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Act Of 28 February 2003 Bankruptcy

Original Language Title: USTAWA z dnia 28 lutego 2003 r. Prawo upadłościowe

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ACT

of 28 February 2003

Bankruptcy law 1)

PART ONE

GENERAL PROVISIONS ON INSOLVENCY PROCEEDINGS AND THE EFFECTS OF THE INSOLVENCY PROCEEDINGS

TITLE I

General provisions

SECTION I

Introductory provisions

Article 1. [ Regulatory scope] [ 1] 1. The Act regulates:

1) the rules of the joint investigation of creditors ' claims from insolvent debtors being entrepreneurs;

2) the rules for the pursuit of claims from insolvent debtors who are natural persons not engaged in business activities;

3) the effects of bankruptcy;

4) the principle of the death of a fallen obligation as a natural person;

5) (repealed)

2. The provisions of the Act shall also apply to other entities specified in the Act.

Article 2. [ How to conduct the procedure] 1. The procedure governed by the law shall be such that the claims of creditors may be satisfied as far as possible and, if reasonable grounds permit, the existing debtor's undertaking has been retained.

1a. The procedure to be governed by the Act on natural persons referred to in art. 5, it shall also be possible for a reliable debtor to be able to depart.

2. The proceedings settled by the Act against natural persons not engaged in economic activity should be conducted so as to enable the waiver of the liabilities of the bankrupt not executed in the bankruptcy proceedings and, if possible, to satisfy the claims creditors in the highest possible degree.

Article 3. [ Grounds for initiating the procedure] The proceedings regulated by the Act can only be initiated upon a request made by the entities specified in the Act.

Article 4. [ Relevant application of the provisions] The provisions of Part One shall apply mutatis mutandis to other types of proceedings which are set out in the Act, unless a specific provision provides otherwise.

SECTION II

Subjective scope of application

Article 5. [ Entities to which the provisions of the Act apply] 1. The provisions of the Act apply to entrepreneurs within the meaning of the Act of 23 April 1964. -Civil Code (Dz. U. of 2014 items 121 and 827 and of 2015. items 4), if the Act does not provide otherwise.

2. The provisions of the Act shall also apply to:

1) limited liability companies and non-business joint-stock companies;

2) business associates of commercial companies, bearing the responsibility for the company's obligations without limitation of all its assets;

3) partners of the partner company.

Article 6. [ Prohibition of announcing bankruptcy] Unable to declare bankruptcy:

1) The Treasury;

2) units of local government;

3) public self-contained health care facilities;

4) institutions and legal persons created by statute, unless the Act states otherwise, and created in implementation of the obligation imposed by the Act;

(5) natural persons who are engaged in an agricultural holding which is not engaged in other economic or professional activities;

(6) HEIs;

(7) investment funds.

Article 7. [ Application for bankruptcy in the event of death of an entrepreneur] In the event of the death of the entrepreneur, it may be declared bankrupt if the application for bankruptcy has been filed within one year from the date of his death. A request for a declaration of bankruptcy may be made by the creditor, as well as the heir, and the spouse and each of the children or parents of the deceased, even if they do not inherit the inheritance.

Article 8. [ Bankruptcy of individuals who have ceased their business activity] 1. The creditor may submit an application for the declaration of bankruptcy of a natural person who was an entrepreneur, also after the cessation of his business activity, if from the date of deletion from the relevant register the year has not expired. The proceedings shall be in accordance with the provisions of Title V of Part Three.

2. Paragraph Recipe 1 shall apply mutatis mutandis to persons who have ceased to be members of the personal commercial companies.

Article 9. [ Bankruptcy of persons carrying out an economic activity not declared in the register] A creditor may apply for a declaration of bankruptcy of a natural person who has actually engaged in an economic activity, even if it has not complied with the obligation to notify it in the relevant register, if, on the date of the cessation of its operation, the business has not expired one year The proceedings shall be in accordance with the provisions of Title V of Part Three.

Art. 9a. [ Announcement of bankruptcy and restructuring proceedings] A trader may not be declared bankrupt in the period from the opening of the restructuring proceedings to the end of the restructuring procedure or to the final redemption.

