It may happen in life that debts begin to take control of your life, and you have lost the sense of financial security because fortune can be variable, capricious, and erratic. Every entrepreneur must deal with the unpredictability and uncertainty of the market, changes in economic conditions, or simple human errors. The restructuring process is a solution for those entrepreneurs who have difficulties in repaying their obligations.

Many companies realize the need for restructuring too late, when there are fewer options, and saving the company may be difficult. The restructuring process can be conducted both for an insolvent debtor and a debtor at risk of insolvency. The aim of the restructuring process is to reduce the total debt of the company and regain conditions for conducting operational activities. The essence of all restructuring proceedings is for the debtor to enter into an agreement with creditors, allowing for the restructuring of existing obligations through, for example:

• reducing the amount of debt,
• deferring payment deadlines,
• spreading the repayment in installments,
• converting receivables into shares or stocks,
• changing, altering, or revoking the security right for a specific receivable. 

Implementing a restructuring procedure allows for the protection of the company from enforcement or securing proceedings both during the procedure and after the agreement has been concluded, while also remembering to settle current obligations. Types of restructuring proceedings include:

• approval of an agreement procedure, which has an advantage over other proceedings in that a request is made to the court to approve an agreement that has already been accepted by creditors during the procedure. In other proceedings, a request must first be made to the court to open the procedure, and only after its positive consideration can the procedure for voting on the acceptance of the agreement begin.
• expedited arrangement procedure, the essence of which is a simplified procedure.

If the request to open and conduct an expedited arrangement procedure is positively considered, the debtor obtains immediate protection against enforcement actions, and the court appoints a court supervisor.

• Arrangement procedure, during which in the decision to open the arrangement procedure, the court appoints a court supervisor who determines the composition of the arrangement estate by preparing an inventory list and submits a restructuring plan to the commissioner judge that includes the restructuring proposals presented by the debtor, as well as a list of receivables. The debtor can carry out ordinary management activities during the procedure, but must obtain the court supervisor's approval to exceed the specified scope of actions.
• Sanitation procedure, which, in addition to concluding an agreement, also involves implementing solutions to enable more efficient operation of the company, with the debtor losing management control over their enterprise to a trustee.

The choice of restructuring method is preceded by a comprehensive analysis of the company's debt structure, asset value, and depends on the client's capabilities and expectations. We provide full legal and economic support during the procedure, especially in preparing arrangement proposals, drafting an initial restructuring plan, restructuring plan, and conducting a private creditor test.

Bankruptcy petition - In a situation where the legal and economic analysis of the company does not indicate successful restructuring proceedings, the law firm can prepare a bankruptcy petition for the company. The debtor is obliged to file a bankruptcy petition in court no later than 30 days from the date on which the grounds for declaring bankruptcy arose.

Consumer bankruptcy - a solution for individuals who want to safely get out of debt and rebuild their lives. Consumer bankruptcy proceedings conducted in court aim to determine to which creditors, in what amounts, and on what terms you will be obligated to repay your debts, taking into account your earning capabilities and family living costs. In most cases, this means that you can not only expect debts to be spread out in installments but also significantly reduced. The repayment plan for creditors can last up to a maximum of 7 years.

The law firm represents both creditors and debtors.

1. Restructuring advisory: We assist entrepreneurs in analyzing and evaluating their financial situation and developing a restructuring strategy that will enable them to regain stability and profitability in their operations.
2. Bankruptcy proceedings: We represent both debtors and creditors in bankruptcy proceedings. We offer comprehensive assistance from the moment of filing a bankruptcy petition until the conclusion of the proceedings.
3. Negotiations with creditors: In case of difficulties in repaying obligations, we represent our clients in negotiations with creditors to obtain favorable repayment terms and avoid bankruptcy proceedings.
4. Business reorganizations: We assist businesses in organizational, financial, and operational restructuring to enhance operational efficiency and cost optimization. We prepare reorganization plans considering all business and legal aspects to provide our clients with a solid foundation for further development.
5. Protection of creditors' interests: In the event of bankruptcy declaration, our task is to represent the interests of creditors in the debt recovery process. We act effectively and decisively to ensure our clients receive the highest financial compensations.

As part of our legal service, we offer:

• Advisory on the management's liability in case of insolvency, comprehensive support in securing the interests of board members
• Strategic advice aimed at minimizing all risks associated with bankruptcy
• Substantive support in making decisions on initiating restructuring proceedings
• Advisory in choosing the path of restructuring proceedings
• Advisory in searching for investors for liquidation purposes (so-called "pre-pack")
• Legal advice regarding potential ineffectiveness of actions taken by the debtor
• Mediation between creditors, support in reaching a settlement in restructuring proceedings
• Representation in procedural matters in restructuring and bankruptcy proceedings