Consumer bankruptcy is a legal mechanism that allows individuals who have become insolvent, meaning they have permanently lost the ability to make timely repayments, to settle their debts. Age is not considered a barrier – retirees and pensioners can use this procedure on the same terms as working or unemployed individuals. The key requirement is demonstrating insolvency and the absence of reasonable grounds for rejection. This type of bankruptcy allows, under certain conditions,...

Tired of late payments? The law is on your side. Many entrepreneurs, especially those in the SME sector, struggle daily with late payments from contractors. Unfortunately, late payment of invoices not only causes cash flow problems but also additional costs and stress. The good news? You are entitled to compensation for debt collection costs – even if you didn't incur any costs, don't use a debt collection agency, or take the case to court.

Debt relief is a complex but crucial process that allows individuals and entrepreneurs to regain financial liquidity, secure their assets, and begin a new phase of their lives or business. Choosing the right debt relief tool depends on many factors, including the legal form of the business, the type of debt, the financial status, and the stage of enforcement. How can we get rid of debt? Below is a summary of possible actions. A few words about the article - Listen Table of Contents: 1....

Wiele firm, które powstały w Polsce w latach 90 XX wieku, w obliczu zmieniającej się rzeczywistości gospodarczej i demograficznej, staje już od kilku lat przed poważnym wyzwaniem braku sukcesji. Nestorzy – założyciele, którzy przez dekady budowali swoje przedsiębiorstwa, często nie przygotowali planu przekazania władzy i majątku następnym pokoleniom. Brak było też często mechanizmów zachęt do przekonania młodszego pokolenia, że warto wspólnie rozwijać biznes, który założyli poprzednicy. Taka...

Are you planning to change your company structure, implement a succession plan, or change your tax model? The latest opinions from the Head of the National Tax Administration (KAS) clearly demonstrate that restructuring with a business justification doesn't have to be treated as tax avoidance. Moreover, it can be assessed as entirely rational and consistent with market standards. CONTENTS: A few words about the article - Listen. What was the subject of the cases? Conclusion: restructuring doesn't have to mean risk. What is a security opinion...

A limited liability company is a relatively "safe" form of business, but not always. A limited liability company is considered one of the safest forms of running a business. It's often associated with the idea that partners and management board members are not liable for the company's debts. This isn't entirely true. In the event of a company's financial problems, partners are safe, but management board members may be liable for the company's debts! Becoming a management board member in a limited liability company is not only...

Why is the National Debt Register (KRZ) a step in the right direction? Although the National Debt Register (KRZ) has been criticized—primarily due to technical issues, a complex interface, and a lack of integration with other systems—it's worth emphasizing that its creation was not only necessary but inevitable. The KRZ has introduced a new level of transparency to economic life in Poland. It's a tool that can and should be developed, but it already offers tangible benefits for entrepreneurs, creditors, and individuals.

Over 2,200 family foundations have already been registered in Poland, and their number is constantly growing. A growing number of registration applications are also awaiting consideration by the Registry Court. By the end of the first quarter of 2025, the number of applications awaiting registration is nearly 1,400. Meanwhile, the reporting period is approaching, raising questions about the obligations of foundations still awaiting registration. Doubts remain as to whether, and to what extent, these entities are required to prepare financial statements,...

The creditors' committee is a key body in bankruptcy proceedings, performing supervisory, advisory, and oversight functions. Its establishment and operations are strictly regulated by the Act of 28 February 2003 – Bankruptcy Law (Journal of Laws of 2024, item 794, hereinafter referred to as the "Bankruptcy Law"). The following article, prepared from the perspective of a bankruptcy law expert, aims to provide a detailed discussion of the role, powers, and procedures related to the creditors' committee. Table of Contents: A few words...

Bankruptcy tourism in Poland: where are the courts operating the fastest? Bankruptcy proceedings in Poland are an important element of the legal system, enabling individuals and entrepreneurs to get out of a difficult financial situation. Bankruptcy proceedings are not only becoming increasingly popular, but also vary in terms of duration and effectiveness depending on the region. Although this procedure is unified by the provisions of bankruptcy law, in practice its course and length vary significantly...