PART ONE GENERAL PROVISIONS of the bankruptcy and ITS EFFECTS the title I General provisions SECTION and introductory provisions Article. 1. [range] 1. Act regulates: 1) the rules for the joint investigation of the claims of creditors of insolvent debtors traders;

2) the rules for claims from insolvent debtors individuals-profit-oriented economic activities;

3) the effects of bankruptcy;

4) rules for decommitment of the fallen is a natural person;

5) rules relating to reorganisation proceedings to entrepreneurs at risk of insolvency.

2. the provisions of this Act shall apply also to the other entities referred to in the Act.

Article. 2. [proceedings] 1. The proceedings governed by law must be carried out so that the claims of creditors can be met as much as possible, and if reasonable grounds permit-enterprise of the debtor has been preserved.

2. the procedure governed by law to individuals not involved in economic activities should be carried out so as to allow the waiver of liability the bankrupt unfinished in bankruptcy proceedings, and if it is possible to satisfy the claims of creditors as much as possible.

Article. 3. [the conditions for the opening of proceedings] Proceedings governed by law may be initiated only upon a request made by the entities referred to in the Act.

Article. 4. [the correct application of the provisions of] the provisions of the first part shall apply mutatis mutandis to other types of standardised procedures in the Act, unless a special law provides otherwise.



SECTION II personal scope of application of law Art. 5. [the entities to which it applies the provisions of the Act] 1. The provisions of the Act apply to entrepreneurs within the meaning of the Act of 23 April 1964 – Civil Code (OJ No 16 item 93, as amended), unless this Act provides otherwise.

2. The provisions of the law also apply to: 1) limited liability companies and joint stock companies not involved in commercial activities;

2) shareholders corporate responsibility for bearing the personal commitment of the company without limit all its assets;

3) shareholders of the company.

Article. 6. [the prohibition of publication of bankruptcy] cannot be declared bankrupt: 1) the State Treasury;

2) local government units;

3) public independent health care facilities;

4) institutions and legal persons created by the Act, unless this Act provides otherwise, and created in the execution of an obligation imposed by law;

5) individuals engaged in the holding, which do not lead to another business or profession;

6).

Article. 7. [the application for a declaration of bankruptcy in the event of death of an entrepreneur] in the event of death of an entrepreneur, you can declare bankruptcy, if the application for a declaration of bankruptcy has been made within one year from the date of his death. Application for a declaration of bankruptcy may make a promise, as well as the heir, and spouse and each of the children or the parents of the deceased, even if not dziedziczyli after him.

Article. 8. [the insolvency of individuals that have ceased economic activity] 1. You can request a declaration of bankruptcy of a natural person, who was a trader, also after ceasing the conduct of its business, if from deletion with the proper registry not expired during the year.

2. the provision of paragraph 1. 1 shall apply mutatis mutandis to persons who cease to be members of the personal trading companies.

Article. 9. [the bankruptcy of people doing business not registered in the register] you can request a declaration of bankruptcy of a natural person, which actually carry out an economic activity, even if they do not fulfil the obligation of notification in the appropriate registry.



SECTION III Fundamentals of bankruptcy Article. 10. [debtor insolvency] Bankruptcy shall be in relation to the debtor, which became insolvent.

Article. 11. [cessation obligations] 1. The debtor shall be deemed to be insolvent if it does not perform its maturing liabilities.

2. A debtor who is a legal person or an organizational unit without legal personality, which separate the law recognizes the legal capacity shall be considered to be insolvent when its liabilities exceed the value of its assets, even if to date these commitments.

Article. 12. [delay in performance of obligations] 1. The Court may reject the application for a declaration of bankruptcy, if the delay in the implementation of commitments does not exceed three months, and the sum of current liabilities does not exceed 10% of the carrying amount of the debtor undertaking.

2. The provisions of paragraph 1. 1 shall not apply if the failure to perform obligations is persistent or dismiss the application may cause the adverse effect on Weichert does creditors.

3. In rejecting the application for a declaration of bankruptcy, the Court on application by the debtor may allow the initiation by the debtor to reorganisation proceedings, if there are no obstacles referred to in article 1. 492 paragraph. 3. Article. 13. [Bankruptcy] 1. The Court gave an application for a declaration of bankruptcy, if the assets of the insolvent debtor is not sufficient to meet the costs of the proceedings.

2. The Court may dismiss the application for a declaration of bankruptcy in the event of a finding that the debtor's assets is charged to the mortgage, Lien, liquidations, tax lien or mortgage the sea to such an extent that the remainder of his fortune is not sufficient to meet the costs of the proceedings.

2A. [1] in rejecting the application for a declaration of bankruptcy, the Court shall determine whether the material gathered on gives rise to solutions entity entered into the national court register without liquidation proceedings.

3. The provisions of paragraphs 2 and 3. 1 and 2 shall not apply if it is ascertained that the load of the debtor are ineffective according to the provisions of the Act or when made to harm creditors, as well as when it is ascertained that the debtor has made other legal acts test according to the provisions of the Act that rid myself of assets sufficient to cover the costs of the proceedings.

Article. 14. [the insolvency of the debtor, with the possibility of the conclusion of the] 1. If it is ascertained that the layout of the creditors will be satisfied in a higher degree than were satisfied after the insolvency proceedings involving the liquidation of the assets of the debtor shall be the bankruptcy of the debtor, with the possibility of the conclusion of the agreement.

2. Bankruptcy proceedings with the possibility of the conclusion of not, when due to the previous behaviour of the debtor, there is no certainty that the layout will be made, unless the composition proposal provide for no more than a system.

Article. 15. [Bankruptcy involving liquidation of the debtor's assets] if there are no grounds for bankruptcy with the possibility of the conclusion of, declared bankruptcy involving liquidation of the debtor's assets.

Article. 16. [change the conduct of insolvency proceedings] the Court may change the manner in which the insolvency proceedings the proceedings involving the liquidation of the assets of the bankrupt on dealing with the possibility of the conclusion of the agreement, if the base of the conduct of such proceedings have revealed only after the Declaration of bankruptcy. Changing the way the proceedings are subject to the notice in the Gazette.

Article. 17. [change the way insolvency proceedings] 1. The Court may change the manner in which the insolvency proceedings from proceeding with the possibility of the conclusion of the proceedings involving the liquidation of the assets of the bankrupt, if the base of the conduct of such proceedings have revealed only in the course of the proceedings. Changing the way the proceedings are subject to the notice in the Gazette.

2. In order to change the conduct of insolvency proceedings shall be entitled to appeal.

3. The provisions of paragraph 1. 2 shall not apply if the obligation to change the conduct of insolvency proceedings from proceeding with the possibility of the conclusion of the proceedings involving the liquidation of the assets of the bankrupt derives from the Act.



Title II of the proceedings of bankruptcy and Court Art. 18. [composition of the Court] cases of bankruptcy recognizes the bankruptcy court composed of three professional judges. The bankruptcy court is the District Court is a court.

Article. 19. [jurisdiction] 1. To resolve cases of bankruptcy is bankruptcy court, competent for the main business of the debtor.

2. If the debtor has establishments in the areas of the properties of various courts and it is difficult to determine which of them is the main establishment, is each of these courts.

3. If the debtor is not in the Republic of Poland of the undertaking, the competent court of the place of residence or registered office of the debtor, and the debtor is not in the Republic of Poland of the place of residence or registered office, the Court, in whose territory the debtor's assets.



TITLE II Request for bankruptcy Article. 20. [shall be entitled to submit an application for a declaration of bankruptcy] 1. Application for a declaration of bankruptcy may report the debtor or its creditors.

2. the application may report also:


1) in relation to a partnership, a partnership, a limited partnership and limited liability partnership limited by shares company-each of the partners of the corresponding without limiting the liabilities of the company;

2) in relation to legal persons and organizational units without legal personality, which separate the law recognizes the legal capacity – anyone who has the right to represent himself or together with other persons;

3) in relation to the State enterprise is also the founding authority;

4) in relation to a sole proprietorship company of the State Treasury, including the competent minister of the Treasury;

5) in relation to a legal person, partnership, partnership and limited partnership and limited liability partnerships, which are in liquidation-each of the liquidators;

6) in relation to a legal person entered in the national court register – curator, established on the basis of article. 26 paragraph. 1 of the Act of 20 August 1997, of the national court register (Journal of laws of 2007, # 168, poz. 1186, with further amendments);

7) in relation to the debtor, which was granted public aid in excess of 100 000 euro-authority granting aid.

Article. 21. [the debtor's Obligation of submission of the application for a declaration of bankruptcy] 1. The debtor is obliged, no later than two weeks from the date on which she appeared for the basis for the Declaration of bankruptcy, the report in court an application for a declaration of bankruptcy.

2. If the debtor is a legal person or any other organizational unit without legal personality, which separate the law recognizes the legal capacity, the obligation referred to in paragraph 1. 1, the onus is on anyone who has the right to represent it alone or together with other people.

3. the persons referred to in paragraph 1. 1 and 2, shall be liable for damage caused as a result of failure to request within the time limit referred to in paragraph 1. 1.4. In the application for a declaration of bankruptcy the debtor, which does not apply to article. 492 paragraph. 3, can be also to allow initiation of reorganisation proceedings, if the delay in the implementation of the commitments is not sustainable, and the sum of current liabilities does not exceed 10% of the carrying amount of the debtor undertaking.

Article. 22. [content of the proposal for bankruptcy] 1. Application for a declaration of bankruptcy should contain: 1) first and last name of the debtor, its name or the company, place of residence or registered office, and when the debtor is a partnership or a legal person-representatives of companies or other legal persons and liquidators, if they are established, and in addition, in the case of a company the names and place of residence of the shareholders responsible for the liabilities of the company without limitation;

2) the designation of the place in which the company or any other property of the debtor;

3) an indication of the circumstances which justify the request and their prima facie evidence;

4) information whether the debtor is a member governed by Polish or governed by the law of another Member State of the payment system or securities settlement system within the meaning of the law of 24 August 2001 on settlement finality in payment and securities settlement systems and the principles of supervision of these systems (Journal of laws of 2010 # 112, poz. 743, as amended) or non-participant in the interoperable system operator for the purposes of this Act;

5) whether the debtor is a public company within the meaning of the provisions of the Act of 29 July 2005 on public offer and the conditions of introduction of financial instruments to organised trading system and on public companies (OJ of 2009 # 185, poz. 1439, 2010 No. 167, item 1129 and 2012.836).

2. If the debtor is entrepreneur entered in the appropriate register, the application shall be accompanied by a certificate or a statement of registration in the register containing the designation of the company or the name, legal form, registered office and number in the appropriate registry. If the debtor is the applicant should indicate in a statement persons entitled to represent him.

2A. The declaration referred to in paragraph 1. 2, consists of under penalty of perjury. The applicant is obliged to claim the conclusion in the clause reads as follows: "I am aware of criminal liability for submitting a false statement.". This clause overrides instruction authority of criminal prosecution for perjury.

3. If the application throws a creditor, the provisions of paragraph 1. 1 paragraph 4 does not apply.

Article. 23. [scope of application and the annexes thereto] 1. If the application for a declaration of bankruptcy the debtor should in addition proposal, reports specify whether requests for a declaration of bankruptcy, with the possibility of the conclusion of the agreement, or bankruptcy involving liquidation of its assets. In addition, the application should include: 1) an up-to-date list of assets with an estimated valuation of its components;

2) balance sheet drawn up for the purposes of these proceedings, on a day not later than thirty days before the date of submission of the application;

3) list of creditors with their addresses and the amount of the claims of each of them and the time limits for payment, as well as a list of security made by the creditors on his property along with the dates of their establishment;

4) a statement of the payments of claims or other debts made within a period of six months before the date of submission of the application;

5) list of obliged entities materially to the debtor, together with addresses, identifying the claims, the date of their creation and the terms of payment;

6) list of enforcement and implementing titles against the debtor;

7) about the procedures relating to the establishment of the debtor of mortgages, liens, liens and tax liens registered and other charges subject to entry in the land register or registers, as well as having carried out other judicial or administrative proceedings concerning the debtor's assets;

8) information on the place of residence of representatives of companies or other legal persons and liquidators, if it is established.

2. If the debtor claims that the bankruptcy with the possibility of the conclusion of the agreement, should also attach to the conclusion: 1) composition proposal, together with the proposals for the financing of the implementation of the agreement;

2) cash flow statement for the last 12 months, if he was obliged to keep documentation to draw up such an account.

3. If the debtor cannot attach to the application the documents referred to in paragraph 1. 1 and 2, should state the reasons why their unsuitable and giving rise to them.

Article. 24. [prima facie evidence of the existence of the claim] if the application for a declaration of bankruptcy report created, should balance his claim, and in addition, if the claims that the bankruptcy with the possibility of the conclusion of the agreement, should include the initial composition proposal.

Article. 25. [a statement of the accuracy of the data contained in the application] 1. Together with the application for a declaration of bankruptcy, the debtor is obliged to make a statement in writing as to the veracity of the data contained in the application.

2. If the statement referred to in paragraph 1. 1, is not true, the debtor is liable for damage caused as a result of providing false data in the application for a declaration of bankruptcy.

3. In the event of the submission of the claims referred to in paragraph 1. 1, the application returns without the debtor's call to its complement.



SECTION III Provisions of the Article. 26. [the Parties] 1. Other party to the proceedings for a declaration of bankruptcy is anyone who has submitted an application for a declaration of bankruptcy, and the debtor.

2. the submission of an application for a declaration of bankruptcy of the State enterprise or a sole proprietor of the company of the State Treasury, the Court shall immediately notify the appropriate authority of the Constitution or the Minister responsible for the Treasury, that within a period of two weeks may submit to the Court an opinion on.

Article. 261. [establishment of guardian] 1. If the debtor does not have the capacity to process and does not work for the legal representative, as well as where the bodies of a debtor who is a legal person or an organizational unit without legal personality, which separate the law recognizes the legal capacity, it lacks that action, the Bankruptcy Court lays down, for the guardian. Trustee established by art. 26 paragraph. 1 of the Act of 20 August 1997, of the national court register or on the basis of art. 42 of the Act of 23 April 1964 – Civil Code, refers to the guardian referred to in this provision.

2. Appoint a guardian shall not prevent to delete, based on general principles of process or deficiencies in the composition of the bodies that prevent their operation.

3. the remuneration of the trustee shall be the Court of the relevant to the effort the curator. Remuneration of the guardian which has the task to account for goods and services tax shall be increased by the amount of the goods and services tax, as determined in accordance with the applicable rate of tax. On order of the Court shall be entitled to appeal.

4. the provisions of paragraphs 1 and 2. 1 to 3 shall apply mutatis mutandis in the event of the death of the debtor after submission of an application for a declaration of bankruptcy.

Article. 27. [Diagnosis of the case by the Court] 1. The court resolves the case in closed session. However, you may designate a hearing, if deemed necessary.


2. The Court may a private session to carry out inquiries, in whole or in part, even if they were hearing.

3. Provision in case of bankruptcy court issues within two months from the date of submission of the application. A complaint against the decision on the Declaration of bankruptcy the Court of second instance recognizes within one month from the date on which his case.

Article. 28. [Lacks formal application] 1. Application for a declaration of bankruptcy that does not satisfy the requirements of this Act or improperly prepared returns without summons to supplement or pay for the request, if it has been requested by the applicant is represented by a lawyer or legal adviser.

2. within one week from the date of service of the order for return of the reasons referred to in paragraph 1. 1 the proposal again filed, corresponding to the requirements of the statutory and duly paid, shall take effect from the date of the original filing. There is no such effect in the event of another return for the same reason.

Article. 29. [Refund application] If due to the lack of or indicate an invalid address of the debtor, or non-performance of other orders cannot be given on further action, the application for a declaration of bankruptcy is asking.

Article. 30. [Hearing participants] 1. The Court may, if necessary, to listen to the debtor and the creditor, which is the applicant, and the bankruptcy of the State enterprise or a sole proprietor of the company of the State Treasury also respectively the founding body or the representative of the Minister responsible for the Treasury.

2. The Court shall hear the debtor while maintaining the provisions of the code of civil procedure of the hearing of the parties, upon receiving from him a promise.

3. If the hearing referred to in paragraph 1. 2, was impossible or excessively difficult, the Court may require the debtor to make representations in writing with a signature notarized certified, under pain of criminal liability for submitting false testimony. These clarifications are evidence in the case.

4. To listen to the other people apply the recipe article. 217. Article. 31. [expert evidence] the Court may allow the expert evidence in order to examine the State of the company and to the deadline referred to in article 2. 21(1). 1. Article. 32. [legal] 1. (repealed).

2. If the creditor has withdrawn its application for a declaration of bankruptcy after the debtor's obligations referred to in article 1. 11, judicial costs is the responsibility of the debtor.

3. the costs of the procedure is the responsibility of the debtor in the event of rejection of the application on the basis of article. 12 paragraph 1. 1 or article. 13.4. In the cases referred to in paragraph 1. 2 and 3, the debtor is obliged also to reimbursement of costs incurred by the creditor.

5. the Court may require from the applicant the advance on costs of bankruptcy proceedings under pain of rejection of the application. Provision shall not apply where the applicant is the debtor. On order of the Court of appeal is not entitled.

Article. 33. [complaint against the order of the Court] 1. The complaint shall be entitled to a court order terminating the proceeding and in the cases referred to in the Act.

2. the provisions of the Court of second instance further appeal is not entitled.

3. Action for non-compliance with the law of a final judgment is not entitled.

Article. 34. [the filing of the application in bad faith] 1. In the case of filing by a creditor of the application in bad faith, the Court, in rejecting the application for a declaration of bankruptcy, the creditor will be charged the costs and may order the creditor to submit a public statement relevant content and, in the appropriate form.

2. in the case of rejection of the request of the creditor bankruptcy lodged in bad faith, the debtor and a third party is entitled to against the creditor to claim for damages.

Article. 35. [the correct application of the provisions of Ccp] In matters not regulated by this Act to the bankruptcy proceedings shall apply mutatis mutandis the provisions of the book of the first the first part of the code of civil procedure, with the exception of the provisions on the suspension and resumption of the proceedings.



SECTION IV safeguard Proceedings Chapter 1 General provisions Article. 36. [Protection of the debtor] if the application for a declaration of bankruptcy filed the debtor, the Court shall secure the debtor's assets. If an application for a declaration of bankruptcy the creditor has occurred or other authorized security shall be made on request. The Security Court immediately.

Article. 37. [the correct application of the provisions of Ccp] In matters not regulated by this Act to the security procedure shall apply mutatis mutandis the provisions of the code of civil procedure of the proceedings.



Chapter 2 Protection of the debtor's Article. 38. [the establishment of the provisional court supervisor] 1. The Court may secure the debtor's assets by establishing the provisional supervisor. To the temporary supervisor of the Court shall apply mutatis mutandis the provisions of article 4. paragraph 76. 3, art. 157, 159 – 162. paragraph 164. 2, art. 165-168, 170-172, 180 and 181.

2. Pay the provisional overseer of the judicial court at his request made within seven days from the date of notification of the cancellation of or from the date of expiry of the function.

Article. 39. [suspension of enforcement] at the request of the debtor, the Court may suspend the enforcement against him carried out claims falling under the law system, if the execution could prevent or hinder the adoption of a layout. If the suspension applies to the execution of a bank account, the Court may also set aside.

Article. 40. [the establishment of the Board forced] 1. The Court may use other means of protection, including protection by the establishment of the Board forced over the assets of the debtor, if it is feared that the debtor will conceal your wealth or otherwise acted to the detriment of creditors, as well as when the debtor does not perform commands the provisional supervisor.

2. When establishing security by the receivership, the court appoints a trustee of compulsory and specifies the scope and manner of exercise of the Board of Directors.

3. The activities of the debtor concerning his assets in receivership shall apply mutatis mutandis the provisions of article 4. 77-79.

4. forced liquidators shall apply mutatis mutandis provision art. 38 paragraph 2. 2 and the provisions of the Act relating to the insolvency administrator.

Article. 41. (repealed).

Article. 42. [complaint against the order as to the method of security] For provision as to how the security shall be entitled to appeal.

Article. 43. [the expiry of security] after the Declaration of bankruptcy protection in the form of the establishment of the provisional court supervisor or the Board forced fall upon the entry for the estate of the bankrupt in the Board by the trustee or receiver or subscribe for supervision by the judicial administrator. Other security applied by the Court upon application for bankruptcy fall on bankruptcy.



Section V of the preliminary meeting of creditors Chapter 1 General provisions Article. 44. [Convene the initial meeting of creditors] 1. The Court may convene the initial meeting of creditors in order to decide as to how the conduct of insolvency proceedings, the choice of the creditors ' Committee and the conclusion of the agreement.

2. There shall be convened an initial meeting of creditors, unless the circumstances of the case, it appears that his conduct would entail excessive costs to each other, as well as when the sum of the disputed claim exceeds 15% of the total claims.

Article. 45. [Resolution of the initial meeting of creditors] 1. Initial meeting of creditors may take the resolution as to the conduct of further bankruptcy proceedings with the possibility of the conclusion of, or liquidation of assets (proceedings) and the selection of the creditors ' Committee; It can also express an opinion on the selection of the person the trustee, supervisor or Manager.

2. at the initial meeting of creditors, you can also include the layout, if the is involved in it at least half of the creditors who have a total of three quarters of the total debts identified be enforceable either uncontested or uprawdopodobnionych.

3. the draft inventory of claims shall draw up the debtor or a temporary judicial overseer or trustee forced, if it was established. Judge approves the inventory of claims before the resolutions referred to in paragraph 1. 1, and before the conclusion of the agreement referred to in paragraph 1. 2. The claims shall apply mutatis mutandis the provisions of article 4. 245 paragraph. 1 and art. 246-251.

Article. 46. [the Presidency in the initial meeting of creditors] 1. Initial meeting of creditors shall be chaired by a judge appointed to the composition of the court hearing the application for a declaration of bankruptcy.

2. initial meeting of creditors is not deferred. Then the designation is only possible in particularly justified cases. In the absence of the debtor, even justified, does not prevent to take resolutions.

Article. 47. [binding resolutions of the initial meeting of creditors] 1. The Court conducts the proceedings in accordance with the resolution of the initial meeting of creditors on how to conduct and the creditors ' Committee, unless the resolution is contrary to the law.

2. Illegality of the resolution of the initial meeting of creditors, the Court finds by order.


Article. 48. [the correct application of the provisions of the Act] in matters not regulated by this chapter for initial meeting of creditors shall apply mutatis mutandis the provisions of the Act on the meeting of creditors, and in matters relating to the conclusion of the agreement and the effects of the agreement, the provisions of title VI, except that a list overrides the list of claims referred to in article 2. paragraph 45. 3. Chapter 2 the participants in the Article. 49. [the right to participate in the initial meeting of creditors] in the initial meeting of creditors shall be entitled to participate the debtor, the interim judicial overseer or trustee forced established security proceedings and creditors whose claims are found to be enforceable.

Article. 50. [other participants of the initial meeting of creditors] in the initial meeting of creditors shall be entitled to participate also other creditors if their claims are undisputed or ascertained and were admitted by the Court or a judge designated to conduct the initial meeting of creditors.



SECTION VI of the decision on the bankruptcy Article. 51. [for bankruptcy] 1. Having regard to the request for a declaration of bankruptcy, the Court shall make an order about the bankruptcy, in which: 1) lists the name and surname, name or company, place of residence or registered office of the bankrupt (the fallen);

2) specifies how the proceedings;

3) determines whether and to what extent the fallen will hold the Board of his assets, if the proceedings will be conducted with the possibility of the conclusion of the agreement;

4) calls on the bankrupt's creditors to report the claim within the prescribed time limit, being not less than one month and not more than three months;

5) calls on the persons to whom the rights and obligations of personal rights and claims on property belonging to the bankrupt, if it were not disclosed by the entry in the land register, to their application within the prescribed period of not less than one month and not more than three months, on pain of loss of the right to rely on it in insolvency proceedings;

6) designates the official receiver and liquidator, or judicial administrator, or trustee;

7) means the time of order, if a bankrupt is a member governed by Polish or governed by the law of another Member State of the payment system or securities settlement system within the meaning of the Act, referred to in article 1. 22 paragraph 1. 1 paragraph 4, or a non-participant in the interoperable system operator within the meaning of this Act.

2. A decision on the Declaration of bankruptcy is effective and enforceable on the day of its issuance, unless a special law provides otherwise.

Article. 52. [date of issue of the Declaration of bankruptcy] date of issue of the Declaration of bankruptcy is the date of the bankruptcy. In the case of bankruptcy when you resolved the matter in the wake of the repeal of the provisions by the Court of second instance the date of bankruptcy is considered the date of the first provisions on the Declaration of bankruptcy.

Article. 53. [notice of bankruptcy] 1. The bankruptcy order shall be immediately available to the public by notice in the Gazette and the economic and the publication in the official local.

2. A provision in the bankruptcy shall be served on the trustee, judicial supervisor or trustee, to the bankrupt or his heirs and the creditor that requested the Declaration of bankruptcy. A provision of the bankruptcy of the State enterprise or a sole proprietor of the company of the State Treasury shall be served on the authority of the competent Minister or założycielskiemu, respectively, also for the State Treasury.

3. If the debtor is a member governed by Polish or governed by the law of another Member State of the payment system or securities settlement system within the meaning of the Act, referred to in article 1. 22 paragraph 1. 1 paragraph 4, or a non-participant in the interoperable system operator for the purposes of this Act, the bankruptcy order shall be served on the also to the President of the Polish National Bank, after it has been informed at issue provisions on the Declaration of bankruptcy.

4. If the debtor is a public company within the meaning of the provisions of the Act of 29 July 2005 on public offer and the conditions of introduction of financial instruments to organised trading system and on public companies, the decision on the Declaration of bankruptcy are served also to the President of the Commission of financial supervision.

5. Bankruptcy shall notify the financial supervision Commission, as well as the appropriate Chamber of the fiscal and social insurance Department. Notification to the financial supervision Commission follows on the Declaration of bankruptcy and made it with a direct means of communication, such as telephone, fax, email.

6. If the debtor is the operator of the public telecommunications network or the provider of the publicly available telecommunications services within the meaning of the provisions of the Act of 16 July 2004 – telecommunication law (Dz. u. Nr 171, poz. 1800, as amended), the bankruptcy shall be the President of the Office of electronic communications. The notification follows on the Declaration of bankruptcy and made it with a direct means of communication, such as telephone, fax, email.

Article. 54. [complaint against the decision on the Declaration of bankruptcy] 1. On the order of the bankruptcy complaint only to the bankrupt, and the order dismissing the application for a declaration of bankruptcy – only the applicant.

2. The Court of second instance may not rule on bankruptcy.

3. in the event of the repeal of the provisions of the bankruptcy and refer the case back to the bankruptcy trustee, judicial trustee or overseer retain their permissions and actions by them made shall remain in force.

Article. 55. [the bankruptcy order with the possibility of the conclusion of the] 1. If the initial meeting of creditors includes layout, the Court shall make an order of the bankruptcy with the possibility of the conclusion of the together with the provision to approve the agreement.

2. the provisions referred to in paragraph 1. 1, the provisions of art. 51 paragraph 1. 1, points 1, 2, 7 and art. 53. Article. 56. [complaint against the decision on approval of the agreement] 1. The bankrupt's creditors, who have not been informed about the initial meeting of creditors and the creditors who voted against the system, may within two weeks from the date of the notice of approval of the Gazette and economic appeal on a decision on the approval of the agreement.

2. the Court shall quash the decision of the approval of the agreement, if it is unlawful or if it is clear that the arrangement will not be made, as well as when it is grossly unjust for for the creditors, who have filed a complaint.

3. in the event of the repeal of the provisions on approval of the agreement, the Court conducts the proceedings according to the provisions of title II, without having to convene an initial meeting of creditors.



Title III of the effects of the Declaration of bankruptcy and the effects of bankruptcy for people fallen Art. 57. [the indication and the release of all assets by fallen] 1. If it was announced bankruptcy involving liquidation of the assets of the bankrupt, the bankrupt is obliged to identify and deliver to the trustee all his property, and also spend all documents relating to its activities, and, in particular, accounts, other records for tax purposes and correspondence. This obligation to the fallen is confirmed in the form of a statement in writing, which consists of the judge-Commissioner.

2. Fallen is obliged to give to the judge-Commissioner and trustee with all necessary explanations about his assets.

3. The judge-Commissioner may decide to bankrupt who is a natural person does not leave the territory of the Republic of Poland without his authorization.

4. the provision of paragraph 1. 3 shall apply mutatis mutandis to the members of the management body of the fallen which is not a natural person.

5. On the order of the judge-Commissioner, referred to in paragraph 1. 3 and 4, shall be entitled to appeal.

Article. 58. [the application of coercive measures] 1. If the fallen hides or hides his fortune in a case in which the order was issued about bankruptcy involving liquidation of his assets, the judge-Commissioner can apply to the bankrupt coercive measures set out in the code of civil procedure for the execution of non-cash benefits.

2. The judge-Commissioner may apply coercive measures to the fallen, that defaults on its obligations, or after the bankruptcy acts are allowed to hide assets, load it false commitments or in any way difficult to determine the composition of the estate.

3. The judge-Commissioner will repeal the coercive measures when stopping the need for their use.

4. The provision on coercive measures shall be entitled to appeal.


Article. 59. [Provide explanations on the estate] 1. In the event of bankruptcy, with the possibility of the conclusion of the agreement, if the Court does not impose on the fallen more far-reaching responsibilities, the fallen is obliged to give to the judge-Commissioner and supervisor of the Court all necessary explanations concerning his assets concerned, as well as allow the supervisors of judicial review with the company in bankruptcy and, in particular, with its accounting books.

2. To the fallen, that does not perform the obligations referred to in paragraph 1. 1, the referee may use coercive measures set out in the code of civil procedure for the execution of non-cash benefits.

Article. 60. [deprivation of bankrupt law of the Board his assets] in the event of bankruptcy, with the possibility of the conclusion of the agreement, the provisions of article 4. 57 and article. 58 shall apply mutatis mutandis if the fallen was deprived of the right of the Board of his assets.

Article. 601. [Company traded after bankruptcy] after bankruptcy entrepreneur occurs on the market under the current company with the addition of the term "in bankruptcy liquidation" or "ABM".



SECTION II the effects of bankruptcy to the assets of the debtor in Chapter 1 the mass bankruptcy of section 1 General provisions Article. 61. [Mass bankruptcy] from the date of announcement of bankrupt becomes bankrupt, that satisfaction of the creditors of the bankrupt.

Article. 62. [the composition of the estate] part of the estate falls within the property belonging to the bankrupt on the date of bankruptcy and acquired by the bankrupt in the course of insolvency proceedings, subject to article 22. 63 – 67.

Article. 63. [exclusion from the bankruptcy] 1. Not included in bankruptcy: 1) property that is exempt from execution under the provisions of the law of 17 November 1964 – code of civil procedure (OJ No 43, item 296., as amended);

2) remuneration for the work of the fallen in parts of non-attachment;

3) the amount obtained in respect of the implementation of the registration of a lien or a mortgage if bankrupt, he served as administrator of a lien or a mortgage, in proportion according to the agreement established by the administrator to the other creditors.

2. the Resolution of the meeting of creditors may exclude from the insolvency assets other assets in bankruptcy.

Article. 64. [Property intended to help employees of the fallen and their families] 1. Property designed to help employees of the fallen and their families, which are collected in a separate bank account cash Welfare Fund, created on the basis of the provisions of the share of the Welfare Fund, along with the time after the announcement of the bankruptcy of the amounts from the reimbursement of loans for housing, contributions bank interest from this Fund and fees from using the services and social benefits financed from this Fund organized by fallen , is not included in the bankruptcy. Components of this property marks the judge-Commissioner.

2. The property referred to in paragraph 1. 1, manages a bankrupt, unless it has been established by the liquidator, guardian or representative or a representative of the bankrupt established on the basis of the provisions of the State-owned enterprises, spending some 17% collected in a separate bank account of the Fund resources for the purposes and according to the rules set out in the provisions of company welfare fund.

3. unused appropriations referred to in paragraph 1. 1, increase the Fund of guaranteed employee benefits.

Article. 65. [presumption of exclusion of property from the estate] 1. If the trustee in bankruptcy, judicial supervisor or Manager refused to join the judicial or administrative proceedings concerning the property of the bankrupt, or if this has occurred to the proceedings, it shall be presumed that the property concerned is not included in bankruptcy.

2. After termination of the proceedings referred to in paragraph 1. 1, the referee may instruct, judicial supervisor or Manager to incorporate into the insolvency assets imposed fallen in this proceeding.

Article. 65. [Claims by sub-participation agreement] 1. In bankruptcy the bankrupt party by sub-participation agreement referred to in article 1. 183 paragraphs 1 and 2. 4 of the Act of 27 May 2004 on investment funds (OJ No 146, item 1546, as amended), does not include claims which are the subject of this agreement.

2. securitisation Fund is subrogated in the rights of the bankrupt in respect of claims subject to exemption pursuant to paragraph 1. 1, and security of these claims.

3. The administrator or receiver passes the sekurytyzacyjnemu fund benefits received from debtors in respect of the claims referred to in paragraph 1. 1, and debtors in respect of the security of these claims.

Article. 66. [exclusion from the bankruptcy of the participant payment system or securities settlement system] 1. Part of the estate of the participant payment system or securities settlement system, referred to in article 2. 22 paragraph 1. 1 paragraph 4, does not fall within the property fallen mentioned in article 1. 80, as well as other assets necessary for the performance of obligations arising from participation in the system, which arose prior to the bankruptcy, subject to paragraph 2. 3.2. In order to perform the duties referred to in paragraph 1. 1 the operator system is authorized to dispose of the property.

3. the property referred to in paragraph 1. 1, the other after the execution of the obligations arising from participation in the system, into bankruptcy.

Article. 67. [exclusion of collateral laid down in connection with the participation in the system] 1. Subject to the provisions of article 4. 12 of the law referred to in article 1. 22 paragraph 1. 1 paragraph 4, the subject of security laid down in connection with participation in a payment system or securities settlement system within the meaning of the Act, referred to in article 1. 22 paragraph 1. 1 paragraph 4, for the system operator or on behalf of the participant of this system, is not included in bankruptcy: 1) participant in this system or of a participant with the interoperable system that has established it security, 2) non-participant in the interoperable system operator cooperating with this system, 3) any other entity that has established it security – in the event of bankruptcy of any of them.

