General Remarks on Polish Bankruptcy Law

After Poland regained its independence in 1918, Polish bankruptcy law was based on provisions enacted by invaders what resulted in four diff erent binding systems in various parts of Poland. A unitary bankruptcy law was introduced in 1934 in a form of presidential executive orders, the fi rst regulating liquidation and the second one governing the procedure of reorganization. Both of these orders were modifi ed in 1990 and 1997 when a term of merchant was replaced by term of entrepreneur. As it is widely underlined, not only economic and legal aspects caused that a bankruptcy law has been updated. Also a linguistic level required enactment of a modern law1. In 2003 a new law was enacted and it is still valid, however it was modifi ed several times, including the last change dated on 31st of December, 2014. Th is act is entitled Th e Bankruptcy and Reorganization Law (further: the BRL). It consists of six parts: General rules relating to bankruptcy law and its eff ects, Cross borders proceedings, Separate bankruptcy proceedings, Reor-