Case No.: OL1O/GRz/36/2023
MB/LAW Law Office is pleased to report the successful completion of a restructuring approval procedure for a company operating in the online sales sector.
The business specializes in e-commerce, offering industrial, automotive, tool, and home & garden products. Financial difficulties began during the COVID-19 pandemic, which forced the company to change its business model. The situation worsened with sharp interest rate hikes, rising operational costs, inflationary pressure, and the negative impact of tax reforms introduced under the “Polski Ład” programme.
After an in-depth financial assessment and analysis of the company’s repayment capacity, the MB/LAW team, led by attorney-at-law Michał Burek, LL.M., licensed restructuring advisor (no. 1665), recommended initiating a restructuring approval procedure (PZU). Concrete restructuring proposals and a recovery schedule were prepared.
By decision of the District Court in Olsztyn, dated 7 August 2023, the arrangement was officially approved.
Key outcomes of the approved plan:
- Full waiver of statutory and penalty interest, as well as court and enforcement costs (for creditors in Group 3),
- Debt repayment spread over 96 monthly instalments (for Group 1 creditors),
- Secured creditors included in the arrangement,
- Continuation of regular repayment according to the credit schedule (for creditors in Group 2),
- Flexible option for early repayment.
Creditors in Groups 2 and 3 unanimously supported the arrangement. The vote from Group 1 creditor (Alior Bank) was submitted after the deadline and was therefore not considered. Nevertheless, pursuant to Article 119(3) of the Restructuring Law, the arrangement was legally adopted — the value of claims supporting the plan exceeded 2/3 of the total, and the conditions offered were more favourable than those available in potential bankruptcy proceedings.
If your business is losing liquidity or facing mounting debt — contact MB/LAW. We analyse each case individually.
The team led by Michał Burek develops effective legal and financial strategies, negotiates with creditors, and implements practical restructuring measures that help entrepreneurs regain stability and make a fresh start.