2. Subject to the provisions of article 4. 12 of the law referred to in article 1. 22 paragraph 1. 1 paragraph 4, item security set up for the benefit of the Polish National Bank, the Central Bank of another Member State within the meaning of the Act, referred to in article 1. 22 paragraph 1. 1 paragraph 4, or of the European Central Bank, by the entity carrying out the operations of these banks or by any other entity, is not included in bankruptcy in the event of bankruptcy of any of them.

3. the rights of the entity for which you have established the security referred to in paragraph 1. 1 or 2, to meet this security does not restrict the Declaration of bankruptcy of the entity that has established it security.



Branch 2 determination of the composition of the bankruptcy Article. 68. [a person providing for the composition of the estate] 1. The bankruptcy trustee, judicial trustee or supervisor shall determine the composition of the estate on the basis of the entries in the books of the fallen and uncontested.

2. in the event of bankruptcy, with the possibility of the conclusion of the judge-Commissioner may provide, to determine the composition of the mass has fallen under the supervision of a supervisor.

Article. 69. [inventory] 1. Determination of the composition of the estate shall be effected by the drawing up of inventories.

2. Along with a list of inventory shall be carried out to estimate the assets included in bankruptcy.

3. It shall be presumed that the things in the possession of the bankrupt on the date of the Declaration of bankruptcy are to the estate of the bankrupt.



Branch 3 exclusion from the bankruptcy Article. 70. [Exclusion of property that does not belong to the estate of the bankrupt, with insolvency] assets not belonging to the estate of the bankrupt shall be excluded from the estate.

Article. 701. [Exceptions in the application of the rules to exclude from bankruptcy] Provisions to exclude from bankruptcy does not apply to things, receivables and other property rights transferred by the debtor to the creditor in order to secure the claim. To these items and secured in this way, the claims shall apply mutatis mutandis the provisions of the law on pledge and debt secured by a lien.

Article. 71. [the claim for consideration for the property excluded from the bankruptcy] 1. In case of disposal by the bankrupt property which is subject to the disabled, the service received for property disposed of seems to be to the person whose property it should have been, if the benefit is extracted by weight.

2. in the event of the disposal by the trustee or administrator of the property, which was subject to exemption, the person to whom this right belonged, may request the release of consideration received in Exchange for the property.

3. where the provision referred to in paragraph 1. 1 and 2, before submitting a request has not been met, the right to provide passes to the disabled who is entitled to the property.


Article. 72. [reimbursement of incurred expenses] the person to whom the property should be subject to the exemption may request its issue or consideration for the simultaneous return of expenditure on the maintenance of this property or to obtain mutual benefits, incurred by the bankrupt or of the insolvency administrator.

Article. 73. [the proceedings for exemption from the insolvency] 1. In the request for exclusion from the bankruptcy you must report any claims, allegations and evidence of their support on pain of loss of the right to invoke them in the course of further proceedings, I think that calling their proposal was impossible.

2. The judge-Commissioner recognizes the request for exemption of the insolvency administrator within one month from the date of its submission after hearing the trustee, supervisor or Manager.

3. (repealed).

4. (repealed).

5. Order of the referee to exclude from the estate is subject to the notice.

6. Order the exclusion from the bankruptcy requires justification. In order to exclude from the insolvency administrator is entitled to appeal to the bankrupt and creditors.

Article. 74. [a claim for exemption of property of the estate] 1. In the event of the dismissal of an application for exclusion from the bankruptcy petitioner in an action request exclusion of property from the estate.

2. The action shall be brought to the bankruptcy court within one month from the date of service of the order by the bankruptcy judge to refuse exemption from the estate.

3. An action may be based solely on the claims and pleas in law raised in the application for exemption from the estate. Other allegations and complaints can be reported only if the plaintiff demonstrates that their earlier reporting was impossible. Regardless of the outcome of the case, the Court will charge the plaintiff to pay the costs of the process, if he called new evidence relevant to the adjudication of the matter, which are not reported in the application for exemption.

4. The Court may secure an action by banning the disposal or charging of property covered by the request for exclusion from the bankruptcy.



A branch of the 4 Steps of the fallen on property belonging to the bankrupt Art. 75. [loss of rights management, use and dispose of property included in bankruptcy] 1. If it was announced bankruptcy involving liquidation of the assets of the bankrupt, the bankrupt loses the right of the Management Board and the ability to use and dispose of property included in bankruptcy.

2. The judge-Commissioner determines the scope and time of use by a fallen or people close to him who on the date of bankruptcy resided in an apartment in the unit or in the building included in bankruptcy, with this apartment.

3. in the case of bankruptcy, with the possibility of the conclusion of the agreement, if deprived of the bankrupt law of the Board over the whole or part of the property included in bankruptcy, the provision in paragraph 1. 2 shall apply mutatis mutandis.

Article. 76. [the Board of property forming part of the estate] 1. In bankruptcy proceedings, with the possibility of the conclusion of the Board of property forming part of the estate has fallen under the supervision of the supervisor of the Court, unless the Court has established. The Court shall establish the administrator, if the bankrupt does not give warranties of sound exercise of the Board of Directors.

2. The Court shall quash the Board own fallen and establishes an if: 1) fallen even unintentionally violated the law in the exercise of the Board;

2) the exercise by the Board of Directors does not guarantee the implementation of the agreement.

3. Unless this Act provides otherwise, the debtor in possession shall be entitled to carry out activities of day-to-day administration. To complete the steps above the normal range of the Board of Directors is required the consent of a supervisor of the Court, unless the law provides for the consent of the creditors ' Committee.

Article. 77. [the invalidity of the transaction aside about insolvency] 1. Legal acts of the debtor for property included in bankruptcy, to which the fallen lost the right of the Board, are void.

2. At the request of a third party referee may order a refund on his behalf from the insolvency of its consideration, that this person was in connection with the making of the fallen legal action referred to in paragraph 1. 1. To return this provision shall apply mutatis mutandis the provisions of due provision.

3. return of the provision referred to in paragraph 1. 2, you can order if legal action was taken after the Declaration of bankruptcy and before the notice in the Gazette and the economic provisions of the bankruptcy and a third person while maintaining due diligence could not have known about the bankruptcy. On order of the judge-Commissioner of the person entitled to the complaint.

4. The provisions of paragraph 1. 1 shall not apply to the establishment of a financial security in accordance with the provisions of the law of 2 April 2004 on certain financial security (Journal of laws of 2012.942), if the conclusion of the agreement or the provision of financial collateral was on the Declaration of bankruptcy, and the holder of a security shows that he did not know and while maintaining due diligence could not have known about the opening of insolvency proceedings. The provisions of paragraph 1. 1 shall not apply to the security referred to in article 1. 67. Article. 78. [performance into the hands of the bankrupt after the bankruptcy] performance into the hands of the fallen without the right Board of the bankrupt made after the notice of the Bankruptcy Court and economic monitor does not exempt from complying with the provision in bankruptcy, unless the equivalent of the provision was passed by the bankrupt to the estate.

Article. 79. [Steps subject to disclosure in the land register and the registers] the provisions of art. 77 and 78 shall also apply to acts that are subject to disclosure in the land register and the registers, if specific provisions provide otherwise.

Article. 80. [the bankrupt's obligations arising from orders of settlement] 1. Bankruptcy of the participant payment system or securities settlement system within the meaning of the Act, referred to in article 1. 22 paragraph 1. 1 paragraph 4, regardless of whether it has been granted, with the possibility of the conclusion of, or for the purpose of liquidation of assets, not prevent utilisation possibilities: 1) cash and financial instruments within the meaning of the Act of 29 July 2005 on trading in financial instruments (Journal of laws of 2010 # 211, item 1384, as amended), collected and stored on its settlement account , with no meaningful law on behalf of third parties, 2) financial instruments recorded on the settlement account of the fallen, as a matter of security credit obtained in the framework of the payment system or securities settlement system, if credit can be made available within the framework of an existing credit agreement – in order to implement the obligations of the bankrupt arising from orders entered into the settlement system no later than on the working day system commencing on in which it was declared bankrupt.

2. the working day shall be deemed to be system as specified by the functioning of the payment system or securities settlement system within the meaning of the Act, referred to in article 1. 22 paragraph 1. 1 paragraph 4, order execution cycle, during which the settlement is made or accounts payable and other related operations; This day can start and end on consecutive calendar days.



Branch 5 prohibition of charging in bankruptcy Article. 81. [prohibition of tying up the insolvency law limited meaningful] 1. After the Declaration of bankruptcy cannot be imputed to the components of the bankrupt mortgage, Lien, liquidations, tax lien or mortgage in order to secure claims arising before filing for bankruptcy.

2. The provisions of paragraph 1. 1 shall not apply if the application for entry of a mortgage has been filed in court at least six months before the date of submission of the application for a declaration of bankruptcy.

Article. 82. [Deletion from the Office of entry of the load] Entry in the land register or the register made in violation of article 86. 81 is subject to removal from Office. The basis for deletion is the order of the referee declaring inadmissible the entry. The referee shall have the complaint.



Chapter 2 the effects of bankruptcy to the bankrupt's obligations section 1 General provisions Article. 83. [nullity of contractual clauses to be concluded in the event of bankruptcy] Void are the provisions of the agreement reserving in the event of bankruptcy or termination of legal, which is bankrupt.

Article. 84. [ineffectiveness of the provisions of the agreement that hinder or prevent the achievement of the purpose of insolvency proceedings] 1. Provision of this agreement, which is bankrupt, that prevent or hinder the achievement of the purpose of insolvency proceedings is ineffective in relation to insolvency.

2. the agreement transferring ownership of the things, of claims or other rights contained in order to secure claims is effective against insolvency, if it is concluded in writing with the date.

3. the agreement establishing financial security on the basis of the law of 2 April 2004 on certain financial security for its effectiveness to the insolvency does not require the written form to the date certain.


Article. 85. [effect of termination of the framework contract] 1. If the framework agreement, where one party is bankrupt, stipulates that the individual contract details, which are timely financial operations, lending or selling of financial instruments financial instruments with a commitment to repurchase them, will be made in the implementation of the framework agreement and that the framework agreement resolves all specific contracts contained in the execution of this agreement: 1) claims in respect of individual specific contracts contained in its execution are not included in the agreement;

2) the trustee not entitled to withdraw from the framework agreement referred to in article 2. 98.2. By timely financial operations referred to in paragraph 1. 1 shall mean operations in which sets the price, exchange rate, interest rate or index – and, in particular, the acquisition of securities, currencies, gold or other precious metals, goods or rights in this agreement calculated only on the difference in prices, options, and derivatives law-that to arrive at the date or appointment, marketed.

2A. The financial instruments referred to in paragraph 1. 1, it is understood financial instruments within the meaning of the provisions of the Act of 29 July 2005 on trading in financial instruments.

3. Either party may terminate the agreement referred to in paragraph 1. 1, subject to the established in the agreement on how to settle the parties in the event of termination of the agreement.

4. It is permissible to set-off the debt arising from the settlement of the parties.

5. individual contracts specific to the subject of timely financial operations, lending or selling of financial instruments financial instruments with a commitment to repurchase them-even if they have not been included in the implementation of the framework agreement referred to in paragraph 1. 1-do not apply the provisions of article 4. 98 and article. 99. Article. 85A. [violations of rights under the compensatory clause] bankruptcy the debtor shall not affect the rights set out in the agreement, the compensation clause, referred to in the Act referred to in the article. 77 paragraph 1. 4. Article. 86. [the bankruptcy of cooperative housing] 1. After the bankruptcy of cooperative housing covering the liquidation of the assets of the bankrupt or with the possibility of the conclusion of the agreement, when the Board received the estate of the bankrupt, the activities referred to in article 1. 41 to 43 of the Act of 15 December 2000 on the housing cooperatives (Journal of laws of 2003 No. 119, item 1116, as amended) performs the trustee or the trustee.

2. on the syndyku or of the insolvency administrator to the conclusion of the agreement referred to in article 1. 111 [2], 12, 1714, 1715, 39 and 48 of the Act referred to in paragraph 1. 1, if the request was made of the cooperative before filing for bankruptcy or after bankruptcy pursuant to art. 541 paragraph 3. 2 of this Act.



Section 2 Effects of bankruptcy to the bankrupt's obligations in the event of bankruptcy, with the possibility of the conclusion of the Article. 87. [prohibition of provision covered by the layout] from the date of bankruptcy, with the possibility of the conclusion of the to the day when the provisions on approval of the layout, or to discontinue the proceedings, the debtor or the liquidator may not meet the benefits arising from the claims, which, by law, are covered by the agreement.

Article. 88. (repealed).

Article. 89. [admissibility of withholding claims] 1. For the duration of the proceedings until its redemption or termination or changes in the provisions of the Declaration of insolvency with the possibility of the conclusion of the bankruptcy involving liquidation of the assets of the bankrupt, offsetting counterclaims between the fallen and the creditor is not permissible, if the creditor: 1) became a debtor bankrupt after bankruptcy;

2) as the debtor in bankruptcy, has become after the bankruptcy of his creditor by the acquisition of claims by way of transfer or endorser of action arising before filing for bankruptcy.

2. Offsetting counterclaims is allowed, however, if the acquisition of the claim occurred as a result of the payment of the debt, for which the buyer was responsible person or some object property, and if the liability of the buyer for the debt was established prior to the date of submission of the application for a declaration of bankruptcy.

3. A creditor who wants to take advantage of deductions, consists of about including a statement not later than on the filing of claims.

Article. 90. [Prohibition of speaking to the bankrupt of the rental agreement or lease the premises] 1. For the duration of the proceedings until the redemption or the conclusion of, or change the way insolvency proceedings from proceeding with the possibility of the conclusion of the proceedings involving the liquidation of the assets of the bankrupt, the lessor or lessons, without the consent of the creditors, not may terminate the rental agreement or lease the premises or property in which it is carried out the company bankrupt. The system can establish a prohibition on termination of these agreements until the implementation of the agreement.

2. the provision of paragraph 1. 1 shall apply mutatis mutandis to lease agreements, property insurance, bank account agreements, contracts, sureties and bank guarantees and letters of credit, as well as contracts covering licenses granted to the bankrupt.



Division 3 the effects of bankruptcy to the bankrupt's obligations in the event of a bankruptcy involving liquidation of the assets of the bankrupt Art. 91. [chargeability of benefits in cash] 1. Monetary liabilities in bankruptcy, where the term of benefit payments have not yet occurred, become due as from the date of bankruptcy.

2. non-monetary financial Obligations vary from the date of bankruptcy for commitment and with that date become payable, even if the deadline for their implementation have not yet occurred.

Article. 92. [to satisfy the interest of the estate] 1. Of the insolvency administrator can be satisfied the interest on the debt owed by the bankrupt, the period to the date of bankruptcy.

2. the provision of paragraph 1. 1 does not apply to interest on debts secured by mortgage, an entry in the registry, a lien, a lien registration, tax lien or mortgage. This interest can be satisfied only with collateral.

Article. 93. [set-off of claims in bankruptcy] 1. Set-off of claims in bankruptcy with a debt of the creditor is permitted if both claims existed on bankruptcy, at least in terms of the maturity of one of them has not yet occurred.

2. To set-off shall be the total sum of debts in bankruptcy, and the claim of the creditor only in debt principal, together with interest accrued to the date of bankruptcy.

3. If the payment term non-interest-bearing debt fallen on bankruptcy there, to set-off shall be the sum of the charges reduced by statutory interest, not higher than six percent, the time from the date of the Declaration of bankruptcy until payment and no more than over a period of two years.

Article. 94. [prohibition of set-off of claims] 1. Deduction is not admissible if the debtor bankrupt acquired the claim by way of transfer or endorser after the Declaration of bankruptcy or acquired it last year before bankruptcy, knowing of the existence of the grounds for declaration of bankruptcy.

2. the Deduction is allowable, if the buyer has become a creditor of bankrupt due to pay off his debt, for which he was responsible person or specific property items, and if the purchaser at the time when it accepted the responsibility for the debt in bankruptcy, did not know of the existence of the grounds for declaration of bankruptcy. Set-off is always acceptable, if the assumption was one year before the date of bankruptcy.

Article. 95. [Inadmissible deductions] Deduction is not allowable, if the creditor has become indebted to the debtor after the date of bankruptcy.

Article. 96. [the creditor's Statement of its intention to set-off claims of] a creditor who wishes to exercise the right of set-off, consists of about including a statement not later than on the filing of claims.

Article. 97. [claims from the contract as a result of the acceptance of the offer] a claim arising from the contract concluded as a result of the acceptance of the offer made by the bankrupt may be asserted by the claimant in bankruptcy proceedings only if the statement of acceptance was made bankrupt before the Declaration of bankruptcy.

Article. 98. [execution of bilateral contracts] 1. If at the date of bankruptcy obligations of mutual agreement has not been made in whole or in part, the bankruptcy trustee may perform the obligation of the fallen and to request from the other party fulfil the consideration or withdraw from the contract.

2. at the request of the other party filed in writing with the date certain, the insolvency administrator within three months declares in writing, whether the agreement is disclaimed or requests its implementation. Failure to submit a claim within this period by the trustee shall be deemed to be a withdrawal from the contract.

3. the second page, which is required to fulfill service before, may withhold the fulfilment of the provision pending the fulfillment or security consideration. This right to the other party shall not be entitled, if at the time of the conclusion of the agreement knew or should know of the existence of the grounds for declaration of bankruptcy.


Article. 99. [Termination by the trustee from the mutual agreement] if the trustee withdraws from the contract, the other party is not entitled to a refund of the true benefits, at least in terms of this benefit was in mass bankruptcy. A party may assert claims in the insolvency proceedings in respect of performance of the obligation and the damage suffered by reporting these claims the judge-Commissioner.

Article. 100. [Return things sent to the bankrupt without receiving a price] 1. The seller may demand the return of movable securities also sent the fallen without receipt of the price, if the item was not included before filing for bankruptcy by the debtor or by a person authorized by him to dispose of the goods. The right to return is also komisantowi that sent to the bankrupt.

2. the seller or Commission agent, which thing has been returned, it returns the costs that have been incurred or to be incurred, and the advance payments received.

3. The administrator may, however, to stop, if the pay or indemnify due from fallen price and costs. This right shall be entitled to the official receiver within one month from the date of the request for reimbursement.

Article. 101. [the effectiveness of the agreement transferring ownership of the things] 1. Reserved in the contract of sale in favour of the seller the right to property does not expire due to bankruptcy of the buyer, if it is effective against its creditors according to the provisions of the civil code.

2. (repealed).

Article. 102. [termination of or withdrawal from the contract order or consignment] 1. Contained by the bankrupt contract or consignment, where the bankrupt was giving an order or komitentem, as well as the management agreement securities of fallen expire on bankruptcy. Claim for loss as a result suffered may hotelier in insolvency proceedings.

2. From the fallen agreements order or consignment, where the bankrupt was the host order or komisantem, may be waived as from the date of bankruptcy without compensation.

Article. 103. [termination of agency contract] 1. Agency Agreement shall expire on the date of bankruptcy of one of the parties.

2. In the event of bankruptcy of the principal agent has the right to claim in the insolvency proceedings of its arising in respect of a loss suffered as a result of expiry of the agreement.

Article. 104. [termination or expiry of the contract lending] 1. In the event of bankruptcy or użyczającego which to use, contract lending, if an item has already been released, is terminated at the request of one of the parties.

2. If an item has not yet been released, the agreement expires.

Article. 105. [termination of the loan] in the event of bankruptcy of one of the parties to the loan agreement, the loan agreement expires when the loan item has not yet been released.

Article. 106. [obligation to the tenant pay the rent to the estate] Download from above by the bankrupt before the announcement of the bankruptcy of the rent movable for longer than six months from the date of bankruptcy, does not release the lessee from the obligation to pay the rent to the estate.

Article. 107. [the effectiveness of a rental agreement or lease] 1. The lease or rental of real estate fallen binds the parties, if the subject matter of the contract before the bankruptcy was released of the tenant or the tenant.

2. Download from above by the bankrupt before the announcement of the bankruptcy of the rent for longer than three months, and the rent for longer than six months in both cases from the date of bankruptcy, as well as the disposal of this rent, does not relieve the tenant or lessee from the obligation to pay the rent to the estate.

Article. 108. [effects of the sale by the trustee real estate fallen] sale by the trustee in the course of insolvency proceedings the property fallen calls the same effects in relation to the rental agreement or lease, as the sale in execution proceedings.

Article. 109. [termination of the rental agreement or lease] 1. On the basis of the provisions of the official receiver the receiver terminates the rental agreement or lease real estate in bankruptcy while maintaining the three-month notice period, even if the termination of this agreement by the bankrupt was not acceptable. The judge-Commissioner may issue an order, if the duration of the agreement makes liquidation bankruptcy or when the rent or lease differs from the average rents for the leasing or letting of immovable property of the same kind. The referee shall have the complaint.

2. The other party dissolved the contract may claim compensation in bankruptcy proceedings because of the termination of the contract, lease or lease before the date provided for in the agreement, these claims the judge-Commissioner.

Article. 110. [waiver of the rental agreement or lease] 1. If at the date of bankruptcy subject of the lease or the lease had not yet been released to the bankrupt, any party may withdraw from the contract or tenancies of immovable property concluded by the bankrupt as the tenant or lessee. The statement of withdrawal should be submitted within two months from the date of bankruptcy.

2. Withdrawal from the contract does not entail the obligation to compensation.

3. If the subject of the lease or the lease on the Declaration of bankruptcy has been released to the bankrupt, the trustee may terminate the rental agreement or lease, even if the termination of this agreement by the bankrupt was not acceptable. If the contract concerns immovable property, which conducted the company in bankruptcy, termination is by giving six months ' notice, in others cases – with the behavior of the statutory deadline, unless the terms of notice provided for in the agreement are shorter.

4. Termination of the agreement shall not take place before the expiry of the period for which the rent is paid in advance. On the basis of the provisions of the official receiver the receiver terminates the rental agreement or lease before the deadline, if the further duration of the agreement would obstruct the conduct of insolvency proceedings, in particular when it leads to an increase in the costs of the bankruptcy. The referee shall have the complaint.

5. The landlord or lessons can claim in bankruptcy proceedings for compensation due to resolve lease or lease before the date provided for in the agreement, but for no longer than two years.

Article. 111. [termination of the credit agreement] 1. From the date of bankruptcy credit agreement expires, if before that date, the lender did not supply funds at the disposal of the bankrupt. The lender may sue for compensation in bankruptcy proceedings by reporting these claims the judge-Commissioner.

2. in the event of putting at the disposal of the bankrupt before bankruptcy part cash, bankrupt loses the right to claim payment of part of the nieprzekazanej.

Article. 112. [Bankruptcy and bank account, securities account and account summary fallen] bankruptcy has no effect on the contract of bank account, securities account contract or contract for bulk account management.

Article. 113. [Expiration of certain agreements hold] 1. From the date of bankruptcy terminates the agreement for PO box deposit and storage contract concluded by the bankrupt Bank. The issue made in the glove box of objects or securities takes place within a period agreed with the receiver, but not later than within three months from the date of the bankruptcy.

2. For the period of use of the lockbox and other forms of storage after the announcement of the bankruptcy of the bank charges at the rates of the existing pages in the last month before the Declaration of bankruptcy.

3. claims of the Bank referred to in paragraph 1. 2, can be asserted in bankruptcy proceedings, according to the rules set out to recover the costs of the proceedings.

Article. 114. [Termination of the leasing contract] 1. In the event of bankruptcy that uses things based on the leasing agreement the trustee may, within two months from the date of bankruptcy, with the consent of the judge-Commissioner, terminate the lease with immediate effect.

2. in the event of bankruptcy financing leasing provisions of the Act of withdrawal from the contract by the insolvency practitioner shall not apply.

Article. 115. [the effectiveness of the insurance agreement property] 1. Bankruptcy of the insured has no effect on the contract of compulsory insurance.

2. property insurance contracts entered into by the debtor before bankruptcy shall apply mutatis mutandis the provisions of article 4. 98 and 99.

Article. 116. [spouse Claims arising out of the marriage contract] Claim the bankrupt spouse resulting from the marriage contract may be considered only if it was contained at least two years prior to the date of submission of the application for a declaration of bankruptcy.

Article. 117. [legal consequences of bankruptcy] whenever the conduct of insolvency proceedings the proceedings involving the liquidation of the assets of the bankrupt on dealing with the possibility of the conclusion of the agreement, the legal effects of the Declaration of bankruptcy and actions referred to in this branch shall remain in force. With the agreement of the parties can, however, be repealed.


Article. 118. [change the way insolvency proceedings] in the event of a change in the conduct of the insolvency proceedings, with the possibility of the conclusion of the proceedings involving the liquidation of the assets of the bankrupt, the effects of the bankruptcy listed in the provisions of this section arise on the date of adoption of the order of the change how to conduct the proceedings.



Chapter 3 Effects of bankruptcy to inheritances acquired by the bankrupt Art. 119. [the inclusion of decline to insolvency] 1. If the drop in the open after the bankruptcy is called the fallen, fall into bankruptcy. The bankruptcy trustee, judicial trustee or overseer make declaration of acceptance of the decline and fall is considered to have been adopted with the boon.

2. where the opening of the drop occurred before filing for bankruptcy, and until its notification term has not yet expired to submit a letter of acceptance or rejection of the inheritance and appointed heir to such claims not submitted, paragraph 1. 1 shall apply mutatis mutandis.

3. the provisions of paragraphs 1 and 2. 1 and 2 shall apply mutatis mutandis in the event of the establishment of the records for the fallen.

Article. 120. [the invalidity of the contract of disposal of inheritance or inheritance share] agreement to dispose of all or part of the inheritance or the whole or part of the share of succession concluded by the bankrupt after the bankruptcy is void. Void is also made by the action of rozporządzająca involving the belonging to the estate, and its consent to regulation involving the belonging to drop by another heir.

Article. 121. [Disable inheritance of the estate] 1. If the drop consists of claims and rights of doubtful as to the existence or possibility of their performance, you can disable the drop from the estate.

2. Decrease be excluded, if the property included in the decline are difficult to transferable or for other reasons, the entrance to drop the insolvency would not be beneficial to the insolvency proceedings.

3. Provision to exclude the decline of insolvency, it seems from the Office of the judge-Commissioner. This provision is subject to the notice. On order are entitled to appeal to the bankrupt and the creditors.

Article. 122. [Declaration of acceptance or rejection of the decline of the estate] if the drop will be excluded from the bankruptcy, the Declaration of acceptance or rejection of the drop consists of the heir. The deadline to make a declaration begins to run from the time when the provisions of the exemption.

Article. 123. [Ineffectiveness claim to reject the drop] statement of the debtor to reject or write vindication is ineffective in relation to insolvency, if made after the Declaration of bankruptcy.



Chapter 4 the impact of the bankruptcy on property relationships marriage fallen Art. 124. [effects of bankruptcy for marriage commonality property] 1. On the day of the Declaration of bankruptcy of one of the spouses is formed between the spouses, separation of property referred to in article 1. 53 section 1 of the Act of 25 February 1964-family code and caring (OJ of 2012.788). If the spouses were in the regime of commonality, a common property of spouses shall enter into bankruptcy, and its distribution is inadmissible.

2. (repealed).

3. the spouse of the debtor can claim in bankruptcy claims arising from the participation in the assets of the joint, by submitting this claim to the judge-Commissioner.

4. It shall be presumed that corporate assets were created during the period of establishment by the bankrupt was acquired with funds from the income of the company.

5. the insolvency are not items for only the spouse of a fallen to do business or professional activity, even if they were covered by the material wspólnością marriage, with the exception of property acquired for the common property within two years prior to the date of submission of the application for a declaration of bankruptcy.

Article. 125. [Declared the establishment of the separation of property] 1. The establishment of the separation of property on the basis of the decision of the Court in the course of the year prior to the date of submission of the application for a declaration of bankruptcy is ineffective in relation to insolvency, unless a petition for the establishment of a separation of property has been made for at least two years prior to the date of submission of the application for a declaration of bankruptcy.

2. After the Declaration of bankruptcy unable to establish the separation of property with a date earlier than the date of bankruptcy.

3. the provision of paragraph 1. 1 shall apply mutatis mutandis when the separation of property was established by law in the course of the year prior to the date of submission of the application for a declaration of bankruptcy as a result of divorce, separation or incapacity of one of the spouses, unless the petition or proposal is submitted at least two years prior to the date of submission of the application for a declaration of bankruptcy.

Article. 126. [the effectiveness of the establishment of the separation of property] 1. The establishment of a material separation agreement which is effective in relation to the bankrupt only when the agreement was at least two years prior to the date of submission of the application for a declaration of bankruptcy.

2. the provision of paragraph 1. 1 shall apply mutatis mutandis when the property agreement limited the commonality of the material.



SECTION III of the Ineffectiveness and lodging appeals against the actions of the fallen Article. 127. [Declared free of regulations of the estate by the bankrupt] 1. Unsuccessful in relation to bankruptcy are legal acts made by the bankrupt during the year prior to the date of submission of the application for a declaration of bankruptcy, which it ordered that his assets, if made free of charge or for a consideration, but the value of the benefits fallen excels in a blatant degree the value of benefits received by the bankrupt or reserved for fallen or for a third party.

2. the provision of paragraph 1. 1 shall apply mutatis mutandis to the court settlement, recognition and waiver of claims.

3. Unsuccessful are also security and payment of debt niewymagalnego, made by the bankrupt within two months before the date of submission of the application for a declaration of bankruptcy. However, the person who has paid or security may, by action or complaint to demand recognition of these actions to be effective, if at the time of their achievements did not know of the existence of the grounds for declaration of bankruptcy.

4. The provisions of paragraphs 2 and 3. 1-3 shall not apply to the securities laid down before the Declaration of bankruptcy in connection with futures financial operations, financial instruments loans or selling of financial instruments with a commitment to repurchase them, referred to in article 1. paragraph 85. 1. Article. 128. [ineffectiveness of paid legal acts with those loved ones or related] 1. Legal action in return for payment made by the debtor within six months before the date of submission of the application for a declaration of bankruptcy with the spouse, relative or kin in the direct line, relative or kin in the side line to the second degree inclusive or of the adopted child or adoptive parent is ineffective in relation to insolvency.

2. the provision of paragraph 1. 1 shall apply mutatis mutandis to the fallen, a company or a legal person, made with its partners, their representatives or their spouses, as well as related companies, their partners, representatives or the spouses of such persons.

3. the provision of paragraph 1. 1 shall also apply to the bankrupt a company, which he has made with another company if one of them was the parent company.

Article. 129. [Ineffectiveness over remuneration for work representative of the fallen] 1. If the remuneration for his work representing the fallen, specified in the contract of employment or service agreement concluded before filing for bankruptcy, is grossly higher than the average salary for this kind of work or services and is not a legitimate effort, the judge-Commissioner ex officio or at the request of the trustee, supervisor or administrator deems that a particular part of the salaries, per for the period before the Declaration of bankruptcy, for no more than six months before the date of submission of the application for a declaration of bankruptcy , is ineffective in relation to insolvency, at least in terms of compensation has already been paid. The judge-Commissioner may be considered ineffective in whole or in part, in relation to the remuneration of the insolvency representative the bankrupt, payable for the time after the Declaration of bankruptcy, if due to the inclusion of the Board by the administrator or receiver is not justified effort.

2. In the case referred to in paragraph 1. 1, the judge-Commissioner specifies, subject to the satisfaction of the insolvency administrator salary corresponding to the work done by the representative of the bankrupt. The judge-Commissioner issues a decision after hearing the trustee, supervisor or Manager and representative of the bankrupt.

3. the provision of paragraph 1. 1 and 2 shall apply mutatis mutandis to benefits in connection with the termination of employment or contract for services related to the management of the company, except that the height restriction of these benefits is to the amount specified by the rules universally applicable.

4. The referee shall have the complaint.


Article. 130. [ineffectiveness of load property of the fallen] 1. The judge-Commissioner at the request of the trustee, supervisor or administrator deems ineffective in relation to the insolvency estate load fallen mortgage, Lien, liquidations or mortgage, if fallen was not indebted to the personal of the secured creditor, and the burden has been laid down during the year prior to the date of submission of the application for a declaration of bankruptcy, and in connection with its establishment of the fallen has not received any benefits.

2. the provision of paragraph 1. 1 shall apply mutatis mutandis, if the load property laid down in Exchange for the service, which is disproportionately low to the value of the provided security.

3. Regardless of the amount of the benefit received by the bankruptcy judge-Commissioner deems ineffective load referred to in paragraph 1. 1 and 2, if the load securing long people, referred to in article 1. 128.4. The referee shall have the complaint.

Article. 131. [appeals against administrative actions made detrimental to creditors] in the case of matters not regulated by the provisions of article 4. 127-130 to challenge legal acts the bankrupt made detrimental to creditors, shall apply mutatis mutandis the provisions of article 4. 132-134 and the provisions of the civil code on the protection of the creditor in the event of the insolvency of the debtor.

Article. 132. [legal proceedings for recognition by ineffective] 1. The action may bring the insolvency administrator, judicial supervisor or Manager.

2. The trustee, judicial trustee or supervisor not be court fees.

3. You cannot request recognition by ineffective after the expiry of two years from the date of bankruptcy unless under the provisions of the civil code this permission has expired earlier. This time limit does not apply when the request recognition by ineffective reported was on the way.

Article. 133. [entry to legal proceedings in place of the fallen] 1. The bankruptcy trustee, judicial trustee or overseer can enter the place of the plaintiff in the case initiated by the creditor, who has appealed against a transaction aside. In this case, if the defendant was also fallen, dealing for it redeems after extending the provisions of the Declaration of bankruptcy.

2. With the recovered parts of the assets of the trustee, judicial trustee or overseer of the returns process costs sustained by the creditor.

3. in the event of redemption of the insolvency proceedings or bankruptcy proceedings be repealed before the end of the case referred to in paragraph 1. 1, the Court shall inform the ongoing process of the creditor, who may within two weeks to join the case as a plaintiff. Created, who reported their accession to the case, may not require a repetition of the previous procedure.

4. A creditor who has before filing for bankruptcy any provision under the judgment declaring the Act of a fallen for your offer, there is no obligation to issue allowance weight.

Article. 134. [Supplement the insolvency] 1. If the action of the fallen is ineffective under the law or has been declared ineffective, what as a result of this, disappeared from the estate of the bankrupt or not entered into, shall be subject to the transfer to the insolvency, and when the transfer in kind is impossible, bankruptcy should be paid the equivalent in money.