Article 9b. [ Application for bankruptcy and restructuring request application] 1. In the case of submission of an application for a declaration of bankruptcy and a restructuring application, the restructuring application shall be recognized in the first place.

2. The bankruptcy court shall withhold the recognition of the application for bankruptcy until the final decision on the restructuring application has been issued. The suspension of the application for a declaration of bankruptcy shall not exclude the possibility of securing the property.

3. If the cessation of the recognition of the application for bankruptcy precluded the interest of the general creditors, the provision of the paragraph. 2 does not apply. In such a situation, the bankruptcy court shall issue a decision to take over the application for the declaration of bankruptcy and the restructuring request for a joint recognition and settlement of one order. The bankruptcy court shall recognize the applications in the composition competent for the recognition of the application for the declaration of bankruptcy.

4. If the acquisition of an application for a declaration of bankruptcy and a restructuring application for a common sense would lead to a significant delay of the decision on the declaration of bankruptcy, to the detriment of the creditors, and the grounds for restructuring presented by the debtor in the restructuring application are known to the bankruptcy court, the bankruptcy court does not issue the order for the acquisition of applications for the joint recognition and recognizes the application for bankruptcy, as notified by the court restructuring.

SECTION III

Grounds for bankruptcy

Article 10. [ Debtor's insolvency] The bankruptcy is proclaimed in relation to a debtor who has become insolvent.

Article 11. [ Cessation of obligations] 1. The debtor is insolvent if it has lost the ability to carry out its due cash obligations.

(1a) It is not presumed that the debtor has lost its capacity to execute its due cash obligations if the delay in execution of the monetary liabilities exceeds three months.

2. A debtor who is a legal person or an organisational unit without legal personality, whose separate law grants legal capacity, is insolvent also when its pecuniary obligations exceed the value of his property, and the state of that legal personality shall be maintained for a period exceeding twenty-four months.

3. To the property referred to in paragraph. 2, the components which are not included in the mass of the bankruptcy shall not be included.

4. The monetary obligations referred to in paragraph 1. 2, not including future obligations, including obligations under suspensive conditions and obligations towards a partner or shareholder in the title of a loan or other legal act with similar effects referred to in art. 342 (s) 1 point 4.

(5) It is not presumed that the debtor's pecuniary liabilities exceed the value of his property if, according to the balance sheet of his liability, excluding the provisions for liabilities and liabilities to affiliated undertakings, they exceed the value of his assets, and the state shall be maintained for a period exceeding twenty-four months.

6. The Tribunal may dismiss an application for a declaration of bankruptcy if there is no risk of the debtor's loss of ability to carry out his due monetary obligations in a short time.

7. The provisions of the paragraph. 2-6 do not apply to the personal companies referred to in the Act of 15 September 2000. -Code of Commercial Companies (Dz. U. of 2013 r. items 1030, with late. zm.), hereinafter referred to as the "Commercial Companies Code", in which at least one partner in charge of the company's obligations without limitation of all its assets is a natural person.

Article 12. (repealed)

Art. 12a. [ The dismissal of an application for a declaration of bankruptcy on account of the contested nature of the claim] The court has requested the declaration of bankruptcy filed by the creditor if the debtor demonstrates that the claim is wholly contentious and that the dispute arose between the parties before the application for the declaration of bankruptcy was filed.

Article 13. [ Bankruptcy] 1. The Tribunal shall submit an application for a declaration of bankruptcy if the property of the insolvent debtor is not sufficient to meet the costs of the proceedings or only suffice to satisfy those costs.

2. The Tribunal may dismiss an application for a declaration of bankruptcy if it is found that the debtor's assets are debited with mortgages, pledge, registered pledge, treasury or sea mortgages to such an extent that the remaining assets of the debtor are not sufficient to cover the meet the costs of the proceedings.

2a. By further notice of the declaration of bankruptcy, the court shall determine whether the material collected in the case gives the basis for the termination of the entity entered in the National Court Register without carrying out the liquidation proceedings.

