From trustee license to restructuring advisor: The Evolution of the profession, its requirements, and challenges
Research problem and aim of the project
Over the years, the profession of insolvency practitioner in Poland has undergone significant changes, both in terms of legal regulations and the definition of the professional role itself. Until 2016, the profession was regulated by the Act of 15 June 2007 on the trustee's licence. In 2016, with the entry into force of the Restructuring Law, the trustee's licence was replaced by the restructuring advisor's licence. A consolidated text of the Act on the restructuring advisor's licence was subsequently announced by the Marshal of the Sejm of the Republic of Poland on 3 June 2016. The change in the name and scope of duties reflected the expanded nature of the profession, which came to include activities aimed at rescuing companies from bankruptcy. Further significant changes occurred in 2019 with the enactment of the Act of 4 April 2019 amending the Act on the licence of restructuring advisers and certain other acts. This legislation introduced the title of Qualified restructuring adviser, enabling recognition of the most experienced professionals in the field.
As at the end of December 2024, the number of restructuring advisers registered in the National Debt Register (KRZ) was 1976, of which 9% hold the title of Qualified restructuring adviser and in the case of 15 persons, their licence entitlements have been suspended. As at the end of December 2024, a total of 2,243 persons had already passed the examination for applicants for a restructuring adviser licence. The total number of restructuring advisers registered in the KRZ is dominated by those who became qualified after 2016 - 55%.
The aim of the project is to conduct a comprehensive analysis of the profession of insolvency practitioner in Poland, covering both its evolution and current challenges. Based on the collected data and conclusions, recommendations will be formulated to support the further development of the profession and to improve its functioning in the legal, economic and practical context.
Research questions and methods
The project will provide answers to the following research questions:
- How many restructuring advisors are there in Poland, what is their geographical distribution, and in how many courts do they handle cases?
- Does the restructuring advisor exam effectively assess both theoretical knowledge and practical skills required for conducting restructuring and insolvency proceedings?
- Does the profession of restructuring advisor require further regulatory changes, and if so, which aspects should be modified to better align with market needs?
The following research methods are planned to be applied:
- dogmatic-legal analysis,
- quality analysis,
- descriptive statistics and clustering
- expert interviews,
- questionnaire
Significance of the research subject
The profession of restructuring advisor plays a key role in the economic system, supporting businesses in financial distress to regain stability or navigate the bankruptcy process in an orderly and transparent manner. Given its direct impact on businesses, employees, creditors, and the economy as a whole, the restructuring advisor is regarded as a profession of public trust. The implementation of this research project is crucial for identifying gaps in the preparedness of restructuring advisors and addressing unethical practices in the legal and business services market, particularly those associated with so-called predatory law firms. These practices, such as exploiting clients' lack of knowledge, imposing unfavorable terms of cooperation, or conducting proceedings that generate additional costs rather than real benefits, undermine trust in the entire restructuring system. Consequently, this project is significant not only from an academic perspective but also from a practical one.