2. In the cases referred to in paragraph 1. 1, the consideration of a third party asks that person, if it is in the mass bankruptcy of separately from other assets or how much weight is it enriched. If the service is not refundable, the third party may assert claims in insolvency proceedings.

Article. 135. [exclusion of application of the rules for challenging a transaction aside] Provisions for appeals against administrative acts or specifying the ineffectiveness of legal acts by the bankrupt does not apply to compensation made in accordance with article 5. 136 or article. 137 and its results.



SECTION IV the effect of bankruptcy on the order of settlement in payment and securities settlement systems Article. 136. [to be bound by the effects of the settlement order and compensation results] in the event of bankruptcy of the participant payment system or securities settlement system, referred to in article 2. 22 paragraph 1. 1 paragraph 4, the legal effects of the order settlement resulting from his introduction to the system and the results of the netting are enforceable and binding on third parties, if it has been entered into the system before filing for bankruptcy.

Article. 137. [limitation of his/her capacity of the effects of settlement order] If the order of settlement, as referred to in article. 136, was introduced to the system after the bankruptcy and is made on the working of the system within the meaning of article 3. 80 (2). 2, beginning on the day on which it was declared bankrupt, the legal consequences arising from its introduction to the system are enforceable and binding on third parties only if the operator proves that the system at the time, in which, in accordance with the principles of the functioning of this system it has become irrevocable, did not know or could not know about the bankruptcy.



Section V of the impact of the bankruptcy on legal proceedings and administrative provisions Chapter 1 the impact of bankruptcy on the other proceedings in the event of bankruptcy, with the possibility of the conclusion of the Article. 1371 [Initiation by creditor lawsuits and administrative claims subject to notification to the insolvency administrator] bankruptcy with the possibility of the conclusion of the does not exclude the possibility of initiation by the creditor lawsuits and administrative claims subject to the Declaration of bankruptcy. The costs of the proceedings shall be borne by the document which instituted the proceedings, if there were no obstacles to put claims in its entirety on the list.

Article. 138. [Join legal supervisor for judicial or administrative proceedings] 1. If the Management Board has been established its own fallen, overseer of the Court enters by law to judicial and administrative proceedings relating to insolvency carried out for or against the bankrupt.

2. In civil matters the judicial overseer has permission to the intervener, the by-product, which shall apply mutatis mutandis the rules of participation of the single.

3. In the cases referred to in paragraph 1. 1, the recognition of claims, waiver of claims, settlement or the granting of the circumstances relevant to the case by the bankrupt, without the consent of the supervisor, has no legal effect.

Article. 139. [bringing a case to court and proceedings by the Administrator] 1. If the fallen was deprived of the right of the Board mass bankruptcy, litigation and administrative provisions concerning the insolvency can be initiated and carried out only by the administrator. These proceedings the liquidator carries on to the fallen, but in his own name.

2. The provisions of paragraph 1. 1 shall not apply to proceedings in the matters of due from the bankrupt maintenance and compensation and pension liability for personal injury or incapacitating or loss of breadwinner and for the conversion of the powers covered by the content of the right to life imprisonment on a lifetime pension.

Article. 140. [Compulsory stay of proceedings and enforcement] 1. The enforcement proceedings for claims falling under the agreement, initiated before filing for bankruptcy, is suspended by operation of law on the Declaration of bankruptcy. The sum received in the suspended proceedings, and yet unreleased, is poured into the estate after coming out of bankruptcy.

2. After the bankruptcy is unacceptable execution issued before the Declaration of bankruptcy of the debtor of the freezing order claim arise out of claims covered by the law.

3. The judge-Commissioner at the request of the bankrupt or the trustee may waive the address made before filing for bankruptcy in enforcement proceedings or security for claims falling under the law system, if this is necessary for the further conduct of the company.

Article. 141. [Optional suspension of enforcement proceedings] 1. The judge-Commissioner at the request of the bankrupt or the trustee may suspend for a period of up to three months enforcement proceedings as for claims not covered by law system, if the execution was sent to the things necessary to conduct business. Release of the seized item from the activities may take place in accordance with the provisions of the law of 17 November 1964 – code of civil procedure.

2. The provisions of paragraph 1. 1 shall not apply to the enforcement of maintenance payments and pensions in respect of liability for personal injury or loss of breadwinner or incapacitating and for the conversion of the powers covered by the content of the right to life imprisonment on a lifetime pension.

Article. 142. [waiver of Arbitration] write the arbitration agreement made by the bankrupt is repealed with effect from the Declaration of bankruptcy, and the ongoing already conduct are remitted.


Article. 143. [Delegation in the event of a change in how the conduct of insolvency proceedings] in the event of a change in the conduct of the insolvency proceedings, with the possibility of the conclusion of the proceedings involving the liquidation of the assets of the debtor, the provisions of Chapter 2 of this chapter shall apply when the provisions of Decree to change the conduct of the proceedings.



Chapter 2 the impact of bankruptcy on the other proceedings in the event of a bankruptcy involving liquidation of the assets of the bankrupt Art. 144. [process Id receiver] 1. If it was announced bankruptcy involving liquidation of the assets of the bankrupt, court proceedings and administrative provisions concerning the insolvency can be initiated and further carried out only by the administrator or against him.

2. The procedure referred to in paragraph 1. 1, the insolvency administrator leads to bankruptcy, but in his own name.

3. The provisions of paragraphs 2 and 3. 1 and 2 shall not apply to proceedings in cases of bankruptcy due on alimony and annuities in respect of liability for personal injury or incapacitating or loss of breadwinner and for the conversion of the powers covered by the content of the right to life imprisonment on a lifetime pension.

Article. 145. [to take proceedings against the trustee] 1. Judicial or administrative proceedings on proceedings brought against the debtor before bankruptcy about a claim that is subject to the Declaration of bankruptcy, unless a separate Act provides otherwise, may be taken against the assignee only if the bankruptcy claim this after running out of the mode specified by law will not be included in the list of claims.

2. (repealed).

Article. 146. [suspension and cancellation of enforcement proceedings] 1. The enforcement proceedings relating to claims subject to the Declaration of bankruptcy, initiated before filing for bankruptcy, is suspended by operation of law on the Declaration of bankruptcy. This procedure shall discontinue the law after coming out of bankruptcy. The suspension of the enforcement procedure does not preclude the awarding of title to real property, if the confirmation has been granted before filing for bankruptcy, and the buyer will pay the enforcement order within the purchase price.

2. The sum obtained in suspended enforcement proceedings, and yet unreleased, is poured into the estate after coming out of bankruptcy.

3. After the bankruptcy is unacceptable execution, issued before the Declaration of bankruptcy of the debtor, the provisions about securing claims arising from claims to be the Declaration of bankruptcy, with the exception of security maintenance claims and claims for disability pension liability for personal injury or incapacitating or loss of breadwinner and replace the powers covered by the content of the right to life imprisonment on a lifetime pension.

4. After the bankruptcy is unacceptable, levy of execution of cash benefits from bankruptcy. Cash benefit awarded against the trustee is subject to the satisfaction of the according to the provisions of the Act.

Article. 147. [waiver of Arbitration] write the arbitration agreement made by the bankrupt is repealed with effect from the Declaration of bankruptcy, and the ongoing already conduct are remitted.

Article. 148. [change the way insolvency proceedings] in the event of a change in the conduct of the proceedings involving the liquidation of the assets of the bankrupt on dealing with the possibility of the conclusion of the effects listed in Chapter 1 of this section arise on the date of adoption of the order of the change how to conduct the proceedings.



Title IV General provisions on insolvency proceedings conducted after the Declaration of bankruptcy and the Court and the judge-Commissioner Section 1 the Court Art. 149. [jurisdiction] 1. After bankruptcy bankruptcy takes place in bankruptcy court, which declared bankruptcy.

2. If the proceedings have been initiated in several courts, the case belongs to the jurisdiction of the Court, which first issued a decision on the Declaration of bankruptcy.

3. If in the course of the proceedings it is found that is a court matter, to this Court. On the order of transfer shall not be entitled to appeal. The order involves the Court to which the case was referred. Steps made in the wrong court shall remain in force.

Article. 150. [composition of the Court] 1. Bankruptcy court rules in the single judge, subject to the provisions of paragraph 2. 2.2. The remuneration and reimbursement of expenses of insolvency administrators, supervisors and managers, and by resolving a complaint against the order of the judge-Commissioner of bankruptcy court rules in the composition of three professional judges.

3. If the Court recognizes a complaint against the order of the referee, in the composition of the Court may not enter the judge-Commissioner.



Chapter 2 the judge-Commissioner Art. 151. [Matter belonging to the properties of the referee] after the bankruptcy acts of insolvency proceedings judge-Commissioner, with the exception of actions for which the competent court.

Article. 152. [the activities carried out by the judge-Commissioner] 1. The judge-Commissioner directs the course of the proceedings, supervises the activities of insolvency administrators, supervisors and managers, means the activities that the trustee, supervisor or administrator is not allowed to perform without his authorization, or without the consent of the creditors, as well as notes on committed by them.

2. The judge-Commissioner fully in addition, other actions specified in the Act.

Article. 153. [complaint Resolution on steps the bailiff] complaints about the actions of the bailiff in the insolvency proceedings the judge-Commissioner.

Article. 154. [rights and duties of the judge-Commissioner] the judge-Commissioner within the scope of their activities has the rights and duties of the Court and the President.

Article. 155. [the provision of assistance by the Administration and banks] 1. Public authorities shall provide assistance to the judge-Commissioner in the performance of its activities.

2. After the Declaration of bankruptcy in the Gazette and the economic, banks, in which the bankrupt has bank accounts, safety deposit boxes, or boxes, are obliged to inform the judge-Commissioner.



SECTION II of the insolvency administrator, supervisor, Manager and their alternates Chapter 1 General provisions Article. 156. [appointment of trustee, legal supervisor and managers] 1. The trustee relies in the event of a bankruptcy involving liquidation of the assets of the bankrupt.

2. Judicial administrator shall be appointed in the event of bankruptcy, with the possibility of the conclusion of the agreement.

3. The administrator shall be appointed in the event of bankruptcy, with the possibility of the conclusion of the agreement, when the Board received the estate of the bankrupt. The administrator establishes, when established on the part of the assets of the Board of its own. In matters covered by this Board, the administrator fully steps reserved for supervisors.

4. The person appointed to act as trustee, supervisor or administrator is subject to compulsory insurance of civil liability for damage caused in the performance of activities in person or by proxy.

5. the competent Minister in charge of financial institutions in consultation with the Minister of Justice, after consultation with the Polish Chamber of Insurance, shall determine, by regulation, the scope of compulsory insurance, referred to in paragraph 1. 4, and the minimum guarantee amount, taking into account the specific nature of the activities and the trustee provided by proceeds value.

Article. 1561. [Publication of the appointment of the trustee, supervisor or administrator] the order of the appointment of a liquidator, the supervisor or manager shall be subject to the notice in the Gazette.

Article. 157. [Licence] 1. [3] Frank, Superintendent of the Court or the Manager may be a natural person with a license administrator.

2. The receiver, the Superintendent of the Court or the Manager may also be a trading company, which the partners responsible for the liabilities of the company without limit all its assets or the members of the Management Board representing the company have such a licence.

3. the rules and issue of, the licences referred to in paragraph 1. 1, specify a separate Act.

4. The trustee, supervisor, administrator who is a natural person is a leading non-agricultural activities within the meaning of the social security system and the health care benefits financed from public funds.

Article. 157a. [Exclusion from Office of the administrator, supervisors and managers] 1. The receiver, the Superintendent of the Court or the Manager may not be a person who: 1) is the creditor or the debtor bankrupt, spouse, descendants, siblings, kin of the fallen or the creditor in the same line or degree, remaining with him in respect of the adoption, or the spouse of that person or the person remaining of the fallen in the actual relationship, residing with him and gospodarującą;

2) is or was employed by the bankrupt on the basis of an employment relationship or other legal relationship, with the exception of the contract for acting as supervisor of the Court in reorganization proceedings, or is or was a member of the authority, a partner or shareholder of the fallen.


2. The trustee, judicial trustee or overseer and his spouse, lineal descendant, sibling, the person being with him in respect of the adoption, or the spouse of such a person, as well as a person with it in the actual relationship, with him living and gospodarująca, can not buy things or rights derived from sales made in bankruptcy proceedings, in which exercises or exercised this function.

3. Obstacle referred to in paragraph 1. 1 paragraph 1, even though the termination of marriage or adoption.

Article. 158. [removal and appointment of a liquidator or a supervisor legal if you change the type of bankruptcy] 1. In the event of a change of the bankruptcy with the possibility of the conclusion of the bankruptcy involving liquidation of the assets of the debtor, the Court shall also revoke the supervisor or trustee and appoint a liquidator.

2. in the event of changes to the terms of the bankruptcy involving liquidation of the assets of the bankrupt in the order of Declaration of insolvency with the possibility of the conclusion of the Court of appeal also, the trustee and the appointment of a supervisor or Manager.

Article. 159. [appointment of alternates] 1. At the request of the trustee, supervisor or Manager, or from the Office of the judge-Commissioner may appoint a Deputy Administrator, deputy supervisor or a Deputy Administrator, if this is needed, particularly in the event of actions in another judicial district.

2. The judge-Commissioner determines the scope of the acts of the Deputy Administrator, deputy supervisor or Assistant managers.

3. To alternate trustee, deputy supervisor and the Deputy Administrator shall apply mutatis mutandis the provisions of a licence referred to in article 1. 157 paragraph 1. 1, and remuneration, reimbursement of expenses and liability for damage respectively administrator, supervisors or managers.

Article. 160. [the legal nature of the operations administrator, supervisors and managers] 1. In matters relating to the bankruptcy trustee, trustee and overseer of the Court make steps on behalf of the debtor, but in his own name.

2. The trustee, judicial trustee and overseer is not responsible for the commitments in matters of insolvency.

3. The trustee, judicial trustee and supervisor are responsible for damage caused as a result of incompetence.

Article. 161. [Granting power of Attorney] 1. The bankruptcy trustee, judicial trustee and overseer may grant full powers to carry out legal transactions. You can also grant full powers judicial and administrative process.

2. For damage caused by agents trustee, judicial trustee and overseer of the match as per activity.

Article. 162. [remuneration of insolvency administrators, supervisors and managers] 1. The bankruptcy trustee, judicial trustee and overseer are entitled to remuneration for his activities corresponding to the work done.

2. the total amount of compensation awarded in the proceedings shall not exceed 3% of the proceeds and the proceeds of liquidation of the things and rights-laden subject matter. The amount of remuneration of insolvency administrators, supervisors and managers may not exceed stuczterdziestokrotności of the average monthly salary in the business sector without payments from profit in the fourth quarter of the previous year, as announced by the President of the Central Statistical Office.

2A. If the amount of the remuneration of the trustee, supervisor or Administrator referred to in paragraph 1. 2, is obviously disproportionate to the work done, the Court shall determine the salary per month of not more than the average monthly salary in the business sector without payments from profit in the fourth quarter of the previous year, as announced by the President of the Central Statistical Office. The total amount of compensation awarded may not exceed czterdziestokrotności of the average monthly wage referred to in the first sentence.

3. The trustee, judicial supervisor and managers shall be entitled to reimbursement of expenses necessary, incurred in connection with the performance of the activities, if these expenses have been recognized by the judge-Commissioner.

4. in the event of the death of trustee, supervisor of the Court and the claim for their remuneration and reimbursement of expenses belongs to the inheritance of them.

5. the remuneration referred to in paragraph 1. 2 and 2a, shall be increased to 10% in the case of the implementation of the final plan of allocation within one year of the expiry of the period for the lodging of claims or satisfy in full the claims and receivables category, the second, third and at least half of the fourth category, excluding the period of the conduct of the insolvency proceedings, with the possibility of the conclusion of the agreement.

6. the remuneration of the liquidator, the supervisor and administrator obowiązanych to settle the tax on goods and services, as referred to in paragraph 1. 2, 2a, 5 and art. 163, and the initial amount of the remuneration and the advance on salary increases by the amount of the goods and services tax, as determined in accordance with the applicable rate of tax.

Article. 163. [remuneration] if the trustee or the trustee is established the bankrupt, in justified cases a special effort, you may receive the additional compensation not exceeding 10% of the achieved annual profit.

Article. 164. [Rule of remuneration] 1. Pay and reimbursement of expenses the trustee, supervisor of legal and court managers at their request.

2. the remuneration and reimbursement of expenses in the case referred to in article 1. 162 para. 4, the Court of its own motion.

3. The receiver loses the right to remuneration and reimbursement of expenses, if you do not request them before the expiry of the deadline for bringing charges against the plan of the last Division, and when a reference receiver previously – if not requested them within one week of the date of notification to him of his appeal.

4. judicial Overseer and Manager lose the right to remuneration and reimbursement of expenses, if you do not request them before the expiry of the time limits to lodge objections to the system, and when the appeal court supervisor and managers previously – if not demanded them within one week of the date of service, the terms of reference.

Article. 165. [Fixing the amount of remuneration] 1. The initial amount of the remuneration of insolvency administrators, supervisors and managers determines the Court at the request of the trustee, supervisor or trustee, filed within two months of their appointment and after the opinion of the application by the judge-Commissioner.

2. the Final amount of the remuneration shall be determined after the approval of the Court by the judge-Commissioner final report administrator, supervisors or managers of their activities, taking into account in particular the degree to satisfy creditors, the effort cost other people in connection with the activities of the trustee and the duration of the proceedings.

3. Final salary, the Court may determine, before the approval of the final report of the trustee, supervisor or administrator, if this amount of remuneration can be determined on the basis of an approved report, and from the State of the case show that the range of activities that the trustee, judicial trustee or overseer guilty make is of a type that will not affect the amount of the remuneration.

4. The order of the Court concerning the remuneration of insolvency administrators, supervisors and managers, and a return to bankruptcy expenses and taken advances shall be entitled to appeal. Payment of legally established remuneration after approval of the final report.

Article. 166. [advances for remuneration and reimbursement of expenses] 1. The bankruptcy trustee, judicial trustee and overseer are entitled to advance payments on compensation and reimbursement of expenses.

2. the total amount allocated to the advances on the compensation does not exceed three quarters of the initial remuneration.

Article. 167. [Rule about tax] of the tax on remuneration or expenses rules the judge-Commissioner at the request of the trustee, supervisor or Manager.

Article. 168. [report of the operations and accounts] 1. The bankruptcy trustee, judicial trustee and supervisor shall submit to the judge-Commissioner on the dates designated by him, at least every three months, a report of its activities and accounts with the reasons.

2. The Assistant Administrator, supervisor or Manager, if it is established, the report referred to in paragraph 1. 1, within the time limits set by the administrator, judicial administrator or Manager. The bankruptcy trustee, judicial trustee and overseer is composed of these reports along with his report to the judge-Commissioner.

3. The report recognizes the judge-Commissioner after hearing where necessary and the possibility of insolvency administrators, supervisors, or managers, the fallen and the members of the creditors ' Committee.

4. When you are finished your business bankruptcy trustee, judicial trustee or overseer and their alternates shall report final report covering its activities and accounts.

5. The judge-Commissioner approves the accounts or the appropriate rectification and decides to return to bankruptcy non-approved amount. The referee shall have the complaint.

6. The reports referred to in paragraph 1. 1 and 4, does not apply to accounting rules.

Article. 169. [other reporting obligations] 1. The administrator or receiver performs the reporting obligations, which would be borne by the fallen.


2. The administrator or receiver established the bankrupt cannot operate demanding concessions or authorisations, unless otherwise follows from the Act or decision to grant a concession or authorization.

Article. 169a. [a warning and a fine] referee admonishes trustee, judicial administrator and administrator, and their respective alternates, cases where the performance of their duties. In the case of a failure to neglect the judge-Commissioner shall impose a fine of up to 30 000.

Article. 170. [Reference receiver, supervisor or administrator] 1. The Court shall recall the trustee, judicial administrator or the administrator, if you do not have a duly their duties or because of obstacles cannot perform. Order of the Court of appeal the trustee, supervisor of the Court or the insolvency administrator due to improper duties require justification.

2. The Court shall recall the trustee, judicial administrator or administrator upon request; can reference them also at the request of the creditors ' Committee or a member of the creditors ' Committee.

3. in the event of the death of trustee, supervisor or administrator judge-Commissioner shall appoint another person to the judicial administrator, trustee or administrator.

4. in the event of the withdrawal or suspension of rights under the license trustee by the Minister of Justice, the Court referenced by the trustee, the judicial administrator or Manager.

5. A copy of the final terms of the cancellation of the trustee, supervisor or administrator due to improper duties shall be the Minister of Justice.

Article. 171. [Reference alternates] 1. The judge-Commissioner references an alternate trustee, supervisor or administrator, if you do not perform their duties properly, or when their further participation in the proceedings is not required, or in the event of the withdrawal or suspension of rights under the license trustee by the Minister of Justice.

2. The provisions of article 4. paragraph 170. 2, 3 and 5 shall apply mutatis mutandis.

Article. 172. [complaint against the order of revocation] 1. On order of the Court of appeal the trustee, supervisor or Manager and the order of the judge-Commissioner of the warning or the imposition of a fine on the receiver, the judicial administrator, and the administrator or their deputies and alternates to the judicial supervisor, trustee reference and the administrator shall be entitled to appeal. The Court recognizes the complaint at the hearing. Provision of art. 222 paragraph. 1, second sentence shall not apply.

2. pending the final decision in the appeal court supervisor, trustee and liquidator the Court establishes an interim or provisional administrator, which shall apply mutatis mutandis the provisions of syndyku, supervisors and managers.



Chapter 2 the trustee Article. 173. [Steps the trustee in bankruptcy] the trustee shall include the assets of the bankrupt, manages, protects it from destruction, damage or removal by third parties and shall proceed to its liquidation.

Article. 174. [introduction the receiver in possession of the assets of the bankrupt] 1. If the insolvency administrator encounters obstacles by taking the assets of the bankrupt, trustee in the possession of assets bankrupt shall be a bailiff. The basis of the introduction is the order of the Court of bankruptcy or the order appointing the receiver without the need to give him the enforcement clause.

2. The cost of cover temporarily the Treasury. These costs is from people who interfere in taking assets and, if the inability to download, they are subject to satisfaction of the insolvency administrator. If the actions that impede the placing of assets by the insolvency practitioner takes a few people, the costs of implementation shall be borne by such persons jointly and severally.

3. reimbursement referred to in paragraph 1. 2, ruled the judge-Commissioner. On the order of the referee is entitled to appeal to persons liable to reimbursement.

Article. 175. [Disclosure provisions on the Declaration of bankruptcy in the books and records] the trustee shall take the necessary steps the aim of the disclosure provisions of the bankruptcy in the land register and other books and records, to which is the property of the fallen.

Article. 176. [Operators informed about the Declaration of bankruptcy] 1. The trustee shall notify the bankruptcy of those creditors whose addresses are known based on the books of the fallen, as well as the bailiff the overall properties of the bankrupt.

2. The trustee shall notify the postal facility within the meaning of the Act of 23 November 2012.-postal law (OJ item 1529) bankruptcy. These centres are served by the trustee to the bankrupt mail. The receiver seems to fallen postal items that do not apply to the assets of the estate, or whose detention is not needed due to the message.

3. The trustee shall notify the bankruptcy of banks and financial institutions, with which the fallen has entered into an agreement for access to the lockbox sejfowej or made money or other items.

4. The administrator calls on transport undertakings, forwarding companies and houses, in which there are or may be goods belonging to the bankrupt or shipment to it addressed, provide the trustee parcels or goods and to not perform commands addressed to them by the bankrupt.

Article. 177. [performance of duties related to the protection of workers ' claims in the event of the insolvency of their employer] 1. The administrator shall perform the duties provided for protection of employee claims in the event of the insolvency of their employer.

2. Employee benefits Guaranteed Fund Provided funds not included in bankruptcy and may not be used to meet other than entitled to take them back to the creditors.

Article. 178. [the right to demand information about the assets of the bankrupt] Trustee may request from the authorities of the Government Administration and local authorities the necessary information relating to the assets of the bankrupt.

Article. 179. [Commitment to trustee due diligence] the trustee is obliged to take action with due diligence, in a way that allows optimal use of the assets of the bankrupt in order to satisfy creditors as much as possible, in particular by minimising the costs of the proceedings.



Chapter 3 judicial Overseer Article. 180. [Immediately to take action by the judicial administrator] 1. If the bankruptcy was announced with the possibility of the conclusion of the agreement and established a Board of their own fallen, overseer of the Court should immediately take supervisory activities, and, if necessary, submit an application to the judge-Commissioner to order the bankrupt to draw up financial statements on the day before the bankruptcy.

2. under the supervision the supervisor the Court may at any time to control a transaction aside, and also the company bankrupt. It can also check whether the bankrupt's property, which is not part of the enterprise, is sufficiently protected from destruction.

Article. 181. [duration of duties by the judicial administrator] judicial Supervisor carry out their duties pending a final approval of the agreement or until the end of the proceedings in another way, if a court order stipulates otherwise.



Chapter 4 the Manager Article. 182. [Cover of the Board of Directors of the bankrupt by the trustee] 1. The Manager immediately after the appointment of the Management Board includes bankrupt, protects it from destruction, damage or removal by third parties and draw up an inventory and financial statements on the day preceding the bankruptcy, if not yet in the course of the proceedings have not been drawn up.

2. If the administrator encounters obstacles on taking up his duties of the Board of Directors, the provision in article. 174 shall apply mutatis mutandis.

Article. 183. [rules of the exercise of the Board] 1. The trustee is obliged to exercise the Management Board in accordance with the principles of sound economy.

2. The trustee shall apply the provisions of art. 175-177.

Article. 184. [scope of the acts of the insolvency administrator] 1. The trustee shall make any action of the Board related to the current establishment of the fallen and the behavior in the State without deterioration at the estate.

2. (repealed).



SECTION III the parties Chapter 1 Fallen Art. 185. [Fallen] 1. Fallen is the one to whom the order was issued about the bankruptcy.

2. the bankruptcy does not affect the legal capacity and capacity to act.

3. The transformation of legal persons, and other organizational units without legal personality, which separate the law recognizes the legal capacity, after the Declaration of bankruptcy are permissible only according to the provisions of this Act.

4. The costs associated with the functioning of the bodies of the fallen and the implementation of its organizational permissions sets each time the judge-Commissioner. These costs included the costs of the insolvency proceedings. The referee shall have the complaint.

Article. 186. [taking over the powers of the fallen by the administrator or supervisor] after the announcement of the bankruptcy of any debtor rights related to participation in companies or cooperatives performs the trustee or the trustee.


Article. 187. [curated by fallen] 1. If the bankrupt does not have the capacity to process and does not work for the legal representative, as well as where the bodies of the fallen, which is a legal person or any other organizational unit without legal personality, which separate the law recognizes the legal capacity, it lacks that action, the judge-Commissioner lays down, for the guardian, who works for the bankrupt in insolvency proceedings. If the bankruptcy trustee has been established on the basis of article. 26 paragraph. 1 of the Act of 20 August 1997 on the national court register, the curator of this refers to the guardian referred to in this provision.

2. Appoint a guardian based on the provisions of paragraph 1. 1 does not constitute an obstacle to be removed, according to the General principles, the lack of capacity to process or deficiencies in the composition of the bodies that prevent their operation. Once you complete them appoint a guardian according to the provisions of this chapter shall be repealed.

3. the guardian shall not apply coercive measures. The guardian is liable for damage as the trustee.

4. the remuneration of the trustee as established on the basis of the provisions of paragraph 1. 1 sets the judge-Commissioner of the applicable to work of the curator. Remuneration of the guardian which has the task to account for goods and services tax shall be increased by the amount of the goods and services tax, as determined in accordance with the applicable rate of tax. The referee shall have the complaint.

Article. 188. [the establishment of guardianship in the event of death of the fallen] 1. In the event of the death of the bankrupt his heir has the right to participate in insolvency proceedings. If the heir is not known or not, he joined to the proceedings, the judge-Commissioner at the request of the insolvency administrators, supervisors, managers or with the Office will establish the trustee to which the provisions of article 3. 187.2. Appoint a guardian pursuant to paragraph 1. 1 loses power after joining to the heirs of the fallen, which has demonstrated its rights by a final provision of the confirmation of purchase. The provisions on the rights and obligations of the bankrupt shall apply mutatis mutandis to the heirs.

3. the provision of paragraph 1. 2 shall apply mutatis mutandis when the guardian has been established.



Chapter 2 the creditors of the Branch 1 General provisions Art. 189. [Creditor] Creditor within the meaning of the Act is entitled to meet with the bankruptcy, even if the claim did not require notification.

Article. 190. [curated by the creditor] 1. For the creditor who is the capacity of the judicial or law, as well as for the creditor is a legal person or any other organizational unit without legal personality, which separate the law recognizes the legal capacity, which has shortcomings in the composition of its bodies to prevent it, the judge-Commissioner may establish a guardian to act in insolvency proceedings, if this will help to streamline the proceedings.

2. Appoint a guardian in accordance with the provision of paragraph 1. 1 does not constitute an obstacle to be removed, according to the General provisions, the lack of capacity or process or deficiencies in the composition of the bodies that prevent their operation. As soon as the complement these shortcomings to appoint a guardian pursuant to paragraph 1. 1 is repealed.

3. the costs of operation guardian shall be borne by the creditor, whose curator was established, and shall be subject to the satisfaction of the sum paid to the creditor in the insolvency proceedings. In the event of the conclusion of the agreement and if paid to the creditor in the insolvency proceedings the sum is not sufficient to meet the costs of establishing a guardian, the judge-Commissioner shall make an order requiring the creditor to bear. These costs is under the provisions for enforcement of court fees. The referee shall have the complaint.



Section 2 the creditors ' Article. 191. [authority empowered to convene the creditors ' meeting] the judge-Commissioner shall convene a meeting of creditors: 1) If according to the provisions of the Act is required to take the resolution of the Assembly;

2) at the request of at least two creditors having a total of not less than a third of the total amount approved.

3) in other cases, when it considers it necessary.

Article. 192. [notice of the convening of the meeting of creditors] 1. The judge-Commissioner shall convene a meeting of creditors by notice, which indicates the date, place and subject matter of the deliberations and how to vote.

2. the notice should be at least two weeks before the date of the Assembly. Copies of the notice shall be served on the trustee, supervisor of the Court, the trustee, the members of the Council of creditors and the bankrupt.

3. in the event of postponement of the meeting of creditors, the judge-Commissioner shall present to an new date and place of the Assembly; in such cases, there shall be a notice again. Put before the voice of the creditor, who has not appeared on the postponed meeting of creditors, shall for the purpose of calculating the results of the vote, if that Assembly voted are the same or more favourable for creditors of the composition proposal.

Article. 193. [the course of the Assembly] 1. The judge-Commissioner chaired a meeting of creditors, without the right to vote.

2. in the course of the meeting of creditors shall be drawn up.

Article. 194. [Persons required to appear in person] the insolvency administrator, supervisor, administrator, members of the Council of creditors and the bankrupt requested clarifications shall appear at the meeting of creditors. Their failure, however, even if justified, does not constitute an obstacle to the Congregation.

Article. 195. [the right to participate in the meeting of creditors] 1. Unless this Act provides otherwise, a meeting of creditors shall be entitled to participate with voting rights the creditors whose claims have been recognised. Creditors vote with the sum of claims on the list.

2. The judge-Commissioner on application by the creditor, and after hearing the debtor can be allowed to participate in the Assembly of a creditor whose claim is subject to the suspensory condition or is uprawdopodobniona; According to the circumstances the judge-Commissioner means the sum of the, which is calculated by the voice of the creditor.

Article. 196. [Vote by] 1. Creditors who have a claim a joint or undivided, vote by a common representative, to whom the power of Attorney must be granted in writing, with the signature of the notary certified. The power of attorney granted an advocate or a solicitor does not require notarization. A delegate may also be one of the creditors. On the establishment of representative creditors shall notify the official receiver in writing before the meeting of creditors or on record orally at the meeting.

2. If the creditors do not make a choice of the representative in accordance with paragraph 1. 1, on behalf of the creditors voting trustee established according to the provisions of the code of civil procedure of the management board with joint ownership.

3. Failure by creditors referred to in paragraph 1. 1 and 2, the choice of agent or receiver shall not prevent to designate the date of the meeting of creditors.

Article. 197. [the right to vote] 1. The creditor does not have voting rights on the basis of the claims, which he had acquired through transfer or endorser after bankruptcy, unless the move was to pay the debt by the due receivables, for which he was responsible person or specific objects of property, from the legal relationship arising before filing for bankruptcy.

2. In matters relating to the agreement shall not have the right to vote, any relative or the bankrupt spouse in a straight line, a relative or in-law of the side line to the second degree inclusive, adoptive fallen or adopted, and when the fallen is a sales company, the partner responsible for the obligations of the company all its assets, a creditor, and persons authorized to represent the company. Not vote also other creditors if they purchased the debt from these people after bankruptcy.

3. In matters relating to the agreement, if the fallen is the sales company, does not have the right to vote, the creditors a company linked to the fallen and the persons entitled to its representation, as well as create a company and persons authorised to its representation, if the bankrupt or this company is the parent company.

4. In matters relating to the agreement, if the fallen is a limited company, the right to vote do not have creditors, who are natural persons, if they represent more than 25% of the share capital of the company.

Article. 198. [Voting] 1. Voting at the meeting of creditors takes place orally or in writing, and the process and the result of the vote shall be entered in the minutes. In the Protocol is given name and surname or company at locations throughout Rhode Island.voter, or vote for or against the resolution, and the sum of the claims on which the vote. If it was given voice in someone else's name, shall be represented and the name at locations throughout Rhode Island.voter. A creditor who abstain from voting shall be considered as not participating in the vote. If at the meeting of creditors includes layout, woof layout shall be entered in the Protocol.

2. The parties may vote at the meeting of creditors by the agents. The power of Attorney must be found a document with the signature notarized certified. The power of attorney granted an advocate or a solicitor does not require notarization of the signature.


3. Voice put in writing requires a notary certified signature, unless the voice has a delegate who is a lawyer or legal adviser.

Article. 199. [resolution Mode] 1. Unless this Act provides otherwise, the resolution of the meeting of creditors shall be reached regardless of the number of those present, by a majority of creditors having at least the fifth part of the total claims per the creditors entitled to participate in this meeting.

2. In the cases of exclusion of property from the estate of the resolution passed by a majority of creditors having at least two-thirds of the total amount approved.

