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.
Protecting the interests of creditors against dishonest actions by debtors
A creditor affected by asset-stripping by a debtor doesn’t have to remain a passive victim of dishonesty.
Offence of fraudulent encumbrance of assets to frustrate satisfaction of creditors
Sham encumbrance of assets to convince third parties of non-existent legal consequences may constitute a crime. Incurring fictitious obligations is an example.
Selective payment of creditors can be a crime
Arbitrary, selective payment of only certain debts may result in criminal liability of the debtor, including in a case where it is only threatened with insolvency, if such action exposes other creditors to a loss.
Banks lose privileges
Until now, it has been distinctly easier for banks in Poland to secure and later enforce their receivables than for other creditors. Will a new amendment to the Banking Law change this?
When may a creditor assert a fraudulent conveyance action despite the debtor's entering bankruptcy?
A fraudulent conveyance action protects creditors in the event of the debtor’s insolvency. The ability of specific creditors to use this instrument is limited, however, because of the importance of protecting the interests of all creditors.
The creditor's dilemma: Join forces or go it alone?
When assets are being removed from a debtor threatened with insolvency, the creditors face a choice of seeking to set aside such transactions independently, or filing a bankruptcy petition and relying on the actions of the bankruptcy trustee.
A dishonest party may be required to pay a debt through criminal proceedings
The penal sanction of the duty to redress loss or provide satisfaction for injury, which may be imposed on a dishonest debtor by the criminal court, protects the interests of creditors.
Jan Ciećwierz: I have yet to encounter a situation in which the creditors were without hope
An interview with Jan Ciećwierz, a partner Wardyński & Partners, on how debtors avoid paying their obligations and how the law protects creditors from such actions.
