{"id":5929,"date":"2021-09-21T08:11:50","date_gmt":"2021-09-21T06:11:50","guid":{"rendered":"http:\/\/pmr-restrukturyzacje.local\/pmr\/najczestsze-bledy-w-czasie-restrukturyzacji\/"},"modified":"2021-09-21T08:11:50","modified_gmt":"2021-09-21T06:11:50","slug":"the-most-common-mistakes-during-restructuring","status":"publish","type":"post","link":"https:\/\/pmrsa.pl\/en\/the-most-common-mistakes-during-restructuring\/","title":{"rendered":"The most common mistakes during restructuring"},"content":{"rendered":"

According to Coface data, in the first half of 2021, Poland recorded a record 160% year-on-year increase in the number of business insolvencies. In order to get out of a difficult financial situation and avoid bankruptcy, companies must go through a restructuring process, which is a completely new experience for most of them. This, in turn, makes it easy to make mistakes and have painful consequences. Experts PMR Restructuring<\/a> and the FKK Law Firm indicate what debtors should pay particular attention to and what mistakes they should avoid in order to really increase the chances of saving the company.<\/p>\n

To restructuring<\/a> proceeded as smoothly as possible, both for the creditor and the debtor, knowledge of the law and experience in similar proceedings are key. Unfortunately, indebted entrepreneurs face a number of challenges and difficult decisions during the restructuring process, which, in the absence of appropriate support, are often accompanied by errors.<\/p>\n

Every day of delay matters<\/b><\/p>\n

From the debtor's perspective, the timing of the commencement of the restructuring process is crucial. As emphasised by Aleksandra Paku\u0142a, legal adviser at Kancelaria FKK, filing a restructuring application only when bailiff enforcement proceedings are initiated is far too much of a delay, which may prove to be very costly.<\/p>\n

Taking advantage of restructuring as soon as a company's economic situation deteriorates, including a drop in liquidity, is much more effective and gives much more scope for the company to recover from the crisis. Thanks to a quick reaction, the entrepreneur gains the chance to protect the legitimate rights of creditors and increases the probability of preserving the company, its strategic assets and even a quick return to market activities while maintaining full competitiveness<\/b><\/p>\n

- says Aleksandra Paku\u0142a.<\/i><\/p>\n

Moreover, there are times when a trader aware of the difficult situation makes attempts to protect his assets. Meanwhile, disposing of property before filing is also a common mistake by the debtor. It is important to bear in mind the existence of the so-called pauliacal complaint, which allows the debtor's actions of the last five years to be rendered ineffective. Other consequences of such actions include hindering restructuring efforts and reducing trust in the debtor, which may reflect negatively on the subsequent stages of the proceedings.<\/p>\n

Key creditor-debtor communication<\/b><\/p>\n

Another mistake is the lack of communication with creditors. According to experts, it is most often caused by a mental barrier and a sense of embarrassment about having to restructuring<\/a>. Meanwhile, an honest and direct conversation with creditors usually has a positive impact on the entire process.<\/p>\n

In my experience, seeking meetings with the other party makes it easier to reach an agreement. As the last few months have shown, any trader - often unexpectedly - can find himself in a difficult situation, and efficient communication between the parties makes it possible to significantly change the debtor's position<\/b><\/p>\n

- emphasizes Ma\u0142gorzata Anisimowicz, president PMR Restructuring Management Board<\/a> and qualified restructuring advisor.<\/i><\/p>\n

She is echoed by Aleksandra Paku\u0142a, who points out that debtors often forget that there are people on the other side who have not been paid in full for services rendered or goods sold.<\/p>\n

The whole situation requires a specific approach and a comprehensive explanation of the problems that have occurred, so that the other party is aware of the reasons for insolvency or the threat of such a state. Lack of transparency in this area is a common mistake that negatively affects the image and credibility of the debtor, and consequently weakens his position in the process. restructuring<\/a><\/b><\/p>\n

- says the legal adviser at the FKK law firm.<\/i><\/p>\n

A good restructuring plan is worth it survival of the company<\/a><\/b><\/p>\n

Ma\u0142gorzata Anisimowicz \u2013 qualified restructuring advisor and president of the management board PMR Restructuring<\/a> SA and Aleksandra Paku\u0142a, legal counsel from FKK Sp. z oo sp.ka, provided commentary on the publication for the economic service FilaryBiznesu.pl.<\/p>\n

The article appeared on PillarsBusiness.co.uk,<\/b> 20 September 2021. We invite you to read the full version:\"Most common mistakes during restructuring<\/a><\/div>","protected":false},"excerpt":{"rendered":"

Wed\u0142ug danych firmy Coface w pierwszym p\u00f3\u0142roczu 2021 roku w Polsce odnotowali\u015bmy rekordowy, 160% wzrost rdr. liczby niewyp\u0142acalno\u015bci przedsi\u0119biorstw. Aby […]<\/p>\n","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-5929","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"},"author_category":"","first_name":"Zesp\u00f3\u0142 PMR","last_name":"","user_url":"","job_title":"","description":""}],"_links":{"self":[{"href":"https:\/\/pmrsa.pl\/en\/wp-json\/wp\/v2\/posts\/5929","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=5929"}],"version-history":[{"count":0,"href":"https:\/\/pmrsa.pl\/en\/wp-json\/wp\/v2\/posts\/5929\/revisions"}],"wp:attachment":[{"href":"https:\/\/pmrsa.pl\/en\/wp-json\/wp\/v2\/media?parent=5929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pmrsa.pl\/en\/wp-json\/wp\/v2\/categories?post=5929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pmrsa.pl\/en\/wp-json\/wp\/v2\/tags?post=5929"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/pmrsa.pl\/en\/wp-json\/wp\/v2\/ppma_author?post=5929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}