New amendments to Polish bankruptcy law were recently introduced through the so-called Shield 2.0 legislation. According to the Insolvency Law Act, an insolvency motion must be submitted within 30 days from the day on which the grounds to declare bankruptcy occurred.

Shield 2.0 sets out exceptions from this principle, provided that two conditions are met:

Location:

The simplified proceedings for the approval of an arrangement (postępowanie o zatwierdzenie układu) is the newest restructuring procedure available under Polish law.

It was introduced to the Polish legal system by the so-called Shield 4.0 enactment (ie Act of 19 June 2020, Journal of Laws of 2020, item 1086).

Here's a round-up of the key information you need to know about Poland's new simplified restructuring procedure.

How do the simplified proceedings work?

Location:

Bankruptcy and restructuring law in Poland is undergoing considerable modernisation, as demonstrated by the following:

Location:

New amendments to Polish bankruptcy law were recently introduced through the so-called Shield 2.0 legislation. According to the Insolvency Law Act, an insolvency motion must be submitted within 30 days from the day on which the grounds to declare bankruptcy occurred.

Shield 2.0 sets out exceptions from this principle, provided that two conditions are met:

Location:

Bankruptcy and restructuring law in Poland is undergoing considerable modernisation, as demonstrated by the following:

Location: