Poland

Abstract

Reform of the Polish insolvency law completed on 1 January 2016 has substantially changed the legal scene in Poland with instruments available to debtors to complete a reorganisation of their business with success. The reform affected both substantive and procedural law and placed them among the most advanced in the European Union. A substantial increase in the number of opened restructuring proceedings combined with a decreased number of bankruptcy proceedings (on a year to year basis) are indirect proof that the reform has been a success.