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The Reorganization Law in Poland

Keywords: reorganization proceedings , entrepreneur , bankruptcy

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Abstract:

The aim of this paper is to present general remarks of the legal structure of the Polish reorganization law. This is a completely new institution in Poland. The Act of 28 February 2003 the Bankruptcy and Reorganization Law (J.L. No 60, item 535 as amended), the articles 492 - 521 b.r.l. is the main source of law in the commented matter. The idea of the Polish regulation derives from the Chapter 11 of the Bankruptcy Code of the United States. The statistics of the usage of the reorganization proceedings in Poland are not very impressive. In this respect some critics maintain that the legislative experiment called “reorganization proceedings” is unsuccessful. Nevertheless the Reorganization Law is a very important figure in the Polish commercial law. Reorganization proceedings seriously differ from bankruptcy proceedings

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