A portfolio of receivables as collateral: Pledge or assign?
In various types of financing transactions, one of the borrower’s main assets is a portfolio of receivables, e.g. under leases (when financing commercial property) or under loans (when the borrower is in the business of granting loans). In such cases, the lender seeking effective security will often require such a portfolio to serve as collateral.
Liability for representations and warranties concerning the condition of the company in a corporate sale
Making false representations about the state of tax liabilities of a company being sold may make it necessary to cover the buyer’s losses, even years after the transaction.
Reservation of title to sold goods
Reservation in the sales contract of ownership of the goods until full payment of the purchase price by the buyer increases the security of a supplier of raw materials and semi-finished products to a customer threatened with insolvency.
The position of the security agent in in-court restructuring proceedings
What banks should pay attention to when granting consortium financing or considering restructuring of consortium debt.
Pre-packaged insolvency: A new debt recovery tool for financial institutions in Poland?
The pre-packaged insolvency (“pre-pack”) may become an effective debt recovery tool for financial institutions who are secured creditors, when the debtor is insolvent and the lender seeks to quickly cash out its collateral at the best price. This can also apply when in-court restructuring proceedings for the debtor are commenced but then discontinued.
The owner does not always have to pay the holder for improvements to property
An interesting ruling was issued in a case we were handling. After the independent possessor of real estate turned the property over to the owner, it demanded payment for the expenditures it had made on the property, including construction of a building on the site. But does construction always raise the value of the property?
The European account preservation order
Creditors can now attach debtors’ bank accounts under uniform rules across all EU member states.
Changes in inheritance law
New rules on heirs’ liability for decedents’ debts are the most significant changes in the set of amendments to the Civil Code and the Civil Procedure Code, among other acts, effective 18 October 2015.
Amendments to Polish inheritance law—analysis and evaluation of proposed changes
Work is underway in the Parliament on a government bill to amend the Civil Code and the Civil Procedure Code in a way that would significantly modify the rules for heirs’ liability for debts inherited from the decedent. The first reading of the bill has already been held and it is expected to be approved by the Sejm soon.
Should Poland ratify the Cape Town Convention?
The Convention on International Interests in Mobile Equipment offers strong protection to sellers, lessors and financers of aircraft. More and more European countries are considering ratification of the convention. Should Poland be one of them?
New rules for recognition and enforcement of judgments—does easier mean better?
From January 2015 creditors holding a judgment issued in an EU member state will be able to obtain recognition or enforcement of the judgment in another member state without initiating an additional court proceeding.
A criminal case can also be settled
Legal measures for amicable resolution of a criminal case initiated by a creditor to enforce a receivable against assets depleted by the unlawful acts of the debtor.
