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Taylor Wessing
Welcome to the latest edition of RCR update summarising what we think are the more interesting recent legal developments in restructuring and corporate recovery
Poland
TMF Group
From structuring your business to dealing with taxes, labour and making the most of available incentives.
Wolf Theiss
New provisions to the Code of Civil Procedure are intended to facilitate the recovery of creditor claims and to strengthen the protection of creditors after judgement validation.
Wolf Theiss
Developers initially claimed that the government's concerns about the market were misplaced and its pro-consumer approach would negatively influence their business.
Schoenherr Attorneys at Law
Poland's parliament recently adopted a new restructuring law (the "Bill") which will substantially change the country's economic environment.
Schoenherr Attorneys at Law
The Polish parliament is working on a new restructuring law that could substantially change Poland's economic environment.
Schoenherr Attorneys at Law
When a company is in distress, the most certain way to get financing required to avoid its bankruptcy is to ask its shareholders.
Zimmerman i Wspólnicy Sp.K
Most entrepreneurs deal with a company in financial difficulties at some point of their business activity.
Schoenherr Attorneys at Law
According to article 11 of Poland’s Bankruptcy and reorganisation law as of 28 February 2003 (Journal of laws 2009, No. 175, position 1361, as amended), a debtor who is a legal person (including, in particular, a limited liability company) is considered to be insolvent when the value of its liabilities exceeds the value of its assets, even if the debtor continues to pay its liabilities (balance sheet insolvency).
Soltysinski Kawecki & Szlezak
Continuing with an examination of insolvency regulations in Poland, one could ask a tricky question: it is obvious that an entity will be deemed insolvent if it fails to satisfy (discharge) its due and payable obligations, but could an entity that does perform its obligations duly and in a timely manner be deemed insolvent as well?
CMS Cameron McKenna Nabarro Olswang LLP
From 1 January 2012, foreign entity performing business in Poland through a branch office will be required to complete a liquidation procedure, in accordance with the provisions of the Polish commercial companies code concerning the liquidation of a limited liability company, to close down its Polish branch.
Schoenherr Attorneys at Law
Previously, the bankruptcy of a company seated in Poland was exclusively a matter of meeting the relevant criteria and following the procedural rules provided in the domestic insolvency law.
CMS Cameron McKenna Nabarro Olswang LLP
On 31 March 2009, a new concept of consumer bankruptcy will be introduced, making it possible for individual debtors who are not engaged in business activities to be declared bankrupt.
CMS Cameron McKenna Nabarro Olswang LLP
Changes to insolvency laws have been signed by the President and will come into force 30 days after publication.
Europa Plus
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