Konrad Grotowski: articles by this author
Reservation in the sales contract of ownership of the goods until full payment of the purchase price by the buyer increases the security of a supplier of raw materials and semi-finished products to a customer threatened with insolvency.
A company whose obligations exceed its assets should file a bankruptcy petition. If it does not, the creditors may file a petition and then seek to hold the members of the debtor’s management board liable for their claims. A rule that generates lots of practical problems remains in force in Polish bankruptcy law.
Shareholder’s liability for creditor’s loss resulting from subsidiary’s failure to file a bankruptcy petition
The degree to which a company’s creditors are satisfied may depend in large measure on timely filing of a bankruptcy petition. But sometimes the dominant shareholder will pressure the members of the management board to refrain from filing for bankruptcy.
When assets are being removed from a debtor threatened with insolvency, the creditors face a choice of seeking to set aside such transactions independently, or filing a bankruptcy petition and relying on the actions of the bankruptcy trustee.
Konrad Grotowski: The owners of a company threatened by bankruptcy sometimes give in to the temptation to remove assets from the company
An interview with Konrad Grotowski from the Bankruptcy and Restructuring practices at Wardyński & Partners on how creditors can protect themselves against actions by a dishonest debtor.
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.