Legal regulations favoring and impeding the integrity of the debtor's enterprise in restructuring and bankruptcy proceedings

Research problem:

Bankruptcy and Restructuring Law is rarely the subject of scientific research, which aims at assessing it from the point of view of the purposes set by the legislator before bankruptcy (PU) and restructuring (PR) proceedings. Meanwhile, it seems extremely important to answer the question to what extent the normative solutions adopted by the legislator in the field of regulating the course of PU and PR allow achieving the basic objectives of those proceedings.

The research problem that is the subject of the project is to examine the relationship between a specific content of legal regulations and the probability of the enterprise's existence in bankruptcy (PU) and restructuring (PR) proceedings.

The main scientific objective is to create a model of legal regulation favoring the existence of the enterprise in PU and PR.

Justification for undertaking study:

From the point of view of the development of science, it is important to discover which legal regulations favor and which impede the achievement of goals that have been adopted by the legislator in accordance with the system of values he represents. Therefore, it is justified to examine the impact of the Bankruptcy and Restructuring law and other legal regulations on the insufficient number (in relation to social and economic needs) of enterprises preserved in the PU and PR.

The conducted research will reveal the relationship between the specific content of the normative regulation and the degree of probability of the bankrupt enterprise's existence in bankruptcy and restructuring proceedings.

The research project is innovative - it combines empirical research (file research) with dogmatic and legal research of Polish law and comparative research related to selected legal orders and EU law.

The main scientific objective:

The main scientific objective of the project is to create a model of the course of bankruptcy and restructuring proceedings favoring the existence of the enterprise in PU and PR.

The applied research method/methodology:

The applied research method will be a dogmatic and legal method as well as an empirical research. The dogmatic method will be used to analyze the Bankruptcy Law and the Restructuring Law, justifications and other documents connected with the course of the legislative process. Empirical research will include the analysis of files.

Team:

PhD Anna Hrycaj, Prof. of Łazarski University, e-mail: anna.hrycaj@lazarski.pl 

Bartosz Sierakowski, MA, e-mail: bartosz.sierakowski@zimmerman.com.pl

Jakub Majewski, MA, e-mail: jakub.majewski@lazarski.pl 

Results of the implemented research tasks:

  • Scientific articles:

a)     Purpose: restructuring, A. Hrycaj, P. Filipiak, Na wokandzie nr 23, 2014.

b)     Four restructuring proceedings, A. Hrycaj, Doradca Restrukturyzacyjny No. 1, 1/2015.

c)     Detriment to creditors as a reason for refusing to open restructuring proceedings,

A. Hrycaj, Doradca Restrukturyzacyjny nr 3, 1/2016.

  • Conferences:

a)     "Collateral security in restructuring and bankruptcy" - June 4, 2019, WPiA UAM, Poznań;

b)     "Appeals against a debtor's legal act detrimental to creditors" - November 30, 2018, Łazarski University, Warsaw;

c)     "Ineffectiveness of legal actions in bankruptcy and restructuring law" - May 18.

PhD Anna Hrycaj
Head of the Institute for Bankruptcy, Restructuring Law and Insolvency Research

Professor of the Lazarski University, judge of the District Court in Warsaw with over twelve years of judicial experience in bankruptcy cases, government representative in the framework of legislative work on bankruptcy and restructuring law in the Sejm and Senate, member of Legislative Council of the 13th term, member of the Steering Committee of the National Register of Debtors, member of the Management Board Association of Bankruptcy and Restructuring Judges. In 2010-2011, a member of the state Examination Committee established by the Minister of Justice for people who apply for a trustee's license. In 2012, European Commission expert on the amendment to the European bankruptcy law. From 2013, chairman of the team appointed by the Minister of Justice for the preparation of bills in the field of bankruptcy and restructuring law. Member of the bankruptcy law section of the Allerhand Institute, Judicial Wing of Insol Europe and the International Insolvency Institute.

Author and co-author of a number of publications on enforcement and bankruptcy proceedings, including: "Execution practical", "Trustee in bankruptcy", "Patterns of letters and judgments in bankruptcy and reorganization", "European bankruptcy law", "Bankruptcy and bankruptcy law. restructuring. Commercial Law System. Volume 6 "," Restructuring Law. Comment "," Specimen pleadings and court letters in restructuring proceedings ".

Bartosz Sierakowski
legal adviser, restructuring advisor

Attorney-at-Law and licensed restructuring advisor, partner at Zimmerman and Wspólnicy sp. k. and Vice-Chairman of the management company Zimmerman Filipiak Restructuring S.A., member of the higher Disciplinary Court at the National Chamber of Restructuring Advisors. He specializes in bankruptcy and restructuring law and civil and enforcement proceedings. In his professional practice, he has participated in the largest insolvency, remedial, and restructuring proceedings in Poland, advising both creditors and debtors. He conducts training for entrepreneurs and financial institutions in the field of the aforementioned areas of law. He also teaches bankruptcy and restructuring law in postgraduate studies at Łazarski University in Warsaw and at Adam Mickiewicz University in Poznań.

Bartosz Sierakowski is the author and co-author of numerous articles in the field of bankruptcy, restructuring, enforcement, published in the Bank Law Monitor, Trade Law Monitor, Restructuring Adviser, Real Estate and The Economic and Sociological Legal Movement. He is also an expert for the Dziennik Gazeta Prawna (Legal Newspaper) and TVN Biznes and Świat as well as a co-author of the following book publications, including commentary on laws:

  • "Restructuring law. Commentary on the Law" (Warszawa 2017, Infor),
  • "Act on the Bank Guarantee Fund, the deposit guarantee scheme and the forced restructuring. Comment." red. R.Sura, P. Zawadzka, p. Zimmerman (Warszawa 2017, CH Beck),
  • "Designs of procedural and judicial documents in restructuring proceedings." red. A. Hrycaj, P. Filipiak (Warsaw 2016, Wolters Kluwer).

Bartosz Sierakowski also conducts research on the effectiveness of insolvency proceedings, his scientific interest focuses around the issues of the so-called liabilities of the bankruptcy estate. He is also a keynote speaker at many nationwide conferences and training devoted to insolvency issues.

Jakub Majewski
Secretary of the Institute

Secretary of the Institute for Bankruptcy, Restructuring Law and Insolvency Research, PhD student at the Institute, licensed restructuring advisor. Law graduate at Lazarski University, completed post-graduate management studies Audit and Internal Control in State-owned Enterprises at University of Warsaw Faculty of Management and post-graduate studies in Restructuring Law at Lazarski University.

Over 12 years of experience with banking institutions where he gained his spurs in departments in charge of claim recovery. In his job as restructuring advisor, he was appointed interim administrator and official receiver in numerous proceedings conducted before bankruptcy courts in Warsaw, Białystok and Poznan.