The best testimony to the quality of our services are the real stories of the people who have experienced them. Each of our clients is a separate story of challenges that have been overcome, goals that have been achieved and dreams that have become reality. We want you to be able to get to know these stories, because they best demonstrate the value we place on working with you. In a dedicated space we will include case studies, a variety of stories - from small companies to large enterprises, from individual clients to complex team projects. Each story is unique, but they have one thing in common: the success achieved through our services. (...)
This article continues the thread of misinformation in consumer insolvency proceedings and the effects this can have. Most acts contain a catalogue of entities to which the provisions contained therein may be applied. The Insolvency Law is no exception to this, as it contains provisions that regulate the scope of entities entitled to use the bankruptcy procedure. The basic division of the bankruptcy institution includes bankruptcy proceedings conducted with respect to entrepreneurs and bankruptcy proceedings conducted with respect to natural persons not conducting business activity. By their very nature, these two types of proceedings are conducted in a different manner and the prerequisites to be fulfilled in order to benefit from these procedures are also different. An important difference consists, inter alia, in the necessity to have assets to cover the costs of the insolvency proceedings and partial satisfaction of creditors, in the case of proceedings conducted against business entities. In contrast, in the case of consumer proceedings, this prerequisite does not exist at all, hence such proceedings may be conducted even if the debtor does not have any assets. It is [...] (...)
Participation in insolvency or restructuring proceedings requires commitment, knowing one's obligations and the tools available to fulfil them. One of the basic principles of law states "ignorantia iuris nocet" which means "ignorance of the law harms". Therefore, with this article, we continue our series in which we will gradually introduce our readers to who is who in restructuring and bankruptcy proceedings. Bankruptcy Trustee Can bankruptcy proceedings be conducted without a Trustee? Both insolvency proceedings - bankruptcy - and the person of the Receiver are shrouded in disrepute. They are often demonised and associated with finality. But are they really? Is it possible to conduct insolvency proceedings without a Receiver? Who is a Receiver? In the simplest terms, a receiver is an organ of insolvency proceedings. The receiver is appointed by the Court in the bankruptcy order. Therefore, his function is exercised from the date of the declaration of bankruptcy until the completion of the bankruptcy proceedings. In the case of entrepreneurial bankruptcy, the court may, prior to the appointment of the receiver, appoint an interim court supervisor who will later assume the function of receiver. Who may [...] (...)
How to implement whistleblower protection legislation? Do you employ more than 50 people on a contract of employment and a contract of mandate? Are you a manager/director of an office and a municipal or district organisational unit with more than 10,000 inhabitants? Implement whistleblower procedures protect yourself from liability! Who must implement the regulations? https://pmr2.ithelp.center/zniknie-co-piaty-lokal-prace-straci-250-tys-osob/Zgodnie under Article 23(1) of the Law on protection of whistleblowers, the regulations must be implemented by: (1) every legal entity (sole proprietorship, company, cooperative, etc.) for which, as of 1 January or 1 July of a given year, at least 50 persons perform gainful employment. When assessing how many people are performing work, one should take into account those employed under a contract of employment (full-time equivalents) and those providing work for remuneration on a basis other than an employment relationship (e.g. under a civil law contract). 2) any organisational unit of local government units, if the municipality or district has a population of at least 10,000. In other words, the local government units that must implement the regulations will be all units [...] (...)
Analysis of data on the phenomenon of company bankruptcy in Europe, according to available records, allows us to conclude that the scale of the phenomenon of bankruptcy in Poland is not as large as in western European countries. Therefore, is bankruptcy as the end of a company's existence perceived in the same way in Europe? Are there tools to protect against bankruptcy and do entrepreneurs use them? In Europe, around 30% of new companies go out of business within the first three years. Within five years, this percentage rises to around 50%. Estimates indicate that annually around 1 in 10 companies may go out of business for various reasons, including bankruptcy. 2024 showed that the number of bankruptcy filings by EU companies has been increasing for six quarters. Compared to the last quarter of 2023, the number of insolvencies rose by 8.4 per cent and thus reached its highest level since data collection began in 2015, Eurostat reported. Analysis of insolvencies by activity shows that all sectors [...] (...)
Over-indebted people experience social exclusion, and this is particularly evident in the financial sphere. Many times, these individuals escape into the shadow economy to hide from bailiff enforcement. Declaring bankruptcy can lead to the discharge of debts with little or no repayment. The purpose of consumer bankruptcy is to help over-indebted people make a fresh start, i.e. to return them to full participation in society. As a matter of principle, bankruptcy should be used in exceptional circumstances and its excessive use could have negative consequences and lead to imbalances in the market. Nonetheless, the vision of writing off debts without having to repay them can be extremely tempting and invite much abuse. In order to prevent abuses and brazen indebtedness, the legislator has introduced restrictions that may effectively discourage those looking for a way to easily get rid of debts. The subject matter in this area is quite extensive, hence the considerations in this regard will be [...] (...)
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PMR Restructuring S.A. @ 2024
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