Services
Bankruptcy, including prepared
liquidation (pre-pack)
In some cases, it is not advisable to initiate restructuring proceedings against an insolvent entity.
In such cases, as well as after unsuccessful restructuring, taking care of the legal security of the management (and directors & officers), we advise on the preparation and filing of the bankruptcy petition and support during the entire bankruptcy procedure, including intervening matters – such as those related to the actio pauliana complaint, representation before the trustee or the bankruptcy court.
Our experience also includes applications for prepared liquidation, i.e. pre-pack – we advised, among others, on the first such project in Poland.
A prepared liquidation (pre-pack) is a tool available in insolvency / bankruptcy proceedings that allows the sale of a business, its organised part or material assets to an investor nominated by the debtor or a creditor. A pre-pack sale has the effects of an execution / enforcement sale, i.e. the purchaser buys the object of the transaction without liability for the bankrupt’s obligations.
Our Team is continuously monitoring the current draft legal changes in the area of pre-pack, and one of our lawyers, attorney-at-law Paweł Kuglarz, is an expert of the European Commission in the work on the new insolvency directive, which also addresses the issue of prepared liquidation.
PRE-PACK SCHEME IN POLAND
WEBINAR
New insolvency directive on the horizon – lessons for debtors and creditors
Our Team is continuously monitoring the current draft legal changes in the area of pre-pack, and one of our lawyers, attorney-at-law Paweł Kuglarz, is an expert of the European Commission in the work on the new insolvency directive, which also addresses the issue of prepared liquidation.
Tatara and Partners’ advisers also prepare legal and economic analyses of the grounds for bankruptcy and assessment of insolvency prerequisites.
Under insolvency proceedings, an arrangement in bankruptcy is possible. This is a solution for those bankrupts who nevertheless have the prospect and ability to reach an agreement with their creditors. An arrangement in bankruptcy can be a good instrument for the preservation of the bankrupt’s business and its acquisition or takeover by one of the creditors or an investor.
As a law firm, we also provide services to creditors – for example, we represent them at creditors’ committees, also acting as chairman of the committee.
SERVICES
Our offer includes:
Bankruptcy, including prepared liquidation (pre-pack)
We offer professional preparation of bankruptcy petitions, taking care of the legal security of executives. We advise all participants in bankruptcy proceedings. We represent clients before the interim court supervisor, trustee, bankruptcy court. We also have extensive experience in preparing applications for prepared liquidation.
Restructuring, including liquidation arrangement
We develop strategies for clients for restructuring – judicial and extrajudicial. We provide professional advice in all available restructuring proceedings. We support Clients in negotiations with key creditors. We also propose unconventional solutions – such as a liquidation arrangement combined with deletion of the entity from the National Court Register.
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