{"id":6016,"date":"2024-05-08T09:42:00","date_gmt":"2024-05-08T07:42:00","guid":{"rendered":"https:\/\/pmrsa.pl\/?p=1435"},"modified":"2025-01-25T09:01:54","modified_gmt":"2025-01-25T09:01:54","slug":"restructuring-as-a-way-to-deal-with-the-problems-of-local-government-companies","status":"publish","type":"post","link":"https:\/\/pmrsa.pl\/en\/restructuring-as-a-way-to-deal-with-the-problems-of-local-government-companies\/","title":{"rendered":"Restructuring - a way for local government companies to get into trouble"},"content":{"rendered":"

The wave of insolvencies in the country is creeping up. In the first quarter of this year, 1,537 companies reported it, 31 per cent more than a year ago, according to Coface. The driving force, however, is not bankruptcies, but restructuring proceedings to prevent them.<\/strong><\/p>\n\n\n\n

In Q1 2024, as many as 1,537 decided to do so, 33 per cent more a year ago.<\/b> So far, these have mainly been private companies. However, the list is beginning to include more public companies, including local authorities. Pursuant to a decision of the District Court in Wa\u0142brzych, 6th Commercial Division, of 29 June 2020, the first restructuring proceedings in the region were opened against Przedsi\u0119biorstwo Komunikacji Samochodowej w K\u0142odzku S.A.. After four years the restructuring was successful<\/a>. Last week, the court in Wa\u0142brzych approved the arrangement adopted at the creditors' meeting. According to experts, this is a breakthrough verdict, which may encourage more local government companies to take restructuring measures. Especially as many local government companies are generating losses and their liquidity is poor.<\/p>\n\n\n\n

- There is still a lack of awareness and willingness to act on this.<\/b> In our current reality, local government companies in trouble turn to the owner for funding without making restructuring<\/a> neither operational nor in terms of liabilities. These are short-term solutions, a kind of 'drip' for the here and now. Unfortunately. Such measures do not solve problems.<\/strong> What is needed is a broad-spectrum action which will allow these entities to fulfil the tasks set before them and to lock in the costs. This really can be done,\" says Ma\u0142gorzata Anisimowicz representing the administrator of PKS K\u0142odzko, i.e. the PMR Restrukturyzacje law firm, and adds that The immediate cause of the company's financial 'collapse' was the Covid-19 pandemic, which exacerbated the unfavourable situation of falling passenger numbers. <\/strong>Due to the temporary lockdown and strictures, transport industry<\/a> passengers according to the Central Statistical Office statistics in the period January-August 2020 recorded a 48.8% decrease in the number of passengers transported<\/strong> in intercity bus transport compared to the same period last year. The situation of PKS K\u0142odzko was very difficult, the company was at risk of insolvency, which was a threat to the ability to achieve goals such as transport<\/a> public.<\/p>\n\n\n\n

In the course of the conducted restructuring<\/a> a restructuring plan has been developed<\/strong> the aim of which was to prepare the future strategy of the debtor's company, which would allow it to regain liquidity and increase the volume of its profits for the satisfaction of its creditors.<\/p>\n\n\n\n

- In light of the opportunities that have arisen through the Act of 16 July 2020 on the provision of public aid<\/b> in order to save or restructuring of entrepreneurs<\/a> the administrator applied for temporary restructuring support in order to obtain financing that would enable the entrepreneur to conduct business activities for the time necessary to implement restructuring activities aimed at restoring long-term ability to compete on the market and these funds were obtained. It was a good decision and the funds obtained both allowed for supporting the company in difficult period<\/a> and allowed for operational changes to be implemented in the company \u2013 says Ma\u0142gorzata Anisimowicz.<\/p>\n\n\n\n

With regard to unsatisfied employee claims arising prior to the opening of proceedings,<\/b> as well as liabilities for equivalents, severance payments and compensation due to employees whose employment relationship ended after the opening of the proceedings, the administrator filed an application for payment of funds for this purpose from the Guaranteed Employee Benefits Fund. In the course of restructuring employees<\/a> they received the financial resources due to them in this respect<\/p>\n\n\n\n

According to attorney Sylwia Hamryszak representing the management board of PKS K\u0142odzko, the company's situation required support from the company on the one hand due to the specific nature of the debtor itself, which is a local government company whose purpose and obligation is to carry out tasks for the inhabitants of the region, and on the other hand due to the fact that in the course of restructuring<\/a> in particular, the judicial administrator is the body authorized to undertake legal actions important for the company and its contractors on behalf of the debtor.<\/p>\n\n\n\n

The starosta of K\u0142odzko, Mrs. Ma\u0142gorzata J\u0119drzejewska \u2013 Skrzypczyk, believes that company restructuring<\/a> PKS K\u0142odzko allowed the company to remain on the local regional transport market and preserve its assets.<\/b> Above all, as the owner, when deciding to restructure, we were concerned with preventing the exclusion of local residents, bringing about the stabilisation of passenger transport and the provision of school transport for children and young people.<\/p>\n\n\n\n

The article appeared on @gazetaPrawna.pl:<\/b>on 8 May 2024 and we invite you to read the full version:\" Restructuring - a way for local government companies to get into trouble <\/a><\/div>","protected":false},"excerpt":{"rendered":"

Fala niewyp\u0142acalno\u015bci w kraju si\u0119 rozkr\u0119ca. W pierwszym kwartale tego roku zg\u0142osi\u0142o j\u0105 1537 firm, o 31 proc. wi\u0119cej ni\u017c […]<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"closed","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":"","_ppma_block_editor_authors":""},"categories":[19],"tags":[],"ppma_author":[30],"class_list":["post-6016","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\/6016","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=6016"}],"version-history":[{"count":0,"href":"https:\/\/pmrsa.pl\/en\/wp-json\/wp\/v2\/posts\/6016\/revisions"}],"wp:attachment":[{"href":"https:\/\/pmrsa.pl\/en\/wp-json\/wp\/v2\/media?parent=6016"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pmrsa.pl\/en\/wp-json\/wp\/v2\/categories?post=6016"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pmrsa.pl\/en\/wp-json\/wp\/v2\/tags?post=6016"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/pmrsa.pl\/en\/wp-json\/wp\/v2\/ppma_author?post=6016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}