Restructuring and insolvency in Poland

A&O Shearman

A&O Shearman is proficient in the entire spectrum of advisory, contentious and transactional matters surrounding restructuring and insolvency, and the local team benefits strongly from working as part of the firm’s global network of offices. Cross-border mandates form a notable element of the group’s offering. The team is particularly well known for acting on the side of creditors, as well as receiving instruction from foreign investors acquiring distressed assets. Insolvency expert Bartosz Merczyński sits at the helm of the department. Banking law specialist Arkadiusz Pędzich advises banks and borrowers on financings in the real estate, telecoms, energy, petrochemical and shipbuilding sectors, while counsel Jerzy Zdrojewski has a strong practice in restructuring transactions.

Practice head(s):

Bartosz Merczyński

Other key lawyers:

Arkadiusz Pędzich; Tomasz Kawczyński; Jerzy Zdrojewski; Paweł Bartosiewicz


‘Experienced, client oriented, and looking for solutions.’

‘Bartosz Merczyński is highly experienced and client oriented.’

Key clients

Polski Fundusz Rozwoju

Liberty House Group

Samsung Electronics Polska


PKO Bank Polski

DZ Bank

Bank Pekao

Alior Bank


Work highlights

  • Advised Polski Fundusz Rozwoju on the contractual and regulatory framework concerning Polish national development plans to be completed within the EU Recovery and Resilience Facility.
  • Advised a client on the closing of the cross-border restructuring of a capital group which operates one of the major online marketplaces in Europe.
  • Advised ARP, BGK, Credit Agricole, mBank, and Bank Pekao on the restructuring of the existing PLN1bn indebtedness of Trakcja Group.

Clifford Chance

Clifford Chance‘s expansive client roster encompasses Polish and international lenders, insurance companies, and investors in distressed assets. The group is well equipped to advise on operational, asset and financial restructuring mandates. Cross-border matters also form a core part of the department’s offering, and the practice handles both in and out-of-court restructurings. Miłosz Gołąb co-leads the team, in addition to acting as head of the dispute resolution team, and is described by one client as being 'in a class of his own‘. Bartosz Krużewski is the other team head, and he also steers the firm’s global financial markets group.

Practice head(s):

Miłosz Gołąb; Bartosz Krużewski

Other key lawyers:

Andrzej Stosio; Michał Jadwisiak


‘They are trusted advisors, not only problem solvers. They invested in learning about our business and industry. They focus on solving problems, rather than highlighting all the difficulties that need to be overcome. They are proactive.’

‘Miłosz Gołąb provides a five star service! In a class of his own.’

Key clients

OT Logistics S.A.

ING Bank Śląski S.A.

PKO Bank Polski S.A.

mBank S.A.

Bank Handlowy w Warszawie S.A.

Santander Bank Polska S.A.

HSBC Continental Europe

Wydawnictwa Szkolne i Pedagogiczne S.A.

RGI-Infrabridge II, Infrabridge III

Work highlights

  • Advised OT Logistics S.A. on an operational, asset and financial restructuring.
  • Advising mBank on a transaction comprising the court and out-of-court restructuring of the indebtedness of a borrower from the real property sector.
  • Advised Bank Handlowy w Warszawie S.A. (Citi Group), PKO Bank Polski S.A. and Santander Bank Polska S.A. on a transaction concerning the court and out-of-court restructuring of the indebtedness of Expondo Polska sp. z o.o. sp.k., a Polish subsidiary of Expondo Group GmbH, an e-commerce retailer.


The multi-disciplinary practice at Dentons boasts a broad-ranging offering which encompasses dealing with restructurings, bankruptcies, and related disputes. It has a strong client base in the financial sector, and is also regularly instructed by companies in the infrastructure, automotive, transportation, manufacturing, energy, retail, FMCG, agriculture and TMT sectors. Anna Pukszto sits at the helm of the department and was promoted to co-managing partner in April 2023; she has expertise in cross-border bankruptcies and distressed asset acquisitions. Tomasz Trocki is praised as ‘a unique lawyer with a wide scope of knowledge and experience in restructuring’, and he heads up the consensual restructuring group. Counsel Stanisław Sołtysik is another notable name in the contentious insolvency space.

Practice head(s):

Anna Pukszto

Other key lawyers:

Tomasz Trocki; Stanisław Sołtysik



‘The most important element is the constant striving to find a solution in situations where, at first glance, it seems that there is no solution at all. And I don’t know how, but they find it. Thanks to this, the transaction is closed successfully.’

‘Anna Pukszto is great at negotiations and finding proper solutions.’

‘Tomasz Trocki is not only a unique lawyer with a wide scope of knowledge and experience in restructuring, but also an amazing team leader. Thanks to this, he and his team are able to provide the highest level of legal services.’

‘Commitment, passion, extensive knowledge in various areas of law, patience, creativity, and high personal culture.’