3. If it is prima facie evidence that the assets of the debtor are ineffective in accordance with the provisions of the Act, or if they have been carried out for the purpose of netting creditors, as well as where it is likely that the debtor has done other tasks legal acts which have been ineffective in accordance with the provisions of the law which have challenged the property sufficient to meet the costs of the proceedings, and the circumstances of the case indicate that the application of the provisions on the ineffectiveness and the challenge of the action of the fallen action will lead to the acquisition of assets with a value exceeding the expected amount costs, paragraph provisions. 1 and 2 shall not apply.

4. A determination to dismiss an application for a declaration of bankruptcy on the basis of a paragraph. 1 or 2 shall be announced.

Article 14. (repealed)

Article 15. (repealed)

Article 16. (repealed)

Article 17. (repealed)

TITLE II

Proceedings concerning the declaration of bankruptcy

SECTION I

Court

Article 18. [ Composition of the Court] The bankruptcy court recognizes the bankruptcy court as a part of three professional judges. The bankruptcy court is a district court-an economic court.

Article 19. [ Property of local court] 1. Cases of bankruptcy shall be recognized by the court competent for the main centre of the debtor's main activity.

1a. The main centre of the main activity is the place where the debtor regularly manages his economic activity and which, as such, is recognisable to third parties.

1b. In the case of a legal person and an organisational unit without legal personality, whose separate law grants legal capacity, it is presumed that the main centre of its core business is the place of establishment.

1c. In the case of a natural person pursuing an economic or professional activity, it is presumed that the main centre of its primary activity is the principal place of business or professional activity; in the case of any other person The main centre of the main activity is presumed to be the habitual residence of that person.

2. (repealed)

3. If the debtor is not in the Republic of Poland of the main centre of the main activity, the court of the place of habitual residence or the seat of the debtor is competent, and if the debtor is not in the Republic of Poland the place of habitual residence or seat, the court is competent in which the debtor's assets are located.

4. If it is found that another court is competent, the case shall be referred to the court. The decision to refer the case shall not be entitled to a complaint. That provision shall be binding on the court to which the matter has been referred. The actions taken in the wrong court remain in force.

SECTION II

Application for a declaration of bankruptcy

Article 20. [ Eligible for bankruptcy filing] 1. An application for a declaration of bankruptcy may declare the debtor or each of its personal creditors.

2. The application may also report:

1. in relation to an open company, a partnership, a limited partnership and a limited joint-stock company, each of the partners responsible without limitation for the obligations of the company;

2) in relation to legal persons and organisational units without legal personality, to which a separate law grants legal capacity-anyone who, on the basis of a law, a company or statute agreement, has the right to hold the debtor's affairs and to its represent, alone or in combination with other persons;

3) in relation to a state-owned company-also the founding body;

4) in relation to a one-man company Treasury-also a minister competent for the Treasury;

5. in relation to a legal person, a public company, a partner company and a limited partnership and a limited joint-stock company, in liquidation-each of the liquidators;

6) in relation to the legal entity entered into the National Court Register-a curator established on the basis of art. 26 par. 1 of the Act of 20 August 1997. o National Court Register (Dz. U. of 2013 r. items 1203, with late. zm.);

7. in relation to a debtor who has been granted public aid of a value exceeding EUR 100 000, the authority granting the aid;

8) in relation to the debtor, against whom the execution is carried out by the compulsory administration or by the sale of the enterprise, on the basis of the Code of Civil Procedure-the administrator established in the proceedings.

Article 21. [ Obligation of the debtor to submit an application for a declaration of bankruptcy] 1. The debtor shall be obliged, not later than thirty days from the day on which the basis for the declaration of bankruptcy occurred, to report in the court an application for the declaration of bankruptcy.

2. If the debtor is a legal person or any other organisational unit without legal personality, the separate act of which grants legal capacity, the obligation referred to in the paragraph. 1, it is incumbable on anyone who, on the basis of a bill, a company or statute agreement, has the right to pursue the affairs of the debtor and to represent it, alone or in combination with other persons.

3. The persons referred to in paragraph. 1 and 2, shall be liable for the damage caused by the failure to apply the application within the period specified in the paragraph. 1, unless they are not guilty. Those persons may free themselves from liability, in particular if they show that within the time limit laid down in the said paragraph. 1 the restructuring proceedings have been opened or the agreement has been approved in the procedure for the approval of the agreement.