Article. 200. [tax evasion of the resolutions by the judge-Commissioner] the judge-Commissioner may repeal the resolution of the meeting of creditors, if it is contrary to the law or violate decency or grossly violates the interests of the creditor, who voted against the resolution. The referee shall have the complaint.



Division 3 the Council of creditors Art. 201. [establishment of a creditors ' Committee] 1. If the creditors ' Committee has not been set up for the initial meeting of creditors, the bankruptcy judge, in so far as it considers it necessary, shall establish the Council of creditors, and shall appoint its members.

2. At the request of creditors who have at least a fifth part of the total sum of the debt, that have been found or ascertained, the judge-Commissioner is obliged to establish the Council of creditors.

Article. 202. [part of the creditors ' Committee] 1. The creditors ' Committee shall consist of three or five members and one or two alternates. The judge-Commissioner may revoke the members of the creditors ' Committee and deputies, who do not have a duly duties, and set up the other.

2. the members of the creditors ' Committee and their alternates shall be appointed out of the bankrupt's creditors, whose claims have been found or ascertained.

3. The creditor may not accept the duties of a member of the Council or his Deputy.

Article. 203. [request for change in the composition of the creditors ' Committee] 1. The creditors having at least the fifth part of the total debts, which have been found or ascertained, may make a request for change in the composition of the creditors ' Committee.

2. If the judge-Commissioner does not take into account the application referred to in paragraph 1. 1, shall submit it to the meeting of creditors. If at the meeting of creditors for the proposal to deny creditors having at least half of the total receivables recognized or uprawdopodobnionych, there is a change in the composition of creditors pursuant to the resolutions of the Assembly.

Article. 204. [the duties by members of the creditors ' Committee] 1. Members of the creditors ' Committee shall perform their duties personally or through their bodies.

2. a member of the creditors ' Committee, with the consent of the referee, can also act by proxy, and when a member of the creditors ' Committee is a body of public administration also designed by this authority. The power of attorney shall be given in writing with a signature notarized certified. The power of attorney granted an advocate or a solicitor does not require notarization of the signature.

Article. 205. [Task creditors] 1. The creditors ' Committee to assist with the trustee, supervisor of judicial or administrator, controls their actions, examines the status of funds in bankruptcy, grant authorisation to operations which may be carried out only with the authorization of the creditors ' Committee, and is of the opinion in other cases, if requested by the judge-Commissioner, trustee, judicial trustee or overseer. In carrying out the duties of the creditors ' Committee shall be guided by the interests of the general body of creditors.

2. Each member of the creditors ' Committee, as well as the whole of the Council, shall have the right to present to the judge-Commissioner comments on the activities of the trustee, supervisor or administrator, and also ask the referee to dismiss trustee, supervisor or Manager.

3. the Council of creditors may require the trustee, supervisor or administrator explanation and may examine the books and documents relating to bankruptcy.

4. control the activities of the trustee, supervisor of the Court or the insolvency administrator and the creditors ' Committee the insolvency funds examination reports to the judge-Commissioner; with other activities, the Council shall submit a report at the request of the referee.

Article. 206. [Activities requiring permit creditors] 1. In proceedings involving the liquidation of the assets of the bankrupt permit creditors require the following steps: 1) the continuation of the undertaking by the official receiver, if it is to last longer than three months from the date of bankruptcy;

2) withdrawal from the sale of the company as a whole;

3) the sale of rights and claims;

4) borrowings or loans, together with the assets of the bankrupt limited rights in kind;

5) performance of the contract of mutual concluded by the bankrupt or withdraw from the contract and the execution of or withdrawal from the contract concluded by the bankrupt, which shall apply mutatis mutandis the provisions of art. 98 and 99;

6) recognition, waiver or settlement as to the claims at issue and submit the dispute to settle an arbitration award.

11. in the proceedings with the possibility of the conclusion of the authorisation the Council of creditors require the following steps: 1) load by the bankrupt or trustee components bankruptcy mortgage, Lien, liquidations, tax lien and maritime mortgage to secure debt not covered by the agreement;

2) load the administrator components weight other laws;

3) signing by the credits and loans.

2. If the Act referred to in paragraph 1. 1 and 11, must be made immediately, and applies the values of the nieprzewyższającej ten thousand, the bankruptcy trustee, judicial trustee or overseer can execute it without the permission of the Council.

Article. 207. [resolution Mode by the Council of creditors] 1. The creditors ' Committee performs the steps by take resolutions at meetings of the Council. The resolution of the creditors ' Committee shall be reached by majority vote.

2. Control actions of insolvency administrators, supervisors and managers, and inspecting the bankruptcy proceeds, the Council may exercise by each of its members, which to the Authorize.

Article. 208. [the calling of meetings of the creditors ' Committee] 1. Meeting of the creditors ' Committee shall be convened by the insolvency administrator, judicial supervisor or trustee, by notifying Members about the date and place of the meeting, either personally or by registered post lists. Meeting of the Council shall be chaired by the administrator, judicial supervisor or trustee, without the right to vote.

2. On the control activities of the insolvency administrators, supervisors and managers, and State funds in bankruptcy meeting may be convened by any of the members of the Council. The meeting shall be chaired by the eldest member of the Council, unless the members of the Council agree otherwise.

3. the meeting of the creditors ' Committee may also convene the judge-Commissioner, who chairs the meeting, without the right to vote.

Article. 209. [meeting minutes] 1. Of the Council meeting of creditors performs a protocol that sign present. Denial of signature in the Protocol.

2. the President shall immediately after the meeting sends a copy of the Protocol to the judge-Commissioner, as well as the trustee, supervisor of the Court and the administrator, if they were not present at the meeting.

Article. 210. [repeal of the resolution of the creditors ' Committee] the judge-Commissioner may, within one week of the date of submission to him a copy of the Protocol, repeal the resolution of the Council of creditors, if the resolution is contrary to the law or violate morality. On the order of the referee's for the complaint.

Article. 211. [remuneration for participation in the meeting of the creditors ' Committee] 1. A member of the creditors ' Committee is entitled to reimbursement of necessary expenses related to its participation in the meeting of the creditors ' Committee. For participation in the meeting of the judge-Commissioner may grant a member of the Council of the appropriate remuneration, if reasonable it is kind and degree of complexity of the case and the scope of work. This remuneration may not exceed 3% of the monthly average wage referred to in art. 162 para. 2, for a one-day meeting. Remuneration and reimbursement of expenses is included in the costs of the proceedings.

2. Decision on the reimbursement of expenses it seems the judge-Commissioner, after hearing the Council member and trustee, supervisor or Manager.

Article. 212. [liability of the members of the creditors ' Committee for damage sustained from improper duties] 1. A member of the creditors ' Committee is responsible for the damage sustained from improper duties.

2. For damage caused improper performance obligations by a delegate acting Council created corresponds to how the action of their own.

Article. 213. [execution of the creditors ' Committee by the judge-Commissioner] 1. If the Council of creditors have not been established, activities reserved for the creditors ' Committee shall judge-Commissioner.

2. The judge-Commissioner performs also activities reserved for the creditors ' Committee, if the Council does not perform them within the time limit set by the judge-Commissioner.



SECTION IV General provisions relating to proceedings after bankruptcy Article. 214. [Rule in closed session] the Court in closed session, unless this Act provides otherwise.


Article. 215. [link to the overall diagnosis of bankruptcy partners partnership] 1. In the event of bankruptcy all members civil court may connect to the overall case bankruptcy led to the shareholders of the company. If the bankruptcy was announced in various courts, the provisions of article 4. paragraph 149. 2 and 3 shall apply mutatis mutandis.

2. In order to combine cases the Court shall appoint a single judge-Commissioner, trustee, judicial administrator or trustee to all connected issues.

3. for each of the fallen shall be drawn up separate lists of claims and plans to split proceeds of the bankruptcy, the Office shall take into account the satisfaction of the debt, for which the fallen jointly and severally.

4. the remuneration of the liquidator, supervisors and managers and the cost of the liquidation of the cover in proportion to the value of the estate of each of the fallen.

5. the provisions of paragraphs 1 and 2. 1-4 shall apply mutatis mutandis in the event of bankruptcy of the personal trading company and its shareholders are shouldering responsibility for the liabilities of the company without the limitations of all its assets.

Article. 216. [power of Attorney] To the proxy specified in the Act shall apply the provisions of the civil code, unless this Act provides otherwise.

Article. 217. [Hearing participants and other persons] 1. If you want to listen to the bankrupt, the trustee, supervisor, administrator, creditor, a member of the creditors ' Committee or any other person, the Court or the judge-Commissioner, as appropriate, shall hear them at the meeting and be heard shall draw up, in the presence or absence of other people interested in, or receives from people wysłuchiwanych notification in writing.

2. the Court or the judge-Commissioner may order also, by a written statement referred to in paragraph 1. 1, include the signature of the notary certified.

3. In the absence of the person referred to in paragraph 1. 1, the requested meeting or failure to submit by this person to declare in writing, even for reasons justified, not tamuje of the proceedings.

4. the provisions of paragraphs 1 and 2. 1-3 shall also apply to the taking of evidence from witnesses and experts.

Article. 218. [request for the taking of evidence] if the trustee, judicial trustee or supervisor deems necessary to determine the circumstances of the case, by way of evidence, consists of the judge-Commissioner request for the taking of evidence. In the event of inquiries request leads the judge-Commissioner.

Article. 219. [Form of decisions in proceedings] 1. In the insolvency proceedings of the decision shall be reached in the form of provisions.

2. (repealed).

Article. 220. [Service provision] 1. The provisions, which shall be subject to the notice or the notice, there shall be served on the participants in the proceedings. Other provisions, if they were not released in open court, shall be served on the persons whose provision concerns. There shall be delivered to the individual creditors the provisions relating to the general body of creditors.

2. the provisions, which are not subject to the notice or announcement, puts in the registry of the Court, which should make reference to the operative part of the order, with an indication of the date of the liner.

Article. 221. [how to make Notices] 1. Notice, in the cases provided for in this Act, shall be made by a notice in the Court building and the inclusion of at least one local log, unless the law provides otherwise.

2. At the request of the trustee, supervisor or Manager, or from the Office of the judge-Commissioner may order the placement of the notice in other newspapers with national or foreign, as well as order to notice otherwise.

3. at the request of the debtor or the creditor, at their expense, the notice may be made in the manner indicated by them.

Article. 222. [complaint against the decision of the bankruptcy court or the judge-Commissioner] 1. The provisions of the bankruptcy court and judge-Commissioner a complaint in cases specified in the Act. Complaints to the referee recognizes the bankruptcy court as a Court of second instance.

2. A complaint brought by a creditor shall be served on the debtor, the trustee, the Court supervisor or Manager.

3. The complaint brought by the bankrupt shall be served on the trustee, supervisor of the Court or insolvency administrator and creditors, whose interests are affected.

4. There shall be served on the complaints on the provisions relating to the general body of creditors.

Article. 223. [appeal Inadmissible] 1. From the provisions of the Court of second instance further appeal shall not, unless the law provides otherwise.

2. Action for non-compliance with the law of a final judgment is not entitled.

Article. 224. [time limit for an appeal] the time limit for an appeal runs from the date of service provision and for which there is no obligation to the service, from the date of its publication. For creditors, which provision has not been announced, this time limit shall run from the date of the notice of the order, and when the order is not subject to the notice, from the provisions of the lining in the registry of the Court.

Article. 225. [time limit for bringing an action on the bailiff's activities in the course of insolvency proceedings] complaints about the actions of the bailiff in the course of insolvency proceedings shall be filed within one week from the date of termination.

Article. 226. [Security] 1. Security in the cases referred to in this Act shall be effected by the deposit of legal deposit the appropriate sum of money.

2. The release of the sum of the complex to the deposit rules the judge-Commissioner after hearing the insolvency administrators, supervisors or managers and those interested.

3. The provisions of paragraphs 2 and 3. 1 and 2 shall not apply to secure the implementation of the system, if the system provides for other forms of security.

4. The order of the judge-Commissioner of the security shall be entitled to appeal.

Article. 227. [Storing cash sum in judicial deposit] [4] the sum of cash entering the insolvency administrator and the sum obtained from the sale of the goods and Rights stressed, if not subject to immediate release, the administrator shall submit to the deposit.

Article. 228. [Sharing case] the Court Records are available in the registry of the Court for the parties and for anyone who need to review adequately justify. These people can make and receive the file copies and extracts.

Article. 229. [the correct application of the provisions of Ccp] In the case of matters not regulated by the law for the insolvency proceedings shall apply mutatis mutandis the provisions of the book of the first the first part of the code of civil procedure, with the exception of the provisions on the suspension and resumption of the proceedings.



Section V Costs Article. 230. [costs and expenses of the bankruptcy proceedings] 1. To the costs of the insolvency proceedings include court fees and the expenses necessary to achieve the purpose of the proceedings.

2. The expenditure referred to in paragraph 1. 1 are in particular: remuneration and expenses of the trustee, the supervisors and managers and their deputies, the remuneration and expenses of the members of the creditors ' Committee, the costs of the meeting of creditors, delivery charges, notices and announcements, payable for the time after the announcement of the bankruptcy of the taxes and other tribute public, expenditure related to the management of the estate, including the per for the time after the Declaration of bankruptcy claims from employment and social insurance contributions receivable , expenses related to the liquidation of the estate, at least in terms of the liquidation took place on the basis of the agreement.

Article. 231. [Covering the costs of the procedure] 1. Costs of the insolvency proceedings shall be charged to the estate.

2. The outstanding principal of the insolvency costs of insolvency proceedings after the insolvency proceedings shall be borne by the debtor. Should the insolvency proceedings, the judge-Commissioner may release the debtor from paying court costs.

3. The order of the referee as to costs shall be entitled to appeal.

Article. 232. [an advance on the costs of the proceedings], if necessary, the judge-Commissioner shall convene a meeting of creditors in relation to decide what to pay by creditors of the advance on costs of proceedings or will require creditors who have the biggest debts, which total amount is at least 30% of the total claims per the creditors entitled to participate in the Assembly, to make a down payment on the costs of the proceedings.

Article. 233. [Costs returned to the creditor] to the creditor shall not be entitled to reimbursement of expenses incurred by him in the proceedings. Creditor returns, however, sustained by the costs caused by the transfer object to the recognition of the claim of another creditor, if as a result of bringing This objection was denied recognition to the contested claims, as well as returns to an advance on the costs of the proceedings, which is made at the request of the official receiver or in accordance with the resolution of the meeting of creditors if the insolvency funds enough on its cover.

Article. 234. [refund by the creditor] 1. You cannot request a refund from the creditor to the insolvency costs resulting from action taken by the creditor in the insolvency proceedings.


2. after the completion of the insolvency proceedings, the bankrupt may request reimbursement from the creditor unless there has been a waiver of the insolvency proceedings and the creditor has reported the request for a declaration of bankruptcy in bad faith.

Article. 235. [Load the creditor the costs] 1. Cost of bankruptcy proceedings resulting from the filing of claims by the creditor after expiry of the deadline for the lodging of claims, even if the delay was no fault of the creditor, shall be borne by the creditor who made the claim after the deadline.

2. The judge-Commissioner may require the creditor to deposit the advance on costs associated with filing claims after the deadline for submissions. In the event of failure of the advance reporting of claims shall be refunded.



Title V of the application and determination of claims and Reporting claims, Chapter 1 of reportable Claims Art. 236. [Permission to report claims] 1. Create a personal bankruptcy, that wants to participate in insolvency proceedings, if it is necessary to establish his claim, should within the period indicated in the order for the bankruptcy report the judge-Commissioner on his claim.

2. Entitlement to the receivables have a creditor in addition, when his claim was secured by a mortgage, Lien, liquidations, tax lien, mortgage sea or by another entry in the land register or in the registry book. If the creditor does not raise these claims, they will be included in the list of claims with the Office.

3. the provision of paragraph 1. 2 shall apply mutatis mutandis to a claim secured by a mortgage, a lien or liquidations, tax lien, mortgage sea on the things that are included in the estate, if the bankrupt is not the debtor, and the creditor wants the bankruptcy to assert their claims of collateral.

4. the provisions of this article concerning the claims apply to other charges subject to the satisfaction of the insolvency administrator.

Article. 237. [of receivables from the employment relationship] does not require notification of debts from the employment relationship. Of this title shall be placed on the list of claims with the Office.

Article. 238. [the claim for refund with the insolvency benefit paid to workers] rules on pay claims shall apply mutatis mutandis to the claims of the Fund of guaranteed employee benefits reimbursement from the Insolvency Fund benefits paid to employees.



Chapter 2 reporting the claims Art. 239. [form of filing claims] the Declaration of claims shall be made in writing in duplicate. To the letter the applicant claim appends the original or notarized certified copy of document justifying the request. Copies of credentials may also counsel or advocate, who is a representative of the creditor who reports claim.

Article. 240. [content of the notification] the notification of claims should include: 1) the name and surname or name, or a company of the creditor and his place of residence or registered office;

2) identification of the debt along with side duties and the value of the non-monetary claims;

3) evidence stating the existence of debts;

4) category to which a claim is to be credited;

5) security associated with the debt and the creditor's claim, in which probably a total claim will not be satisfied with the collateral;

6) in the case of receivables, to which the bankrupt is not the debtor, the subject of security, with whose claim is subject to satisfaction;

7) case status, if the claims of judicial or administrative proceedings;

8) if the creditor is a partner or shareholder of the fallen – the amount of shares or shares and their type.



Chapter 3 checking reported claim Art. 241. [transfer of a copy of the notification to the trustee, the Court supervisor or administrator] where the application claims meets the requirements referred to in article 4. 239 and 240, the judge-Commissioner shall transmit a copy of the notification to the trustee, the Court supervisor or Manager.

Article. 242. [Refund notification without summons to complement] If receivables shall be the operator or a creditor represented by the Prosecutor, which is an attorney or legal advisor, reporting the claims not conforming to the requirements set out in article 2. 239 and 240 or other deficiencies that prevent you from giving notification, the gear shall be refunded without a call to its complement.

Article. 243. [Check notified claims] 1. The bankruptcy trustee, judicial trustee or supervisor checks whether the reported claim is confirmed in the accounts or other documents of a fallen or entries in the land register or registers, and calls on the bankrupt to deposit a declaration within the delineated whether the claim is considered.

2. (repealed).



SECTION II list of claims Section 1 to determine the list of claims Article. 244. [draw up a list of receivables] after the expiry of the deadline for filing claims and checking reported claim bankruptcy trustee, judicial trustee or supervisor shall draw up a list of claims.

Article. 245. [the data included on the list] 1. A list of claims shall be placed in separate sections following data: 1), in which a claim must be recognised;

2) category, in which a claim is subject to satisfaction;

3) the existence and type of collateral and the determination of the sum, which will be calculated voice of the creditor; the sum of this means according to that part of the debt, which will probably not be satisfied with the collateral;

4) if the claim is subject to the condition;

5) If a creditor has a right to set-off;

6) the status of judicial or administrative proceedings concerning the notified claims its security or rights of set-off.

2. If the trustee, judicial trustee or overseer, denies, in whole or in part, the creditor's statements, this justifies in a separate box.

3. The trustee, judicial trustee or overseer puts a list of claims also statement of the bankrupt and provided justification, if the debtor has made such a statement, or mention that the bankrupt claims not made and why.

Article. 246. [Placing a list of monetary claims] non-monetary Claim will be included in the list of claims in total, according to the monetary value of the Declaration of bankruptcy.

Article. 247. [monetary Claim niewymagalna] 1. If at the date of bankruptcy the debt without interest was not yet due, a list of claims shall be the sum of the money debt less the statutory interest, no higher than 6% and for the time from the date of bankruptcy to maturity, however, for two years.

2. Interest on monetary claims shall be placed on the list in the amount accrued to the date of bankruptcy.

Article. 248. [Claim współdłużnika or guarantor of the fallen] Claim that the fallen is współdłużnikiem, and debt guarantor of bankruptcy back claim is placed on this list, in which współdłużnik or surety satisfied the creditor.

Article. 249. [Claims in respect of recurring benefits] 1. Claims in respect of recurrent benefits, whose duration is marked, shall be placed on the list as the sum of the benefits for the entire duration, less the statutory interest, no higher than 6% and for the time from the date of the Declaration of bankruptcy until the due date of any future benefits.

2. claims for benefits of repeated that time marked on the life of the holder or another person, or unmarked as to the duration of the places on the list of claims as the sum of equal value.

3. If the agreement for the right to the benefits of repeated is the sum of the redemption, the sum of this be placed on the list as the value of the rights.

4. The provisions of paragraphs 2 and 3. 1-3 shall not apply to maintenance.

Article. 250. [a claim secured by a mortgage or an entry in the registry] Debt secured by mortgage or an entry in the registry on the assets of the bankrupt situated abroad shall be placed on the list, if proof is the deletion of the entry of the freezing order.

Article. 251. [the debt in foreign currency] Debt in foreign currency regardless of the date of its maturity shall be placed on the list after the terms of money Polish according to the average exchange rate of foreign currency in the National Bank of Polish of bankruptcy, and when such a course was not, according to the average market price of that date.


Article. 252. [notification of claims after the deadline] 1. If a claim has been reported by the creditor after expiry of the deadline for the lodging of claims, regardless of the reason for the delay, the steps already made in bankruptcy proceedings are effective against the creditor and his recognized claim only shall be taken into account in the plans for the allocation of funds in bankruptcy made after its recognition.

2. However, if a claim was reported after the approval of the final plan of allocation of funds in bankruptcy, left it without consideration.

3. In insolvency proceedings, with the possibility of the conclusion of the reporting of claims after the deadline shall not prevent steps of the proceedings, in particular is not an obstacle to the completion of the creditors ' meeting and adoption of the agreement. If the date on which the agreement was issued a final order of the referee on the supplement a list of claims, proceedings in this matter shall be remitted.

Article. 253. [Supplement a list of receivables] 1. After the expiry of the deadline for lodging claims to the trustee, judicial trustee or supervisor completes the list of claims as the lodging of claims.

2. If the claims have been reported after transmission of a list of claims to the judge-Commissioner, trustee, judicial trustee or supervisor shall supplement the list of claims involving such claims, together with an indication of how they will be met.

Article. 254. [taking into account the list of changes to the creditor] 1. Change the creditor after filing claims shall be included in the list of claims only when it was established the official document or must leave no doubt private document signed officially certified and where a change in the creditor was notified to the trustee, the Court supervisor or Manager before passing a list of claims to the judge-Commissioner. The judge-Commissioner may take account of changing creditor notified after the transfer to him the list of claims, and before its final approval, if not it will cause delays in the procedure.

2. Dismissal of the changes referred to in paragraph 1. 1, does not deprive the purchaser of receivables of its powers on the basis of the provisions of the Act in the course of further proceedings.



Chapter 2 the challenge list claims Art. 255. [the advertisement and share a list of receivables] 1. The bankruptcy trustee, judicial trustee or overseer passes a list of claims to the judge-Commissioner, that its completion will announce by proclamation and the advertisement in the Gazette.

2. A list can view the application lodged at the court registry, any interested.

Article. 256. [objection to the recognition or non-recognition of claims] 1. Within two weeks from the date of the notice and the notice in the Gazette and to provide a list of claims to the judge-Commissioner, each creditor placed on the list may submit to the judge-Commissioner an objection to the admission of claims, and as for the refusal of recognition-the refused recognition of notified claims.

2. At the same time the opposition have fallen, if the project is not in accordance with its conclusions or statements. If the bankrupt does not comprise the claims, although it was called may object only if it demonstrates that he has not submitted claims for reasons beyond his control.

Article. 257. [the opposition] 1. The opposition should comply with the requirements of a formal pleading and, in addition, indicate the contested claim and include a proposal as to the recognition or non-recognition of claims and the reasons for it and an indication of the evidence to support it. The judge-Commissioner rejects the opposition that does not satisfy these requirements or late.

2. within one week of the date of notification of the decision to reject the opposition you can bring it back. If the opposition does not contain deficiencies, effect from the date of filing of the opposition rejected.

3. the powers referred to in paragraph 1. 2, is not entitled to in the event of renewed rejection of the opposition.

Article. 258. [opposition] If a claim is established by a final court decision, the opposition may be based only on the events occurring after the close of the hearing in the case in which the judgment was given. These events should be found proof in writing.

Article. 259. [Recognize opposition] 1. The opposition to recognize the judge-Commissioner at the hearing. For trial calls on the trustee, judicial administrator or trustee, the bankrupt and the creditor who has made an objection, and the creditor whose claims of opposition concerns. The failure of these people not prevent adoption of the order.

2. The referee shall have the complaint.



Chapter 3, straightening and complete list of claims Article. 260. [approval of list of receivables] 1. After extending the provisions of the referee on the object, and if his appeal, after coming to the court order, the judge-Commissioner makes changes in the list of claims on the basis of these provisions and shall approve a list of claims.

2. If the opposition is not sought, the judge-Commissioner shall approve a list of claims after the deadline for his lodging.

3. In insolvency proceedings, with the possibility of the conclusion of the judge-Commissioner may approve a list of claims in part that includes established claims, if the sum of the claims in dispute does not exceed 15% of the total claims.

Article. 261. [change list claims] the judge-Commissioner may of its own motion make changes in the list of claims in the event of a finding that the list includes claims which, in whole or in part does not exist, or is not on the list of claims, which shall be placed on the list. Order a change in the list shall be subject to the notice. In order to receive the complaint.

Article. 262. [Supplementary claims list] 1. If a claim was reported after the deadline for filing claims or has been revealed after this date a claim that does not require notification, the claim shall be placed on a supplementary list.

2. the list of claims shall be rectified according to the judgments. Change the amount of the claim there was once a list of claims is taken into account when drawing up the draft terms of Division or by vote at the meeting of creditors.

3. (repealed).

Article. 263. [debt recovery in the event of denied its discretion] denial of admission of claims under the provisions of this chapter shall not prevent its investigation in due course. If the denial of admission of claims in insolvency proceedings involving the liquidation of the assets of the bankrupt, debt recovery, which has been denied recognition, is only possible after the withdrawal or termination of the insolvency proceedings.

Article. 264. [an extract from the approved by the referee's list of claims] 1. Subject to article 8. 296, after termination or closure of insolvency proceedings extract from an approved by the judge-Commissioner a list of claims, containing the designation of the claims and the amount received against her by the creditor, is a writ of execution against the debtor.

2. the Bankrupt may request the determination that a claim falls within the list of claims does not exist, or exist to a lesser extent, if I had not considered the claims reported in the bankruptcy proceedings and has not gotten it yet a final judicial decision.

3. If you extract from the list of claims the enforcement clause that the claim falls within the list of claims does not exist, or that there is to a lesser extent, the fallen may raise by way of an action for deprivation of a writ.

4. The provisions of paragraph 1. 1 shall not apply in relation to the creditors, to which the bankrupt was not the debtor.

Article. 265. [mentioned in your statement that specifies the responsibilities of the fallen] 1. If the Court dismissed the part of the bankrupt's obligations which have not been met in the bankruptcy proceedings, in an extract from the list of claims referred to in article 2. 264 paragraph. 1, includes reference to responsibilities of the fallen.

2. If the Court dismissed the entire obligation of the bankrupt that has not been met in the insolvency proceedings, the provision of art. 264 shall not apply.

Article. 266. [refund of the documents submitted to prove the claims of] a creditor may claim the documents submitted to prove the claims. On the order of the judge-Commissioner of the court clerk issue the documents with an indication on them, in which the total debt has been recognized.



Title VI Layout SECTION I General provisions Art. 267. [the term filing proposals for systemic] 1. If the Court declared bankruptcy with the possibility of the conclusion of the agreement, and the composition proposal have not been made, the fallen should report them within one month. Along with the composition proposal fallen should submit a cash flow for the last twelve months, if he was obliged to keep documentation to draw up such an account. At the same time, the composition proposal may submit also overseer of the Court or the trustee.


2. Important reasons the judge-Commissioner may extend to three months the time limit for filing the proposal and data submission to the systemic, referred to in paragraph 1. 1.3. In the event of failure by a fallen systemic proposals within the period referred to in paragraph 1. 1 or 2, the bankrupt loses the right Board of the bankrupt, if the rights of such previously has not been stripped, as well as the right to submit proposals for systemic.

4. If the Court declared bankruptcy with the possibility of the conclusion of at the request of the creditor, who reported the initial composition proposal, the creditor may also submit a composition proposal. The provisions of paragraph 1. 1 and 2 shall apply mutatis mutandis.

Article. 268. [notification of systemic proposals after the Declaration of insolvency] if the Court declared bankruptcy involving liquidation of the assets of the bankrupt, composition proposal may report a fallen, the insolvency administrator and the creditors ' Committee. The Court will change the way you conduct the investigation with the possibility of the conclusion of the agreement, if there are grounds for such a change. On order of the Court shall be entitled to appeal.

Article. 269. [the determination and justification of how the restructuring of the bankrupt's obligations] composition proposal should specify how the restructuring of the bankrupt's liabilities and contain the justification.

Article. 270. [Restructuring obligations fallen] 1. Proposals for the restructuring of the bankrupt's obligations may include, in particular: 1) postponement of the implementation of commitments;

2) distribution of debts in installments;

3) reduce the amount of debts;

4) the conversion of debt into shares or shares;

5) change, replace or repeal of the security law a specific claim.

2. the composition proposal may indicate one or more ways.

3. for systemic proposals providing for the conversion of debts into shares as specified in article 4. 3 paragraphs 1 and 2. 1 of the Act of 29 July 2005 on public offer and the conditions of introduction of financial instruments to organised trading system and on public companies does not apply. 7 paragraph 1. 1 of this Act and articles. 19 paragraph. 1 point 2 of the Act of 29 July 2005 on trading in financial instruments.

Article. 271. [no more than a System] 1. The system can also provide for satisfaction of creditors through the liquidation of the assets of the bankrupt (no more than a layout). The liquidation shall be carried out according to the provisions of the law on liquidation bankruptcy, unless the arrangement provides for the acquisition of the assets of the bankrupt by creditors or otherwise.

2. If the system provides for the liquidation of the assets of the bankrupt according to the provisions of the Act, the liquidation shall be carried out in person, as specified in its content. The liquidation will not infringe the rights of, and the effects of disclosure of rights and claims, obligations on the estate of the bankrupt.

Article. 272. [Claims covered by the agreement] 1. The layout includes claims arising before the date of bankruptcy of the debtor.

2. (repealed).

3. the Agreement also includes claims dependent on condition, if the condition's run time system.

Article. 273. [Claim not covered by the agreement] 1. The layout does not include: 1) maintenance duties and rent in respect of compensation for causing the disease, inability to work, disability or death, and for the conversion of the powers covered by the content of the right to life imprisonment on a lifetime disability pension;

2) claims for the property referred to in article 2. 70;

3) (repealed);

4) claims for which a bankrupt is responsible in respect of the acquisition of the estate of the bankruptcy, after entering decline to insolvency;

5) social insurance contributions.

2. Layout does not include receivables from the employment relationship and debts secured on the property of the bankrupt by mortgage, Lien, liquidations, tax lien or mortgage, in part to cover the value of the collateral, unless the creditor has agreed to its inclusion. Consent to be bound by the debt arrangement should be expressed in a way an unconditional and irrevocable, before proceeding to the vote on the agreement. Consent may be expressed orally to the Protocol of the meeting of creditors.

3. the provision of paragraph 1. 2 shall apply mutatis mutandis to claims secured by the transfer to the creditor of title, claims or other rights.

Article. 274. [Claims from employment] rules on claims from employment shall apply mutatis mutandis to the claims of the Fund of guaranteed employee benefits reimbursement from the Insolvency Fund benefits paid to employees.

Article. 275. [the term mutual aid between creditors] if the system provides for the liquidation of the assets of the bankrupt by the acquisition of property by creditors, you can specify in the mutual aid between creditors.

Article. 276. [the term of the benefit intended to pay off the debt] if the composition proposal provide for repayment of the debt with the profit the company bankrupt, they can specify how much of the profit is intended to pay off debts.

Article. 277. [Consent entitled to change the content of legal relations] if the composition proposal rely on changing the content of legal relationship or rights, establish or change security for claims should be attached in the form of the law provided for the unconditional declaration by the people from whom the consent is subject to changing legal relationship or rights or change the security claims.

Article. 278. [the Division of creditors due to the categories of interest] after the approval of the list of claims the judge-Commissioner may decide that the vote on the agreement will take place in groups of creditors. In this case, in order to vote on the agreement, it shall draw up separate lists of eligible voters of creditors, including the various categories of interest. These lists may include in particular: 1) creditors who have claims of labor relations and who have agreed to their inclusion in the layout;

2) farmers, which have claims arising out of contracts for the supply of products from the agricultural holding;

3) creditors whose claims are secured on assets of the bankrupt mortgage, Lien, liquidations, tax lien or mortgage, as well as by the transfer to the creditor of title, claims or any other law, and who have agreed to their inclusion in the layout;

4) creditors who are partners or shareholders of the fallen capital company holding shares or the shares of a company at least 5% of votes at the shareholders ' meeting or general meeting of shareholders, at least in terms of enjoying the claims listed in points 1 to 3;

5) other creditors.

Article. 279. [the conditions for liabilities of the fallen] 1. The conditions for the bankrupt's obligations should be the same for all creditors, and if the referee decides that the vote on the agreement will take place in groups of creditors, the same for creditors belonging to the same group, unless the creditor specifically agree to conditions less favourable.

2. More favourable conditions of the restructuring obligations may be granted to creditors with little debt, and creditors, who after bankruptcy have given or will give credit needed for the execution of the agreement.

3. The conditions for liabilities from the employment relationship may not deprive workers the minimum remuneration for work.

4. restructuring should equally apply to non-monetary and monetary commitment. However, if created by the Declaration of claims has not given consent to the restructuring of its debt as non-monetary claims or due to the nature of the non-monetary claims restructuring is not possible, a claim that changes in the monetary claim. The provisions of article 4. 91 shall apply mutatis mutandis.

5. The conditions for the claims referred to in article 1. 278 paragraph 3, may be varied according to their priority.

Article. 280. [justification for proposals composition] 1. Justification for the proposal for a composition must include: 1) a description of the status of the enterprise with particular determination of its economic and financial situation, legal and organizational;

2) analysis of the market sector, on which the enterprise bankruptcy works, taking into account the market position of the competition;

3) method and the source of funding for the implementation of the agreement, taking into account the anticipated revenue and expenditure at run time;

4) analysis of the level and structure of risk;

5) persons responsible for the execution of the agreement (s);

6) evaluation of an alternative way of restructuring;

7) creditors ' rights and interests protection system for the duration of the implementation of the agreement.

