Restructuring

  • – Do you have financial problems in your company?
  • – You are unable to pay your debts on time?
  • – Are you losing financial liquidity?
  • – Creditors are suing the company?
  • – The first executions have been initiated against the company?

The Sanators team consists not only of restructuring advisors, legal advisers, attorneys and lawyers, but also recognized specialists in the finance industry, experienced managers, management practitioners, and HR advisers.

In our opinion, the provision of consultancy and legal services in the field of restructuring and bankruptcy must go far beyond the codes and the courtroom itself, successfully use new technologies and knowledge in accounting, marketing, finance and crisis management.

If the entrepreneur fails to restructure in a timely manner – he is in danger of bankruptcy. Only a quick response to the company’s financial problems guarantees the company’s behavior. The legislator has introduced a new opportunity policy for entrepreneurs, which allows the company to introduce appropriate repair and debt relief procedures. A number of solutions have been introduced to speed up and streamline the entire process. Time is important in restructuring. The sooner the change process begins, the greater the chance of success.

Contact

1

Enterprise Analysis

2

Locating problems

3

Choosing the right restructuring procedure

4

Development of the restructuring plan

5

Supervision over restructuring

6

Voting on the agreement
Our analysis of the company’s financial condition will allow us to choose the most favorable debt relief route. As part of the restructuring proceedings, we have 4 modes to choose from:

Arrangement approval procedure

It is the least formalized restructuring procedure that allows the conclusion of an arrangement with creditors as a result of the independent collection of votes by creditors by the debtor without the participation of the court. It may be conducted if the sum of disputed claims entitling to vote on the arrangement does not exceed 15% of the sum of claims entitling to vote on the arrangement.

Course of proceedings

  • Conclusion by the entrepreneur of a contract for supervision over the course of proceedings with a restructuring advisor,
  • Determining the arrangement day and collecting creditors’ votes
  • Voting on the arrangement at the creditors’ meeting
  • Submission to court of approval of the arrangement and its approval by the court
  • Out-of-court performance of the arrangement

Accelerated arrangement proceedings

The accelerated arrangement procedure allows the debtor to enter into an arrangement after the preparation and approval of the list of claims in a simplified manner. It may be conducted if the sum of disputed claims entitling to vote on the arrangement does not exceed 15% of the sum of claims entitling to vote on the arrangement. It allows the entrepreneur to keep his own management over all his assets for the duration of the proceedings, and its opening suspends enforcement proceedings by law.

Course of proceedings

  • Submission of an application for opening accelerated arrangement proceedings,
  • Order to open accelerated arrangement proceedings,
  • Submission by the supervisor of a court restructuring plan, list of claims and list of disputed claims
  • Convening a meeting of creditors by the court and voting on the arrangement
  • Performing the layout

Composition proceedings

Arrangement proceedings allow the debtor to enter into an arrangement after the list of claims has been drawn up and approved. It may be conducted if the sum of disputed claims entitling to vote on the arrangement exceeds 15% of the sum of claims entitling to vote on the arrangement. In proceedings for opening arrangement proceedings, the court may secure the debtor’s assets by appointing a court supervisor. Additionally, already at the stage of examining the application, it is possible for the court to suspend enforcement proceedings conducted to recover claims covered by law by the arrangement, and to cancel the attachment of a bank account if it is necessary to achieve the objectives of the proceedings.

Course of proceedings

  • Filing of an application to open arrangement proceedings
  • Order to open arrangement proceedings
  • Submission of a judicial restructuring plan and inventory by the supervisor
  • Convening a meeting of creditors by the court and voting on the arrangement
  • Approval of the agreement by the court
  • Performing the layout.

Remedial proceedings

Remedial proceedings allow the debtor to carry out remedial measures and conclude an arrangement after the inventory of receivables has been drawn up and approved. Remedial actions are legal and factual actions that aim to improve the economic situation of the debtor and are aimed at restoring the debtor’s ability to perform his obligations, while protecting against enforcement. Remedial proceedings allow for deep restructuring of employment, withdrawal from unfavorable contracts and sale of unnecessary assets with the effect of enforcement sale.