(3a) In the event of an indemnification by the creditor of an insolvent debtor, the injury referred to in paragraph 1 shall be presumed to be presumed to have been compensated 3, shall include the amount of the creditor's unfulfilled claim vis-vis the debtor.

4. (repealed)

5. The persons referred to in paragraph. 1 and 2, shall not be liable for the failure to submit an application for a declaration of bankruptcy at a time when the execution is carried out by the enforcement board or by the sale of the company, on the basis of the provisions of the Code of Civil Procedure, if the obligation to apply for a declaration of bankruptcy arose at the time of the execution of the execution.

Article 22. [ Content of the bankruptcy filing] 1. The application for a declaration of bankruptcy should include:

1) the name of the debtor or its name and the PESEL number or number in the National Court Register, and in the absence thereof-other data enabling its unambiguous identification, place of residence or seat, address, and if the debtor is a company, a legal person or any other entity which does not have legal personality, the separate legal capacity of which is granted legal capacity, the names of the representatives of the liquidators, if they are established and, in the case of a company, names and residence of the members responsible for the the company's obligations without limitation of all its assets;

2) an indication of the place where the main centre of the debtor's primary activity is located;

3) an indication of the circumstances justifying the application and their prima facie evidence;

4) information whether the debtor is a participant governed by the law of Poland or the law of another Member State of a payment system or securities settlement system within the meaning of the Act of 24 August 2001. the finality of settlement in payment systems and securities settlement systems and the rules for the supervision of these systems (Dz. U. of 2013 r. items 246 and 1036) or not a participant in the interoperable system within the meaning of this Act;

5) information as to whether the debtor is a public company within the meaning of the provisions of the Act of 29 July 2005. public offering and conditions for the introduction of financial instruments to an organised trading system and on public companies (Dz. U. of 2013 r. items 1382).

2. (repealed)

2a. (repealed)

3. If the application is notified by the creditor, the provision of the paragraph. 1 point 4 shall not apply.

Article 22a. [ Advance on expenses in the course of proceedings concerning the declaration of bankruptcy] The applicant shall pay an advance on the expenditure in the course of the proceedings concerning a declaration of bankruptcy at the rate of uniformity of the average monthly remuneration in the enterprise sector without payment of the profit prizes in the third quarter of the previous year, announced by the President of the Central Statistical Office and together with the application shall provide proof of its payment. In the absence of payment of the advance, the chairman shall call for the advance payment within a week to be paid in accordance with the repayment of the application.

Article 23. [ Scope of application and annexes thereto] 1. If the application for bankruptcy declares the debtor, the application shall attach:

1) the current list of assets with an estimate of the valuation of its components;

2) the balance sheet drawn up by the debtor for the purposes of the proceedings, for the day falling within thirty days before the day of submission of the application;

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

4) a statement on the payments of receivables or other debts made within six months prior to the day of submission of the application;

5) an inventory of the entities liable to the debtor together with the addresses, with the determination of the claim, the date of their creation and the time limits for payment;

6) a list of enforceable titles and executive titles against the debtor;

7) information on proceedings concerning the establishment on the property of the debtor of mortgages, pledges, registered pledges, treasury pledges and mortgages and other charges subject to the entry in the perpetual ledger or in the registers as well as other judicial, administrative, judicial and amicable proceedings in respect of the debtor's property;

8) information about the place of residence of the representatives of the company or the legal person and liquidators, if they are established.

2. (repealed)

3. If the debtor cannot attach to the application the documents referred to in paragraph. 1, indicate the reasons for their non-connection and the likelihood of them being made.

Article 24. [ Probable existence of the claim] If the claim for bankruptcy is declared by the creditor, he/she shall be entitled to claim his claim.

Article 25. [ Statement on the veracity of the data contained in the proposal] 1. With the application for the declaration of bankruptcy the debtor shall be obliged to make a statement in writing on the veracity of the data contained in the application.

2. If the declaration referred to in paragraph 1, it is not true, the debtor is liable for the damage caused by the application of incorrect data in the application for bankruptcy.

3. In the event of failure to submit the statement referred to in paragraph. 1, the request shall be returned without the debtor being called on to complete it.

