'Pre-packs in Poland: 18 months on' by Karol TATARA, Marcin KUBICZEK and Mateusz KALINSKI

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The pre-packaged liquidation/administration proceedings often shortened simply to ‘pre-packs’ – have been in force in the Polish Insolvency Law framework since 1 January 2016. Pre-packs are, in Poland, judicial proceedings, where the decision whether to approve salepurchaseconditions is made by the Bankruptcy Court, together with the decision regarding declaring bankruptcy. The main feature of pre-packs is the possibility to sell the insolvent debtor’s assets to the investor, within bankruptcy proceedings, without auction or tender. Prepacks are intended for selling the enterprise as a going concern, with execution sale effect, meaning that the investor is not liable for old liabilities and commitments of the debtor.

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