insolvency and restructuring

Easier to file for bankruptcy

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.

Wardyński & Partners represents Law Debenture Trust in settlement with Elektrim

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.

Better to file petition to enforce claim before the debtor is declared bankrupt

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.