcy Act) which no longer governs the restructuring of enterprises that face insolvency. However, the key concepts and rules of the restructuring process remain unchanged. Nevertheless, in this respect too you will find here useful information to help you navigate through the bankruptcy process smoothly. We would be glad to help you solve your specific problems and to offer comprehensive legal and tax advice in our offices in Cracow, Gdansk, Gliwice, Poznan, Warsaw and Wroclaw.