‘Client oriented and great in finding the consensus.’

‘Tomasz Trocki is a great facilitator with vast market knowledge.’

‘Professionalism and commitment. Division into specialised departments working together seamlessly and smoothly to find comprehensive legal and business solutions and develop the optimal, most beneficial paths for the client.’

Key clients

GX Technology Poland sp. z o.o.

HSBC Continental Europe

Bank Millennium S.A.

BNP Paribas Bank Polska S.A.

DZ Bank AG

Fives FCB

Generali Towarzystwo Ubezpieczeń S.A.

Gordon Brothers

Haitong Bank S.A.

ING Bank N.V.

ING Bank Śląski S.A.

mBank S.A.

PKO Bank Polski S.A.

Powszechny Zakład Ubezpieczeń S.A.

Santander Bank Polska S.A.

Uniqa TU S.A.

Work highlights

  • Advised a TMT company on the restructuring of its intra-group receivables from a Polish subsidiary amounting to approximately €2bn arising from a number of loans granted in previous years and the liquidation of the subsidiary.
  • Advised a major infrastructure construction company in Poland on a debt restructuring, resulting in a successful consensus with two groups of creditors and an investor.
  • Advised a financial institution on the restructuring of a listed energy products company, where a loan collateral was tied to several tonnes of fuel, which constituted mandatory reserves under administrative and legal regulations.

Wardynski & Partners

The multi-disciplinary team at Wardynski & Partners is highly adept at handling court restructurings, bankruptcy cases, and debt and corporate restructurings. Cross-border mandates are also within the strong capabilities of the team, especially EU or US-based restructuring and bankruptcy proceedings. Banks and other financial institutions form the core of the client base. Konrad Grotowski chairs the department with significant experience in contentious mandates, and he is ably supported by Łukasz Szegda, who is skilled in handling matters for distressed companies. Mateusz Tusznio is also recommended.

Practice head(s):

Konrad Grotowski

Other key lawyers:

Łukasz Szegda; Mateusz Tusznio; Jakub Kokowski


‘Very responsive and highly professional team.’

‘Well coordinated and effective team that prioritises client service and sensible, commercially-minded advice.’

‘Mateusz Tusznio stands out for practical and sensible advice rooted in reality.’

Key clients

Bank Polska Kasa Opieki S.A.

Santander Bank Polska




ACP Partners Limited

Work highlights

  • Advising Santander Bank Polska and Bank PKO BP on the restructuring of the financial debt of a large Polish manufacturing business.
  • Advising a consortium comprising Bank Pekao, ING Bank Śląski, Bank Millennium and Credit Agricole Bank Polska on the PLN200m debt restructuring of a food production group.
  • Advising a group of bondholders on the debt restructuring of OT Logistics.

Baker McKenzie Krzyzowski i Wspólnicy Sp.k.

The restructuring and insolvency group at Baker McKenzie Krzyzowski i Wspólnicy Sp.k. frequently utilities the expertise of the firm’s dispute resolution, banking and finance, and M&A departments to provide debtors, creditors, and affected contractors and customers with all-encompassing assistance. This includes both out-of-court and court restructurings, and bankruptcies, as well as advice on transactional matters surrounding distressed assets, and assistance with debt recoveries and insolvency-related commercial contract issues. 'Standout' Karol Czepukojć is the key senior contact in the department.

Practice head(s):

Karol Czepukojć


‘I have had the opportunity to work with the team and Karol Czepukojć on some rather complicated matters. It appears they have a great way of breaking large and complex issues into smaller parts and solving them piece by piece diligently and efficiently.’

‘Karol Czepukojć has stood out. He is also very attentive, easy to talk to, and efficient.’

‘Karol Czepukojć is very responsive and gives very detailed updates and advice.’

Key clients

Polindus-Laktopol Capital Group

Google Ireland Ltd.

Google Poland sp. z o.o.

Santander Bank Polska S.A.

Work highlights

  • Advised Polindus-Laktopol Capital Group on the successful acquisition of distressed assets by Laktopol-B sp. z o.o.
  • Representing the owner of high-rise buildings in the insolvency proceedings of tenants.

DLA Piper Giziński Kycia sp.k.

DLA Piper Giziński Kycia sp.k. boasts a multi-disciplinary team of lawyers and tax advisors with expertise in corporate, insolvency, litigation, finance, and tax mandates. The team’s client roster includes organisations from the energy, infrastructure, manufacturing, retail, new media, healthcare and pharmaceutical sectors, in addition to public sector organisations. Mariusz Hyla heads up the finance and restructuring arm, while the ‘brilliantKrzysztof Kycia leads on the litigation and regulatory side. Magdalena Dec was promoted to counsel in July 2023 and she has notable expertise in acting on both the creditor and debtor side.

