{"id":5768,"date":"2016-08-25T03:57:23","date_gmt":"2016-08-25T01:57:23","guid":{"rendered":"http:\/\/pmr-restrukturyzacje.local\/pmr\/postepowanie-sanacyjne-riposta-na-kryzys\/"},"modified":"2025-01-25T17:45:24","modified_gmt":"2025-01-25T17:45:24","slug":"the-remedial-action-is-a-response-to-the-crisis","status":"publish","type":"post","link":"https:\/\/pmrsa.pl\/en\/the-remedial-action-is-a-response-to-the-crisis\/","title":{"rendered":"Sanitation proceedings a riposte to the crisis"},"content":{"rendered":"

Why are companies increasingly choosing to sanction their operations? It gives companies the widest range of protection available against creditors, as well as the largest number of legal instruments dedicated to operational and financial restructuring. Once sanctioning proceedings have been opened, no creditor can conduct enforcement proceedings.<\/p>\n

According to Anna Maria Pukszto of Dentons, the number of sanctions proceedings on the trading floor will increase. Entities whose shares are traded by investors, just like any other company, are exposed to the downturn or the often debatable opinions of the tax authorities.<\/p>\n

Take to calm waters<\/b>
\nThe opening of sanction proceedings in Action is a response precisely to the decisions issued by the tax authorities, which are, in the opinion of the IT distributor's management, unfair.<\/p>\n

- They resulted in a weakening of our reputation in the eyes of banks, insurers and suppliers. They have therefore created a real threat to the interests of the company, its shareholders, contractors and employees,\" explains Piotr Bielinski, Action's CEO.<\/div>\n

Hawe is at a different stage. On the company administrator's motion to initiate the restructuring proceedings was filed by the court<\/a> written off. The administrator claims that the rehabilitation has no effect in this case companies of opportunity<\/a> Good luck. The board of the fiber-optic company has a different opinion. They disagree with the court's decision and intend to file an appeal.<\/p>\n

- We believe that the sanitation proceedings will stabilise the company's financial situation,\" emphasises Pawe\u0142 Paluchowski, CEO of Hawe.\n<\/div>\n

The situation is even different at Kerdos. The law firm PMR Restrukturyzacje, which is the administrator in the sanctioning proceedings of this company, has submitted an inventory of the company's debts to the commissioning judge.<\/p>\n

\u2013 Creditors have the right to file objections to this document if they believe that the company's books do not reflect the actual debt \u2013 explains Maciej Roch Pietrzak, president PMR Restructuring<\/a>.\n<\/div>\n

He hopes that Dayli drugstore chain<\/a>, which belong to Kerdos, will be able to lead to calm waters thanks to, among other things, a reduction in operating costs.<\/p>\n

Bankruptcy will not be<\/b>
\nBaltic Ceramics and LZMO - part of the industrial holding company IndigoTech Minerals, whose shares are listed on the regulated market - are also in trouble. LZMO is unable to service its bonded debt, while Baltic is counting on protection from the suppliers it wants to repay, but is seeking to spread the liabilities over time. - We are awaiting the opening of sanitation proceedings. Indigo is not in danger of bankruptcy,\" assures Dariusz Janus, president of IndigoTech Minerals.<\/p>\n

Opinion<\/b>
\nAnna Maria Pukszto, legal advisor, Dentons No doubt we can expect more sanction proceedings of listed companies. Listed companies, like all entrepreneurs, are exposed to the negative impact of phenomena and events such as economic downturn, changes on the currency market, limited access to cheap sources of financing, embargoes, regulatory changes introducing new restrictions for a specific sector (here the example of wind farms may be referred to). On an individual level, the source of financial problems is not necessarily only business failures, but also specific events such as lost lawsuits, imposed administrative fines or tax refund decisions.<\/p>\n

\nThe material appeared on the website:
\n<\/b>
\n21 August 2016:
\n\" Sanitation a riposte to the crisis<\/a>\n<\/div>","protected":false},"excerpt":{"rendered":"

