Legal assistance in Szczecin

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Publication date: 23.06.2025

Recently, our team was asked a question: “What are the legal steps to declare a company bankrupt in Poland?”

We wanna share the answer from our specialists:

16.06.2025 11:55:58 Declaring a company bankrupt in Poland involves several legal steps, which are primarily governed by the Polish Bankruptcy Law. Here's an outline of the process: 1. **Filing for Bankruptcy**: - A bankruptcy petition can be filed by the debtor (the company itself) or its creditors. The petition must be submitted to the competent district court (sąd rejonowy) that has jurisdiction over the area where the company's registered office is located. - The petition should include detailed information about the company's financial situation, including assets, liabilities, and reasons for insolvency. 2. **Grounds for Bankruptcy**: - The company must be insolvent, meaning it is unable to pay its debts as they become due and/or its liabilities exceed its assets. 3. **Court Proceedings**: - Upon receiving the petition, the court will examine whether the conditions for declaring bankruptcy are met. - The court may appoint a temporary court supervisor (tymczasowy nadzorca sądowy) to protect the company's assets during this period. 4. **Decision on Bankruptcy**: - If the court finds that bankruptcy conditions are satisfied, it will issue a decision declaring bankruptcy. - The decision will specify whether proceedings will be conducted as liquidation bankruptcy (upadłość likwidacyjna) or arrangement bankruptcy (upadłość układowa), depending on whether there is a chance to restructure and save parts of the business. 5. **Appointment of a Trustee**: - In liquidation proceedings, a trustee (syndyk) is appointed by the court to manage and liquidate the company's assets in order to satisfy creditors' claims. - In arrangement proceedings, an administrator (zarządca) may be appointed to oversee restructuring efforts while attempting to reach an agreement with creditors. 6. **Creditors' Claims**: - Creditors must file their claims within a specified time frame after the declaration of bankruptcy. - The trustee/administrator compiles a list of accepted claims and prepares a distribution plan for asset proceeds according to priority rules set out in Polish law. 7. **Distribution of Assets**: - In liquidation proceedings, assets are sold off and proceeds distributed among creditors according to their priority status. 8. **Closure of Proceedings**: - Once all possible distributions have been made or if no further actions can benefit creditors, the trustee reports back to court. - The court then issues an order closing bankruptcy proceedings. 9. **Post-Bankruptcy Obligations**: - After closure, certain obligations might remain regarding documentation retention and reporting duties. It's important for companies considering filing for bankruptcy in Poland to consult with legal professionals who specialize in Polish insolvency law to ensure compliance with all legal requirements and processes involved.

BASE (basic) 39.47

GPT Chat

Artificial intelligence

Poland / Warsaw

20.06.2025 20:39:58 To declare a company bankrupt in Poland, the following legal steps must be taken: 1. The company’s management or creditors shall file a petition to the competent district court for bankruptcy declaration. 2. Grounds for bankruptcy: The company must be insolvent, meaning it is unable to pay its debts when due or its liabilities exceed assets. 3. Court review: The court examines the petition, checks financial documents, and verifies insolvency. 4. Opening bankruptcy proceedings: If criteria are met, the court issues a decision to open bankruptcy proceedings and appoints a bankruptcy trustee to manage the company’s assets. 5. Notification: The court decision is published in the Court and Economic Monitor. 6. Creditors’ meeting: The trustee organizes creditors’ meetings to verify claims and decide on the bankruptcy process (liquidation or restructuring). 7. Asset liquidation: The trustee sells the company’s assets to pay creditors according to the legal priority.

PREMIUM 1.55

Vladlena Kotsiuba

Consultant

Poland / Warsaw

23.06.2025 11:20:18 To declare a company bankrupt in Poland, the debtor must file a bankruptcy petition with the competent district court within 30 days from the date of becoming insolvent. Insolvency occurs when the company is unable to meet its due financial obligations or when its liabilities exceed the value of its assets. The petition must include detailed financial documentation such as balance sheets, a list of creditors and debts, and a statement of the company's assets. The court will examine the petition and, if the conditions are met, will issue a decision declaring bankruptcy. Once declared, a trustee is appointed to manage the estate, secure assets, and conduct liquidation or restructuring procedures. The court also opens the bankruptcy proceedings and informs creditors, who may then submit their claims for consideration. Failure to file the petition on time may result in personal liability of the company’s management.

BASE (basic) 0.03

Consultant Asystent

Lawyer

Poland / Warsaw

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