Practice head(s):

Mariusz Hyla; Krzysztof Kycia

Other key lawyers:

Artur Sobol; Magdalena Dec; Paweł Bartosiewicz


‘It is a pleasure to work with DLA Piper – they helped me navigate a difficult situation at my company, for which I remain grateful. They are calm, work well under stress and time pressure, and have a great understanding of my industry.’

‘I believe that what makes them unique is the combination of legal expertise, understanding of business objectives, and the ability to combine them into an effective strategy. This is a great quality in the most complex cases, which require thinking outside of the box. I would definitely recommend them.’

‘Krzysztof Kycia is simply a brilliant lawyer and very business focused. He has incredible knowledge and energy, and an ability to look at the problem from different perspectives to come up with an effective solution.’

‘I would like to mention Paweł Bartosiewicz and Magdalena Dec – they are very skilled and experienced in dealing with insolvency disputes.’

‘As restructuring lawyers, they are representing us as a creditor. The work involves negotiating agreements and repayment schedules to enable the debtor to pay off the debt without becoming insolvent. They use modern technology in order to quickly obtain information and adapt decisions to protect the creditor’s interests.’

‘Magdalena Dec is engaged in all stages of the insolvency process, from negotiating company voluntary arrangements to administration and receivership. She is also involved in the liquidation stage, where the company’s assets are taken to pay off the outstanding monies owed.’

‘Magdalena Dec has an interest in the world of business and finance and therefore has an excellent level of commercial awareness and great persuasive communication skills which she uses to deal with people in difficult situations. When negotiating with debtors, she uses strong communication skills.’

Key clients



METRO Properties


Philips Polska

Springer Nature

Work highlights

  • Advising Aerotunel on the acquisition of a wind tunnel project in the Wrocław region as part of pre-packaged bankruptcy proceedings.

Domanski Zakrzewski Palinka

Domanski Zakrzewski Palinka fields ‘a strong team of exceptional lawyers’ who handle in court and out-of-court restructuring and insolvency proceedings. Businesses in distress, debtors, and creditors form the majority of the team’s client base, and regulated sectors such as banking and renewable energy are core areas of focus for the practice. Bartosz Marcinkowski and Michał Cecerko head up the department; the former has experience in advising Polish and foreign companies, while the latter is a licensed restructuring advisor who focuses on debt and bankruptcy projects. They are ably supported by corporate and M&A specialist Sylwia Kuca.

Practice head(s):

Michał Cecerko; Bartosz Marcinkowski

Other key lawyers:

Sylwia Kuca


‘A strong team of exceptional lawyers covering topics like financial regulation, restructuring, insolvency, and dispute resolution.’

‘The team has deep knowledge and experience with respect to local markets, but also wide expertise of international practice, especially in the field of European financial regulation and financial restructuring.’

‘Michał Cecerko is a leader with great experience and he is very approachable when needed.’

‘The team is very client oriented with capacity to work very hard under strong time pressure.’

‘Well known in Poland for having a good team and excellent resources.’

Key clients

Idea Bank S.A.

Idea Money S.A.

Getin Noble Bank S.A.

Fenice Poland sp. z o.o.

LC Corp BV

Waste to Energy (Keszczow) Company Ltd

Wydawnictwo Bauer

YIT Development sp. z o.o.

Work highlights

  • Representing Fenice Poland in the insolvency proceedings of Elektrobudowa S.A., an electrical engineering and construction company.
  • Acted for the creditor, Waste to Energy Company Ltd, in filing a pre-pack petition against the debtor, EKO-Region Kleszczów sp. z o.o.
  • Advising Getin Noble Bank on insolvency issues before and after its resolution process.

Kochanski & Partners

Kochanski & Partners has substantial expertise representing creditors and investors, especially financial institutions and private equity funds. Out-of-court restructurings are a staple of the practice, in addition to corporate restructurings, post-restructuring disputes, and personal and corporate insolvency proceedings. Rafał Rapala and Mateusz Ostrowski jointly lead the group; the former has expertise in the corporate space, and the latter leads the firm’s litigation practice. Paweł Cholewinski is another name of note, with a focus on real estate transactions.

Practice head(s):

Rafał Rapala; Mateusz Ostrowski

Other key lawyers:

Paweł Mardas; Karol Połosak; Aneta Serowik; Paweł Cholewinski

Key clients

State Street Global Advisors

Ringier Axel Springer Poland

Chrysler Poland

Proservice Finteco

BU Media



Banner Ltd

Paige Inestments

EFC European Foundation

Work highlights

  • Advising Chrysler Poland and FCA Group Poland on the liquidation process of a Polish subsidiary and the winding up of the business in Poland.
  • Representing Ringier Axel Springer Poland in a post-restructuring litigation case related to the restructuring of RUCH S.A.
  • Advising Blachotrapez S.A. on a corporate and ownership restructuring procedure, including assisting with labour and tax law issues, in connection with several pending M&A transactions aimed at the client’s expansion into foreign markets within the CEE region.

