insolvency and restructuring
An amendment to the Polish Bankruptcy Law went into effect on 22 December 2010, giving debtors a chance to supplement deficient bankruptcy petitions while maintaining the original filing date.
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.
Sometimes creditors put off commencing an action to enforce a claim when it could worsen the debtor’s financial position. As a result, they must wait until the bankruptcy proceeding is over before filing suit.