Things to bear in mind when retaining title to goods sold
A seller may secure payment of the purchase price by reserving title to goods in the sale agreement, even if the goods are delivered to the buyer. Reservation of title must be made in writing with a certified date.
Where there's a will there's a way
The Notarial Register of Wills, recently rolled out by Poland’s National Council of Notaries, makes it easier for creditors to locate a will and establish the legal successors of a deceased debtor.
European order for payment
Anna Zielińska from the Dispute Resolution and Arbitration practice group at Wardyński & Partners explains how to pursue undisputed monetary claims against foreign debtors.
Release of registered pledge by the pledgee as grounds for lapse of pledge
A registered pledge lapses when the pledgee submits a statement releasing the pledge, explains Dr Jarosław Grykiel from the Transactions group at Wardyński & Partners. Deletion of the pledge from the register is merely a declarative act.
Stronger position of creditors
It may be possible to obtain quicker, cheaper payment of debts secured by a bank guarantee, insurance guarantee, bank letter of credit or bank surety.
Better to file petition to enforce claim before the debtor is declared bankrupt
Sometimes creditors put off commencing an action to enforce a claim when it could worsen the debtor’s financial position. As a result, they must wait until the bankruptcy proceeding is over before filing suit.