Rymarz Zdort Maruta

Rymarz Zdort Maruta is well versed at advising Polish and international clients on domestic and cross-border restructuring and insolvency mandates. Its offering encompasses matters involving large numbers of creditors, the restructuring of capital groups, credit extensions, and in and out-of-court restructuring proceedings. Liquidation bankruptcy matters and distressed M&A transactions are also areas of expertise for the department. Licensed restructuring advisor Magdalena Pyzik-Walag sits at the helm of the practice.

Practice head(s):

Magdalena Pyzik-Walag

Key clients Poland sp. z o.o.

Arcade Beauty

Bank Millennium S.A.

Murapol S.A.

Polcom Group

XXXLutz Group

Work highlights

  • Advised Bank Guarantee Fund on the resolution of Getin Noble Bank.
  • Advised on its acquisition of all the assets of the bankruptcy estate of Go Sport Polska sp. z o.o. from the bankruptcy trustee.
  • Advised Arcade Beauty and its Polish subsidiary, Socopol sp. z o.o., on the Polish law aspects of an out-of-court cross-border restructuring and recapitalisation.

Tatara & Partners Restructuring & Insolvency Law Firm

Tatara & Partners Restructuring & Insolvency Law Firm boasts ‘a highly experienced team’ with a ‘specialised focus on restructuring and insolvency, which makes them experts in the field’. Pre-pack transactions and quick restructurings, especially arrangement approval proceedings, form a key part of the group’s work. Founding partner Karol Tatara divides his time between Krakow and Warsaw, and is a licensed restructuring advisor, as are Maciej Knopek and Tadeusz Grzesiak, also senior members of the team. Anna Czarnota is another notable name.

Practice head(s):

Karol Tatara; Maciej Knopek; Tadeusz Grzesiak

Other key lawyers:

Mateusz Palian; Anna Czarnota


‘A highly experienced team which delivers results in the most efficient way. Business oriented with services that create value.’

‘Experienced and hands-on individuals at all levels of the firm.’

‘What sets Tatara & Partners apart is their specialised focus on restructuring and insolvency, which makes them experts in the field. They excel in crisis situations, providing timely advice that can be a game-changer for businesses facing financial difficulties. Unlike other firms that have a more generalised approach, Tatara & Partners offer specialised expertise that gives them an edge in their practice area.’

‘Karol Tatara has a great strategic approach and Anna Czarnota has superb communication and drafting skills.’

‘The professionals at Tatara & Partners are distinguished by their in-depth knowledge of restructuring and insolvency law. Karol Tatara is a standout, possessing a unique ability to foresee potential challenges and navigate through legal complexities efficiently. The team’s understanding of not just the law, but also the economics behind it, sets them head and shoulders above competitors.’

‘Tatara & Partners is well known in the Polish restructuring market for high-profile cases and projects, as well as attention to detail. They have an ability to easily explain even the most complex legal issues. They are good listeners and always see the bigger picture with regards to the legal problem in question.’

‘The team is led by Karol Tatara and Maciej Knopek. Karol is active within legislative processes and thus he always has the up-to-date information and can provide a unique standard of legal assistance. Maciej is responsible for the restructuring leg of Tatara & Partners, always seeking tailor-made legal advice, including the broad context of clients’ operations.’

‘Maciej Knopek and Anna Czarnota have extensive experience, which, combined with their extensive knowledge and efficient business intuition, makes cooperation with them concrete and pleasant.’

Key clients

Ruch S.A.

Expondo sp. z o.o. sp.k.

Trustee of TWOJA SKOK

Trustee of Idea Bank S.A.

H. Cegielski-Poznań S.A.

VIVID Games S.A.

CDP sp. z o.o.

Work highlights

  • Advising the debtor, Ruch S.A., on two simultaneous accelerated arrangement proceedings with partial arrangement.
  • Advised the debtor, H. Cegielski-Poznań S.A., on a successful restructuring where a debt-to-equity-swap was used.
  • Representing the Trustee of Idea Bank S.A. in insolvency proceedings.

WKB Lawyers

WKB Lawyers‘s client base includes local and international parties, and spans financial institutions, debtors, and acquirers of distressed assets. One client notes the ‘great depth of the team and understanding of difficulties in restructuring proceedings‘. The group’s offering spans the gamut of domestic and cross-border restructurings and insolvencies, including debt restructurings, standstills, out-of-court restructurings, and pre-bankruptcy arrangements, as well as contentious mandates. Licensed restructuring advisor Klaudia Frątczak-Kospin, and banking and finance expert Piotr Grabarczyk, jointly lead the department.

Practice head(s):

Klaudia Frątczak-Kospin; Piotr Grabarczyk

Other key lawyers:

Andrzej Wierciński; Jakub Jedrzejak


‘Piotr Grabarczyk is recommended.’

‘Great depth of the team and understanding of difficulties in restructuring proceedings.’

