Company insolvency due to COVID-19 is no longer required to apply for bankruptcy at the time of the outbreak and during the epidemic. Such a solution, prepared at the Ministry of Justice for entrepreneurs who fall into problems due to the coronavirus pandemic, was included in the Sejm and signed by the President of Poland with a new anti-crisis shield 2.0.
The Ministry of Justice, in cooperation with the Ministry of State Acts and the Attorney General of the Republic of Poland, prepared an amendment concerning the obligation to file a bankruptcy application.
Bankruptcy law provides that the debtor must within 30 the days from the date on which the ground for declaration of bankruptcy occurred, submit a request for its declaration to the court.
This deadline - thanks to the amendment of the rules - will not begin the run, and will be interrupted if the insolvent is created during an outbreak or during an epidemic. After the outbreak has been canceled, the deadline will run again.
This solution is addressed to those entrepreneurs who were solvent prior to the outbreak and whose insolvency is a consequence of the circumstances associated with the spread of coronavirus. The proposal of the Ministry of Justice introduced in the Anti-crisis Shield will help to focus on the rescue of businesses, including through measures that are made available under subsequent regulations prepared by the government, without the need to apply for bankruptcy.
All other details about the law contained in the Crisis Shield can be found in our Guide: www.russellbedford.pl/services/anti-crisis guide