Assignment of receivables and effective satisfaction of lenders' secured claims
Under an amendment to the Bankruptcy Law, the position of a lender holding an assignment of the borrower’s receivables in the event of the borrower’s bankruptcy has changed, but the application and effects of the amendment in practice remain unclear.
![Assignment of receivables and effective satisfaction of lenders' secured claims](/upload/thumb/wordpress/2017/03/135_new_auto_800x800.png)
Sejm passes "Developers Act"
On 31 August 2011 the lower house of the Polish Parliament adopted the Act on Protection of the Rights of a Purchaser of a Residential Unit or Single-Family House, which is intended to improve the legal standing of customers of real estate developers.
![Sejm passes "Developers Act"](/upload/thumb/wordpress/2017/03/167_new_auto_800x800.png)
Easier to file for bankruptcy
An amendment to the Polish Bankruptcy Law went into effect on 22 December 2010, giving debtors a chance to supplement deficient bankruptcy petitions while maintaining the original filing date.
![Easier to file for bankruptcy](/upload/thumb/wordpress/2017/03/166_new_auto_800x800.png)
Wardyński & Partners represents Law Debenture Trust in settlement with Elektrim
On 14–15 December 2010 the English company The Law Debenture Trust Corporation p.l.c. concluded a settlement with Elektrim S.A. for payment of a significant amount of over EUR 185 million in claims.
![Wardyński & Partners represents Law Debenture Trust in settlement with Elektrim](/upload/thumb/wordpress/2017/03/344_new_auto_800x800.png)
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.
![Better to file petition to enforce claim before the debtor is declared bankrupt](/upload/thumb/wordpress/2017/03/67_new_auto_800x800.png)