‘Andrzej Wierciński and Piotr Grabarczyk work around the clock doing exceptional work.’

Key clients

BNP Paribas Bank Polska S.A.

Powszechna Kasa Oszczędności Bank Polski S.A.

CVI Dom Maklerski S.A.

Davidson Kempner Capital Management S.A.

Bank of America

UNIQA Towarzystwo Ubezpieczeń S.A.

Salini Polska

Zetland Capital

Schur Flexibles


Paan Capital

Nowe Jaworzno Grupa TAURON sp. z o.o.

Polskie Sieci Elektroenergetyczne S.A.

Barter S.A.

A group of commercial creditors of BM Kobylin sp. z o.o.

Port Lotniczy Gdańsk sp. z o.o.

Court receiver of Elsen S.A.

Teren Operations Poland sp. z o.o.

Work highlights

  • Advised a consortium of banks on the out-of-court financial restructuring of a major steel producer.
  • Represented a major Polish bank in two parallel court restructuring proceedings of a major Polish agriculture groups.
  • Representing a major Canadian medical company in the restructuring proceedings of a Polish medical entity.

Zimmerman Sierakowski and Partners

Boutique restructuring, bankruptcy and insolvency firm Zimmerman Sierakowski and Partners is seen as a go-to outfit by debtors and creditors alike, in addition to official receivers in complicated bankruptcy estate cases. The group is praised as ‘exceptionally competent in restructuring processes’Managing partner and former insolvency judge Piotr Zimmerman and Bartosz Sierakowski are the key senior contacts. Norbert Frosztęga is another name to note, and has particular expertise in advising entrepreneurs.

Practice head(s):

Piotr Zimmerman; Bartosz Sierakowski

Other key lawyers:

Norbert Frosztęga


‘Very good and professional law office with great experience, knowledge and quality; they know the market and businesses.’

‘Bartosz Sierakowski has great experience and knowledge.’

‘They can see the bigger picture and apply tailor-made solutions. At the same time, they are very thorough and keep an eye on details.’

Key clients

Go Sport sp. z o.o.

Idea Money sp. z o.o.


Europoles sp. z o.o.

Neckermann Polska Biuro Podróży

Top Secret sp. z o.o.

Szpital Powiatowy we Wrześni sp. z o.o.

P1 sp. z o.o.

Ascot Finance S.A.

Care Experts sp. z o.o.

Milo Development sp. z o.o.

ŁZG Łęczyca S.A.

Work highlights

  • Advised PBG S.A. capital group on its restructuring, where the debt value exceeded PLN12.3bn.
  • Advised Idea Money S.A on arrangement proceedings.
  • Advised Go Sport Poland sp. z o.o. on its bankruptcy.

Eversheds Sutherland Poland

Eversheds Sutherland Poland‘s restructuring and insolvency offering sits within the firm’s dispute resolution practice, and it therefore has a strong focus on contentious mandates in this area. Key focuses include representing both creditors and debtors in debt collections, and insolvency and restructuring-related disputes. Maciej Jóźwiak leads the contentious practice.

Practice head(s):

Maciej Jóźwiak

Other key lawyers:

Paweł Adamczyk


‘Responsive, competent, and business oriented.’

Key clients

State Treasury of the Republic of Poland

Emerson Process Management

Parker Hannifin

Pomorska Investments

Rainbow Tours

Work highlights

  • Representing GDDKiA, as a creditor, in two cross-border insolvency proceedings of Alpine Bau companies.
  • Representing Emerson Process Management, as a sub-contractor, in two disputes against the investor due to restructuring of the general constructor.
  • Representing Parker Hannifin in several debt collection cases.

EY Law

EY Law ‘is a perfect choice for challenging and complex projects’ in the restructuring and insolvency arena, with a broad-ranging client roster consisting of companies in financial difficulties, creditors, investors, and state and supranational institutions. A key focus of the group’s work includes assisting with policy reform and advising on the mechanisms available to entrepreneurs in financial distress; the team has worked with the European Commission on two separate occasions regarding such matters. Magdalena Kasiarz sits at the helm of the practice, which also houses senior associate Piotr Podsiadło, who is praised for his ‘vast practical experience’.

Practice head(s):

Magdalena Kasiarz

Other key lawyers:

Piotr Podsiadło; Inga Talik; Anna Wiaksa


‘The team is a perfect choice for challenging and complex projects, which require the highest professional skills and deep experience. I feel that the projects are managed professionally and EY always meets the deadlines set at the beginning. I appreciated the commitment of the team; I felt that they really cared about my case and me as a client.’

‘In today’s economy, only legal knowledge and skill are not enough. Therefore EY Law’s restructuring team, working closely with financial people, stands out from the crowd. We appreciate their in-depth look into the problem, and holistic approach.’

‘Magdalena Kasiarz leads the team comprising skilful young lawyers.’