SECTION III

Provisions on proceedings

Article 26. [ Participants to the proceedings] 1. The participant of the proceedings for a declaration of bankruptcy shall be any person who has filed for bankruptcy, and the debtor.

2. On application for a declaration of bankruptcy of a state-owned company or a single company of the State Treasury, the court shall immediately notify the founding body or the Minister responsible for the Treasury, respectively, which within two weeks may give an opinion to the court in the case.

Article 26 1 . [ Appointment of a Curator] 1. If the debtor has no procedural capacity and does not act as a statutory representative, and also when in the composition of the bodies of the debtor which is a legal person or an organisational unit without legal personality, the separate law of which is granted the legal capacity, there are deficiencies preventing them from acting, the bankruptcy court establishes a curator for him. Curator established on the basis of art. 26 par. 1 of the Act of 20 August 1997. on the National Court Register or on the basis of Article 42 of the Act of 23 April 1964. -Civil Code, refers to the curator referred to in this provision.

2. The appointment of a curator shall not constitute an obstacle to the removal, on the basis of general principles, of the lack of capacity of the trial or the deficiencies in the composition of the bodies preventing their action.

3. The remuneration of the curator shall be determined by the court in the amount appropriate to the probation effort of the curator The remuneration of the probation officer in charge of the settlement of the goods and services tax shall be increased by the amount of the goods and services tax determined in accordance with the applicable rate of the tax. The order of the court shall be entitled to a complaint.

4. The provisions of the paragraph. 1 and 3 shall apply mutatis mutandis in the event of the death of the debtor after the filing of the application for a declaration of bankruptcy.

Article 27. [ The judgment of the case by the court] 1. The Tribunal shall recognize the case in an implicit meeting.

2. The Tribunal may, in an implicit meeting, carry out an inquiry in whole or in part also if a hearing has been established.

3. The order on the declaration of bankruptcy of the court shall issue within two months from the date of submission of the application. A complaint against the order for bankruptcy of the court of the second instance shall be known within one month from the date on which the case file was presented to it.

4. The provisions and orders issued in the proceedings concerning the declaration of bankruptcy shall be entered in the Central Register of Restructuring and Independence referred to in art. 5 of the Act of 15 May 2015. -Restructuring law (Dz. U. Entry 978), hereinafter referred to as the "Register", together with the information on the date and the manner in which the appeal is lodged. The provisions, regulations and other documents contained in the Registers shall be accessible to the participants in the proceedings.

Article 28. [ Formal deficiencies of the proposal] 1. An application for a declaration of bankruptcy which does not correspond to the requirements laid down in the Act or the unpaid paid shall be returned without a call for addendum or payment of the application, if it has been notified by the applicant represented by the lawyer or Legal adviser.

2. Within a period of one week from the date of service of the order for reimbursement, for the reasons set out in paragraph 2. 1. A request made again, corresponding to the statutory requirements and duly paid out, shall have effect from the date of the original contribution. Such a result does not occur in the event of another return for the same reason.

Article 29. [ Reimbursement of request] If, as a result of the absence or indication of the incorrect address of the debtor or the failure to execute other orders, the case may not be given a further run, the request for bankruptcy shall be returned.

Article 29a. [ Recognition of the withdrawal of an application for a declaration of bankruptcy as inadmissible] (1) The Court of First Instance may accept the withdrawal of an application for a declaration of bankruptcy as inadmissible if it would lead to the hives to be taken by creditors.

2. The performance by the debtor of the obligations to the applicant after filing an application for bankruptcy shall not affect the further course of the proceedings.

Article 30. [ Hearing of participants] 1. The Tribunal may, if necessary, hear the debtor and the claimant, and on the bankruptcy of a state enterprise or a single company of the State Treasury, also the founding body or the representative of the minister respectively. the Treasury responsible for the Treasury.

2. The court shall hear the debtor with the observance of the provisions of the Code of Civil Procedure of the hearing of the parties, upon receipt of the pledge from him.

3. If the hearing referred to in paragraph 1 is to be heard. 2, it was impossible or excessively obstructed, the court may request the debtor to make an explanation in writing with a signed notarized signature, under the penalty of criminal liability for filing false statements. These explanations are evidence of the case.

