In the latest issue of the quarterly Doradca Restrukturyzacyjny http://kidr.pl/kwartalnik-
doradca-restrukturyzacyjny/ poytucolne-numery) (No. 15 1/2019) Bartosz Groele, attorney-at-law and partner at the law firm of TPG and Bartosz Magnowski, an attorney-at-law at the TPG law firm, published an article ” ISSUANCE OF SHARES OF A PUBLIC COMPANY”, in which they discuss the issue of obtaining financing for the restructuring of public joint-stock companies by issuance of shares
On 8 February 2019 the District Court for the capital city of Warsaw in Warsaw dismissed the petition for the declaration of bankruptcy. Said application was filed by a subcontractor against our Client who is one of the leading companies in Poland operating as a general contractor in the construction industry.
In the course of the proceedings before the first instance court our Client was represented by the Law Firm’s Partner, Bartosz Groele, an attorney-at-law and by a restructuring advisor, Bartosz Magnowski, an attorney-at-law. According to the oral rationale behind the decision presented after the decision was announced – the Court concurred with the arguments raised by the representatives of the TPG office who contended that the petition for the declaration of bankruptcy was subject to dismissal under Article 12a of the Bankruptcy Act because the petition was based on a receivable which was disputable in whole.
The issued decision is another important contribution to the adjudication line opposing the practice of filing petitions for the declaration of bankruptcy based on disputed claims. Such petitions are still effectively used by dishonest subcontractors to exert pressure on a contractor to obtain payment for a disputed claim.
Tomasik Pakosiewicz Groele Law Firm has successfully represented the manufacturer of lighting systems, a joint-stock company with its registered office in Warsaw, in the proceedings for the opening of accelerated arrangement proceedings. The Warsaw restructuring court issued a ruling in this matter on February 26, 2019.
The court shared the company’s arguments, giving the primacy to the principles of transparency of proceedings and the concordant wishes of the participants, and granted, among others, the objections raised regarding:
– unreasonable declaration of the inadmissibility of changing the arrangement proposals in the voting mode, without convening the creditors’ meeting,
– harming creditors by canceling the rehabilitation proceedings in a situation where both the creditors and the debtor were interested in continuing it,
– the inadmissibility of applying the provisions on the withdrawal of the claim (per analogiam) to the withdrawal of arrangement proposals by the debtor.
As a result of a complaint submitted under the direction of Bartosz Grele, Partner of the Law Office, and drawn up by the team of the TPG Law Firm (advocate Bartosz Magnowski, Agnieszka Kunisz, Wojciech Młocek) on 15/01/2019, the District Court in Warsaw quashed the decision to discontinue sanation proceedings against Hawe Telekom and it remanded the case. This is undoubtedly a precedent and a momentous ruling that can significantly affect the whole of the judicial practice in restructuring matters in Poland. We will provide more details after the publication of the rationale for the order.
On December 10-14, 2018 Bartosz Groele, Partner at the Law Office, is representing Poland on behalf of the Ministry of Enterprise and Technology in the 54th session of the V Working Group of UNCITRAL (UN Commission on International Trade Law) in Vienna.
On 15 November 2018 Bartosz Groele, an advocate and Partner of the Law Firm, together with Małgorzata Sawa, attorney-at-law, participated in an open hearing before the Supreme Court concerning the legal issue submitted by the District Court for the Capital City of Warsaw in connection with the doubt that arose over the issue of joint marital co-ownership in bankruptcy proceedings for the so called consumers. The Supreme Court considered the case, file number III CPZ 59/18, to adjudicate whether proper application of Article 124 section 1 of the Act on Bankruptcy Law in the proceedings towards natural persons not operating business activity should result in a conclusion that if on the day of the declaration of bankruptcy the spouses were subject to marital joint co-ownership regime, then all their assets constitute bankruptcy estate and their division is inadmissible.
The District Court for the Capital City of Warsaw submitted the legal question within the framework of bankruptcy proceedings, file number X GUp 767/17, where the natural person not operating business activity was represented by the restructuring advisor Jarosław Mrożek. However, the adjudication of the legal question may have a bearing for several thousand persons who were faced with the so called consumer bankruptcy.
The Supreme Court, having acknowledged the standpoint expressed by the attorneys regarding the importance of the legal issue in question and its bearing on the conduct of bankruptcy proceedings and the legal consequences and social impact, made a decision to refer the case for adjudication to the Supreme Court sitting in full panel.
Partner of the Law Firm Advocate Bartosz Groele and Advocate and Restructuring Advisor Bartosz Magnowski took part on the 9th of November 2018, in Warsaw in the 10th JUBILEE CONGRESS OF BANOCRATURAL AND RESTRUCTURING LAW INSO 2018. The annual Congress is an important event for practitioners and theoreticians of bankruptcy and restructuring law, which is frequented by a number of highly respected speakers.
Partner of the Law Firm Advocate Bartosz Groele had the pleasure to participate on the 26th of November 2018 in the project and a very instructive conference in Lisbon. The conference: “ACURIA – Assessing Courts’ Undertaking of Restructuring and Insolvency Actions: best practices, blockages and ways of improvement” was abundant in the legends of restructuring law – prof. Bob Wessels, Professor of International Insolvency Law, University of Leiden, Luciano Pazania, President of the Court of Appeal of Rome, Fátima Reis Silva, Assistant to the Portuguese Ministry of Justice/ Judge of the Court of Appeal of Lisbon, as well as Ana Conceição of ACURIA and the Polytechnic Institute of Leiria