enforcement of claims
Until now, it has been distinctly easier for banks in Poland to secure and later enforce their receivables than for other creditors. Will a new amendment to the Banking Law change this?
A fraudulent conveyance action protects creditors in the event of the debtor’s insolvency. The ability of specific creditors to use this instrument is limited, however, because of the importance of protecting the interests of all creditors.
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.
The penal sanction of the duty to redress loss or provide satisfaction for injury, which may be imposed on a dishonest debtor by the criminal court, protects the interests of creditors.
An interview with Jan Ciećwierz, a partner Wardyński & Partners, on how debtors avoid paying their obligations and how the law protects creditors from such actions.
In deciding whether to accept an inheritance, either where there is no will or on the basis of a will, it is worth remembering that a successor who inherits an estate assumes rights, as well as liabilities of a deceased existing at the moment of death.