4. The provision of the article shall apply to the hearing of other persons. 217.

Article 30a. [ The inadmissibility of the evidence from the expert's opinion] No evidence of the expert's opinion shall be carried out in proceedings concerning the declaration of bankruptcy, except as provided for in Article 56b ust. 1.

Article 31. (repealed)

Article 32. [ Judicial costs] 1. (repealed)

2. If the creditor withdrew the request for bankruptcy after the debtor's performance of the obligations referred to in art. 11, the costs of the court shall be borne by the debtor.

3. The court costs shall be charged to the debtor in the event of a dismissal of the application under Article 3. 13.

4. In the cases referred to in paragraph. 2 and 3, the debtor shall also be required to reimbursable the costs incurred by the creditor.

5. From the applicant, the court may request an advance payment of expenses in the proceedings concerning the declaration of bankruptcy in an amount exceeding the sum specified in the art. 22a under the rigorous rejection of the proposal. The decision of the court on the advance payment of the complaint shall not be granted. The request for an additional advance shall not suspend the recognition of the application for a declaration of bankruptcy.

(6) The expenditure shall be paid in the first place of the advance paid by the applicant.

Article 33. [ The complaint to the order of the court] 1. The complaint shall be entitled to the order of the court terminating the proceedings and in the cases specified in the Act.

2. From the order of the court of the second instance, the cassation shall not be entitled.

3. An application for a declaration of illegality of a decision shall not be granted.

Article 34. [ Submission of the application in bad faith] 1. In the case of the submission by the creditor of the application in bad faith, the court, dismissing the application for bankruptcy, will charge the creditor the costs of the proceedings and may order the creditor to make a public statement of the relevant content and in the appropriate form.

2. In the event of dismissal of the creditor's application for the declaration of bankruptcy filed in bad faith, the debtor, and also the third party shall have a claim against the creditor for the remediation of the damage.

Article 35. [ Appropriate application of the provisions of the Civil Procedure Code] In cases not governed by the law, the provisions of the first part of the First Code of Civil Procedure, with the exception of the provisions on suspension and the resumption of proceedings, shall apply mutatis mutandis to bankruptcy proceedings.

SECTION IV

Protective handling

Chapter 1

General provisions

Article 36. [ Security of debtor's property] Upon application for a declaration of bankruptcy, the court may, at the request of or ex officio, secure the assets of the debtor. The court shall immediately rule on the security of the court.

Article 37. [ Appropriate application of the provisions of the Civil Procedure Code] The provisions of the Code of Civil Procedure of the Protection Procedure shall apply mutatis mutandis in matters not governed by the Act to the Sectors. Article Article 396 of the Code of Civil Procedure does not apply.

Chapter 2

Security of the debtor's assets

Article 38. [ Establishment of a temporary legal watchman] 1. The court may secure the debtor's assets by the establishment of a temporary judicial supervisor. To the interim legal supervisor the provisions of Article. 157, art. 157a, art. 159-161, art. 166 par. 6, art. 167 par. 2, art. 167a, art. 167b and art. 170-172 shall apply mutatis mutandis.

1a. A determination to establish a temporary legal supervisor, appeal or change of the person of the interim legal supervisor and information on the right to waive the security by the appeal of the interim legal supervisor It is proclaimed.

1b. The Tribunal shall determine the remuneration of the interim legal supervisor, taking into account the work effort, the scope of the proceedings, the degree of difficulty and the time of the performance of the duties.

1C. The remuneration of the interim legal supervisor shall be determined in the amount of from one quarter of the average monthly remuneration in the enterprise sector without payment of the profit prizes in the third quarter of the previous year, announced by the President The Central Statistical Office to its double.

1d. In particularly justified cases, a higher remuneration may be granted up to the four times the salary referred to in paragraph 1. 1c, if it is justified by the workload of the Temporary Supervisory Board, the extent of the action taken, the degree of difficulty and the time taken to perform the functions.

2. The remuneration of the provisional court supervisor and the reimbursement of the expenses necessary for the performance of the function shall be made by the court at its request filed within a week from the date of notification of the appeal or from the date of expiry of the function. The court may grant the interim supervisory authority an advance payment. The amount of the advance payment shall be paid in the first place from the advance paid by the applicant.

