Bankruptcy law changes in 2016

Bankruptcy law is going to change on Jan 1st 2016 in Poland. Entrepreneur whose company is looking at the insolvency will not need to wait until all the assets are sold out by the receiver. Apart from introduction of many changes in the current procedures the new law also consists of many new legal solutions that aim at successful company restructuring.

One of the main newly introduced procedures is a so called pre-packaged insolvency which is currently being implemented into legal systems of many countries (this solution is already being used in the US). This procedure allows fast sale of the enterprise instead of standard liquidation. The sale does not require approval of the court of creditors which allows the company to deal with bankruptcy much more faster then before.

Such fast reaction to the financial problems of companies is considered to be beneficial for both the company and its creditors as long lasting bankruptcy only cause the loss of the value of the enterprise and its assets. It also allows a potential investor to favorably acquire debt free enterprise or its part. Fast sale of a running business should ensure its continuity and as a result attract higher bids from the interested investors as they will not need to take into consideration loss of value and credibility of the acquired business.

Business Implications for Poland

Economic and regulatory developments in Poland have broad implications for businesses operating in the country. Poland’s economy, the largest in Central and Eastern Europe, continues to attract international investors and entrepreneurs seeking EU market access, competitive costs, and a skilled workforce of over 17 million workers.

For foreign companies and entrepreneurs doing business in Poland, staying informed about economic trends, regulatory changes, and market dynamics is essential for strategic decision-making. Whether you are considering entering the Polish market, expanding existing operations, or optimizing your corporate structure, professional advisory support can help navigate the complexities of the Polish business environment.

Poland offers a comprehensive business infrastructure including special economic zones with tax incentives, a well-developed banking system, modern office space in major cities, and a legal framework aligned with EU standards. These factors, combined with Poland’s strategic geographic position between Western and Eastern Europe, make it an attractive hub for businesses targeting the broader European market.

If you are doing business in Poland or considering entering the Polish market, Zalewski Consulting can help. Learn more about our bank account opening services, or contact us for a free consultation.