2. The judge-Commissioner may allow to reduce systemic proposals justification, if given the size and nature of the company in bankruptcy to determine all of the data listed in paragraph 1. 1 it is not necessary to ensure the correct implementation of the agreement.



TITLE II conclusion and approval system


Article. 281. [the convening of the meeting of creditors with a view to the conclusion of the agreement] 1. The creditors ' meeting should be held within one month from the date of approval of the list of claims. At the same time, with the notice of meeting shall be served on the creditors related firmware and information on the distribution of creditors due to the categories of interests of creditors.

2. the Assembly may take part also a creditor whose claim has not been included in the list of claims, if the present judge-Commissioner of the final judgment of the General Court or of a final administrative decision stating his claim. Promote the vote with the sum of the claims determined in a final judgment of a court or of a final administrative decision.

3. In the Assembly do not participate the creditors whose claims are disputed.

Article. 282. [the right to convene the creditors ' meeting] 1. The judge-Commissioner may convene a meeting of creditors appointed in order to conclude the agreement even if the sum of the claims in dispute does not exceed 15% of the total claims. On the existence and nature of the disputed claims the judge-Commissioner shall notify the creditors, together with the proposals for systemic.

2. The provisions of paragraph 1. 1 shall not apply if at the meeting of creditors to be voted related conclusion of winding-up, unless the proposals provide for protection of the rights of creditors whose claims are disputed.

Article. 283. [voting on the composition proposal] 1. At the meeting of creditors a judicial Report Manager or overseer, which assesses the State of the company and reviewing the possibility of systemic proposals.

2. If several proposals for systemic judge-Commissioner shall determine the order of voting on the composition proposal. The adoption of a single systemic proposals preclude voting on further proposals.

3. At the meeting of creditors debtor may make changes and additions to the composition proposal. In case of application by the bankrupt of the amendments to the proposal for a composition more favourable for creditors ' votes cast in writing the original composition proposal shall be deemed to be votes for revised the composition proposal. Proposals for systemic less favourable to creditors shall not vote. To vote on the amended proposal for a systemic recipe paragraph. 2 shall apply mutatis mutandis.

4. In particularly justified cases the judge-Commissioner may postpone the vote on the agreement for a period of up to one month. The postponement may not be retried. To postpone the vote, judge-Commissioner Announces at the meeting of creditors.

Article. 284. [Additional conditions necessary to carry out the vote] 1. If the system determines the security of his performance by third parties, the loan debtor or consent of third parties to change the content of the rights or legal relations, the vote on the agreement can take place only if at the meeting of creditors submitted documents, from which it is apparent that these commitments after the conclusion of the agreement will be made.

2. the provision of paragraph 1. 1 shall apply mutatis mutandis, when the system determines that the fallen on the execution time of the system to provide irrevocable power of Attorney covering the conduct of all or part of his business affairs or the irrevocable power of attorney to the regulation of the property of the bankrupt in the event of non-execution of the agreement, as well as entrusting the management of a firm to persons indicated in the layout.

3. If the system determines the bankrupt's obligations restructuring by converting debts per share or shares, the vote on the agreement can take place only if at the meeting of creditors submitted will be the consent of the President of the Office of competition and consumer protection, required under the provisions of separate, or it is shown that such consent is not required.

Article. 285. [the adoption of the agreement] 1. The system is adopted, if you give him the majority of the creditors entitled to vote, with a total of at least two-thirds of the total debt eligible to vote.

2. If a vote over the layout is done in groups of creditors, including the various categories of interest, the layout is adopted if in each group would vote for him most of the creditors in this group, with a total of at least two thirds of the sum of claims covered by a list of eligible voters.

3. The system is adopted, even if not obtained the required majority in some of the groups of creditors, if the majority of creditors of the other groups, with a total of two-thirds of the total debt eligible to vote, agreed to accept the agreement, and the creditors of the group or groups who have spoken out against the adoption of the agreement, will be satisfied on the basis of the agreement to the extent not less favourable than in the case of bankruptcy proceedings involving the liquidation of the assets of the bankrupt.

4. the conclusion of the judge-Commissioner says.

Article. 286. [effects of failure system] 1. If there is no agreement, the Court shall immediately changes how the conduct of the proceedings, with the possibility of the conclusion of the proceedings involving the liquidation of the assets of the bankrupt and the trustee establishes. On order of the Court shall be entitled to appeal. The Court of second instance recognizes the complaint within one month from the date on which his case.

2. automatic admission to the agreement is unacceptable.

Article. 287. [approval of the agreement by the Court] 1. The arrangement adopted by the meeting of creditors approve the Court.

2. The hearing in order to approve the agreement shall take place no sooner than one week of the meeting of creditors.

3 v to parties to the proceedings may submit their complaints. Allegations reported at the meeting of creditors shall be entered in the minutes of the course of the meeting of creditors. Allegations reported after a week from the date of the conclusion of the leaves without the diagnosis.

4. The date of the hearing to approve the agreement shall be by notice, unless the judge-Commissioner announces that at the meeting of creditors.

5. On the order of the Court of the approval agreement shall be entitled to appeal.

Article. 288. [denial of approval of the agreement] 1. Court refuses to approve the agreement, if it violates the law or if it is clear that the arrangement will not be made.

2. The Court may refuse to approve the agreement, if its conditions are grossly unfair to creditors, who voted against the system and reported the allegations.

3. The order of the Court shall be entitled to appeal.

Article. 289. [Validation the provisions of non-approval of the agreement] on the legal effects of the provisions of the non-approval of the agreement, the Court changes the manner in which the insolvency proceedings, with the possibility of the conclusion of the proceedings involving the liquidation of the assets of the bankrupt and the trustee or redeems.



SECTION III effects of the layout of the Article. 290. [be bound by creditors agreement] 1. The layout of the binds all creditors whose claims under the law are covered by the system, even if they were not included in the list.

2. The layout is not binding on the creditors, whose fallen deliberately not revealed and who participated in the proceedings.

Article. 291. [behavior by the creditors ' rights under the guarantee, mortgage and pledge] 1. The arrangement does not infringe the rights of the creditor against the guarantor of the bankrupt and the bankrupt współdłużnika or rights under a mortgage, Lien, and Lien registration and mortgages, if they were established on the property of a third party.

2. the provision of paragraph 1. 1 shall apply mutatis mutandis to the rights arising from the transfer to the creditor of title, claims or other rights in order to secure the claim.

Article. 292. [Relationship to the restricted real rights established property of the fallen] 1. The layout does not prejudice the rights under a mortgage, pledge, Lien, tax lien registration and mortgages, if they were established on the property of the bankrupt, unless the holder has consented to the inclusion of the secured claim.

2. in the case of consent to be bound by agreement of the secured claim the rights referred to in paragraph 1. 1, shall remain in force, except that they secure debt in the amount and under the conditions of the payments referred to in the agreement.

Article. 293. [End of insolvency proceedings] 1. After extending the provisions authorizing the arrangement the Court shall make an order of the completion of the bankruptcy proceedings. If it contains no more than a system, the order of the completion of the bankruptcy proceedings it seems after liquidation. In the case referred to in the second sentence, the provisions of article 4. 369 and 370 shall apply mutatis mutandis.

2. After the proceedings have fallen recovers right to wield and the management of its assets, in so far as this is due to the content of the agreement.

Article. 294. [System basis for entries in the land register and the registers] 1. The layout along with a copy of a final order approving the agreement provides the basis for the entry of information about approval of the registers and records.

2. If the system provides for the establishment of the Board forced the execution time of the agreement, a copy of the agreement along with a copy of a final order approving the arrangement provides a title for the Executive to introduce the possession of the bankrupt's asset managers.


3. If the system provides for the conversion of debts into shares or the shares of a company which is a fallen, legally approved layout overrides specified in the code of commercial companies activities related to the increase of the share capital and taking up the shares. The layout along with a copy of a final order approving the agreement provides the basis for the entry of an increase of the share capital of the company in the national court register.

Article. 295. [waiver of security enforcement and proceedings suspended] 1. The date when the provisions of the approval system under the law are remitted of proceedings and enforcement carried out against the bankrupt in order to satisfy the debts covered by the agreement, and the titles of the regulations or enforcement, which formed the basis for the conduct of such proceedings, they lose by law enforceable.

2. The Court shall issue an order stating that remission of foreclosures and loss of legal feasibility and security titles regulations and enforcement. Does not exclude the right of the parties to bring proceedings to establish that judicial enforcement and regulations devoid of have been.

3. The order of the Court shall be entitled to appeal.

Article. 296. [an extract from the list of claims enforcement] extract from the list of claims, including the listing of a final order approving the arrangement, is a writ of execution against the debtor and who has given security implementation of the agreement, if it was in the Court filed a document stating the grant of security. If the system provides for payments between creditors, is also a writ of execution against the principal to aid.

Article. 297. [order of execution of the agreement] 1. After the layout or to recover receivables identified court system at the request of the debtor, trustee or other person who is responsible for the implementation of the agreement, shall make an order for the execution of the agreement. On order of the Court in respect of the implementation of the agreement shall be entitled to appeal.

2. A final decision on execution of the agreement is the basis for the deletion of the Office posts about bankruptcy in the registers and records.

3. when the provisions of Decree declaring the execution of the agreement, the fallen recovers free wealth management and dispose of its components.



SECTION IV changing the layout of the Article. 298. [change the layout as a result of the extraordinary changes of economic relations] if, after approval of the agreement there has been a remarkable change of economic relations, which substantially affects the sustainable growth or reduction in the income of the company in bankruptcy, the bankrupt and every creditor may apply for change of layout.

Article. 299. [the proceedings on the revision of the agreement] 1. Order of the Court to initiate the procedure to amend the agreement is subject to the notice. In order to receive the complaint.

2. The proceedings shall apply mutatis mutandis the provisions of divisions I to III. The investigation leads the judge. There shall be a court supervisor or Manager.

Article. 300. [Creditors shall be entitled to participate in the meeting of creditors] 1. In a meeting of creditors participate the creditors, who have the right to participate in the meeting, on which the conclusion of the agreement. They vote with the sum of their claims, which voted for the Assembly, for which the conclusion of the agreement.

2. the Assembly may also attend those creditors whose claims were disputed, and that after the conclusion of the agreement have been established by a final court judgment or the final administrative decision.

3. In the Assembly do not have the right to participate the creditors whose claims have been entirely satisfied.

Article. 301. [Inadmissibility other layout changes] Other layout changes than those referred to in art. 298-300 are unacceptable.



Section V of the repeal of the layout of the Article. 302. [Repeal of non-performing its provisions by a fallen] 1. The Court at the request of the creditor or debtor or of a person who by virtue of the agreement shall be entitled to perform or supervise the performance of the agreement, repeals the layout, if the bankrupt does not execute the provisions of the agreement or it is clear that the arrangement will not be made.

2. Annul the agreement for reasons other than those referred to in paragraph 1. 1 is not acceptable.

3. The decision on revocation of the agreement shall be entitled to appeal.

Article. 303. [expedient proposals for amendment and waiver agreement] If before the request to change the layout of the application for annulment of the agreement, the Court recognizes both applications together.

Article. 304. [Revocation system] 1. Avoiding layout, the Court opens proceedings terminated and changes the way the conduct of the proceedings, with the possibility of the conclusion of the proceedings involving the liquidation of the assets of the bankrupt and establishes a referee and trustee or redeems.

2. opening the proceedings raises the same effects as a declaration of bankruptcy. In the proceedings may attend the creditors whose claims have arisen after the Declaration of bankruptcy.

Article. 305. [back to the State it was in before the conclusion of the] 1. Should the agreement taken bankruptcy proceedings existing creditors reach their claims in their original height; interest shall be calculated to the date when the provisions on revocation of the agreement. Paid on the basis of the agreement of the sum shall be set off against the asserted claims.

2. the provision of paragraph 1. 1 shall apply mutatis mutandis, if the claim was satisfied on the basis of the agreement in some other way.

3. Mortgage, Lien, a lien registered, tax lien and maritime mortgage securing debt in such extent that has not yet been satisfied.



Title VII of the liquidation of the estate SECTION I General provisions Art. 306. [inventory, a rating of the insolvency and winding-up plan] after bankruptcy involving liquidation of the assets of the bankrupt, the trustee shall forthwith proceed to inventory and assess the insolvency and liquidation plan drawn up. The receiver consists of a judge-Commissioner inventory along with winding-up plan within one month from the date of bankruptcy. No more than a plan should specify the proposed ways to sell the bankrupt's assets, in particular the sale of a business, the term sales, estimates of expenditure and economic justification for further business.

Article. 307. [the drawing up of financial statements on the day preceding the bankruptcy] 1. On the basis of the inventory and other documents of the fallen and the estimation of the trustee prepares financial statements on the day preceding the bankruptcy and immediately submit it to the judge-Commissioner.

2. If for any reason the administrator may not make inventory, estimate, a liquidation plan, or the financial statements within the period referred to in article 1. 306, consists of the judge-Commissioner, within one month from the date of the bankruptcy, the written report the General about the State of insolvency and of the possibility of satisfying the creditors. Submission of a report does not exempt the trustee from the obligation to draw up the documents referred to in paragraph 1. 1, as soon as possible.

Article. 308. [Liquidation in bankruptcy] once the inventory and financial statements or after the submission of the written report the overall insolvency administrator shall carry out the liquidation of the estate.

Article. 309. [realisation] the judge-Commissioner may suspend the liquidation in bankruptcy until the provisions of the Declaration of bankruptcy or resolve the request to change the provisions of bankruptcy involving liquidation of the assets of the bankrupt in the order of Declaration of insolvency with the possibility of the conclusion of the agreement.

Article. 310. [Sale of movable assets in order to meet the costs of the procedure] 1. Before the start of the liquidation in bankruptcy the trustee can sell of movable tangible property, if it is needed to meet the costs of the proceedings. In addition, the trustee can sell the movable property which are subject to deteriorate or as a result of a delay sales lose much value or which storage entails costs too high in relation to their value.

2. If the judge-Commissioner will withhold liquidation bankruptcy, the provision of paragraph 1. 1 shall be within the range specified by the judge-Commissioner.

Article. 311. [the conduct of liquidation] 1. The liquidation of the estate shall be made by the sale of the company in bankruptcy in whole or in part, organized the sale of real estate and movable property, by the recovery of receivables from debtors in bankruptcy and execution of other property rights forming part of the estate or their disposal.

2. In the cases referred to in the Act of disposal of movable weight-bearing liquidations and liquidations-bearing rights and claims or financial pledge may be also by acquisition by a creditor who is a zastawnikiem of the registered lien or pledge financial if the agreement on the establishment of the pledge provides for the satisfaction of the pledgee by the acquisition of the subject of pledge.

3. provisions for liquidation by sale of movables and the acquisition of movable property loaded liquidations shall apply mutatis mutandis to the sales and acquisitions by the creditor of the animals, where this is not contrary to the provisions on the protection of animals.


Article. 312. [continuation of companies fallen] 1. In the event of a bankruptcy involving liquidation of the assets of the bankrupt can continue the company bankrupt, if it is possible to conclude an arrangement with creditors or a possible sale of the company is bankrupt in whole or organized parts.

2. If the insolvency administrator leads the company bankrupt, should take all steps to ensure the behaviour of at least without deterioration at State.

Article. 313. [Sale in insolvency proceedings] 1. Sales made in bankruptcy proceedings has the effect of sales execution. Customer components of insolvency is not responsible for the tax liability of the fallen, also arising after the Declaration of bankruptcy.

2. the sale of the immovable property causes the termination of rights and personal rights and claims revealed by the entry in the land register or disclosed in this way, but reported to the judge-Commissioner within the time limit referred to in article 1. 51 paragraph 1. 1, paragraph 5. In place of the law, which expired, entitled acquires the right to satisfy the value of expired rights from the price obtained from the sale of the loaded property. This effect arises from the moment of conclusion of the contract of sale. The basis for the deletion of the rights that have expired as a result of the sale, is a final plan of allocation of the sum obtained from the sale of properties loaded. The basis for the deletion of the mortgage is a contract for the sale of real estate.

3. They shall remain in force without any deduction of their value from the purchase price of servitude road, easement of transmission and servitude established in connection with the crossing of the border by erecting buildings or other device. Use and rights (the annuitant) shall remain in force, if the priority over all mortgages or if the property is not mortgages charged or if the value of the use and rights (the annuitant) is full coverage in the purchase price. However, in the latter case, the value of these rights will be offset against the purchase price.

4. At the request of the owner of the property władnącej, requested the latest allegations to the scheme of distribution of the sum obtained from the sale of properties loaded, the referee may decide that the servitude of soil that is not full coverage in the purchase price, shall be maintained in force, if it is for real estate władnącej you'll need to, and does not reduce significantly the value of the property the biased. The referee shall have the complaint. If the request for an exemption requested was in the grounds, shall be resolved together with the allegations.

5. the provisions of paragraphs 1 and 2. 2-4 shall apply mutatis mutandis to the perpetual use rights sales, a cooperative ownership right to the premises and the ship entered in the ship register.

Article. 314. [the value of the component property of the business to be divested] 1. In the event of the disposal of the company, consisting of items subject to limited rights in kind, the value of the component property of heavily used those rights is subject to disclosure in the contract of sale, and the resulting rates shall be subject to any revenue sharing, taking into account article. 336 or 340.

2. the provision of paragraph 1. 1 shall apply mutatis mutandis in the event of disposal of the organized part of the enterprise.

Article. 315. [Disable things moving with the insolvency] if the estate includes movable, which cannot be disposed of with the behavior of the provisions of the Act, the bankruptcy judge may decide about their exclusion from the bankruptcy or allow their destruction. The referee shall have the complaint.



TITLE II sale of the company or its organised and real estate, the rights of usufruct, cooperative ownership right to the premises and the ship entered in the register book Article. 316. [divestiture] 1. The bankrupt company should be sold as a whole, unless this is not possible.

2. the sale of the company in bankruptcy may be preceded by a fixed-term lease contract with the right of first refusal if argue in favour of including economic considerations.

3. prior to the sale of a business public company bankruptcy trustee shall consult the Chairman of the financial supervision Commission as to the impact of the sale on the situation of the capital market and the interest of the national economy.

Article. 317. [Passage rights to the purchaser company] 1. To the purchaser of the undertaking bankrupt pass any concessions, permits, licenses and concessions that have been granted to the debtor, unless the law or the decision granting them provides otherwise.

2. The buyer may use the designation the company bankrupt, in which his name, only with the consent of the debtor. The buyer of the bankrupt company acquires it free from loads and is not responsible for the obligations of the debtor. Any load on the components of the companies expire, with the exception of loads mentioned in article 1. 313 paragraph. 3 and 4.

Article. 318. [Sale organized part of the Enterprise] 1. If the sale of the company in bankruptcy as a whole is not possible for economic or other reasons, you can sell structured part of the company.

2. the provision of paragraph 1. 1 shall apply mutatis mutandis to the collection of things or rights-laden liquidations that are part of the company. The sum obtained from the sale of such collection is subject to Division pursuant to the provisions of article 4. 336 or 340.

Article. 319. [a description and rating of the company] 1. The judge-Commissioner, at the request of the trustee, prior to the sale of a business shall appoint an expert to draw up a description and assessment of the company and its organized part. You may, however, waive, if the description and estimate of the business or its organised part was made for making the inventory and assessment of the insolvency.

2. a description of the undertaking should specify, in particular, the subject of business, real estate included in its composition, their area and the identification of the land register or the collection of documents, other fixed assets, established law, and the load.

3. Evaluate you must separately provide the value of a business as a whole and its organized part, if they can be separated for sale.

4. If the Enterprise components that are subject to a mortgage, Lien, liquidations, tax lien, mortgage sea or other laws and the consequences of disclosure of rights and claims, in an estimate you must separately provide that such rights shall remain in force after the sale, as well as their value and the value of the components of them loaded and value of the individual components loaded into the value of the company.

5. the pleas in law on the description and rating of shall be filed within a week of the day the notice of their completion. Pleas in law recognizes the judge-Commissioner.

6. the provision of paragraph 1. 4 shall apply mutatis mutandis in the case of things, claims and other rights carried over to the creditor to secure the debt, if they are to be sold within the enterprise.

Article. 320. [the tender or auction] 1. Sale of regulated section of this follows by tender or auction, which shall apply mutatis mutandis the provisions of the Act of 23 April 1964 – Civil Code, except that: 1) the conditions for the tender or auction shall approve the judge-Commissioner;

2) tender or auction, you must notify by notice at least two weeks, and if the tender or auction company applies to a public company – at least six weeks before the date of the meeting designated to carry them out;

3) an invitation to tender or auction shall be carried out in open court;

4) an invitation to tender or auction leads the insolvency administrator under the supervision of the judge-Commissioner;

5) the selection of the Tenderer shall the trustee; selection requires approval by the judge-Commissioner;

6) the order approving the selection of the tenderer the judge-Commissioner may issue a private session;

7) judge-Commissioner may postpone the approval of the selection of the tenderer for a week; in this case, the decision on approval of the selection of the successful tenderer shall be subject to the notice.

2. The order of the judge-Commissioner to approve the selection of the Tenderer shall have the complaint.

3. On the sale of real estate, rights of usufruct, cooperative ownership right to the premises, and a ship entered in the register, the provisions of article 4. 319 shall apply mutatis mutandis.

Article. 321. [the conclusion of contract of sale of company] 1. The receiver contains the sales contract within the time specified by the judge-Commissioner, of not more than four months from the date of approval of the selection of the successful tenderer by the judge-Commissioner.

2. If the contract is not the fault of the tenderer, the bankruptcy judge shall make an order declaring a new tender or auction in which cannot participate the tenderer that has not entered into a contract.

Article. 322. [the designation of a new tender] If the tender or auction does not reach the effect or the judge-Commissioner did not approve the selection of the tenderer, the bankruptcy judge shall make an order for the appointment of a new tender or auction or permits the sale of free-hand within a prescribed period, specifying the minimum price and terms of sale.

Article. 323. [sale of free-hand] the Council of creditors may agree on sale with free hand to property to which the provisions of this section, while the determination of the conditions of disposal.


Article. 324. [Priority in the acquisition of the bankrupt companies] 1. If the creditors ' Committee has given its consent, referred to in article 1. 323, the company with the participation of more than half the employees of the bankrupt which is a commercial company with the participation of the State takes precedence in the acquisition of the bankrupt's enterprise or its organized part suitable for conducting business.

2. The insolvency administrator in the first place is composed of the offer to sell the company employee, referred to in paragraph 1. 1. SECTION III sale of chattels and acquisition by the pledgee of movable loaded liquidations Article. 325. [sale of chattels] where the provisions of this chapter provide otherwise, for the sale of movables shall apply mutatis mutandis the provisions of article 4. 320 – 322.

Article. 326. [sale of chattels with the free hand] 1. The judge-Commissioner may authorise the sale of chattels with the free hand, and may determine the terms and conditions of sale or specify a different mode of the purchaser's choice.

2. (repealed).

Article. 327. [satisfaction of the pledgee the subject of pledge] 1. The pledgee of the registered lien can meet with the subject of the pledge by its acquisition or disposal as specified in art. 24 of the Act of 6 December 1996, the lien register and the register of pledges (OJ of 2009 No 67, item. 569, no. 69, item 595 and No 215, poz. 1663) if the agreement for the establishment of a pledge provides a way to satisfy the pledgee.

2. If an item ordered liquidations is in the possession of the pledgee or a third party, the pledgee shall notify the satisfaction of the trustee. The judge-Commissioner may designate a pledgee appropriate appointment to meet with the subject of the pledge. If the pledgee does not exercised this right within the prescribed time limit, the person, who is to pay the liquidations, is required to issue a pawn to the trustee. After the transfer of the subject of pledge the trustee shall make its sale; the sum obtained from the sale shall be subject to any revenue sharing, taking into account article. 336 or 340.

3. In the cases referred to in paragraph 1. 2, the order of the referee to issue him the subject of a lien shall be enforced without giving him the enforcement clause.

Article. 328. [the term to take the subject of the lien on the property] 1. If the lien registered, from which the creditor may satisfy, is in the possession of the trustee, a creditor is entitled to take over the subject of ownership, the judge-Commissioner designates the term creditor to comply with this law, not less than one month; After the expiry of the pawn will be sold according to the provisions of the Act.

2. If an item ordered liquidations is in the possession of the trustee, (a) the agreement on the establishment of the pledge provides for the satisfaction of the pledgee as specified in art. 24 of the Act, referred to in article 1. 327 paragraph. 1, the trustee sells things according to the provisions of this Act.

Article. 329. [settlement of the pledgee of the receiver] in the cases referred to in article 1. 327 and 328, the pledgee shall be with the receiver pursuant to the provisions of the Act of 6 December 1996, the lien register and the register of pledges.

Article. 330. [sale item pledge along with company] 1. If the charged liquidations is a component of the enterprise bankruptcy and its sale, along with the company may be more favourable than the separate sale item lien provisions of article 18. 327. 328 does not apply.

2. In the case referred to in paragraph 1. 1, charged with a lien is sold together with the company. The sales price of the company extracts the value of the things loaded lien and shall be allocated to the satisfaction of the pledgee pursuant to art. 336 or 340.



SECTION IV the liquidation of debts and property rights Article. 331. [Download the claims in bankruptcy] 1. The liquidation of the bankrupt's claims by their recovery.

2. If the recovery of claims is still not claim either obstacles facing due, the liquidation of claims will occur by their disposal.

Article. 332. [Execution or disposal of property rights] removal of property rights the bankrupt by their execution or disposal.

Article. 333. [the liquidation of debts and property rights the bankrupt burdened liquidations] 1.Do liquidation of debts and property rights the bankrupt burdened liquidations shall apply mutatis mutandis the provisions of article 4. 327 – 330.

2. for the liquidation of debts and property rights the bankrupt burdened the financial pledge shall apply mutatis mutandis the provisions of article 4. 327-330 and the provisions of the law of 2 April 2004 on certain financial vulnerability.

Article. 334. [disposal of claims or property rights of the fallen] 1. In the case of the sale of debts or property rights in bankruptcy shall apply mutatis mutandis the provisions of article 4. 315, 320-322 and 326.

2. the Council of creditors can agree on another form of searching for a buyer, while the determination of the conditions of sale.

3. For sale by trustee securities as specified in article 4. 3 paragraphs 1 and 2. 1 of the Act of 29 July 2005 on public offer and the conditions of introduction of financial instruments to organised trading system and on public companies does not apply. 7 paragraph 1. 1 of this Act and articles. 19 paragraph. 1 point 2 of the Act of 29 July 2005 on trading in financial instruments.

4. Where the subject matter of a sale are financial instruments admitted to trading on a regulated market within the meaning of the Act of 29 July 2005 on trading in financial instruments, the judge-Commissioner may authorise their sale by the investment firm. In this case the judge-Commissioner may designate a stock exchange, or recommend to choose the stock exchange to the trustee and to set a minimum selling price.



Title VIII of the Division of proceeds from the sale proceeds and the things and rights-laden subject matter DIVISION I General provisions Art. 335. [Funds in bankruptcy] Funds in bankruptcy include the sum obtained from the liquidation of the estate and the income derived from carrying out or lease the company bankrupt, as well as interest on those amounts deposited in the Bank, unless the law provides otherwise.

Article. 336. [the sum obtained from the liquidation] 1. The sum obtained from the liquidation of things, claims and rights mortgaged, pledged, liquidations, tax lien and maritime mortgage shall be allocated to the satisfaction of the creditors whose claims are secured for these things or rights while maintaining the provisions of the Act. The amount remaining after satisfaction of the claims fall into the funds of the estate.

2. the provisions on settlement of claims secured by a lien shall apply mutatis mutandis to the satisfaction of claims secured by transfer to the creditor ownership of things, claims and other rights.

Article. 337. [the Division of funds in bankruptcy] 1. Allocation of funds shall be made once or several times as the liquidation in bankruptcy after approval by the judge-Commissioner a list of claims.

2. in the event of repeated Division of proceeds of the bankruptcy, the Division final after complete elimination of the insolvency administrator.

Article. 338. [the final allocation of proceeds of the bankruptcy] if insolvency proceedings are subject to satisfaction of the claim secured by mortgage, pledge, Lien, tax lien registration and mortgage, split the final proceeds of the bankruptcy shall be made after the distribution of the sum obtained from the sale of the object loaded.

Article. 339. [the Division totals obtained from the liquidation of] the procedure for dividing the sum obtained from the liquidation of things, claims and rights referred to in article 1. 336, shall apply mutatis mutandis the provisions of the proceedings on the allocation of the funds of the estate. To draw up the draft terms of Division shall be bankrupt and those persons whose rights are subject to the satisfaction of the sum obtained from the liquidation. An appeal may be brought by the fallen and those entitled to satisfy the sum obtained from the liquidation.

Article. 340. [Claims personal secured a limited right in rem] 1. Personal debt secured by mortgage, pledge, Lien registration, tax lien and maritime mortgage shall be in the plan allocation of funds of the bankrupt only in this total, in which they were not satisfied with the collateral.

2. the provision of paragraph 1. 1 shall apply mutatis mutandis to the claims that have been settled by the insurance company in the execution of the insurance contract concluded by the bankrupt.

Article. 341. [the claim of the creditor drop adopted after bankruptcy] the claim of the creditor drop adopted after the Declaration of bankruptcy, for which the weight of bankruptcy corresponds to, places in the allocation of funds in bankruptcy up to the amount of the value of the assets of the succession. If insolvency proceedings are investigated claims of two or more creditors, which together exceed the value of the assets of the succession claims of these places in the distribution of reduced relatively to the amount each of them.



SECTION II of the order of meeting of creditors Chapter 1 General provisions Article. 342. [the Division of duties on categories] 1. Receivables subject to satisfaction of the funds in bankruptcy is divided into the following categories:


1) the first category – costs of insolvency proceedings, payable for the time after the announcement of the bankruptcy of a maintenance allowance and the pension for causing the disease, inability to work, disability or death, and for the conversion of the powers covered by the content of the right to life imprisonment on a lifetime pension, claims arising from unjust enrichment the insolvency of the debtor before bankruptcy agreements whose implementation has requested the administrator, duties arising from actions the trustee or liquidator and claims that arose from the actions of the fallen made after the bankruptcy, that do not require the consent of the supervisor, or made with his consent;

2) category second-per for the time before the bankruptcy claims, claims farmers for agreements on the delivery of the products from our own farm, a maintenance allowance and the pension for causing the disease, inability to work, disability, or death and invalidity pension to replace the powers covered by the content of the right to life imprisonment on a lifetime pension payable for the last two years before filing for bankruptcy social insurance contributions receivable , together with interest and the costs of enforcement;

3) category-taxes and other deductions and other receivables in respect of social security contributions, together with interest and the costs of enforcement;

4) fourth category – other receivables, if not subject to a meet in the fifth category, together with interest for the last year before the date of bankruptcy, compensation costs, contractual process and enforcement;

5) category five-the interest, which do not belong to the higher category in the order in which they shall be subject to the satisfaction of the capital, as well as judicial and administrative fines and claims arising from donations and bequests.

2. A claim acquired by way of transfer or endorser after the bankruptcy, subject to satisfaction of the third category, if not subject to satisfaction of the fourth category. This does not apply to claims arising as a result of the steps the trustee or the trustee or the bankrupt operations undertaken with the consent of the supervisor.

3. the provisions relating to satisfy claims from employment shall apply mutatis mutandis to the claims of the Fund of guaranteed employee benefits reimbursement of the insolvency benefit paid by the Fund staff.

4. (repealed).

Article. 343. [to satisfy the claims of the first category] 1. The trustee meets the duties of first category as the impact to the insolvency of the relevant sum; If these claims are not settled in this way, meets them by means of the Division of the funds of the estate.

2. maintenance obligations on the fallen, payable for the time after the bankruptcy, the trustee meets in accordance with paragraph 1. 1 within the time limits of their payment to the date of the final distribution plan, once for each authorized in an amount of not more than the minimum salary. The remainder of these duties is not subject to the satisfaction of the insolvency administrator.

Article. 344. [rules and order the settlement of claims] if the total amount distributed is not sufficient to meet in full all dues, charges further category caters to only after satisfaction of claims in its entirety of the preceding categories, and where the estate is not sufficient to meet in full all claims of the same category, such royalties meets relatively to the amount each of them.



Chapter 2 Order of repaying the debts secured by mortgage, pledge, Lien, mortgage and tax liquidations sea Article. 345. [order and rules for the settlement of claims] 1. If special provision provides otherwise, the debts secured by mortgage, pledge, Lien, tax lien registration and mortgage, as well as the expiring according to the provisions of the act right and the consequences of the disclosure of the rights and claims of personal obligations on the property, use or usufruct, cooperative ownership right to a maritime vessel or entered in a register book, subject to satisfaction of the sum obtained from the liquidation of a heavily loaded subject, less costs of winding up this item and other costs of insolvency proceedings in the amount not exceeding the tenth part of the sum obtained from the liquidation of the , but not more than the part of the costs of the insolvency proceedings, that derives from the value laden item to your estate.

2. claims and rights referred to in paragraph 1. 1, are met in the order of their priority.

3. Equally with the debt meets the side benefits claims under rules collateralised. Per the creditor the sum includes first of all the main duty, then the interest and other claims for benefits, except that the costs of the proceedings shall be taken into account in the final order.

Article. 346. [priority to satisfy claims] 1. In the event of a sale of real estate, rights of usufruct, cooperative ownership right to the premises or ship entered in the register, prior to the satisfaction of the claim secured by mortgage or mortgage and other rights, including the rights and claims, which has subsisted on the sale and that as a result of the sale of expired, caters to a maintenance allowance to the extent indicated in the article. 343 paragraph 1. 2 and payable for the time after the Declaration of bankruptcy the pension for causing the disease, inability to work, disability, or death and invalidity pension to replace the powers covered by the content of the right to life imprisonment on a lifetime pension, as well as remuneration for work on real estate workers, ship or in the premises for the last three months prior to the sale, however, only up to the amount of three minimum wages.

2. Separate the draft terms of Division shall not be drawn up, if the total amount obtained from the sale is not sufficient to satisfy the claims for child support, rent and salaries for the work referred to in paragraph 1. 1. SECTION III of the proceedings on the allocation of funds in bankruptcy Chapter 1 determination of the scheme of distribution Article. 347. [Plan of allocation of funds in bankruptcy] 1. The trustee shall establish and consists of the judge-Commissioner plan allocation of funds in bankruptcy, in which: 1) specifies the sum of being divided;

2) lists of claims and the rights of persons involved in the Division;

3) specifies the sum of what each of the participants is from the Division;

4) indicates that the sum to be paid, and that and for what reasons are to be left in the judicial deposit;

5) determines whether the distribution list is partial or final.