Why are businesses increasingly opting for business restructuring? It provides companies with the broadest possible scope of protection from creditors, as well as the largest number of legal instruments dedicated to operational and financial restructuring. After the initiation of restructuring proceedings, no creditor can initiate enforcement proceedings. According to Anna Maria Pukszto of Dentons, the number of restructuring proceedings on the stock exchange will increase. Entities whose shares are traded by investors, like any other company, are vulnerable to economic downturns and the often controversial opinions of tax authorities. Guiding Action to Peaceful Waters: The initiation of restructuring proceedings at Action is a response to decisions issued by tax offices, which the IT distributor's management board considers unfair. "They have weakened our reputation in the eyes of banks, insurers, and suppliers. They have therefore created a real threat to the interests of the company, its shareholders, contractors, and employees," explains Piotr Bieli\u0144ski, CEO of Action. Hawe is at a different stage. At the request of the company's administrator, the restructuring proceedings were discontinued by the court. The administrator claims that the restructuring has no chance of success for this company. The management board of the fiber-optic company takes a different view. They disagree with the court's decision and intend to file an appeal. "We believe that the restructuring proceedings will stabilize the company's financial situation," emphasizes Pawe\u0142 Paluchowski, president of Hawe. The situation is even different at Kerdos. PMR Restrukturyzacje, the law firm acting as administrator in the company's restructuring proceedings, has submitted a list of the company's receivables to the judge-commissioner. "Creditors have the right to object to this document if they believe that the company's books do not reflect the actual debt," explains Maciej Roch Pietrzak, president of PMR Restrukturyzacje. He hopes that the Dayli drugstore chain, owned by Kerdos, will be able to steer the market afloat thanks to, among other things, reduced operating costs. Bankruptcy will not be possible. Baltic Ceramics and LZMO, both part of the industrial holding IndygoTech Minerals, whose shares are listed on the regulated market, have also found themselves in trouble. LZMO is unable to service its bond debt, while Baltic is counting on protection from suppliers, whom it wants to repay, but is seeking a time-based arrangement. "We are waiting for the initiation of restructuring proceedings. Indygo is not at risk of bankruptcy," assures Dariusz Janus, CEO of IndygoTech Minerals. Opinion by Anna Maria Pukszto, attorney-at-law, Dentons. Further restructuring proceedings against listed companies can undoubtedly be expected. Listed companies, like all businesses, are exposed to the negative impact of phenomena and events such as economic downturns, changes in the currency market, limited access to cheap financing, embargoes, and regulatory changes introducing new restrictions for specific sectors (wind farms are a case in point). Individually, financial problems may not only stem from business failures, but also from special events, such as lost lawsuits, imposed administrative penalties, or tax refund decisions. The article was published on the website on August 21, 2016: \u00bb Restructuring as a Response to the Crisis<\/p>","protected":false},"author":12,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[19],"tags":[],"ppma_author":[30],"class_list":["post-5768","post","type-post","status-publish","format-standard","hentry","category-blog"],"authors":[{"term_id":30,"user_id":12,"is_guest":0,"slug":"teampmr-restructuring-pl","display_name":"Zesp\u00f3\u0142 PMR","avatar_url":{"url":"https:\/\/pmrsa.pl\/wp-content\/uploads\/2024\/10\/logo2-e1729926426335.png","url2x":"https:\/\/pmrsa.pl\/wp-content\/uploads\/2024\/10\/logo2-e1729926426335.png"},"0":null,"1":"","2":"","3":"","4":"","5":"","6":"","7":"","8":""}],"_links":{"self":[{"href":"https:\/\/pmrsa.pl\/en\/wp-json\/wp\/v2\/posts\/5768","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pmrsa.pl\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pmrsa.pl\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pmrsa.pl\/en\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/pmrsa.pl\/en\/wp-json\/wp\/v2\/comments?post=5768"}],"version-history":[{"count":0,"href":"https:\/\/pmrsa.pl\/en\/wp-json\/wp\/v2\/posts\/5768\/revisions"}],"wp:attachment":[{"href":"https:\/\/pmrsa.pl\/en\/wp-json\/wp\/v2\/media?parent=5768"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pmrsa.pl\/en\/wp-json\/wp\/v2\/categories?post=5768"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pmrsa.pl\/en\/wp-json\/wp\/v2\/tags?post=5768"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/pmrsa.pl\/en\/wp-json\/wp\/v2\/ppma_author?post=5768"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}