Key clients

European Commission, in cooperation with the Ministry of Economic Development and Technology

European Commission, in cooperation with the Ministry of Justice


JSW Koks


The SPAR Group Ltd


Work highlights

  • Assisted JSW Koks with a strategic review of the consequences of a PLN447m settlement with Rafako regarding the construction of a power plant Radlin.
  • Assisted the European Commission, in cooperation with the Ministry of Economic Development and Technology, with a comprehensive analysis of the Polish aid system dedicated to entrepreneurs in financial distress and early warning tools.
  • Advised Arriva on its distressed M&A deal, including the sale of its bus business in Poland to Mutares.

Filipiak Babicz Legal sp. k.

Filipiak Babicz Legal sp. k. is skilled at handling a range of complex restructuring and insolvency mandates, including corporate restructurings, cross-border insolvency proceedings, and personal liability proceedings of managers for failure to file a bankruptcy petition. Its client base is similarly broad ranging, and includes debtors, creditors, trustees, and administrators. Qualified restructuring advisor Patryk Filipiak is head of the team, and he is ably supported by Anna Michalska, who has expertise in a range of bankruptcy and restructuring processes.

Practice head(s):

Patryk Filipiak

Other key lawyers:

Anna Michalska


‘Strong team with good level of knowledge and experience.’

‘High level of business area understanding and creativity in searching for the most adequate solutions.’

‘The lawyers from Filipiak Babicz provided us with an opinion in the field of bankruptcy law. We consider them to be good specialists in bankruptcy and restructuring law and regard them as a professional partner.’

Key clients

Komputronik S.A.

Komputronik Biznes sp. z o.o.

“Energomontaż-Północ Gdynia” S.A.

Sadkowski i Wspólnicy sp.k.

Kancelaria Medius S.A.

Golub Gethouse MLT sp. z o.o.

Mikrokasa S.A.

Ferax sp. z o.o.

Energetyczne Towarzystwo Finansowo-Leasingowe Energo-Utech S.A.

GGH Rental Apartments sp. z o.o.

Wielkopolskie Browary Regionalne sp. z o.o.

PAWO-MEN spółka z ograniczoną odpowiedzialnością sp.k.

Work highlights

  • Represented Komputronik S.A in the course of remedial proceedings, which included 798 creditors and approximately PLN478m worth of claims.
  • Represented Kancelaria Medius S.A. in composition proceedings.

Greenberg Traurig Nowakowska-Zimoch Wysokinski Sp. k

Greenberg Traurig Nowakowska-Zimoch Wysokinski Sp. k's multi-disciplinary team fields contentious and transactional expertise, and its offering spans in and out-of-court restructuring proceedings, as well as advice to purchasers of stocks and assets of insolvent entities. Sitting at the helm of the practice is Andrzej WysokińskiMichał Bobrzyński is another key name to note.

Practice head(s):

Andrzej Wysokiński

Other key lawyers:

Michał Bobrzyński; Antoni Libiszowski

Key clients

Bank Pekao S.A.



IFA Holding GmbH and its subsidiaries

Work highlights

  • Advised Bank Pekao S.A., as creditor to a consortium comprising PBG, Hydrobudowa and Aprivia, on various matters relating to the restructuring and bankruptcy proceedings of the members of the consortium.
  • Advised Logicor and its affiliate Inverkip, as the landlord, on various matters relating to the restructuring proceedings of Polish bread manufacturing company Nowakowski Piekarnie.
  • Represented Logicor and its affiliate Gemini (Poland) Propco II, as the landlord, in the bankruptcy proceedings of Qumak S.A.

KKLW Legal Kurzynski Wierzbicki sp.k.

KKLW Legal Kurzynski Wierzbicki sp.k. boasts a team of restructuring and insolvency ‘specialists with extensive knowledge and experience, clear empathy, and exceptional creativity’, and the group’s offering includes representation in liquidation proceedings, bankruptcy proceedings, and approval of arrangement proceedings. Licensed restructuring advisor Przemysław Wierzbicki heads up the practice, and he is ably supported by Marcelina Rzepkowska, Krzysztof Wanecki and Marcin Orzechowski, all of whom handle proceedings for both the official receiver and the creditor.

Practice head(s):

Przemysław Wierzbicki

Other key lawyers:

Marcelina Rzepkowska; Krzysztof Wanecki; Marcin Orzechowski


‘KKLW are specialists with extensive knowledge and experience, clear empathy, and exceptional creativity.’

‘KKLW lawyers have great knowledge and intuition, extensive experience and the action plan is always thought out in every detail. They fight for the client’s case.’

‘It is not difficult to create a restructuring plan that takes into account far-reaching debt reductions. It is important that this plan is designed so that its assumptions are acceptable to creditors. KKLW knows it, it is based on experience.’

