According to the experts of the Employers of Poland, fundamental recommendations on changes to the law on corporate bankruptcy and recovery - such as the restructuring rather than liquidation and customization of formalities - deserve support.
The Team for the amendment to the law on corporate bankruptcy and recovery, appointed by the Minister of Justice and supported by the Ministry of Economy, has developed a number of proposals for changes. A special attention should be paid to the proposals concerning encouragement of entrepreneurs to initiate the restructuring process as early as possible in the form of recovery and composition agreement proceedings.
Another postulate is to limit to three the number of categories to meet liabilities. The first category would include among others maintenance receivables and pensions, unjust enrichment of bankruptcy estate receivables and - which deserves a special recognition of the Employers of Poland – the receivables of farmers on account of contracts to supply products from their own farms. Any overdue interest would be in the last, third category.