Course of proceedings

  • Submission of an application to open remedial proceedings
  • Order to open recovery proceedings
  • Submission of a restructuring plan and inventory by the administrator
  • Convening a meeting of creditors by the court and voting on the arrangement
  • Approval of the agreement by the court
  • Performing the layout.

Customer benefits

Enterprise behavior

Professional company management

Agreement with creditors

Nasze zasady

Restructuring is the reconstruction of an enterprise, the introduction of processes into the company that enable it to continue to operate on the market. It is most often used to protect a company from bankruptcy or to stimulate it to grow. Corrective restructuring is a time-consuming process and requires a number of difficult decisions to be made. The existing system under which the company operated is being destroyed so that it is possible to build a new one, appropriate to the current market environment.

Restructuring proceedings may be conducted against an insolvent or threatened with insolvency. The debtor is insolvent if he has lost the ability to perform his due financial obligations. It is presumed that the debtor has lost the ability to perform his due monetary obligations if the delay in the fulfillment of monetary obligations exceeds three months. A debtor at risk of insolvency should be understood as a debtor whose economic situation indicates that he may soon become insolvent.

The fee for an application to open a restructuring procedure is PLN 1,000. In the case of a simplified application to open a remedial procedure, the fee is PLN 200. This amount does not include the costs of preparing an application by a professional and representation before a bankruptcy court.

According to the statutory statutory deadlines, the restructuring procedure should be opened very quickly. Accelerated arrangement proceedings should be opened within 1 week of the date of submission of the application. On the other hand, composition proceedings and remedial proceedings should be opened within 2 weeks from the date of submission of the application, unless the court deems it necessary to hold a hearing. In this case, the application should be considered within 6 weeks. Practice shows, however, that the actual opening dates are 4-8 weeks. It is therefore very important to prepare error-free applications for the opening of proceedings so that these deadlines do not extend due to formal shortcomings.

Is a natural person, a partnership (whose partners have a restructuring advisor license) or, ultimately, a commercial company (whose management board members have a restructuring advisor license) who has been appointed by the court or debtor (with the participation of creditors representing 30% of the total amount of receivables) to manage the company in progress sanitation proceedings. The manager takes over the management of the sanation mass, manages it, prepares and then implements the restructuring plan. Its purpose is to carry out remedial actions, i.e. legal and factual actions that will allow the company to restore the possibility of satisfying its operating costs on an ongoing basis. The manager carries out activities on his own behalf, but for the debtor's account.

Is a natural person with a restructuring advisor license or a commercial company whose representatives have a restructuring advisor license. In the course of restructuring proceedings, a restructuring advisor may act as a system supervisor, court supervisor or administrator, and in bankruptcy proceedings as a trustee. By definition, it is an entity that provides restructuring advisory services and helps debtors to save an enterprise or entity acting by court's choice.

The restructuring plan contains a detailed description of the way the entrepreneur intends to rebuild his company and justification for just such a choice. A business owner may use one or several restructuring methods, i.e. restructuring of entrepreneur's assets, restructuring of liabilities, or employment restructuring. These are goals and actions, written down in one document, that should be taken to achieve them. The restructuring plan organizes the entire process, allows you to identify the most important problem and focus on its solution. The preparation of a restructuring plan somehow forces the management to act consistently and makes it easier for them to make consistent decisions.

Why us?

1. We perform the functions of trustee, supervisor and manager, so we know exactly the procedures

2. We form a group of over 20 specialists in the field of bankruptcy law, including restructuring advisors, legal advisors, lawyers

3. We will successfully bring your case to an end

4. We will guide you through all stages of restructuring

5. We know how to supervise the work of a trustee, supervisor or manager

6. We will advise you which actions are effective and which are not