2. The judge-Commissioner can make to the plan amendment or instruct make indicated changes in the plan.

Article. 348. [a separate plan to split proceeds from the sale of goods or rights in rem law limited weight-bearing] 1. In cases where creditors are entitled to the rights disposed of things or rights referred to in article 1. 345 and 346, the liquidator shall draw up a separate plan to split proceeds from the sold goods or rights. To this plan shall apply mutatis mutandis provision art. 347.2. In the plan split the sum obtained from the sale of real estate, the insolvency administrator exchanges in addition to the rights and personal rights and claims that as a result of the sale of real estate have expired.

Article. 349. [notice of time share split plan to inspect] the judge-Commissioner shall notify the fallen and the members of the Council of creditors and Announces by notice and advertisement in the Gazette and economic, that the draft terms of Division can be viewed in the registry of the Court and within two weeks from the date of the notice to bring charges against the plan of the Division.

Article. 350. [Complaints against the plan Division] 1. The allegations against the plan Division recognizes the judge-Commissioner.

2. If necessary, the judge-Commissioner will listen to people whose rights relate to the allegations.

3. The referee shall have the complaint.

Article. 351. [approval of the draft terms of Division] 1. If the allegation was not, the judge-Commissioner shall approve the draft terms of Division.

2. in the event of bringing charges, correction and approval of the draft terms of Division after extending the provisions of the referee in the allegations and, if his appeal-after the release of the court order.



Chapter 2 Execution scheme of distribution Article. 352. [deadline for implementation of the plan of Division] 1. Draft terms of Division shall be performed immediately after its approval. Execution scheme of distribution may not, however, be repaid to the provisions of the Declaration of bankruptcy.

2. in the event of bringing charges against the plan of Division or complaints on the order of the allegations, the plan performs in these parts, which do not apply to requests filed charges or complaint. In this case, the scope of the implementation of the plan specifies the judge-Commissioner.

Article. 353. [Service into the hands of the creditor or transfer the amount to the bank account] by following the plan of allocation, the trustee appears to him due to the creditor the amount or poured it into the bank account of the creditor.


Article. 354. [Input fallen in eurofaktor creditor] 1. In case of satisfaction of the creditor claims personal bankruptcy, secured on the property of the bankrupt by mortgage or mortgage, before the sale of the subject of the laden, creditor's right enters the fallen. A corresponding entry shall be made in the land register or in the registry book.

2. The basis for the entry is an excerpt from the Division of proceeds of the bankruptcy clerk authenticated by.

Article. 355. [satisfaction of claims secured by a surety] 1. The sum of the children's section to meet the debt, for which poręczyła the third party, it seems to the creditor in the amount due to him at the date of the draft terms of Division, guarantor and to the amount of the payment made.

2. The sum of the children's section for the satisfaction of claims for which the debtor shall be liable jointly and severally, or in total, with a third party, it seems to the creditor in the amount due to him at the date of the plan, współdłużnikowi and in the amount of the payment.

Article. 356. [addressing the conditional claims] 1. The sum of the children's section to satisfy the debt, the amount of which depends on the terminating condition, it seems to the creditor, unless the obligation to secure the creditor under an existing between it and a fallen legal relationship.

2. The sum of the children's section to satisfy the claims, which payment depends on a suspensory condition, it seems to the creditor, if he proves that the condition is true; otherwise, the sum of this consists of the deposit.

3. The sum of the children's section to satisfy the claims of niewymagalnej consists of the deposit.

Article. 357. (repealed).

Article. 358. [Assembly provide for the satisfaction of claims for the judicial deposit] if the creditor does not receive your claims within one month or when he owed the sum cannot be released because of acknowledged improper address or provide bank account, total due ago creditor consists of legal deposit.

Article. 359. [Rule in cases of submission to a judicial deposit] in cases of filing a judicial deposit rules the judge-Commissioner.

Article. 360. [Edition retentions of the fallen] After the closure or termination of insolvency proceedings the sum retained in escrow, unless something else is indicated in the plan of Division, seems to have fallen on his request.



Title IX Termination and cancellation of the insolvency proceedings and their effects of the Art. 361. [the conditions for remission of insolvency proceedings] 1. The Court will dismiss the bankruptcy, if: 1) assets remaining after the exclusion of the debtor's assets mortgaged, pledged, liquidations, tax lien or mortgage sea is not sufficient to meet the costs of the proceedings;

2) creditors required by resolution of the creditors or by order of the referee not made within the prescribed period of the advance on costs of proceedings, and there is no liquid funds on those costs;

3) all the creditors who filed their claims, the request does not proceed.

2. [5] in the case of redemption of the insolvency proceedings because, as referred to in paragraph 1. 1 paragraph 1, the Court shall determine whether the material gathered on gives rise to solutions entity entered into the national court register without liquidation proceedings.

Article. 362. [the advertisement and delivery provisions of the closure of insolvency proceedings] decision on the closure of the insolvency proceedings shall be published by notice in the Gazette and the economic in the official local and shall be served on the debtor, the trustee, the Court supervisor or Manager and the members of the creditors ' Committee.

Article. 363. [deletion of entries concerning insolvency in the land register and the registers] the final decision on the closure of the insolvency proceedings is the basis for the deletion of posts about bankruptcy in the land register and the registers.

Article. 364. [recovery of the right asset management by a fallen] 1. On the day when the provisions of the closure of insolvency proceedings the fallen recovers the right to manage his assets and dispose of its components.

2. The trustee, judicial trustee or supervisor will immediately fallen his property, books, correspondence, and documents. If necessary, the judge-Commissioner, issued the order requiring the compulsory withdrawal of the assets. This is the basis for execution without giving him the enforcement clause.

Article. 365. [Putting the books and documents for safekeeping] 1. If the bankrupt does not receive the books, correspondence or documents within the time limit fixed by the judicial administrator, trustee or trustee, the bankruptcy trustee, judicial trustee or overseer has them for safekeeping at the expense of the debtor.

2. The judge-Commissioner orders from bankrupt to the custodian cost store. The referee shall have the complaint.

3. In the event of the bankruptcy of the legal person and the person trading company the judge-Commissioner determines whether the cost of storage shall be borne by one or all of the persons authorised to represent the legal person.

4. If putting on the storage of books, correspondence or documents will prove to be impossible, they shall be subject to submission to the appropriate archive together with the acts of insolvency proceedings at the expense of the debtor.

Article. 366. [Liquidation missed by the bankrupt property] 1. If the bankrupt does not receive his assets within the time limit fixed by the judicial administrator, trustee or receiver, the judge-Commissioner manages the liquidation of property and determines how the liquidation.

2. If the liquidation of the estate in the manner prescribed by the judge-Commissioner proves to be impossible or excessively difficult, the judge-Commissioner may order the liquidation at the expense of the fallen by passing assets for charity or otherwise.

3. The order of the judge-Commissioner of the costs relating to the winding-up shall be entitled to appeal.

Article. 367. [Remission process for ineffective steps made by the bankrupt to the detriment of creditors] 1. After the closure of the insolvency proceedings shall discontinue the brought by the trustee, the judicial administrator or an incomplete processes for recognition for ineffective steps made by the bankrupt to the detriment of the creditors. The mutual claims for refund process shall expire.

2. In other civil proceedings fallen enters the proceedings in place of a liquidator or a trustee.

Article. 368. [Declare termination of insolvency proceedings] 1. In cases where the insolvency proceedings covered the liquidation of assets, the Court after the final split plan determines the termination of the insolvency proceedings.

2. The Court considers proceedings also when in the course of insolvency proceedings involving the liquidation of the assets of the bankrupt all creditors have been satisfied.

3. The provisions of article 4. 362 – 367 shall apply mutatis mutandis.

Article. 369. [the remission, in whole or in part, unmet obligations of the fallen] 1. In the order of the completion of the bankruptcy proceedings involving the liquidation of the assets of the debtor, which is a natural person, the Court, at the request of the debtor, may decide to discontinue in whole or in part, the obligations of the bankrupt that has not been met in the insolvency proceedings, if: 1) the insolvency was the consequence of the exceptional and beyond the control of the bankrupt's circumstances;

2) material collected on gives rise to the conclusion that there are no circumstances which led to the deprivation of the bankrupt laws doing business on their own account, and act as a representative or agent of the company commercial, State enterprise, cooperative, Foundation or association;

3) fallen fairly performed the duties imposed on him in bankruptcy proceedings.

2. Redemption are subject to the claims included in the list of claims and the claims that may be filed, if their existence was established papers in bankruptcy.

3. Are not redeemable a maintenance allowance, invalidity pension compensation for causing the disease, inability to work, disability or death, claims from employment and contributions to pension insurance, pensions and sick leave employees.

Article. 370. [Rule on redemption] 1. By deciding to discontinue all or part of the obligations of the bankrupt the Court takes into account the earning potential of the fallen, the amount of outstanding claims and the reality of their meet in the future.

2. The order of the Court shall be entitled to appeal, and on order of the Court of second instance shall be entitled to appeal.

3. The provisions of article 4. 369 para. 1 shall not apply if already to fallen announced bankruptcy or insolvency proceedings was refused due to lack of assets sufficient to cover the costs of the proceedings, and since the end of the proceedings or the refusal to initiate the present bankruptcy proceedings within ten years.

Article. 371. [Repeal of insolvency proceedings] proceedings shall be subject to revocation in the event of a final rejection or dismissal of request for a declaration of bankruptcy. The provisions of article 4. 362 – 367 shall apply mutatis mutandis.


Article. 372. [the effectiveness of changes in legal relations after the withdrawal or termination of insolvency proceedings] 1. Changes to the legal relationships based on the provisions of the Act apply to the bankrupt and the other party after the withdrawal or termination of the insolvency proceedings, unless a separate Act provide otherwise.

2. the provision of paragraph 1. 1 shall apply mutatis mutandis if the repeal of the insolvency proceedings, except that: 1) the bankrupt may revoke the termination of contracts made by the liquidator or administrator, if no notice period has elapsed;

2) bankrupt may, within one month from the date of the notice or service of the order, which repealed the proceedings – to withdraw from contracts entered into by the trustee or the administrator, if the contract concluded by them has not been performed or has been performed.



Title X jurisdiction procedure prohibit doing business Article. 373. [deprivation of the right of establishment] 1. The Court may order deprivation for a period of from three to ten years of the right to conduct business on their own account, and as a member of the Supervisory Board, representative or agent of the company commercial, State enterprise, cooperative, association or Foundation, of a person who by their fault: 1) when required to do so by law, not filed within two weeks of the date of the creation of the basis for the Declaration of bankruptcy bankruptcy petition or 2) after the Declaration of bankruptcy has not, or has not identified the estate , accounts, correspondence or other documents of the fallen, which issue or indicate was required by law, or 3) after the Declaration of bankruptcy, or destroying property charge she was included in the bankruptcy, or 4) as the fallen in the course of insolvency proceedings is not performed other duties incumbent on it under this Act or decision of a court or judge-Commissioner, or otherwise impede the investigation.

2. when deciding the prohibition referred to in paragraph 1. 1, the Court shall take into account the degree of fault and the consequences of action taken, in particular, the reduction of the economic value of the bankrupt companies and the size of the harm to the creditors. The Court may waive the rule, if the bankruptcy court dismissed the application for a declaration of bankruptcy on the basis of article. 12 and has allowed the initiation of reorganisation proceedings.

3. the Court may order deprivation for a period of from three to ten years of the right to conduct business on their own account, and as a member of the Supervisory Board, representative or agent of the company commercial, State enterprise, cooperative, Foundation or Association of persons to whom: 1), at least once it was announced bankruptcy, with redemption its debts after the insolvency proceedings;

2) declared bankruptcy less than five years before filing for bankruptcy.

Article. 374. [Prohibition of establishment by a debtor who is a natural person] 1. The Court may order a prohibition of establishment referred to in article 2. 373, to a debtor who is a natural person, also if the debtor insolvency is a consequence of its intentional act or gross negligence.

2. the provision of paragraph 1. 1 shall apply to persons entitled to represent the entrepreneur who is a legal person or commercial company without legal personality, if insolvency of entrepreneur or a deterioration in its financial situation is the consequence of an intentional act or gross negligence of such persons.

Article. 375. [jurisdiction of the Court in matters of prohibition of business] 1. In the cases referred to in article 1. 373 and 374, the bankruptcy court rules.

2. If the insolvency proceedings shall not have been opened or have been dismissed the application for a declaration of bankruptcy or insolvency proceedings were discontinued, the court competent to hear the case of bankruptcy.

Article. 376. [procedure in case of a decision the prohibition] 1. Proceedings in the cases referred to in article 1. 373 and 374, shall be initiated only at the request of the creditor, the provisional supervisor, administrator, trustee or supervisor, the forced liquidators, as well as the President of the Office for competition and consumer protection and the Chairman of the financial supervision Commission. The expiry of the temporary functions in the course of the proceedings the overseer, trustee, trustee or supervisor, the forced liquidators has no influence on the further course of the proceedings, at his request. In these matters the provisions of non-contentious business.

2. The Court shall make an order after the hearing.

3. the provisions of the Court of second instance shall be entitled to appeal.

4. A copy of the final order the Court shall send to the national court register.

Article. 377. [Limitation rule] is Not the prohibition referred to in article 2. 373, if the proceedings in this case was not brought within one year from the date of redemption or termination of insolvency proceedings or dismissal of bankruptcy petition pursuant to art. 13 and when the application for a declaration of bankruptcy was not filed within three years from the date on which the debtor was such a request.



The SECOND PART of the PROVISIONS of INTERNATIONAL INSOLVENCY PROCEEDINGS Title I General provisions Art. 378. [the primacy of international agreements] 1. The provisions of this section shall not apply if an international agreement to which the Republic of Poland is a party to, or the right of an international organization of which the Republic of Poland is a member, provides otherwise.

2. (repealed).

Article. 379. [Definitions] whenever the provisions of this part of the speech is about: 1) "foreign proceedings" means any judicial or administrative proceedings abroad carried out, which is a common redress, even if they are temporary in nature, against niewypłacalnemu the debtor, where the property and Affairs of the debtor are subject to control or to the Board of the foreign court to their restructuring or liquidation;

2) "foreign main insolvency proceedings" means a proceeding referred to in paragraph 1, if it is carried out in the State in which the main economic activity of the debtor; It is presumed that the main business of the debtor is located in the place of its registered office or residence;

3) "by-product of the foreign insolvency proceedings" means a proceeding referred to in paragraph 1, if it is not and if it is carried out in the Member State of establishment of the debtor;

4) "foreign administrator" means a person or entity designated for foreign insolvency proceedings to management, reorganize or liquidate the debtor's assets;

5) "foreign court" means a court or other authority entitled to carry out or supervise the foreign insolvency proceedings;

6) "place of business" means the place where the debtor shall take steps in terms of business, if you are not a one-time or short-term.

Article. 380. [Rights of the creditor residing abroad] 1. A creditor residing abroad or established abroad uses in the insolvency proceedings of the rights which the creditor is entitled to the national, subject to paragraph 2. 2 and 3.

2. A creditor residing abroad or established abroad, if not established in the Republic of Poland, the Prosecutor is obliged to establish within the Russian Federation representative for service.

3. In proceedings conducted in the Republic of Poland shall not be subject to the satisfaction of the tax receivables and other weights public and social security entitlements and the penalties to property, which are not of the nature of civil law, ordered by the courts or administrative authorities abroad.

4. where the main economic activity of the debtor is located beyond the borders of the Republic of Poland, the insolvency proceedings initiated by the Polish court includes the debtor's assets located in the territory of the Republic of Poland.

Article. 381. [the correct application of the provisions of Ccp] In the case of matters not regulated by the provisions of this part shall apply mutatis mutandis the provisions of the code of civil procedure concerning the international civil procedure.



Title II jurisdiction of National Art. 382. [exclusive jurisdiction of the courts of Polish] 1. To the exclusive jurisdiction of the courts of Polish include bankruptcies, if in the Republic of Poland is the main economic activity of the debtor.

2. Polish Courts have also jurisdiction, if the debtor operates in the Republic of Poland a business or is domiciled or resident or property.

Article. 383. [exclusion of application of the agreements on jurisdiction] in insolvency matters shall not apply to the provisions relating to contracts for the jurisdiction.

Article. 384. [establishment by a foreign court of foreign managers] the establishment by a foreign court of foreign managers to act in the Republic of Poland does not exclude the jurisdiction of the national courts of the Polish.



Title III recognition of foreign insolvency proceedings


Article. 385. [the proceedings concerning the recognition of foreign insolvency proceedings] proceedings concerning the recognition of foreign insolvency proceedings and the repeal or amendment of a decision on the recognition of such proceedings, in cases not provided for in the provisions of this title shall apply mutatis mutandis the provisions of title II of part one.

Article. 386. [request for initiation of the recognition of foreign insolvency proceedings] 1. The investigation on recognition of foreign insolvency proceedings shall be initiated at the request of the foreign managers.

2. the application for recognition shall be accompanied by: 1) a copy of the judgment or the decision to initiate a foreign insolvency proceedings and the establishment of a trustee or 2) the certificate of a foreign court confirming the proceedings and the appointment of a foreign Manager.

3. in the event of the absence of the documentation referred to in paragraph 1. 2 the application must be accompanied by other reliable written evidence to initiate the foreign proceedings and the appointment of a foreign Manager.

4. The application shall be accompanied by a statement of the foreign managers also about other foreign proceedings led to the fallen, that are known to foreign managers.

5. To documents or written evidence, referred to in paragraph 1. 2-4, you must also attach their authenticated translation into Polish.

Article. 387. [the Parties] the parties concerning the recognition of foreign insolvency proceedings are bankrupt and the trustee.

Article. 388. [notice of the participants of the meeting] Notification of the participants of the first meeting of the Court can be made via a postal operator within the meaning of the Act of 23 November 2012.-postal law by registered post with acknowledgement of receipt, respectively, or return receipt.

Article. 389. [information obligations of foreign managers] upon payment of the application for recognition of a foreign insolvency proceedings, the foreign Manager is obliged to immediately inform the Court: 1) of any change of recognized foreign proceedings and amending the insolvency administrator;

2) of any other foreign bankruptcy proceedings concerning bankruptcy or other judicial or administrative proceedings concerning the assets of the debtor that are known to foreign managers.

Article. 390. [Security] 1. From the date of filing of the application for recognition of a foreign insolvency proceedings the Court at the request of the foreign managers can: 1) spend a freezing order;

2) secure the evidence needed for the investigation of claims against the bankrupt.

2. The Court may refuse to issue the freezing order, if it would impede the bankrupt's asset management in the main foreign insolvency proceedings.

Article. 391. [waiver of evidence] 1. If the documents submitted show that the foreign proceedings is the main insolvency proceedings, and the trustee is appointed manager of foreign, the Court may accept the presumption of conformity of documents with the real state of things and not lead further evidence.

2. In case of doubt, the Court may require authentication of the documents or official credentials of the authenticity of the signature.

Article. 392. [conditions for the recognition of foreign insolvency proceedings] Foreign insolvency proceedings shall be recognised if: 1) concerns a matter that does not belong to the exclusive jurisdiction of the courts of Polish;

2) recognition is not contrary to the fundamental principles of the legal order in the Republic of Poland.

Article. 393. [content of the provisions on] 1. In the order of recognition of foreign insolvency proceedings shall be: 1) first and last name or company of the fallen and the place of residence or registered office of the fallen;

2) the foreign court, which declared bankruptcy;

3) foreign Manager by indicating his name and surname or company and the place of residence or seat;

4) are considered as proceedings is the main or side effect.

2. in its order of recognition of the foreign insolvency proceedings calls for creditors of the bankrupt to report claims, pointing to the term for lodging claims and address where claims should be reported, as well as the necessary data to be provided in the notification, and the language of the Declaration.

Article. 394. [discretion] 1. If the provisions of the Act does not provide otherwise, the recognition of a foreign insolvency proceedings includes the recognition given in the decisions relating to the appointment, revocation and amendment of foreign managers, as well as decisions on the course of the foreign insolvency proceedings, suspension and termination.

2. Enforcement against the bankrupt on the basis of foreign enforcement orders enforceable in the State in which they were issued in a recognized foreign insolvency proceedings, including on the basis of a list of claims or other similar documents, as well as enforcement on the basis of the provisions of the agreement concluded in a recognized foreign insolvency proceedings, as well as enforcement based on extracts, copies and other similar documents issued on the basis of the agreement contained in the recognized insolvency proceedings may be carried out after the discovery of their enforceability by the Court recognizing the foreign insolvency proceedings.

3. the Declaration of enforceability shall be effected by a declaration of enforceability at the request of the creditor. To establish the existence of the basics of the enforceability of the provision of article. 392 shall apply mutatis mutandis.

Article. 395. [Revision or repeal of a decision on recognition of] 1. The decision on recognition of foreign insolvency proceedings may be amended or repealed at any time in the event of later detected that there was no reason for its recognition or those grounds have ceased to exist.

2. the repeal or amendment of a decision on recognition of foreign insolvency proceedings may be initiated at the request of anyone who may be affected by recognition, as well as with the Office.

Article. 396. [specify a range of changes in the order of the Court] 1. In order to change the decision on recognition of foreign insolvency proceedings the Court shall determine the scope of the amendments and, in particular, the terms of reference of foreign managers.

2. If a custodial trustee of a foreign law to the conduct of civil proceedings, initiated by him of the proceedings shall be cancelled, unless the Court decides that these proceedings may join another foreign Manager or the trustee or administrator shall set up in insolvency proceedings. This provision shall apply mutatis mutandis to interventions reported by foreign Manager side.

Article. 397. [effects of recognition of a foreign insolvency proceedings] 1. On the recognition of foreign insolvency proceedings under the law: 1) are subject to suspension of legal proceedings concerning the assets of the bankrupt and the enforcement proceedings conducted to his estate; the provisions of article 4. 144-146 shall apply mutatis mutandis;

2) bankrupt loses the right to administer and dispose of their property, unless proceedings have been initiated for the possibility of concluding the agreement and left him.

2. the provision of paragraph 1. 1 does not, however, exclude the possibility of bringing action against the bankrupt, if this is necessary to preserve the rights of third parties.

Article. 398. [the right of creditors to request the opening of insolvency proceedings in Poland] Recipe article. 397 does not limit the rights of creditors to request the opening of insolvency proceedings in the Republic of Poland and to the lodging of claims in such proceedings.

Article. 399. [secure evidence and assets of fallen] on the recognition of foreign insolvency proceedings, both the main and side, the Court at the request of the foreign managers can secure evidence, and also will release a freezing order of the assets of the bankrupt, if you have not been issued.

Article. 400. [the participation of foreign managers in the legal proceedings] 1. After recognition of a foreign insolvency proceedings, the foreign Manager may occur with incidental intervention in processes, in which the bankrupt is a party.

2. After recognition of a foreign insolvency proceedings, the foreign Manager has the right to bring an action to determine the invalidity or annulment of the legal acts of the fallen made contrary to the law or the principles of community or intended to circumvent the law. You may also bring an action for recognition of ineffective legal acts detrimental to creditors.

3. If a foreign Manager was established in the by-product of the insolvency proceedings, the permission referred to in paragraph 1. 1, is only in relation to the property covered by this proceeding.


Article. 401. [to draw up an inventory, assessment, and plan for the liquidation of assets of the fallen] 1. After recognition of a foreign insolvency proceedings, the foreign manager shall draw up an inventory and estimate, which includes entering the weight of the bankrupt which is located on the territory of the Republic of Poland. Inventory along with the estimate of the foreign Manager consists of the Court recognising foreign proceedings within four months from the date when the provisions of the bankruptcy. Of the inventory and assessment must be made of the notice. Requests for exemption from the insolvency court recognizes declaring foreign proceedings. The deadline for filing such applications is one month from the date of the notice.

2. After the completion of the inventory and estimate the foreign Manager consists of recognising a foreign proceeding the Court plan the liquidation of assets in the Republic of Poland and the General information on the anticipated how to satisfy creditors, including residing or established in the Republic of Poland. On this basis, the court order will issue foreign managers permission to the liquidation of the assets of the debtor located in the territory of the Republic of Poland. Order of the Court, it seems not earlier than after the expiry of the deadline, which can claim exemption from the estate. In order to refuse an authorisation shall be entitled to appeal.

3. The authorisation referred to in paragraph 1. 2, does not include property, of which the proceedings are taking place about the exclusion from the bankruptcy. A foreign Manager is entitled to liquidate the property only after final judgment dismissing an action for the exclusion from the bankruptcy or after the closure of the proceedings in this case, and when this action was not, after the expiry of the period in which such an action, the applicant can bring.

4. To determine the composition of the insolvency assets, inventory and assessment, exemptions from bankruptcy, the Board of the mass property located in the Republic of Poland and the liquidation of the estate shall apply the provisions of this Act. The Court recognizing the foreign insolvency proceedings may allow the liquidation of the bankrupt otherwise, if this is without prejudice to the fundamental principles of the legal order in the Republic of Poland.

Article. 402. [the right to submit an application for a declaration of bankruptcy in Polish court] After recognition of a foreign insolvency proceedings, the foreign Manager is entitled to submit an application for a declaration of bankruptcy, and to participate in the proceedings conducted by the Polish courts, as the creditor.

Article. 403. [the legal effects of the Declaration of bankruptcy by Polish law] 1. If the recognition of foreign insolvency proceedings, the effects of insolvency for assets of the bankrupt situated in the Republic of Poland and the obligations that have arisen or are to be carried out in the Republic of Poland, according to Polish law.

2. the Ineffectiveness and lodging appeals against the actions of the fallen, about appearing in the Republic of Poland, the components of property included in the estate, according to Polish law.

Article. 404. [satisfaction of claims secured by restricted rights in kind] satisfaction of claims secured by restricted rights in kind on the things that are in the Republic of Poland or entered into land registry and registers in the Republic of Poland, the Polish law.



Title IV secondary insolvency proceedings Art. 405. [secondary insolvency proceedings] 1. Recognition of a foreign insolvency proceedings shall not constitute an obstacle to the initiation by the Polish court of insolvency proceedings. If, however, has been the main foreign insolvency proceedings, the insolvency proceedings initiated in the Republic of Poland is a secondary insolvency proceedings.

2. The procedure referred to in paragraph 1. 1, the provisions of this title.

3. If the side was foreign insolvency proceedings, the insolvency proceedings in the Republic of Poland takes place on general principles.

Article. 406. [the application of the provisions of the secondary proceedings] 1. The provisions of the secondary proceedings shall also apply to proceedings commenced before the recognition of the foreign insolvency proceedings, if the Court considers the Polish foreign insolvency proceedings for the main.

2. In the case referred to in paragraph 1. 1, the Court changes the previously released a decision on the Declaration of bankruptcy on the order of initiation of secondary insolvency proceedings.

Article. 407. [proceedings] 1. The Court shall be initiated by the secondary insolvency proceedings, if it asks for a creditor domiciled or resident in the Republic of Poland.

2. Secondary insolvency proceedings may be initiated ex officio, if required by the interests of the resident in the Republic of Poland of creditors from labor relations and creditors, the amount of compensation for causing the disease, inability to work, disability, or death, as well as maintenance creditors.

Article. 408. [presumption of insolvency of the debtor] if the foreign main insolvency proceedings, it shall be presumed that the debtor is insolvent.

Article. 409. [Revision or repeal of the established security] in the case of an application for the initiation of secondary insolvency proceedings the Court may derogate from or vary the security established on the basis of the article. 390 or 399.

Article. 410. [taking over the Board of the assets of the bankrupt by the trustee] If the opening of secondary proceedings after recognition of a foreign insolvency proceedings: 1) the Management Board of the assets of the debtor located in the Republic of Poland executed so far by a foreign Manager takes over the insolvency administrator or the administrator established in the secondary proceedings;

2) the trustee or administrator shall enter into the judicial and Administrative Affairs carried out by the administrator.

Article. 411. [the liquidation of the bankrupt in the course of secondary insolvency proceedings] if the secondary insolvency proceedings was initiated with the possibility of the conclusion of the agreement, and in the foreign main insolvency proceedings is to be winding up the bankrupt, the system can have no more than a nature only.

Article. 412. [transfer of remaining after satisfaction of the creditors of the sum to the main foreign insolvency proceedings] the sum obtained from the distribution of the funds of the bankrupt remaining after satisfaction of the creditors in the secondary proceedings shall be transmitted to the foreign main insolvency proceedings.



Title V of the cooperation with foreign courts and foreign managers Article. 413. [Direct communication of the courts] in matters governed by the provisions of this part of the Court and the judge-Commissioner may communicate directly with foreign courts and foreign Manager.

Article. 414. [Brokerage referee communication] the insolvency administrator, judicial supervisor or manager appointed in insolvency proceedings communicate with foreign courts and foreign Manager through the judge-Commissioner.

Article. 415. [cooperation with foreign courts and foreign] 1. In matters governed by the provisions of this part of the Court and the judge-Commissioner shall cooperate with foreign courts and foreign Manager.

2. If it was initiated in the Republic of Poland, the insolvency proceedings, the Court shall take the measures provided for in this title.

Article. 416. [Passing and returning information] in the framework of cooperation with foreign courts and foreign court and the judge-Commissioner may take actions that ensure the smooth conduct of the insolvency proceedings and, in particular, communicate and seek information: 1) concerning the assets of the bankrupt and his position, as well as information on judicial and administrative affairs of the bankrupt;

2) about how security and the liquidation of assets in bankruptcy;

3) responding to individual creditors.

Article. 417. [the recognition of two or more foreign insolvency proceedings] 1. If insolvency proceedings have been initiated in the Republic of Poland, and considered two or more foreign insolvency proceedings against the same debtor, the bankruptcy judge determines what the debtor has agreed it will be individual proceedings. The referee shall have the complaint.

2. If in the Republic of Poland was not initiated bankruptcy proceedings involving the property belonging to the entity to which they are carried out foreign insolvency proceedings, that provision referred to in paragraph 1. 1, the Court, which recognised the foreign insolvency proceedings. The provisions of the first part of title II shall apply mutatis mutandis.



PART THREE SEPARATE INSOLVENCY PROCEEDINGS title and bankruptcy proceedings initiated after the death of the insolvent debtor Article. 418. [filing for bankruptcy after the death of the debtor] if the application for a declaration of bankruptcy to the trader or the person referred to in art. 8 or article. 9, was filed after their death, insolvency proceedings shall be carried out according to the provisions of this title.


Article. 419. [the establishment of guardianship in the event of death of the debtor] 1. If in the proceedings shall not heir whose rights have been established by a final decision of the confirmation of purchase, or curator of the estate, the Court in its order of bankruptcy will establish the trustee to which the provision of article. 187. After the bankruptcy decision to appoint or change the guardian seems to the judge-Commissioner.

2. in the event of disposal of decline before the bankruptcy proceedings shall be conducted with the participation of the purchaser, to which the provisions of the fallen.

Article. 420. [the application of the provisions of the insolvency proceedings involving the liquidation of the assets of the bankrupt] in matters covered by the provisions of this title bankruptcy is carried out according to the provisions of the insolvency proceedings involving the liquidation of the assets of the bankrupt.

Article. 421. [the composition of the estate] To insolvency includes assets the estate of the deceased debtor.

Article. 422. [ineffectiveness of certain provisions of the testamentary] to establish an executor and records and commands are ineffective to insolvency.

Article. 423. [lodging appeals against the actions of a fallen to adverse effect on Weichert does the fallen] the provisions of art. 127-130 shall apply to a transaction aside, made six months before his death.

Article. 424. [the emergence of legal consequences associated with the adoption of the drop] in the event of bankruptcy in cases covered by the provisions of this title are the legal consequences associated with the adoption of the drop to arise after the insolvency proceedings.

Article. 425. [an extract from an approved list of debt enforcement against heirs] when you are finished or the closure of the insolvency proceedings extract from an approved list of claims, containing the designation of the claims and the amount on the payment received by the claimant, is a writ of execution against the heirs.



The title of the Ia insolvency proceedings against developers Article. 4251. [bankruptcy developer] the provisions of this title shall apply in the event of insolvency within the meaning of article Developer. 3 paragraph 1 of the law of September 16, 2011, on the protection of the rights of the purchaser dwelling or House (Journal of laws No. 232, poz. 1377), hereinafter referred to as "the purchaser Protection Act".

Article. 4252. [Separate mass bankruptcy] 1. In the case of bankruptcy the developer resources on housing trust accounts, the right of ownership or the right to use a perpetual property, on which the development project is carried out and charges to be paid by the purchasers pursuant to art. 4254 paragraph. 1 point 2, are a separate mass bankruptcy, which meet in the first place, the buyers of dwellings or single family homes, covered by the project.

2. the measures and the aid referred to in paragraph 1. 1, related to the implementation of individual development projects, respectively separate insolvency.

3. the property within the separate masses bankruptcy marks the judge-Commissioner.

Article. 4253. [exclusion of application of the provisions of the Act] To non-monetary obligations fallen relative to purchasers of dwellings or houses provision art. 91 paragraph 1. 2 do not apply, subject to article 22. 4254 paragraph. 5. Article. 4254. [the Assembly of buyers of dwellings or houses] 1. The Assembly of the purchasers of dwellings or houses (Assembly of buyers) take the resolution: 1) meet with the funds in the housing trust accounts, referred to in the Act on the protection of the purchaser, or 2) the continuation of development projects by the administrator when the Board received its own debtor, or liquidator and subsidies necessary to its completion or 3) the conclusion of the agreement referred to in article 2. 271 paragraph. 1.2. The Assembly of the buyers may agree to the free choice of the contractor by a receiver or trustee, while the determination of the essential terms of the contract. The provisions of article 4. 320-322 shall apply mutatis mutandis.

3. The convening of the Assembly of the buyers for each separate insolvency is mandatory.

4. The Assembly of the buyers take the resolution referred to in paragraph 1. 1, in the presence of at least half of the buyers having a total of three quarters of the total claims per customers eligible to participate in this meeting.

5. in the case of the resolution referred to in paragraph 1. 1, paragraph 1, or to repeal its resolutions by the referee, the property constituting a separate mass of insolvency enter into bankruptcy, and non-monetary obligations fallen into pecuniary obligations.

6. The remainder of the Congregation of the purchasers shall apply mutatis mutandis the provisions of a meeting of creditors.

