Case No.: WA1M/GRz/287/2024
MB/LAW is pleased to announce the successful completion of arrangement approval proceedings for an entrepreneur in the financial intermediation sector, specialising in monetary intermediation and acquiring clients for investment financing.
The entrepreneur had been conducting business since 2005 with registered office in Warsaw. Since 2005, he had been providing financial intermediation services in cooperation with a leasing company in a B2B model. Since 2014, the main services involved acquiring clients seeking financing of investments in the course of their business activity. The entrepreneur operated as a sole trader without employees. The business assets included a passenger car valued at approximately PLN 40,000.
Due to the increase of social insurance contributions (ZUS) in 2024 (contributions exceeded PLN 2,700 per month), the rise in interest rates since 2020 (income was insufficient to cover monthly liabilities; significant increase in loan instalments), high inflation, rising operational costs (rent, fuel, living expenses), a significant decline in income (liquidity disruption), and enforcement actions that threatened to trigger a debt spiral, the entrepreneur fell into financial distress starting in 2024.
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 for the Capital City of Warsaw dated 3 January 2025.
- Social Insurance Institution (Group 1) – full repayment of the claim (including interest accruing from the opening of the proceedings) in 48 monthly instalments (instalments 1–47 in the amount of PLN 500; instalment 48 balancing the remainder), with a 3-month grace period,
- other public creditors (Group 2) – remission of interest and other ancillary costs; no interest accrual from the date the arrangement becomes final; repayment of 100% of principal in 60 monthly instalments (instalments 1–59 at 1.65% of principal, instalment 60 at 2.65%), with a 3-month grace period,
- creditors with claims > PLN 100,000 (Group 3) – repayment of 100% of principal, interest and fees in 60 equal monthly instalments with variable interest (5% margin + WIBOR 3M) from the date of final approval; 2-month grace period,
- creditors with claims of PLN 50,000–100,000 (Group 4) – remission of interest and ancillary costs; no interest accrual from the date of final approval; repayment of 100% of principal in 60 monthly instalments (variable instalment amounts), with a 3-month grace period,
- remaining creditors (Group 5) – remission of interest and ancillary costs; no interest accrual from the date of final approval; repayment of 100% of principal in 60 monthly instalments (variable instalment amounts), with a 3-month grace period,
- the arrangement was adopted under Article 119(3) of the Restructuring Law – 80.9% of the value of voting claims supported the arrangement,
- continuation of business activity in the financial intermediation sector was ensured.
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