Selective payment of creditors can be a crime
Arbitrary, selective payment of only certain debts may result in criminal liability of the debtor, including in a case where it is only threatened with insolvency, if such action exposes other creditors to a loss.
When may a creditor assert a fraudulent conveyance action despite the debtor's entering bankruptcy?
A fraudulent conveyance action protects creditors in the event of the debtor’s insolvency. The ability of specific creditors to use this instrument is limited, however, because of the importance of protecting the interests of all creditors.
The creditor's dilemma: Join forces or go it alone?
When assets are being removed from a debtor threatened with insolvency, the creditors face a choice of seeking to set aside such transactions independently, or filing a bankruptcy petition and relying on the actions of the bankruptcy trustee.
Costs imposed on creditors filing claims against the bankruptcy estate
When filing a claim against a debtor in bankruptcy, a creditor must comply strictly with the judicial deadlines, or else face additional costs.
Liability in damages of a member of the management board for failure to file a timely bankruptcy petition for a limited-liability company
A creditor of a company may seek to hold a member of the management board liable in damages if a bankruptcy petition for the company is not filed on time.
Konrad Grotowski: The owners of a company threatened by bankruptcy sometimes give in to the temptation to remove assets from the company
An interview with Konrad Grotowski from the Bankruptcy and Restructuring practices at Wardyński & Partners on how creditors can protect themselves against actions by a dishonest debtor.
Michał Barłowski: A revolution ahead in Polish bankruptcy law
An interview with Michał Barłowski, the partner in charge of the Bankruptcy and Restructuring practices at Wardyński & Partners, about planned amendments to Poland’s Bankruptcy & Rehabilitation Law.
When an airline is short of money: Public aid for air carriers
LOT Polish Airlines is not the only carrier seeking public aid. Airlines in other countries have also been forced to seek state support. Whether the effort succeeds depends primarily on how the aid is assessed by the European Commission.
The Drumet story-from bankruptcy to acquisition by a strategic investor
In the course of the past four years, Drumet, a Polish producer of steel wire, has gone through an interesting series of ownership changes.
Payment gridlock can push a company into bankruptcy
Companies nowadays are frequently late in paying their suppliers, which in turn fall behind in paying their own creditors. But sometimes even a few days’ delay in payment can force a debtor to file a bankruptcy petition.
The Developers Act and its impact on the real estate market in Poland
The Act on Protection of Rights of Buyers of Residential Units and Single-Family Houses of 16 September 2011—popularly known as the “Developers Act”—went into effect recently.
Compliance of the French procédure de sauvegarde with Polish public policy
The Supreme Court of Poland held that recognition of French procédure de sauvegarde in Poland – one of the proceedings to which Regulation No. 1346/2000 applies – leads to a result that is consistent with Polish public policy.