Article. 4255. [transfer of ownership or the right of perpetual usufruct of real estate] 1. In the case referred to in article 1. 4254 paragraph. 1 point 2, the administrator moves to the buyers the right of ownership or the right to use a perpetual real estate within 30 days from the date of completion of the development project, and the amount remaining in a separate mass bankruptcy into insolvency funds.



Title II of the insolvency proceedings against banks and cooperative credit unions unions DIVISION I General provisions Art. 426. [entity entitled to submit an application for a declaration of bankruptcy of the Bank] 1. Application for a declaration of bankruptcy of the Bank can report the Commission of financial supervision.

2. In insolvency proceedings to the Bank shall not apply the provisions of article 4. 38 – 43.

Article. 427. [obligation to listen to specific people as to the basics of bankruptcy] 1. Before the announcement of the bankruptcy of the Bank, the Court shall hear what the basics of bankruptcy and insolvency administrators, managers or supervisors of the person: a representative of the financial supervision Commission, of the President and other members of the last Board or receivership, or liquidator of the Bank to which the application relates. In the case of proceedings relating to the bankruptcy of the State Bank or a bank that is a subsidiary of the State Treasury, the Court shall hear also representative of the Minister responsible for the Treasury.

2. the Court may withdraw from hearing the President and other members of the Board of Directors of the Bank, if the hearing would result in a delay in the diagnosis of the case.

3. The receiver can also be another bank.

4. (repealed).

Article. 428. (repealed).

Article. 429. [Declaration of bankruptcy of the Bank with the possibility of the conclusion of the] 1. The court announces bankruptcy of the Bank with the possibility of the conclusion of the agreement.

2. the provisions of the initial meeting of creditors shall not apply.

3. The order of the bankruptcy court establishes a guardian to represent the Bank in bankruptcy proceedings. The trustee shall apply the provisions of art. paragraph 187. 3 and 4.

Article. 430. (repealed).

Article. 431. (repealed).

Article. 432. [transmission of reports of the administrator and the accounting reports] a report referred to in article 1. 168, the bankruptcy trustee, judicial trustee or supervisor shall transmit to the Commission of financial supervision.

Article. 433. [effects of bankruptcy to Bank authorities] from the date of bankruptcy: 1) managing authorities and supervisory Bank dissolved;

2) expire receiverships, the appointment of the liquidator and trustee rights established by art. 144 paragraph 1. 1 of the law of 29 August 1997 – banking law (Journal of laws of 2002 No. 72, item 665., as amended);

3) terminate any permission people within the authorities of the Bank to cash checks, as well as to the remuneration for the period after the announcement of the bankruptcy.

Article. 434. [Solution contracts concluded by the bank] on the day of the Declaration of bankruptcy are the solution: 1) bank account agreement; the interest rate on bank accounts is charged until the date of bankruptcy;

2) the loan agreement and the loan, if the day of the bankruptcy is not putting the cash available to the borrower (borrowers);

3) the guarantee contract, bank guarantees and letters of credit, if by bankruptcy bank did not receive Commission on these activities;

4) contract to provide a PO box deposit and storage, including the release of securities and items should take place within a period agreed with natural for safekeeping.

Article. 435. (repealed).

Article. 436. [extension of the circle of persons entitled to submit proposals for systemic] 1. Composition proposal may also deposit the shareholders (members), representing two thirds of the share capital of the Bank in the form of a public limited company or equity cooperative Bank Fund, as well as a community bank, which bank spółdzielczy is a shareholder.

2. Before approving the agreement, the Court shall seek the opinion of the financial supervision Commission.

Article. 437. [change the conduct of insolvency proceedings] 1. If you do not come to the conclusion of the Court changes the way the conduct of insolvency proceedings, with the possibility of the conclusion of the proceedings involving the liquidation of the assets of the bankrupt Bank.

2. the conditions for the acquisition of the banking companies by other banks, and the deadline for submission of tenders specifies the judge-Commissioner after consultation with the financial supervision Commission.

3. the order approving the choice of deals the judge-Commissioner it seems, after consulting the Commission of financial supervision.


Article. 438. [Gain bank account obligations by the purchaser of the Bank companies] 1. The buyer of the banking firm takes over liability for bank accounts.

2. after the conclusion of the contract of sale banking firms trustee report immediately the sale of the Bank, in which the bank is entered.

Article. 439. [Sell assets the bankrupt Bank] if the Enterprise Bank is not sold as a whole, the trustee with the permission of the referee will proceed to sell assets the bankrupt Bank.

Article. 440. [meet the claims and charges per from the bankrupt Bank] 1. Meet the claims and charges per from the bankrupt Bank, not covered by the provision, art. 438 paragraph 1. 1, in accordance with art. 342.2. Bank Guarantee Fund claims in respect of payment of guaranteed aid, referred to in art. 20 c of paragraph 1. 1 of the Act of 14 December 1994 on the bank guarantee fund (OJ of 2009 No. 84, item 711, as amended) and the support referred to in article 1. 20 g of paragraph 1. 2 of this Act, are to meet in the second category.

3. (repealed).

Article. 441. [satisfaction of claims secured by restricted rights in kind] if the receivables and receivables from the bankrupt were secured by restricted rights in kind, their satisfaction in accordance with art. 345 and 346.



Article. 441a. [Request for bankruptcy savings-credit] 1. Application for a declaration of bankruptcy the cooperative credit unions may submit only Financial Supervisory Commission.

2. In insolvency proceedings to savings and credit the receiver can also be another credit union cash credit unions.

3. the composition proposal may make members of savings and credit that represents two-thirds of the equity fund money.

4. The remainder of the provisions of article 3. 426-441 shall apply mutatis mutandis.



SECTION II of insolvency proceedings against the mortgage banks Article. 442. [creating a separate insolvency for the satisfaction of claims of creditors of the mortgage bonds] in the event of bankruptcy mortgage bank claims, laws and measures referred to in article 1. 18 paragraph 1. 3 and 4 of the Act of 29 August 1997 on the lists bonds and mortgage banks (Journal of laws of 2003 No. 99, poz. 919, as amended), entered in the register of security of mortgage bonds, create a separate mass bankruptcy, which primarily serves the claims of creditors of the mortgage bonds; after satisfaction of the claims of creditors of the mortgage bonds surplus funds from a separate weight belongs to the estate.

Article. 443. [appoint a guardian to represent in proceedings on the rights of holders of mortgage bonds] 1. In the order of the bankruptcy court will establish a guardian for representation in proceedings, the rights of holders of mortgage bonds. Before the establishment of the guardianship court shall seek the opinion of the financial supervision Commission as to the person's guardian.

2. The guardian referred to in paragraph 1. 1, shall apply mutatis mutandis the provisions of article 4. paragraph 187. 3 and 4 and the provisions of the trustee reports.

Article. 444. [request to bankruptcy the sum of mortgage bonds] Curator throws in bankruptcy: 1) total amount of outstanding nominal amount of unredeemed by bankruptcy mortgage bonds, whose due date is before that date, and the total amount of unpaid interest;

2) General the sum of the nominal mortgage bonds and interest paid after the date of bankruptcy, and the premium provided for in the plan.

Article. 445. [powers of trustee] 1. The bankruptcy trustee, judicial trustee and supervisor will provide women with all necessary information. The guardian has the right to view the books and documents of the bankrupt Bank.

2. At the meeting of creditors trustee has the right to vote only on matters which may affect the rights of the holders of the covered bonds.

Article. 446. [Behavior maturities obligations to creditors of the mortgage bonds] bankruptcy mortgage bank does not affect the maturities its liabilities to creditors of the mortgage bonds.

Article. 447. [winding up a separate insolvency] 1. The Elimination of a separate bankruptcy trustee shall be carried out with the participation of the guardian.

2. in the event of approval by the Council of creditors or the judge-Commissioner for sale with a free hand to property included in a separate bankruptcy sale requires the consent of a guardian.

3. Assets entered in the register of mortgage protection mortgage bonds are sold to another bank, hipotecznemu, unless this is not possible, or that the rates offered by other mortgage banks is much lower than the amounts that you can get from the download charges and the other ingredients. The sale of these components move to the purchaser of the obligations of the bankrupt bank creditors of mortgage covered bonds. The passage is the consent of the creditors of the mortgage covered bonds is not required. For sale components property guardian consent is required. About the sale should announce.

4. the provision of paragraph 1. 3 shall apply mutatis mutandis to the sale of components of the property registered public security mortgage bonds.

5. The contract of sale mortgage referred to in paragraph 1. 2, is the basis for entry in the land register.

Article. 448. [the claim be settled by means of a separate insolvency] with a separate insolvency meets successively: 1) the costs of the liquidation of this mass, which also include remuneration of guardian;

2) duty holders of mortgage bonds and bonds at their face value;

3) interest (coupons).

Article. 449. [Meet the holders of bonds from the Fund insolvency] If a separate mass of bankruptcy is not sufficient to fully meet the holders of bonds, the remaining sum is subject to satisfaction by funds in bankruptcy; the sum of the curator of the votes at the conclusion of the agreement, entitled to one vote from any sum that results from the distribution of the sum of all other claims, eligible to vote, by the number of creditors who represent these claims. The sum of to meet the holders of mortgage bonds with the Insolvency Fund shall be to fund a separate bankruptcy.

Article. 450. [prohibition of circulation of mortgage bonds issued by bankrupt] are not allowed in the circulation of mortgage bonds issued by the bankrupt, which are its property. Such list shall be remitted.



SECTION III of the insolvency proceedings against credit institutions, foreign banks and domestic banks doing business abroad Chapter 1 General provisions Article. 451. [the application of the provisions of the Act to the bankruptcy of banks and credit institutions, the] the provisions of this section shall apply in the case of: 1) bankruptcy of National Bank, if it operates abroad of the Republic of Poland in at least one other Member State of the European Union or a Member State of the European free trade agreement (EFTA)-the agreement on the European economic area;

2) bankruptcy, the opening of composition proceedings or of any other similar proceedings to the credit institution, if it carries out business in the Republic of Poland;

3) bankruptcy, the opening of composition proceedings or of any other similar proceedings against a foreign bank, if the foreign bank carries on business in the Republic of Poland and in at least one other Member State of the European Union or a Member State of the European free trade agreement (EFTA)-the agreement on the European economic area.

Article. 452. [Definitions] 1. Whenever the law is talking about "National Bank", "foreign bank", "credit institution", "National Bank branch abroad", "Branch Office of a foreign bank" and "the branch of a credit institution" shall mean the institutions referred to in the provisions of the banking law.

2. As used in this section shall mean: 1) "foreign court" the Court or other authority entitled to carry out or supervise insolvency proceedings, composition or of any other similar proceedings in another Member State of the European Union or a Member State of the European free trade agreement (EFTA)-the agreement on the European economic area;

2) "foreign Manager"-a person or entity designated for foreign insolvency proceedings, composition or other similar proceedings to management, reorganize or liquidate the debtor's assets, established in accordance with the laws of another Member State of the European Union or a Member State of the European free trade agreement (EFTA)-the agreement on the European economic area.

Article. 453. [exclusion of application of the rules on exclusive jurisdiction] Polish Courts do not have jurisdiction in matters of insolvency on credit institutions doing business or having property in the Republic of Poland. Provision of art. 405 paragraph. 1 shall not apply.


Article. 454. [Recognition under foreign law insolvency proceedings] Foreign insolvency proceedings, composition proceedings or other similar proceedings conducted to credit institutions shall be subject to recognition under the law, if the proceedings initiated, the competent foreign court in the country of the European Union or a Member State of the European free trade agreement (EFTA)-the agreement on the European economic area, in which a credit institution is established.

Article. 455. [the composition of the estate] in the National Bank's insolvency is also property of the bankrupt situated on the territory of the Member States of the European Union or the Member States of the European free trade agreement (EFTA) parties to the agreement on the European economic area.



Chapter 2 Procedure Article. 456. [notice of bankruptcy] 1. The Court, which declared bankruptcy a National Bank or a foreign bank, shall forthwith inform the competent authorities of the Member State of the European Union or a Member State of the European free trade agreement (EFTA) – the parties to the agreement on the European economic area, in which the branch of the National Bank abroad or another branch of a foreign bank, informing about the consequences of bankruptcy.

2. If the proceedings referred to in paragraph 1. 1, may affect the rights of third parties in the State which is a member of the European Union or a member of the European free trade agreement (EFTA) is a party to the agreement on the European economic area or when such persons are entitled to a complaint against the decision on the Declaration of bankruptcy, this provision is subject to the notice in the official journal of the European communities, and in two magazines circulated in each State in which the branch of the Bank. The time limit for appeal shall be counted from the date of the notice in the official journal of the European communities.

3. A notice referred to in paragraph 1. 2, is made in the language or one of the official languages of the Member State in which it is placed. In the notice, you must specify the purpose and legal basis of bankruptcy, the deadline for the appeal and the address of the Court with jurisdiction to hear and determine together with the address of the Court, through which a complaint is lodged.

Article. 457. [call for lodging of claims] 1. Call to submit claims by creditors residing or established in a Member State of the European Union or a Member State of the European free trade agreement (EFTA)-the agreement on the European economic area should contain a header: "Call to report claims. The deadline for registration ", drawn up in all the official languages of the European Union and the Norwegian and Icelandic. The summons shall indicate the deadline for registration of claims, the effects of its failure to indicate whether the creditors who have claims of preferential or secured in rem need to make filing claims, as well as specify the obligation to include evidence of the existence of the claim.

2. The creditor residing or established in a Member State of the European Union or a Member State of the European free trade agreement (EFTA)-the agreement on the European economic area may submit a claim in the official language or one of the official languages of the Member State in which the place of residence or registered office, however, at least the heading "Application claims" should be expressed in the Polish language. The Court may require a certified translation of the Declaration into Polish.

Article. 458. [equal rights of domestic and foreign creditors] 1. Upadłościowi national bank creditors or a foreign bank, residing or established in a Member State of the European Union or a Member State of the European free trade agreement (EFTA)-the agreement on the European economic area, have in the proceedings the same rights as creditors.

2. Foreign public law duties meets in category five.

Article. 459. [Rights of foreign managers] 1. In the case of bankruptcy, the opening of composition proceedings or of any other similar proceedings in respect of a credit institution having a branch within the territory of the Republic of Poland, the foreign manager wishing to perform his activities in the Republic of Poland is obliged to demonstrate its powers officially certified copy of the judgment or the decision on its establishment, together with a certified translation into Polish.

2. a foreign Manager, referred to in paragraph 1. 1, use within the scope of its official activities in the Republic of Poland with the same permissions, what you have in the State in which it was called.

3. a foreign Manager is obliged to request disclosure of the bankruptcy, the opening of composition proceedings or of any other similar proceedings in the registers, national court register and other registers kept in the Republic of Poland. Requesting this experience can the competent judicial or administrative authorities of the State in which it was announced bankruptcy, composition or other similar proceedings have been opened. Costs incurred in connection with the disclosure of part of the costs of the proceedings.

Article. 4591. [obligation to the trustee with respect to creditors] the trustee is obliged to regularly, not less frequently than every six months, inform the creditors whose habitual residence, domicile or registered office are located in other Member States of the European Union or in the Member States of the European free trade agreement (EFTA) – sides of the agreement on the European economic area of the action taken in the proceedings during the period covered by the information.



Chapter 3 of the applicable law and the consequences of bankruptcy Article. 460. [application of Polish law] in the insolvency proceedings commenced in the Republic of Poland Polish law shall apply, in so far as the provisions of this chapter provide otherwise.

Article. 461. [law] 1. Labor relations of employees employed in the territory of another Member State of the European Union or a Member State of the European free trade agreement (EFTA)-page agreement on the European economic area shall be governed by the law applicable to the contract of employment.

2. the recognition of the things for the property is assessed according to the law of the location of things.

3. for contracts with the use or acquisition of real property located in the territory of another Member State of the European Union or a Member State of the European free trade agreement (EFTA)-agreement on the European economic area shall apply the law of the Member State in which the property is situated.

4. the rights relating to immovable property located in the territory of another Member State of the European Union or a Member State of the European free trade agreement (EFTA) is a party to the agreement on the European economic area and a sea-going vessel or aircraft, registered, are subject to the law of the Member State in which the register is kept.

Article. 462. [behavior of the rights of creditors and others gravitating to things and other property of the debtor] 1. Bankruptcy does not affect the rights of creditors and others gravitating to things and other property of the fallen on the territory of another Member State of the European Union or a Member State of the European free trade agreement (EFTA) – the parties to the agreement on the European economic area, including the organized part of the property and, in particular, the right to dispose of the property in order to satisfy the duty or right to satisfy debts with the proceeds that the property brings, liens and mortgages, the right to demand the assets from, in the possession of which it is against the will of the holder of the right to use the trust property.

2. the provision of paragraph 1. 1 applies to rights and claims, entered in the land registry and other public records, which leads to the creation of the rights mentioned in paragraph 1. 1.3. The provisions of paragraph 1. 1 and 2 shall not preclude the request by way of an action to annul a legal action or discretion for ineffective legal action made detrimental to creditors.

Article. 463. [the effectiveness of the provisions of the contract of sale] 1. Disclaimer in the contract of sale of property rights in favour of the seller does not expire due to the bankruptcy of National Bank which is the purchaser of the subject-matter of the contract, if, at the time of bankruptcy subject matter of the contract was in the territory of another Member State of the European Union or a Member State of the European free trade agreement (EFTA) – agreement on the European economic area.

2. Bankruptcy Landesbank as a vendor item of property may not be grounds for withdrawal from the contract of sale, if the edition sold occurred before filing for bankruptcy, and at the time of the bankruptcy was sold abroad.

3. the provisions of paragraphs 1 and 2. 1 and 2 shall not preclude the request by way of an action to annul a legal action or discretion for ineffective legal action made detrimental to creditors.


Article. 464. [the law applicable to the assessment of events associated with the entry, the registry or on the account of] the exercise of rights, which, the existence of or disposal requires an entry in the books or records, disclosure Bill, or submit to the central depository, shall be governed by the laws of the country in which the books or records, bills or deposits are carried out.

Article. 465. [the right to repurchase] subject to article. 464, the repurchase right shall be governed by the law applicable to contractual obligations, applicable to the agreement, from which the right is clear.

Article. 466. [securities transactions] subject to article. 464, to the contracts concluded under a transaction on a regulated market within the meaning of the provisions of the Act of 29 July 2005 on trading in financial instruments shall be the law applicable to contractual obligations, applicable to transactions on the market.

Article. 467. [Steps compensated] Act of netting shall be governed by the law applicable to contractual obligations, applicable to those agreements.

Article. 4671. [bankruptcy and creditor's right to set-off claims] bankruptcy does not affect the right of creditors to demand the set-off of their claims with a debt of the bankrupt if such set-off is permitted by the law applicable to the claim of the fallen.

Article. 468. [Act rozporządzająca in relation to the property or] the effectiveness and validity of the legal act of a supra in relation to real property, ship or aircraft subject to entry in the register, or in relation to the rights, which, the existence of or disposal requires an entry in the books or records, disclosure Bill, or submit to the central depository, made by the bankrupt after the bankruptcy is governed by the laws of the Member States in which the property is situated or in which are the books, registers, accounts or deposits.

Article. 469. [legal action made detrimental to creditors] the rules of nullity and annulment of a legal act detrimental to the creditors shall not apply where the law applicable to this, does not provide for the nullity of acts made detrimental to creditors.

Article. 470. [effect on pending legal proceedings] the impact of the bankruptcy on legal proceedings pending before the courts of the Member State of the European Union or a Member State of the European free trade agreement (EFTA)-agreement on the European economic area shall be assessed according to the law of the Member State in which the proceedings are pending.



Title III of the insolvency proceedings against the insurance and reinsurance DIVISION I General provisions Art. 471. [entity empowered to request bankruptcy of an insurance or reinsurance undertaking] 1. Application for a declaration of bankruptcy of an insurance or reinsurance undertaking may also report the Commission of financial supervision, hereinafter referred to as "the Commission".

2. the Commission is a participant in the proceedings.

Article. 472. [the insolvency administrator in an insurance or reinsurance undertaking] 1. Before the announcement of the bankruptcy of an insurance or reinsurance undertaking, the Court shall seek the opinion of the Commission as to the people trustee. The trustee should have knowledge of the Organization and rules of operation of the insurance and reinsurance undertakings. The receiver may be another insurance undertaking or other reinsurance undertaking.

2. The trustee shall submit to the Commission at least once a year a report of its activities and accounts, after its approval by the judge-Commissioner.

3. The trustee of the bankruptcy shall notify the known creditors who have given credit to the bankrupt.

Article. 473. [establishment of guardian] 1. In order for the Declaration of bankruptcy of the Insurance Court after consulting the Commission establishes a guardian to represent the interests of people in bankruptcy proceedings of policyholders, insured persons, beneficiaries or beneficiaries of insurance contracts.

2. The guardian referred to in this chapter, shall apply mutatis mutandis the provisions of article 4. paragraph 187. 3 and 4 and the provisions of the trustee reports.

3. Women shall be entitled to compensation in the amount determined by the referee on a proposal from the Commission. The remuneration shall be paid from the funds of the bankrupt and is one of the costs of the insolvency proceedings.

Article. 474. [powers of trustee] 1. The bankruptcy trustee, judicial trustee and overseer provide women with all necessary messages to him. The guardian has the right to view the books and documents of the bankrupt. At the meeting of creditors trustee has the right to vote only on matters which may affect the rights of the insured.

2. the Guardian has the right to lodge remedies in his own name to the insured persons, authorized and entitled to the insurance contracts, and is entitled to enter into an agreement for the transfer of the insurance portfolio to another with the possibility of a reduction in the sum of insurance or the amount paid to compensation or benefits. If approved by the Commission, of the agreement for the transfer of the portfolio, the guardian Announces immediately its content three times in the official coverage nationwide.

3. The insured is not entitled to object to the conclusion of the agreement for the transfer of the insurance portfolio.

4. A contract for the transfer of the insurance portfolio contained by a guardian shall be governed by the separate transfer of the insurance portfolio.

Article. 475. [exclusion of application of the provisions of the advance on the proceedings] To insured persons, beneficiaries or beneficiaries of insurance contracts a provision art. 232 shall not apply.

Article. 476. [the expiry of contracts of insurance] of the insurance contract concluded by the insurance undertaking bankrupt shall be extinguished if the guardian does not contract for the transfer of the portfolio: 1) with minimum contracts and life insurance contracts, within a period of three months from bankruptcy;

2) with other contracts within one month from the date of the bankruptcy.

Article. 477. [creating a separate insolvency for the satisfaction of claims arising from insurance contracts, reinsurance contracts and decommissioning costs of this mass] 1. From the date of bankruptcy assets covering technical provisions of an insurance undertaking bankrupt insurance form a separate mass bankruptcy for the satisfaction of claims arising from insurance contracts, reinsurance contracts and the costs of the liquidation of this mass.

2. The liquidation of a separate bankruptcy trustee shall be carried out with the participation of the guardian.

3. in the event of approval by the Council of creditors or the judge-Commissioner for sale with a free hand to property included in a separate bankruptcy sale requires the consent of a guardian.

Article. 4771. [creating a separate insolvency for the satisfaction of claims from reinsurance contracts and the costs of the liquidation of this mass] 1. From the date of bankruptcy assets covering technical provisions-insurance fallen reinsurance form a separate mass bankruptcy for the satisfaction of claims arising from reinsurance contracts and the costs of the liquidation of this mass.

2. The liquidation of a separate bankruptcy trustee shall be carried out.

Article. 478. [claims and claims be settled by means of a separate insolvency] 1. With a separate insolvency insurance meets successively: 1) the costs of the liquidation of a separate bankruptcy;

2) receivables from insurance contracts, subject to the provisions of paragraph 2. 3;

3) receivables from reinsurance contracts.

2. Unsatisfied with a separate insolvency claims with insurance contracts shall be entered in the plan allocation of proceeds in a separate category, met after the first category referred to in article 1. 342.3. Claims of victims and eligible for mandatory insurance and claims of insured persons entitled and beneficiaries of life insurance contracts, Insurance and guarantee fund meets the Polish Office Communication Insurers according to the separate provisions, within the limits set out in those provisions.

Article. 4781. [order to satisfy claims from a separate insolvency reinsurance] with a separate insolvency reinsurance meets successively: 1) the costs of the liquidation of a separate bankruptcy;

2) receivables from reinsurance contracts.

Article. 479. [satisfaction of claims by the Insurance guarantee fund] in the event of rejection of application for declaration of bankruptcy of an insurance undertaking with the reasons referred to in article 1. 13 paragraph 1. 1, as well as in case of redemption of the insolvency proceedings, Insurance guarantee fund caters to claim victims and eligible, in the manner and on the terms specified in separate regulations.

Article. 480. [powers of a guardian in the vote at the conclusion of the agreement] at the conclusion of the agreement, the curator of the vote the sum of insured receivables outstanding from a separate insolvency, entitled to one vote from any sum that results from the distribution of the sum of all other claims for voting by the number of creditors who represent these claims.



SECTION II of insolvency proceedings against the established in the Member States of the European Union or the Member States of the European free trade agreement (EFTA) – sides of the agreement on the European economic area of insurance undertakings and their branches and reinsurance undertakings and their branches of Art. 481. [the bankruptcy of insurance and reinsurance undertaking] the provisions of art. 452 paragraph 2. 2, art. 453-466. comp/m.4671-470 shall apply mutatis mutandis in the case of:


1) bankruptcy of national insurance or national reinsurance, if it operates abroad of the Republic of Poland in at least one other Member State of the European Union or a Member State of the European free trade agreement (EFTA)-the agreement on the European economic area;

2) bankruptcy, the opening of composition proceedings or of any other similar proceedings against a foreign insurance undertaking, a) b) foreign reinsurance undertaking is established in a Member State of the European Union or a Member State of the European free trade agreement (EFTA)-the agreement on the European economic area, if it operates in the Republic of Poland;

3) bankruptcy, the opening of composition proceedings or of any other similar proceedings against a foreign insurance undertaking, a) b) foreign reinsurance undertaking is established in a non-member of the European Union or a member of the European free trade agreement (EFTA) is a party to the agreement on the European economic area, if it operates in the Republic of Poland and in at least one other Member State of the European Union or a Member State of the European free trade agreement (EFTA)-the agreement on the European economic area.

Article. 482. [Definitions] used in the article. 481 mean: 1) "national insurance"-the trader established on the territory of the Republic of Poland, which has been authorised to carry on the business of insurance within the meaning of the rules;

1A) "national reinsurance – a trader established on the territory of the Republic of Poland, which has been authorised to carry on reinsurance business within the meaning of the rules;

2) "national insurance" – the organizational unit of the national insurance, implementing in his name and on his behalf all or some of the activities resulting from an authorisation granted to the national insurance;

2A) "a branch of the national reinsurance" – the organizational unit of the national reinsurance, that in his name and on his behalf all or some of the activities resulting from an authorisation granted to a national reinsurance;

3) "international insurance company" – a trader established abroad of the Republic of Poland, performing insurance business within the meaning of the rules;

3A) "foreign reinsurance – a trader established abroad of the Republic of Poland, the executing State reinsurance within the meaning of the rules;

4) "a branch of a foreign insurance undertaking" – the organizational unit of a foreign insurance undertaking, acting in his name and on his behalf insurance business;

5) "a branch of foreign reinsurance" – the organizational unit of a foreign reinsurance, that in his name and on his behalf reinsurance.



Title IV of the insolvency proceedings against issuers of bonds Art. 483. [Bankruptcy entity issuing the bonds] 1. The provisions of this title shall apply in the event of bankruptcy of the entity issuing the bonds, if the security of a bond security on the assets of the issuer.

2. the provisions of this title shall not apply in the event of insolvency of the issuer revenue bonds, if the issuer in the body of the bonds has limited its liability to the amount of income or the value of the assets of the project. The measures designed to meet the rights of bondholders of such bonds do not fall into insolvency, and the claims of bondholders not subject to settlement in bankruptcy proceedings.

Article. 484. [appoint a guardian to represent the rights of bondholders] To represent the rights of bondholders, the Court lays down the guardian. The curator can also be a bank, with which the fallen has a contract to represent the bondholders to the issuer.

Article. 485. [Curator] to the guardian referred to in this title, shall apply mutatis mutandis the provisions of article 4. paragraph 187. 3 and 4 and the provisions of the trustee reports.

Article. 486. [powers of trustee] 1. The bankruptcy trustee, judicial trustee and overseer provide women with all necessary messages to him. The guardian has the right to view the books and documents of the bankrupt. At the meeting of creditors trustee has the right to vote only on matters which may affect the rights of bondholders.

2. When concluding the agreement, the curator of the votes by the sum of the claims bondholders unmet with a separate insolvency, entitled to one vote from any sum that results from the distribution of the sum of all other claims for voting by the number of creditors who represent these claims.

Article. 487. [the sum of bond reported to the bankruptcy by the trustee] 1. The guardian reports the bankruptcy: 1) total amount of outstanding nominal amount of unredeemed by bankruptcy of bonds whose maturity falls before that date, and the total amount of unpaid interest on those bonds;

2) total amount of outstanding bonds and interest paid after the date of bankruptcy.

2. In the request to replace the assets of the issuer, in which security rights of bondholders.

Article. 488. [creating a separate insolvency intended to satisfy the rights of bondholders] 1. The subject of securing rights from bonds creates a separate the bankrupt intended to satisfy the rights of bondholders.

2. The liquidation of a separate bankruptcy trustee shall be carried out with the participation of the guardian.

3. in the event of approval by the Council of creditors or the judge-Commissioner for sale with a free hand to property included in a separate bankruptcy sale requires the consent of a guardian.

Article. 489. [to satisfy the creditors with a separate insolvency] with a separate insolvency meets successively: 1) the costs of the liquidation of this mass, which also include remuneration of guardian;

2) Receivables bondholders in their nominal price;

3) interest (coupons).

Article. 490. [to satisfy the creditors in the Insolvency Fund] If a separate mass of bankruptcy is not enough to fully satisfy the claims bondholders, unmet are subject to satisfaction of the Insolvency Fund.

Article. 491. [prohibition of circulation of bonds issued by bankrupt] are not allowed in the circulation of bonds issued by the bankrupt, which are its property. Such bonds shall be remitted.



Title V of the insolvency proceedings against individuals not involved in the economic activities of Art. 4911. [scope] the provisions of this title shall apply to individuals whose bankruptcy could not announce in accordance with the provisions of chapter II of title I of part one.

Article. 4912. [Declaration of bankruptcy by the debtor] 1. In matters not regulated by this title shall apply mutatis mutandis the provisions of bankruptcy proceedings involving the liquidation of the assets of the debtor, except that it shall not apply the provisions of article 4. 13. 21, art. 25, art. 36, art. 38, art. 40, art. 44 – 50. 55. 56, art. 73 paragraph 2. 5, art. 74, art. 165 paragraph 1. 1, art. 166, art. 167. 307 paragraph 1. 1 and art. 361.2. Insolvency proceedings in matters covered by the provisions of this title shall be conducted even if the debtor has only one creditor.

3. the application for a declaration of bankruptcy may report only the debtor.

4. the application for a declaration of bankruptcy should contain: 1) your first and last name, place of residence and social security number of the debtor, if the debtor does not have a social security number – data for its unambiguous identification;

2) an indication of the places in which the debtor's assets;

3) an indication of the circumstances which justify the request and their prima facie evidence;

4) current and complete list of assets with an estimated valuation of its components;

5) list of creditors with their addresses and the amount of the claims of each of them and the terms of payment;

6) list of disputed claims, with an indication of the extent to which the debtor disputes the existence of debts; an indication of the claim in the list of claims at issue does not constitute its sole discretion;

7) list of security established on property of the debtor along with the dates of their establishment, in particular mortgages, liens and pledges registered;

8) a statement of the debtor, that no circumstances indicated in article. 4914 paragraph. 2 and 3.

Article. 4913. [the bankruptcy court] cases the bankruptcy covered by the provisions of this title recognizes the bankruptcy court composed of one judge.

Article. 4914. [rejection of application] 1. The Court dismisses the application for a declaration of bankruptcy, if the debtor has led to its insolvency or significantly increased its degree of intentionally or by gross negligence.

2. the Court dismisses the application for a declaration of bankruptcy, if within a period of ten years prior to the date of application: 1) [6] in relation to the debtor's insolvency proceedings have been conducted under the provisions of this title, if the proceedings were discontinued for reasons other than at the request of the debtor, 2) established for the debtor's repayment plan creditors were repealed on the basis of the provision of article. 49120,


3) the debtor, having such a duty, contrary to the provisions of the Act not reported within the application for a declaration of bankruptcy, 4) the debtor's legal action was legally considered as having been made with detrimental to creditors — unless the conduct is justified on grounds of equity or humanitarian.

3. the Court dismisses the application for a declaration of bankruptcy, if within a period of ten years prior to the date of the request in relation to the debtor's insolvency proceedings have been conducted in which were waived all or part of its liabilities, unless the debtor's insolvency or increase its degree occurred despite compliance by the debtor of due diligence or conduct is justified on grounds of equity or humanitarian.

4. the Court dismisses the application for a declaration of bankruptcy, if the data provided by the debtor in the application are inconsistent or incomplete, unless the non-compliance or niezupełność are not relevant or conduct is justified on grounds of equity or humanitarian.

Article. 4915. [taking into account the proposal for a] having regard to the request for a declaration of bankruptcy, the Court shall make an order about the bankruptcy, in which: 1) lists the name and surname, place of residence and social security number of the bankrupt (the fallen), and if the bankrupt does not have a social security number – data for its unambiguous identification;

2) specifies that the bankrupt is the person not engaged in economic activities;

3) indicates that the procedure includes the liquidation of the assets of the bankrupt;

4) calls on the bankrupt's creditors to report the claim within one month from the date of the notice of bankruptcy in the Gazette and;

5) calls on the persons to whom the rights and obligations of personal rights and claims on property belonging to the bankrupt, if it were not disclosed in the land register, to submit, within one month from the date of the notice of bankruptcy in the Gazette and economic, on pain of loss of the right to invoke not in the proceedings;

6) designates the official receiver and liquidator.

Article. 4916. [for bankruptcy] 1. The bankruptcy order shall be immediately available to the public by announcement in the Court building, and a notice in the Gazette.

2. A provision in the bankruptcy shall be served on the trustee and the bankrupt. About the bankruptcy shall be notified to the competent Chamber of the finance and the competent branch of the social insurance or building Agricultural Social Security.