3. The court may oblige the interim legal supervisor to submit within the prescribed period a report covering, in particular, information on the financial condition of the debtor, the type and value of its assets and the anticipated costs of the proceedings bankruptcy. The report shall be submitted in electronic form and shall be entered in the Register.

Article 38a. [ Scope of management powers of the debtor after the establishment of the interim legal supervisor] The debtor after the establishment of the interim judicial supervisory authority shall be entitled to act as a regular management board. The consent of the provisional judicial overseer shall be required for the performance of activities exceeding the scope of the ordinary board of directors. The consent may also be granted after the action has been completed within thirty days of its implementation.

Article 39. [ Suspension of enforcement proceedings] 1. The Tribunal at the request of the applicant, debtor or interim legal supervisor may suspend the enforcement proceedings and to repeal the seizure of the bank account, if it is necessary to achieve the objectives of the bankruptcy proceedings. By revoking the seizure of a bank account, the court shall establish a provisional judicial overseer if it has not previously been established.

2. The debtor's disposition of funds in the bank account, the seizure of which has been revoked, shall require the consent of the interim judicial supervisory authority.

3. The order to suspend the enforcement proceedings and to revoke the seizure of the bank account shall be served by the creditor conducting the enforcement and the enforcement authority. The order shall be a complaint to the debtor and to the creditor leading the execution of the complaint.

Article 40. [ Establishment of compulsory management] 1. The court may use other means of security, including the security by the establishment of a compulsory administration over the debtor's assets, if there is a concern that the debtor will conceal his property or otherwise acted to the detrimental of creditors, and also when the debtor does not execute the temporary legal supervision orders.

2. By establishing the security by the compulsory administration, the court shall appoint a forced administrator and determine the scope and manner of the execution of the board.

3. The provisions of Article 3 shall apply mutatis mutandis to the operation of the debtor relating to his property covered by the compulsory management. 77-79.

4. To the liquidator of the compulsory provision of art. 38 par. 1a-3 and the provisions of the Law on the Syndication shall apply mutatis mutandis.

Article 41. (repealed)

Article 42. (repealed)

Article 43. [ Termination of security] After the announcement of the bankruptcy of a security in the form of a temporary judicial or compulsory administration, the insolvency of the debtor in the management board by the receiver shall fall as soon as the debtor has been placed under the bankruptcy estate. Other security measures applied by the court after the filing of the bankruptcy petition fall from the day of the bankruptcy.

CHAPTER V

(repealed)

Chapter 1

(repealed)

Article 44. (repealed)

Article 45. (repealed)

Article 46. (repealed)

Article 47. (repealed)

Article 48. (repealed)

Chapter 2

(repealed)

Article 49. (repealed)

Article 50. (repealed)

CHAPTER VI

Declaration of bankruptcy

Article 51. [ A declaration of bankruptcy] 1. Taking into account the application for a declaration of bankruptcy, the court shall issue a decision on the declaration of bankruptcy, in which:

1) lists the name of the debtor (the bankrupt) or his/her name, place of residence or seat, address and PESEL number or number in the National Court Register, and in the absence thereof-other data enabling his unambiguous identification;

2) (repealed)

3) (repealed)

4) calls on the creditors of the bankrupt to submit the claim within thirty days from the date of the notice of the notice of bankruptcy in the Register;

5) calls upon the persons to whom the rights are entitled and the personal rights and claims of the property belonging to the bankrupt, if not disclosed by the entry in the register, to their filing within thirty days from the date of the notice the provisions on the declaration of bankruptcy in the Registers under the rigorous loss of the right to rely on them in the insolvency proceedings;

6) appoint a Judge-Commissioner and Deputy Judge-Commissioner and the Syndicator;

7) means the hour of issue of the order, if the lapsed is a participant governed by the Polish law or the law of another Member State of a payment system or securities settlement system within the meaning of the Act referred to in art. 22 par. 1 point 4, or not being a participant in an interoperable system within the meaning of that Act.

2. The attitude of the declaration of bankruptcy shall be effective and enforceable from the date of its issue, unless the special provision provides otherwise.

