Case No.: EL1E/GRz/44/2024
MB/LAW is pleased to announce the successful completion of arrangement approval proceedings for an entrepreneur in the photovoltaic industry, specialising in the installation of photovoltaic systems and the provision of electrical services.
The entrepreneur had been conducting business since April 2021, with headquarters in Kiełpiny. The business included the construction of photovoltaic farms and the installation of photovoltaic systems for corporate and individual clients. The entrepreneur employed one person on a half-time basis.
Due to a dispute with a contractor who failed to pay for completed services (arrears of approx. PLN 177,144 net, with court proceedings pending and a non-final payment order issued), the inability to quickly recover the receivable (extended court process, uncertainty regarding enforceability), an unprofitable contract entered into at the end of 2023, a liquidity crisis (all bank accounts seized by a bailiff in February 2024), enforcement actions (planned seizure of the delivery vehicle by the Tax Office, fiscal pledge on the vehicle), and high inflation further worsening liquidity issues, the entrepreneur fell into financial difficulties.
Thanks to the actions of the arrangement supervisor, attorney-at-law Michał Burek, LL.M., qualified restructuring advisor (licence no. 1665), and the support team, it was possible to reach an agreement with creditors, conduct the voting process, and adopt the arrangement. This was confirmed by a decision of the District Court in Elbląg dated 31 December 2024.
- Zakład Ubezpieczeń Społecznych (Group 1) – full repayment of the claim including interest in 125 monthly instalments (0.83% of principal per month) with a 4-month grace period,
- public creditor secured in rem (Group 2) – remission of interest and ancillary costs, repayment of principal in 125 monthly instalments (0.83% of principal per month) with a 4-month grace period,
- major creditors (Group 3, claims ≥ PLN 50,000) – repayment of 100% of principal and interest in 60 principal-and-interest instalments with contractual interest and a 2-month grace period,
- minor creditors (Group 4, claims < PLN 50,000) – remission of interest and ancillary costs, no interest accrued from the date the arrangement becomes final, repayment of 80% of principal in 60 monthly instalments (instalments 1–40: 1% of principal; instalments 41–60: 2% of principal), with a 3-month grace period,
- private creditor test positive – creditor satisfaction under the arrangement is significantly higher than in bankruptcy proceedings (estimated bankruptcy costs: PLN 179,666.88; value of assets: PLN 246,666.67),
- the employment position for the employee was preserved.
If you are facing liquidity problems or financial difficulties, we encourage you to contact us.
We treat every case individually and comprehensively.
We negotiate with creditors, prepare realistic restructuring proposals, and actively support entrepreneurs in regaining financial stability.
