The Simplified Restructuring Proceeding: A New Restructuring Tool In Poland

The year 2020 will no doubt be remembered for COVID-19. The pandemic has shaken our societies and profoundly affected our lives.

It has wrought financial havoc, forcing governments and policymakers to look for and implement unorthodox solutions to save the economy, businesses and jobs. Many states swiftly introduced extraordinary legal measures, including in the area of restructuring and insolvency, designed to alleviate the financial burden of cash-strapped but otherwise healthy businesses and allow them to survive. In Poland, one such measure that has the potential to significantly amend the debt restructuring framework is the simplified restructuring proceeding ("SRP").