Key clients

F.B.I. Tasbud Spółka Akcyjna

Development System

Adrenaline Park Ventures Poland

Rank Recycling Energy

PKP Polskie Linie Kolejowe

Green Systems

Alpine Bau GmbH A-1 sp. jawna

Work highlights

  • Representing F.B.I. Tasbud S.A. in restructuring and bankruptcy proceedings related to its large-scale residential construction, which involved a series of negotiations with creditors to determine the final arrangement proposals.
  • Advised Development System on the restructuring of an entrepreneur in the real estate rental and management industry.
  • Advising Alpine Bau GmbH A-1 sp. j, as interim administrator, on bankruptcy-related matters.

LSW Bieńkowski, Laskowski, Leśnodorski, Melzacki and Partners sp.k.

LSW Bieńkowski, Laskowski, Leśnodorski, Melzacki and Partners sp.k.‘s wide-ranging client roster consists of both Polish and international debtor and creditor-side parties. As a core part of the firm’s corporate offering, the team frequently acts in restructuring mandates and insolvency proceedings on behalf of public and private organisations. Practice head Władysław Bieńkowski established the restructuring and insolvency group and is well versed in the recovery of claims, debt collection, and securing claims or rights.

Practice head(s):

Władysław Bieńkowski

Other key lawyers:

Bartosz Nowicki; Kinga Rochalska-Sasin

Key clients

Celtic Asset Management Sp. z o.o.

Challange Eighteen Sp. z o. o.


Hub Developments Ltd Sp. z o.o.

Lakia Investments Sp. z o.o.

Retixa Sp. z o.o.

Ursus Development Sp. z o.o.

Antigo Investments Sp. z o.o.

Sunningwell International Polska Sp. z o.o.

Work highlights

  • Representing Sunningwell International Polska in its restructuring proceedings as a result of the negative impact of the Covid-19 pandemic, and compounded by ISD Huta Częstochowa’s bankruptcy.
  • Advising Celtic Property Development on a group-wide restructuring, predominantly focusing on real estate assets held in subsidiary companies.
  • Advising Ukrianian company SMK INVEST on its entry to the Polish market through the acquisition of distressed asset Polish Zakłady Mięsne Viola Sp. z o.o.

Norton Rose Fulbright

The restructuring team at Norton Rose Fulbright frequently handles mandates for entities active in the banking sector, including a range of domestic and cross-border financial institutions. Its offering spans debt restructuring, pre-insolvency restructuring, and enforcement proceedings, and the team benefits from the firm’s global network of offices. Grzegorz Dyczkowski and Tomasz Rogalski jointly lead the group, and the latter was promoted to the partnership at the beginning of 2023.

Practice head(s):

Grzegorz Dyczkowski; Tomasz Rogalski

Other key lawyers:

Marta Kawecka; Jacek Smardzewski; Daniel Popek

Key clients

Bank Polska Kasa Opieki S.A.

European Bank for Reconstruction and Development

Alior Bank S.A.

Bank Ochrony Środowiska S.A.

BNP Paribas Bank Polska


ING Bank Śląski S.A.

Accession Capital Partners

Obotritia Capital

Work highlights

  • Advised the lenders and hedge counterparties, led by ING Bank Śląski S.A., on the restructuring of trade finance facilities and enforcement of security, as well as representing them in bankruptcy proceedings initiated with respect to Hermes Energy Group S.A.
  • Advising banks on amendments to financing documents related to the development of the 38MW Golice wind farm in Western Poland operated by Acciona Energia, and providing day-to-day regulatory advice on the renewables regulatory environment in Poland which has changed and put the Golice wind farm into financial difficulties.
  • Advising Alior Bank S.A. on amendments to financing documents related to the development of the 25.3MW Jóźwin wind farm in Poland operated by Max Bogl and Vortex to reflect restructuring arrangements agreed between the parties to the development financing.


RESIST Law Firm is a boutique law firm focusing on restructuring, insolvency, and litigation. It was founded in 2022 by Oskar Sitek and Piotr Rezanko, and they are ably supported by Tomasz Romanowski and Piotr Kieloch; all four are praised by a client for their ‘deep sector knowledge and insolvency and restructuring experience’. Among its client base are large Polish companies, as well as individuals and entrepreneurs who are undergoing consumer insolvency proceedings.

Practice head(s):

Oskar Sitek; Piotr Rezanko

Other key lawyers:

Tomasz Romanowski; Piotr Kieloch; Agata Duda-Bieniek; Magdalena Zdanowska


‘The ability to find solutions appropriate to the situation, focusing on solving the problem in an effective way, and efficient action.’

‘Close cooperation with the client – excellent knowledge of the client’s affairs, which makes the proposed solutions better suited.’

‘RESIST provided us with top-quality legal services in terms of insolvency proceedings with accompanying litigation cases. In my opinion, RESIST is one of a few law firms in Poland which can handle such complex cases.’

