Case No.: GD1G/GRz/176/2024
MB/LAW is pleased to announce the successful completion of arrangement approval proceedings for an entrepreneur operating in the hospitality industry, specializing in running a bar and organizing special events.
The entrepreneur provided catering and bar services, including events such as karaoke nights and live sports broadcasts. The premises were operated under a lease agreement located within a military facility. To maintain financial security, the entrepreneur also relied on additional income from employment as an educator.
Due to the COVID-19 restrictions, a severe drop in sales in the hospitality sector, rising fixed operating costs (licence fees, rent), sharp increases in interest rates imposed by the National Bank of Poland, and unfavourable tax changes under the “Polish Deal,” the business experienced significant financial distress.
Thanks to the efforts of the arrangement supervisor — Attorney-at-Law Michał Burek, LL.M., Licensed Restructuring Advisor No. 1665, together with his support team — it was possible to reach an agreement with creditors, conduct the voting, and secure approval of the arrangement. The plan was confirmed by a decision of the District Court Gdańsk-North in Gdańsk on 21 February 2025.
Key Results of the Arrangement
- Full remission of interest and ancillary costs for creditors in Groups 2, 3, and 4.
- No further interest accrual from the date the confirmation decision becomes final.
Group 1 – Secured Creditor
- Full repayment of the claim in accordance with the original terms of the loan agreement.
Group 2 – Large creditors (claims above PLN 200,000)
- Repayment of 100% of principal in 80 monthly instalments after a 4-month grace period
- Instalments 1–20: 0.5% of the claim each
- Instalments 21–80: 1.5% of the claim each
Group 3 – Medium creditors (claims from PLN 150,000 to 200,000)
- Repayment of 100% of principal in 84 equal monthly instalments after a 4-month grace period.
Group 4 – Remaining creditors
- Repayment of 100% of principal in 100 equal monthly instalments after a 4-month grace period.
Total debt covered by the arrangement:
Over PLN 750,000 owed to 6 creditors.
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