3. the notices required in the course of the proceedings in accordance with the provisions of this title shall be made by notice in the Gazette.

4. The notice referred to in paragraph 1. 1 and 3, are not subject to the charges.

Article. 4917. [cover the costs of the procedure] 1. In the case where the assets of the insolvent debtor is not enough to cover the costs of the proceedings or in mass bankruptcy there is no liquid funds on their cover, these costs cover temporarily the Treasury.

2. The judge-Commissioner specifies by order of the amount of costs of the proceedings, and manages their immediate payment temporarily from the resources of the State Treasury. The referee shall have the complaint.

3. In particularly justified cases the judge-Commissioner grants him an advance to cover the costs of the procedure and order its immediate payment temporarily from the resources of the State Treasury.

4. The receiver returns the State Treasury the amounts paid as soon as possible after receipt of the insolvency funds sufficient to cover the costs of the procedure.

Article. 4918. [request for information about the fallen, having an impact on the assessment of its assets] 1. After the Declaration of bankruptcy the trustee asks the head of the tax office responsible for the bankrupt with a request for information about the fallen, having an impact on the assessment of its financial situation, in particular as regards circumstances giving rise after the fallen tax over a period of five years before the date of filing the application for a declaration of bankruptcy, and consult with the information in the national court register, or the fallen is a partner of commercial companies , as well as whether during the ten years before the date of the request for a declaration of bankruptcy he served as member of the commercial companies and whether these companies declared bankruptcy.

2. The trustee shall inform the official receiver incompatibility information obtained in the manner referred to in paragraph 1. 1, with data provided by the bankrupt in the application for a declaration of bankruptcy.

Article. 4919. [remuneration the trustee] 1. The Court shall fix the remuneration of the trustee in the proceedings conducted under the provisions of this title, taking into account the amount of funds in bankruptcy, satisfy creditors, the effort, the range of actions to be taken in the proceedings, degree of difficulty and duration of the conduct.

2. the remuneration of the trustee shall be determined in the amount of one-fourth of the average monthly salary in the business sector without payments from profit in the fourth quarter of the previous year, as announced by the President of the Central Statistical Office to his twice.

3. In particularly justified cases, the Court may determine the remuneration of the trustee of up to 400% of the average monthly wage referred to in paragraph 1. 2 If this is justified by the increased workload the trustee arising in particular from the complexity of the procedure and the number of creditors.

4. the remuneration of the trustee and the return of his expenditure rules bankruptcy court composed of one judge.

Article. 49110. [adjudicate] 1. The Court shall dismiss proceedings at the request of the bankrupt.

2. where the bankrupt does not indicate or not delivered to the liquidator all assets, the necessary documents, or otherwise does not perform the obligations on its obligations, the Court, of its own motion or at the request of the trustee or a creditor, after listening to the bankrupt, the trustee and, if necessary, also the creditors, shall discontinue proceedings, unless the failure to comply with obligations on him by the bankrupt is not relevant or conduct is justified on grounds of equity or humanitarian.

3. the provision of paragraph 1. 2 shall apply mutatis mutandis in cases where the basis for the dismissal of the application for a declaration of bankruptcy will reveal after the Declaration of bankruptcy.

4. To order the remission of the proceedings shall be entitled to appeal.

Article. 49111. [Objects that make up the estate] 1. Doubt as to which of the items belonging to the bankrupt are part of the bankruptcy, the bankruptcy judge decides on a proposal from the trustee or the bankrupt.

2. the order of the judge-Commissioner, as to which items belonging to the bankrupt form part of the insolvency and order the exclusion from the bankruptcy, issued as specified in art. 73, shall be served on the creditors.

3. The provisions referred to in paragraph 1. 2, have a complaint.

Article. 49112. [Authorization fallen for sale of movable property belonging to the estate] the trustee may in writing authorize the debtor to sell movable property belonging to the estate. The authorization shall apply mutatis mutandis the provisions of the mandate.



Article. 49113. [to satisfy the housing needs of the bankrupt and dependants] 1. If the insolvency administrator enters residential premises or House, in which resides the fallen, and it is necessary to meet the housing needs of the bankrupt and dependants, from the sum obtained from the sale of a debtor in the amount corresponding to the average lease rent be dwelling in the same or neighboring towns for the period from twelve to twenty-four months.

2. the amount referred to in paragraph 1. 1, at the request of the debtor, the bankruptcy judge determines, taking into account the housing needs of the fallen, including number of dependants, earning capacity of the fallen, the amount obtained from the sale of a dwelling or House and the opinion of the trustee. The referee shall have the complaint.

3. If the insolvency funds allow, and abandoned by the bankrupt residential premises or House has not yet been disposed of, the judge-Commissioner may grant the bankrupt an advance on the amount referred to in paragraph 1. 1. Article. 49114. [Establishing the repayment schedule of creditors or waiver of liability of the fallen] 1. After the final draft terms of Division, and when due to a lack of assets of the bankrupt draft terms of Division has not been drawn up – after the approval of the list of claims, and after hearing the bankrupt, the trustee and the creditors, the Court shall fix the plan to repay creditors or in the cases referred to in article 1. 49116, redeems the bankrupt's obligations without repayment plan to the creditors.

2. Order establishing the repayment schedule of creditors or remitted obligations fallen without the repayment schedule of creditors shall be served on the creditors. On order are entitled to appeal.

3. Validation the provisions on the repayment schedule of creditors or remitted the bankrupt's obligations without repayment plan creditors means the end of the proceedings.




Article. 49115. [Order to fix a repayment plan to creditors] 1. In order to fix a repayment schedule of creditors, the Court determines to what extent and at what time, not more than thirty-six months, the bankrupt is obliged to repay the obligations recognized in the list of claims, incomplete in the course of the proceedings on the basis of the plans Division, and what part of the bankrupt's obligations arising before the effective date of the Declaration of bankruptcy will be redeemed after repayment plan to the creditors.

2. Obligations arising after the Declaration of bankruptcy and incomplete in the course of the proceedings shall be taken into account in the plan to repay creditors in full, with their repayment can be decomposed into installment on time no longer than provided for in the implementation of the plan to repay creditors.

3. Temporarily covered by the Treasury to pay the costs, the Court shall be debited to the fallen. These costs shall be taken into account in the plan to repay creditors in full, with their repayment can be decomposed into installment on time no longer than provided for in the implementation of the plan to repay creditors.

4. The Court is not bound by the position of the debtor as to the content of the plan to repay creditors. In determining the repayment plan to creditors, the Court shall take into account the earning potential bankruptcy, the need to maintain the fallen and dependants, including their housing needs, the amount of outstanding claims and the reality of their meet in the future.

5. determination of the repayment schedule of creditors shall not affect the rights of the creditor against the guarantor of the bankrupt and the bankrupt współdłużnika or rights under a mortgage, pledge, Lien, tax lien registration and mortgages, if they were established on the property of a third party. Fix repayment schedule of creditors and waiver of liability of the fallen is effective also in the relations between the fallen, and the guarantor, the guarantor and współdłużnikiem fallen.

6. During the execution of the repayment schedule of creditors it is the initiation of enforcement proceedings concerning claims arising before the plan to repay creditors, with the exception of claims arising from the obligations referred to in article 1. 49121 paragraph. 2. Article. 49116 [waiver of liability in bankruptcy without the repayment schedule of creditors] 1. The Court upheld the commitments of the fallen without the repayment schedule of creditors, if the personal situation of the bankrupt clearly indicates that he would have been able to make any payments under the plan to repay creditors.

2. They write off liabilities in bankruptcy without the repayment schedule of creditors, the court charges the Treasury temporarily covered the costs.

3. The provisions of article 4. 49121 paragraph. 2 and 3 shall apply mutatis mutandis.



Article. 49117. [appeal] 1. From the provisions of the Court of second instance to fix repayment schedule of creditors or remitted obligations fallen without the repayment schedule of creditors shall be entitled to appeal.

2. If an appeal, at the request of the applicant, the Court may suspend an order referred to in article 2. 49121 paragraph. 1.3. If, as a result of the diagnosis of appeal order to fix repayment schedule of creditors will be waived, the Court has waived the provision referred to in article 2. 49121 paragraph. 1. Article. 49118. [duration of repayment plan creditors] 1. During exercise plan to repay creditors of the bankrupt may no longer make legal transactions concerning his assets, which could impair its ability to perform a repayment plan to the creditors.

2. In justified cases, the Court, at the request of the debtor, may consent to or approve the making of legal action, referred to in paragraph 1. 1.3. The fallen is obliged to submit to the Court each year, until the end of April, the report on the implementation of the plan to repay creditors for the previous calendar year, in which shows revenues, repaid the amount and acquired components to property in excess of the average monthly salary in the business sector without payments from profit for the last quarter of the reporting period, announced by the President of the Central Statistical Office. To report a fallen attaches a copy of the filed annual tax return.



Article. 49119. [change plan to repay creditors] 1. If a bankrupt may not live up to the obligations set out in the plan to repay creditors, the Court at his request, after having heard the creditors, may change the plan to repay creditors. The Court may extend the period of repayment claims for a further period not exceeding eighteen months. On order of the Court shall be entitled to appeal, and the decision of the Court of second instance further appeal.

2. If the inability to comply with the obligations set out in the plan to repay creditors is persistent and arises from circumstances beyond the control of the debtor, the Court shall at the request of the debtor, after listening to the creditors, may waive the repayment plan creditors and the release of incomplete commitment the bankrupt referred to in article 1. 49115 paragraph. 1-3. On order of the Court shall be entitled to appeal, and the decision of the Court of second instance further appeal.

3. In the event of a substantial improvement of the financial situation of the fallen during the execution of the repayment schedule of creditors arising from other causes than increase in wages or income from their personal activities by a fallen gainful activity, each of the creditors and the bankrupt may request to amend the plan to repay creditors. To change the plan to repay creditors the Court after hearing the debtor and creditors affected by the plan to repay creditors. On order are entitled to appeal.

4. the provision of paragraph 1. 3 shall apply mutatis mutandis to the creditors, whose claims arising before the plan to repay creditors were after it has been determined by established judgment, settlement concluded before a court or the final decision.



Article. 49120. [waiver of repayment plan creditors] 1. In the event of failure by the debtor of the obligations laid down in the creditors ' repayment plan the Court's own motion or on application by the creditor, after hearing the debtor and creditors affected by the plan to repay creditors, has waived the repayment plan creditors, unless the failure to fulfil obligations is negligible or continue the repayment schedule of creditors is justified on grounds of equity or humanitarian. On order are entitled to appeal.

2. the provision of paragraph 1. 1 shall apply mutatis mutandis when the fallen: 1) is not made within the report on the implementation plan to repay creditors in accordance with art. 49118 paragraph. 3;

2) in the report on the implementation of the plan to repay creditors withheld the revenues or acquired property components referred to in article 1. 49118 paragraph. 3;

3) has made a legal transaction, referred to in article 1. 49118 paragraph. 1, without obtaining the consent of the Court, or it has not been approved by the Court;

4) was hiding assets or legal action of the fallen was legally considered as having been made with detrimental to creditors.

3. in the event of the repeal of the plan to repay creditors obligations of the bankrupt are not redeemable.



Article. 49121. [decision on the confirmation of the implementation of the plan to repay creditors and remitted obligations fallen] 1. After the bankrupt's obligations set out in the plan to repay creditors the Court shall make an order of confirmation of the implementation of the plan to repay creditors and remitted obligations fallen arising before the Declaration of bankruptcy and not implemented as a result of the implementation of the plan to repay creditors. On order are entitled to appeal.

2. Are not redeemable obligations of a debtor, the obligations arising from the rent in respect of compensation for causing the disease, inability to work, disability or death, the obligation to pay sentences by the court fines, as well as to comply with the obligation to repair the damage and compensation for harm suffered, the obligation to pay punitive or cash benefit sentences by the Court as a penalty or measure related to the submission, the offender attempted as well as the obligation to compensate for damage resulting from the offence established by a final judgment and the obligation, where the fallen intentionally failed to disclose, if the creditor did not participate in the proceedings.

3. After the release of the provisions referred to in paragraph 1. 1, it is prohibited to initiate enforcement proceedings concerning claims arising before the effective date of the determination of the repayment schedule of creditors, with the exception of claims arising from the obligations referred to in paragraph 1. 2. Article. 49122. [the convening of the meeting of creditors] 1. If it is ascertained that the objectives will be achieved by composition proceedings, the judge-Commissioner, at the request of the bankrupt, by order shall convene a meeting of creditors with a view to the conclusion of the agreement. In order to refuse to convene a meeting of creditors shall be entitled to appeal.

2. In calling the meeting of creditors bankruptcy judge may suspend the liquidation of the assets of the bankrupt, in particular dwelling or House, in which resides the fallen. To order the halt of the liquidation shall be entitled to appeal.

3. the request for the convening of the meeting of creditors filed after the completion of the liquidation in bankruptcy leaves without resolution.

4. Layout can be adopted only with the consent of the debtor.




Article. 49123. [the provisions about the layout in the insolvency proceedings operated to entrepreneurs] To the conclusion of the proceedings conducted on the basis of the provisions of this title, to its effects, changes and repeal shall apply mutatis mutandis the provisions about the layout in the insolvency proceedings operated to entrepreneurs, except that it shall not apply the provisions of article 4. paragraph 192. 1 and 2 and article. 280. PART FOUR of REORGANISATION PROCEEDINGS in case of INSOLVENCY RISKS Art. 492. [Threat trader insolvency] 1. The provisions of this part shall apply to entrepreneurs at risk of insolvency.

2. The entrepreneur is threatened with insolvency, if, despite the performance of its obligations, according to a reasonable assessment of the economic situation is obvious, that in a short time becomes insolvent.

3. The provisions of this part shall not apply to entrepreneurs: 1) which already ran the reorganisation proceedings, if the redemption does not have passed 2 years;

2) which was already has agreed to hand in the reorganization proceedings or bankruptcy, if the implementation of the system within 5 years;

3) against which insolvency proceedings were carried out covering the liquidation of assets, or in the attempt by the system, if the final conclusion of the proceedings, within 5 years;

4) in respect of which have been dismissed the application for a declaration of bankruptcy or insolvency proceedings were discontinued due to lack of assets to cover the costs of the proceedings, if the proceedings has become final within 5 years.

4. proceedings governed by this part may lead also entrepreneur, in relation to which the Court pursuant to art. 12 dismissed the application for a declaration of bankruptcy, while allowing the conduct of reorganisation proceedings.

Article. 493. [the correct application of the provisions of the Act] in terms of unregulated in this part to reorganisation proceedings the provisions of title II of part one shall apply mutatis mutandis.

Article. 494. [make a statement about the initiation of the reorganisation proceedings] 1. Businessman threatened insolvency can submitted to the Court a statement of initiation of reorganisation proceedings, containing the data listed in article 1. 22 paragraph 1. 1 paragraphs 1-3 and paragraph 1. 2, and a statement that there is none of the circumstances listed in article 1 (2). 492 paragraph. 3.2. Together with a statement of initiation of the recovery operator consists of the recovery plan, the documents mentioned in article 1. 23 paragraph 1. 1 and a statement with the signature notarised attested the truth data and statements, contained in a statement of initiation of reorganisation proceedings and accompanying documents.

3. The Court may, within 14 days from the submission of the claims referred to in paragraph 1. 1, prohibit the initiation of reorganisation proceedings, if the statement was made in violation of the provisions of paragraph 1. 1 or 2, or if included in it or in the supplementary documents data or statements are untrue. On order of the Court in this regard is the complaint.

4. in the case when a court order prohibiting the initiation of reorganisation proceedings, a statement referred to in paragraph 1. 1, does not produce legal effects.

Article. 495. [notice of the statement of the initiation of the reorganisation proceedings] 1. About the statement of initiation of the recovery operator announces the Gazette and economically and in at least one local log and one at nationwide. The advertisement can be placed also in another way.

2. the Notice referred to in paragraph 1. 1, may not take place before the expiry of the deadline referred to in article 2. 494 paragraph. 3, and in the event of a release in this period by court order prohibiting the initiation of reorganisation proceedings – before considering a complaint on this provision.

Article. 496. [Day of the reorganization proceedings] 1. Date notice statements referred to in article 2. 494 paragraph. 1, in the Gazette and the economic is the day of the initiation of reorganisation proceedings.

2. From the date of the initiation of reorganisation proceedings the entrepreneur shall submit an application for entry of the initiation of the reorganisation proceedings to the competent registry.

Article. 497. [the establishment of judicial overseer] 1. After the initiation of reorganisation proceedings, its duration, the Court lays down for the trader and the judicial administrator may appoint an expert, referred to in article 2. 31.2. To the supervisor, established on the basis of paragraph 1. 1, shall apply mutatis mutandis the provisions of judicial overseer in insolvency proceedings, subject to the provisions of paragraph 2. 3.3. The entrepreneur shall conclude with the Superintendent of the judicial contract of execution of judicial overseer and pay him a monthly salary of double the average monthly salary in the business sector without payments from profit in the fourth quarter of the previous year, as announced by the President of the Central Statistical Office. Monthly salary of supervisors of court which has the task to account for goods and services tax shall be increased by the amount of the goods and services tax, as determined in accordance with the applicable rate of tax.

Article. 498. [effects of reorganization proceedings] 1. The date of the initiation of reorganisation proceedings: 1) freezes the obligations the trader;

2) freezes rise to interest payable by the trader;

3) set-off of receivables is acceptable, taking into account the provisions of art. 89;

4) may not be brought against the trader security procedure and enforcement, and initiated are subject to suspension under the law, with the exception of the restraining measures and enforcement of claims not covered by the agreement.

2. The Court may at the request of the operator to change the interim issued to safeguard pecuniary claims, in particular by repealing the made.

3. (repealed).

4. The provisions of paragraph 1. 1 does not apply to claims arising out of the agreement referred to in the Act referred to in the article. 77 paragraph 1. 4:1) the obligation to establish financial security, this supplementary security, in order to take account of fluctuations in the value of the collateral, or the value of the secured financial claim or 2) permission to withdraw cash, financial instruments or credit claims as collateral in Exchange for a fee for the replacement or change of such security is laid down were on the initiation of reorganisation proceedings and the secured financial claim arose before the date of the establishment of financial security , including collateral, supplementing or replacement.

5. the opening of reorganisation proceedings shall not affect the rights set out in the agreement, the compensation clause, referred to in the Act referred to in the article. 77 paragraph 1. 4. Article. 499. [effect of reorganization proceedings legal proceedings] 1. The opening of reorganisation proceedings has no effect on bringing a case to court against the trader litigation, including bankruptcy proceedings on application by the creditor, and the administrative procedure.

2. in the event that the creditor's bankruptcy petition, the Court shall defer its diagnosis pending the completion of the reorganisation proceedings or will connect the diagnosis application with approval of the agreement.

3. the provision of paragraph 1. 2 does not exclude the possibility of security assets based on art. 36 – 43.

Article. 500. [effects in terms of labor law] in matters of labour law the initiation of reorganisation proceedings effect as a declaration of bankruptcy, with the exception of cases relating to the protection of workers ' claims in the event of the insolvency of their employer.

Article. 501. [prohibition of disposal and charge the estate of entrepreneur] 1. From the date of the initiation of reorganisation proceedings until final decision as to the approval of the agreement or does not proceed to an entrepreneur may not dispose of or encumber its assets. The provisions of article 4. 81 and 82 shall apply mutatis mutandis.

2. The provisions of paragraph 1. 1 does not apply to things sold business entrepreneur.

Article. 502. [Plan] the Recovery Plan referred to in article 2. 494 paragraph. 2, should ensure the restoration of the entrepreneur's ability to compete on the market. The plan should include a justification. Provision of art. 280 shall apply mutatis mutandis.

Article. 503. [specify how the restructuring of obligations] 1. How to repair companies should specify the restructuring of liabilities, which may be covered by arrangements in insolvency proceedings, assets and employment in the enterprise.

2. To determine how the restructuring of obligations shall apply mutatis mutandis the provisions of the proposals for the restructuring of liabilities reported in insolvency proceedings, with the possibility of the conclusion of the agreement.

3. proposals for restructuring the assets of entrepreneurs should indicate how much of the assets will be disposed of, leased or hired, identify ways to dispose of and what will be obtained. These proposals may not include assets which do not constitute property of the trader, unless the owner gives his consent in writing.


4. proposals for employment restructuring should indicate the total number of employees, the number of workers made redundant and the principle of exemptions, the number of workers employed, and employment policies, as well as the financial implications of these changes.

Article. 504. [System restructuring obligations] followed by a commitments Restructuring by the agreement concluded at the meeting of creditors.

Article. 505. [the meeting of creditors on the approval of the agreement] 1. The deadline for the meeting of creditors shall be determined entrepreneur, in consultation with the supervisor.

2. Creditors cannot take place earlier than after the expiry of one month from the date of the recovery proceedings.

3. The trader shall notify creditors about the time and place of the meeting of creditors by registered letter or proof of service at least two weeks before the meeting. Along with the notice must be served to the creditors the recovery plan.

Article. 506. [Creditors shall be entitled to participate in the Assembly] meeting of creditors shall be entitled to participate the creditors who were informed of the date of the Assembly, or despite the absence of notice notify supervisors of judicial participation, and the trader does not deny the existence of their claims.

Article. 507. [Leading the creditors '] the creditors ' lead overseer.

Article. 508. (repealed).

Article. 509. [voting system] 1. The vote on the agreement can be carried out in groups of creditors. The Division into groups is made. Provision of art. 278 shall apply mutatis mutandis.

2. At the meeting of creditors, the creditors shall vote with the sum of their claims, which were placed on the list of claims made by the entrepreneur with the behavior of the requirements of article 3. 245-251.

3. The creditors who have not been included in the list, and who reported participating in a meeting of creditors, vote with the sum of reported claims up to the amount of niezaprzeczonej by the trader.

Article. 510. [the adoption of the agreement] 1. The layout is adopted if give him most of the creditors entitled to participate in the meeting of creditors having a total of two-thirds of the total debt eligible to vote.

2. If the creditors voted in groups, the provision in article. 285 shall apply mutatis mutandis.

Article. 511. [Protocol of the Assembly] 1. Of the Congregation shall be drawn up, which should include woof and Exchange creditors voting for and against the system layout.

2. for the meeting of creditors in matters not regulated by this part shall apply mutatis mutandis the provisions of article 4. 196-198. 283 paragraph 1. 1-3 and art. 284. Article. 512. [the creditors Again] 1. Failure to the layout does not exclude the possibility of the convening of the meeting of creditors, to which it is allowed to request new proposals for restructuring and other changes in the reorganization plan.

2. The date of the creditors ' judicial overseer again announces to the Assembly, for which the system was not adopted.

3. Put previously by the layout of the voice of the creditor, who has not appeared on the regathering, retains power in the calculation of the results of the vote if new proposals are for the creditor no less favourable than the proposal, which had previously voted.

Article. 513. [charges against hand] 1. Each of the creditors entitled to share in the Assembly may submit complaints against the system.

2. The allegations may report the creditor entitled to participate in the Assembly, if it proves that the system may make it difficult to redress.

3. Complaints be lodged with the Court within a week of the conclusion of the agreement. For the creditors, who have not been informed about the meeting of creditors, this time limit shall run from the date of the notice referred to in article 2. 514 paragraph. 1. Article. 514. [approval of layout] 1. The Court shall approve the layout after the hearing. Of the date of the hearing shall be made in accordance with the notice provision, art. 221 and by advertisement in the Gazette and notify the economic operator and the person who brought the allegations.

2. the Court, in approving the layout, can establish a judicial administrator to run-time system. Provision of art. 497 shall apply mutatis mutandis.

3. The order of the approval agreement shall be entitled to appeal.

Article. 515. [conditions for refusal to certify system] 1. Court refuses to approve the agreement, if: 1) there was no basis for the conduct of reorganisation proceedings;

2) the trader has not submitted required on documents;

3) data contained in the documents and declarations of the entrepreneurs were untrue;

4) the trader does not notify all known creditors of the date of the meeting of creditors;

5) Court supervisor had no opportunity to exercise supervision;

6) in the course of the proceedings violated the law that may have an impact on the outcome of the vote;

7) the trader sold or ordered their property or give certain creditors greater benefits in violation of the provisions of article 4. 501;

8) from the circumstances of the case show that the arrangement will not be made;

9) the system is unfairly prejudicial to creditors, who brought the allegations;

10) adopted a recovery plan does not provide restore trader's ability to compete on the market.

2. In the event of the circumstances referred to in paragraph 1. 1, paragraph 3, 9 and 10, the Court may approve the layout, if the trader's documents were false information for reasons independent from the entrepreneur, or that did not have significant effect on the course of the proceedings, and when it is clear that on the basis of the agreement, creditors will be satisfied to an extent not less favourable than in the case of bankruptcy proceedings involving the liquidation of the assets of the bankrupt.

3. Denial of approval of layout effects such as the repeal of the layout. In case of refusal of approval of the reasons referred to in paragraph 1. 1 paragraphs 1 to 3 and 7, interest on obligations of the entrepreneur due for the period of reorganisation proceedings are entitled to double the amount.

Article. 516. [binding agreement] 1. The arrangement involves all the creditors who were informed about the meeting of creditors, on which the conclusion of the agreement, and to those who made themselves known judicial supervisor their participation at the meeting of creditors, and the trader has denied the existence of their claims.

2. for the implementation of the agreement the recipe article. 296 shall apply mutatis mutandis.

Article. 517. [Claims covered by the agreement] 1. Agreement are covered by the claims included in the list of claims, if they have been confirmed by the creditors.

2. System are covered by the claims at issue, if a dispute about their existence or amount settled was after the approval of the agreement. In this case, the system are covered by the claims included in the list of claims, up to the amount declared by the entrepreneur leading the proceedings, and in cases of claims placed on this list, but reported by creditors, up to niezaprzeczonej by the trader.

Article. 518. [effects of layout] to the effects of the provisions of article layout. 291 and 292 shall apply mutatis mutandis.

Article. 519. [waiver of reorganisation proceedings] If reorganisation proceedings leads small and medium entrepreneur, redeems from under the law in the event of a system failure within a period of three months from the date of the initiation of the proceeding. In other cases, the procedure shall discontinue after four months from the date of its opening.

Article. 520. [set aside by a court system] 1. Court repeals the layout, if the entrepreneur does not perform the agreement or if the reasons referred to in article 1. 515 paragraph. 1 paragraphs 1 to 8 and 10, revealed during the execution of the agreement.

2. the Court may waive the layout, if the entrepreneur does not implement the recovery plan adopted in the course of reorganisation proceedings.

Article. 521. [proceedings for annulment of the agreement] 1. With the repeal of the layout of the Court at the request of the requested by each of the creditors or by persons who, in accordance with the agreement are entitled to supervise its execution.

2. If the request for a declaration of bankruptcy the trader who has entered into an arrangement in reorganization proceedings, the Court, in announcing the bankruptcy, the Office shall order revocation of the agreement.

3. set aside the agreement results in termination of the reorganisation proceedings. Besides the effects of the repeal of the provisions of article layout. 304 and 305 shall apply mutatis mutandis.



PART FIVE CRIMINAL PROVISIONS Art. 522. [Provide false data in the application for a declaration of bankruptcy] 1. Who being the debtor or the person entitled to represent the debtor who is a legal person or commercial company without legal personality, shall state in the application for the Declaration of bankruptcy or reorganization proceedings statement false information is punishable by imprisonment from 3 months to 5 years.

2. The same penalty shall be subject to, who being the debtor or the person entitled to represent the debtor who is a legal person or commercial company without legal personality, in bankruptcy proceedings or insolvency proceedings is given a court incorrect information as to the State of the debtor's assets.


Article. 523. [Hide assets belonging to the bankrupt] 1. Who's being fallen or the person entitled to represent the fallen, which is a legal person or commercial company without legal personality, does not seem to the liquidator all assets included in bankruptcy, books of account or other documents relating to his estate – shall be punishable by imprisonment from 3 months to 5 years.

2. The same penalty shall be subject to the who as a fallen or the person entitled to represent the fallen, which is a legal person or commercial company without legal personality, does not grant to the trustee or to the judge-Commissioner information relating to the assets of the bankrupt.



PART SIX changes in the LEGISLATION in FORCE, TRANSITIONAL PROVISIONS and final provisions and changes to the existing Article. 524. (omitted).



Article. 525. (omitted).



Article. 526. (omitted).



Article. 527. (omitted).



Article. 528. (omitted).



Article. 529. (omitted).



Article. 530. (omitted).



Article. 531. (omitted).



Article. 532. (omitted).



Article. 533. (omitted).



Article. 534. (omitted).



Article. 535. (omitted).



TITLE II transitional provisions Art. 536. [the application of the provisions of the existing] in cases where the declared bankruptcy before the date of entry into force of the Act, the provisions of the existing.

Article. 537. [application of the new provisions] in cases where before the date of entry into force of the law application for a declaration of bankruptcy, but not yet issued, provisions on bankruptcy, bankruptcy proceedings are conducted according to the provisions of the Act.

Article. 538. [the proceedings with a request for the opening of composition proceedings] 1. If the application for the opening of composition proceedings has been given before the date of entry into force of the law, but has not yet been decided on the opening of composition proceedings, the proceedings shall be conducted according to the provisions of the Act. The Court may require the debtor to file for bankruptcy with the possibility of the conclusion of the in accordance with the provisions of the Act.

2. In cases where the provision of open agreement has been issued before the date of entry into force of the Act, the provisions of the regulation shall be the President of the Republic of 24 October 1934 – Right of compulsory settlement proceedings (Journal of laws No. 93, item. 836, as amended), with the exception of article. 31 § 5, second sentence.

Article. 539. [the making of the entry in the national court register] in the cases referred to in article 1. 536 and 538 paragraph 1. 2, the entry in the national court register shall be made according to the provisions of the existing.

Article. 540. [the proceedings brought before the date of entry into force of the Act] to the proceedings initiated before the date of entry into force of the Act, on the basis of article. 172 of the regulation referred to in article 2. 545 paragraph 1, the provisions of the existing.

Article. 541. (omitted).

Article. 542. (omitted).

Article. 543. [Previous insolvency proceedings] Whenever the provisions of separate mention is made of "insolvency proceedings" shall mean insolvency proceedings involving the liquidation of the assets of the bankrupt.

Article. 544. [Previous arrangement] Whenever the provisions of separate mention is made of "compulsory settlement proceedings" shall mean also the bankruptcy with the possibility of the conclusion of the agreement.



SECTION III final provisions Art. 545. [the provisions repealed] are hereby repealed: 1) Regulation of the President of the Republic of 24 October 1934-insolvency law (Journal of laws of 1991, no. 118, item 512, 1994, no. 1, item 1, of 1995 No. 85, item 426, 1996 No. 6, item 43, no. 43, item 189, no. 106, item 496. and no 149.703, 1997 # 28 , item. 153, Nr 54, poz. 349, no. 117, item. 751, no. 121, item. 770 and No 140, item. 940, 1998, no. 117, item. 756, 2000 No 26, poz. 306, no. 84, item. 948, no. 94, item. 1037 and # 114, poz. 1193 and 2001 # 3, item. 18);

2) Regulation of the President of the Republic of 24 October 1934 – introductory provisions bankruptcy law (Journal of laws No. 93, item. 835, and from 1946 # 31, item 197, no. 57, item 321 and no. 60, item 329);

3) Regulation of the President of the Republic of 24 October 1934 – Right of compulsory settlement proceedings (Journal of laws No. 93, item. 836, from 1950, no. 38, item 349, 1990, no. 55, item 320, 1996 No. 6, item 43 and No. 43, item 189 and 1997 No. 96, item 592, no. 121, item 770 & # 133 , item. 885). 546. [entry into force] this Act shall enter into force on 1 October 2003, except that: 1) in the case of entrepreneurs, who have made requests, referred to in article 1. 12 paragraph 1. 1 of the Act of 30 October 2002 on State aid to businesses of particular interest to the labour market (OJ No 213, poz. 1800, as amended), and the corresponding debtors jointly and severally liable, together with the entrepreneurs party reorganisation proceedings conducted under this Act, the provisions of this law on reorganisation proceedings shall enter into force after 14 days from the date of the notice, except that the reorganisation proceedings does not include civil liabilities and public covered by proceeding on the basis of the provisions on the public for entrepreneurs of particular relevance for the labour market, if the entrepreneur is a party to such proceedings at the time of the announcement the statement of initiation of the recovery in the Gazette and;

2 the provisions of article 5). 451. 454-470, art. 481. 482 shall apply from the date of accession of the Republic of Poland to the European Union.



 

 

1) this Act shall be made in respect of its implementation of the regulation the following directives of the European Communities: 1) of Directive 2001/17/EC of 19 March 2001 on the reorganisation and winding-up of insurance undertakings (OJ. EC-L 110 of 20.04.2001);

2) of Directive 2001/24/EC of 4 April 2001 on the reorganisation and winding-up of credit institutions (OJ. EC-L 125 of 05.05.2001).

The data relating to the Declaration of the European Union, provided in this law-on the day of the Republic of Poland in the European Union membership-applies to the notice of those acts in the official journal of the European Union-Special Edition.

[1] Article. 13 paragraph 1. 2A added by art. 4, paragraph 1 of the law of 28 November 2014. amending the law on the national court register and certain other laws (OJ., 1924). The change came into force on January 1, 2015.

[2] Repealed by article. 1 paragraph 12 of the law of 14 June 2007 amending the law on housing cooperatives and amending certain other acts (Journal of laws No. 125, item 873), which entered into force on 31 July 2007.

[3] on the basis of the judgment of the Constitutional Court of 26 February 2013 (OJ, item 351) art. 157 paragraph 1. 1, in so far as the persons entered on the list of candidates for Trustees requires obtaining a license administrator, is compatible with article. 2 the Constitution of POLAND.

[4] Article. 227 are added determined by art. 4 of the Act of 26 September 2014, amending the law on public finances and some other laws (OJ. 1626). The change came into force on January 1, 2015.

[5] Article. 361 paragraph. 2 added by article. 4 paragraph 2 of the Act of 28 November 2014. amending the law on the national court register and certain other laws (OJ., 1924). The change came into force on January 1, 2015.

[6] on the basis of article. 5 of the Act of 29 August 2014. amending the law-bankruptcy and rehabilitation law, the law on the national court register Act and about the cost of court in civil matters (OJ item 1306), the application for a declaration of bankruptcy of a natural person nieprowadzącej business will not be rejected on the basis of article. 4914 paragraph. 2 point 1 as amended. by law, if insolvency proceedings were discontinued on the basis of article. 361.