Key clients


SKOK Wołomin


Open Finance

2C Partners

Small Planet Airlines

Klub Sportowy Ursus



Food Quantum

Peac Finance



Andrzej Sadzikowski ELTES

Work highlights

  • Advised Ursus, a Polish agricultural machinery producer, in international insolvency proceedings worth over €50m.
  • Represented Open Finance, a major financial broker on the Polish market, in complex international insolvency proceedings worth over €36m.
  • Represented Enco, a global energy and fuel provider, in international insolvency proceedings worth over €104m.


SSW‘s client roster includes large corporates and medium-sized businesses based in Poland, Europe, and farther afield. The team expertly handles insolvency and restructuring proceedings for creditors, debtors, and investors. Janusz Mazurek and Łukasz Grenda sit at the helm of the department. Łukasz Cudny and Helena Czechowska are both notable for their expertise in contentious mandates.

Practice head(s):

Janusz Mazurek; Łukasz Grenda

Other key lawyers:

Łukasz Cudny; Helena Czechowska

Key clients

mBank S.A.

Haitong Bank S.A.

Grupa VOX

BNP Paribas SA

Muscateyewear Sp. Z o.o.

Real Menagement S.A.



Local Ocean France

Aviation Capital Group

Waimea Holding S.A.

Siemens AG



Firma Drobiarska Sp. z o.o.

Grupa Azoty Compounding



Jeronimo Martens Polska

Work highlights

  • Represented a creditor in the restructuring proceedings of ELBUD Katowice Sp. z o. o.
  • Advised Pekabex on the acquisition of assets as part of insolvency proceedings.
  • Advised Waimea Holding group on restructuring matters.

White & Case M. Studniarek i Wspólnicy - Kancelaria Prawna sp.k.

White & Case M. Studniarek i Wspólnicy - Kancelaria Prawna sp.k.‘s team frequently handles corporate and financial restructuring transactions, multi-jurisdictional insolvencies, and debtor and creditor-related disputes. Its client roster includes multinational corporations, financial institutions, and insolvency practitioners. Restructuring distressed businesses is another core area of expertise for the group. Practice head Grzegorz Abram ‘has a wealth of knowledge and experience’ and acts on both the lender and debtor side.

Practice head(s):

Grzegorz Abram

Other key lawyers:

Paweł Zagórski; Kinga Duszyk


‘Grzegorz Abram has a wealth of knowledge and experience, as well as exceptional communication and negotiation skills, which enable him to provide the client with great comfort and support during the transaction.’

‘White & Case deserves praise and appreciation for its professional support in the area of financial restructuring.’

Key clients

Credendo – Excess & Surety S.A.

Generali Towarzystwo Ubezpieczeń S.A.

Korporacja Ubezpieczeń Kredytów Eksportowych S.A.

Sopockie Towarzystwo Ubezpieczeń Ergo Hestia S.A.

Powszechny Zakład Ubezpieczeń S.A.

Uniqua Towarzystwo Ubezpieczeń S.A

Interrisk Towarzystwo Ubezpieczeń S.A.

Vienna Insurance Group

Adler Group

Generali Real Estate

Jastrzębska Spółka Węglowa S.A.

JSW Koks S.A.

mBank S.A.

Santander Bank Polska S.A.

BNP Paribas Bank S.A.

NextBike GmbH

Tier Mobility GmbH

Work highlights

  • Advised a syndicate of insurers on the restructuring of the PLN1bn financial debt of Trakcja PRKiI S.A. and its subsidiaries.
  • Advised mBank S.A. on the restructuring of the financial indebtedness of OT Logistics S.A.
  • Advising mBank S.A., acting as the lender and the bondholder, on the restructuring and enforcement of the financial indebtedness of Capitea S.A. and Centauris 2 NSFIZ.

Wolf Theiss

Wolf Theiss handles a broad spectrum of financial restructuring, insolvency, and distressed investment matters for both creditors and debtors. This offering encompasses mandates such as representation in out-of-court restructurings, advice on standstill agreements, and service on creditors’ committees of insolvent companies. Since the departure of Lech Giliciński to Soltysinski Kawecki & Szlezak in October 2023, counsel Joanna Gąsowski is now the key senior contact. Krzysztof Libiszewski joined the firm from Wardynski & Partners in July 2023 and now leads the M&A team with notable experience in corporate restructurings.

Practice head(s):

Joanna Gąsowski

Other key lawyers:

Krzysztof Libiszewski

Key clients


EGB – Skarbiec Powiązany Fundusz Inwestycyjny Zamknięty

SIAC Construction

European Real Estate Debt II

Work highlights

  • Representing Busoco in the enforcement proceedings of AWW, a company organised to develop a theme park in Central Poland.
  • Representing SIAC Construction, a multi-disciplined construction group with significant operations across Ireland and the United Kingdom, in post-restructuring litigation with creditors in Poland and in settlement negotiations with the Polish State Treasury – the General Directorate of National Roads and Motorways.