On September 7 this year, the Ministry of Justice submitted a draft law to the Council of Ministers on National Register of Indebted Persons<\/a>. Contrary to the original plans, the register is to be much broader than originally planned. It will include companies and individuals subject to restructuring or bankruptcy proceedings, as well as debtors who are in arrears with alimony for a period longer than 6 months.<\/p>\n No more paperwork<\/b><\/p>\n The register is to be public and accessible on the Internet for everyone. We will find out from it when the company filed an application to initiate restructuring proceedings<\/a>, which court is handling the case, we will learn the case reference number, the name of the restructuring administrator, the list of receivables, the composition of the bankruptcy estate, and the creditor repayment plan.<\/p>\n An important change introduced by the proposed act is the necessity to file pleadings and documents only by means of an electronic register. The same will happen with court decisions - they will be published only in the ICT system. The courts will also abandon postal deliveries and they will be sent electronically, which will reduce the number of paper correspondence and also shorten the time between issuing a ruling and sending it.<\/p>\n Faster courts, lower costs<\/b><\/p>\n This is to significantly improve the work of district courts and their commercial divisions dealing with restructuring and bankruptcy proceedings, as well as to speed up the processes repair companies<\/a>. The significant reduction in the costs of these proceedings is also significant. Both courts and entrepreneurs will no longer have to publish announcements and notices in the Court and Economic Monitor, which will allow for significant savings in restructuring and bankruptcy proceedings.<\/p>\n Writings Process and documents will be entered into the electronic system using<\/a> available ready-made electronic forms and will have to be certified with a qualified electronic signature. The register will not include cases that were initiated before the Act came into force, which is planned for 1 February 2019. Their documentation will remain in paper form.<\/p>\n Risk of stigmatization companies in restructuring?<\/a><\/b><\/p>\n However, restructuring advisors warn against putting all assets into one register. companies in repair<\/a> and dishonest debtors.<\/p>\n According to Ma\u0142gorzata Anisimowicz, it would be worth changing the name of the register, and if not \u2013 then at least clearly separating a separate "green" subdirectory of restructuring proceedings in the general register, so that those using the register could intuitively and mentally distinguish companies in the process restructuring from yellow bankruptcy alerts<\/a> consumers or businesses, and even more so from red alerts \u2013 concerning dishonest debtors who avoid settling their obligations and who have not paid their receivables for years.<\/p>\n
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