2a. In the order of the declaration of bankruptcy shall indicate the basis of the jurisdiction of the Polish courts. Where Council Regulation (EC) No 1346/2000 is applicable, of 29 May 2000. on the insolvency proceedings (Dz. Urz. EC L 160 of 30.06.2000, p. 1), the order shall also specify whether the proceedings are of a principal or by a side-by-side nature.

Article 52. [ Date of issue of bankruptcy notice] The date of issue of the bankruptcy notice is the date of bankruptcy. In the event of a decision to declare bankruptcy after the retrial of the case following the repeal of the order by the court of second instance, the date of bankruptcy shall be deemed to be the date of the first order of bankruptcy.

Article 53. [ Notice of bankruptcy] 1. The attitude of the declaration of bankruptcy shall be announced.

2. The order for the declaration of bankruptcy shall be served on the receiver after prior notification to the receiver of the declaration of bankruptcy, the bankruptcy or his heir and the creditor who demanded the declaration of bankruptcy. The order for the declaration of bankruptcy of a State-owned company or a single company of the State Treasury shall also be served by the founding body or the Minister responsible for the State Treasury respectively. The notification of the receiver shall take place on the day of the declaration of bankruptcy and shall be effected by means of direct distance communication, in particular by telephone, fax or e-mail.

3. If the lapsed is a participant governed by the Polish law or the law of another Member State of the payment system or securities settlement system within the meaning of the Act referred to in art. 22 par. 1 point 4, or not being a participant in an interoperable system within the meaning of this Act, the order of bankruptcy shall be served also to the President of the National Bank of Poland, after prior notification to him at the time of issue the provisions on the declaration of bankruptcy.

4. If the fall is a public company within the meaning of the provisions of the Act of 29 July 2005. public offering and conditions for the introduction of financial instruments to an organised trading system and on public companies, the decision to declare bankruptcy shall also be served by the Chairman of the Financial Supervision Commission.

5. The declaration of bankruptcy shall be notified to the relevant tax chamber and the competent branch of the Social Insurance Institution, as well as to the judicial enforcement authorities conducting enforcement proceedings against the bankrupt. Notification of enforcement authorities shall take place on the day of the declaration of bankruptcy and shall be effected by means of direct communication at a distance, in particular by telephone, fax or e-mail.

6. If the fallen is the operator of a public telecommunications network or a provider of publicly available telecommunications services within the meaning of the provisions of the Act of 16 July 2004. -Telecommunications law (Dz. U. of 2014 items 243, 827 and 1198), announcing the bankruptcy shall be notified to the President of the Office of Electronic Communications. The notification shall take place on the day of the declaration of bankruptcy and shall be effected by means of direct communication, such as telephone, fax, electronic mail.

Article 54. [ Repeal of bankruptcy notice] 1. (repealed)

2. The court of second instance shall not be able to rule on the declaration of bankruptcy.

3. In the event of repeal of the decision to declare bankruptcy and the transfer of the case to the retrial of the receiver and the judge-the commissioner shall retain his/her powers, and the actions by them shall remain in force.

4. If, after the withdrawal of the decision to declare bankruptcy and the transfer of the case, the decision to approve the agreement or order for the opening of the restructuring procedure is issued, the proceedings in respect of the matter shall be taken the declaration of bankruptcy shall be redeemed.

Art. 54a. [ The complaint against the declaration of bankruptcy] 1. The creditor shall within one week from the date of the notice of the declaration of bankruptcy in the Registry and the creditor whose registered office or place of his habitual residence at the opening day of the proceedings were held abroad within thirty days As from the date of the Notice of bankruptcy, the Registry shall be entitled to a complaint concerning the declaration of bankruptcy only in the part concerning the jurisdiction of the Polish courts.

2. The lodging of a complaint shall be announced in the Register.

Article 55. (repealed)

Article 56. (repealed)

CHAPTER VII

Prepared Disposal

Article 56a. [ Application for approval of sales conditions] 1. The application for bankruptcy may be accompanied by an application for approval of the terms of sale of the debtor's undertaking or its organised part or assets constituting a significant part of the enterprise.

2. An application for approval of the terms of sale with regard to the assets covered by the registered pledge is not permitted if the contract for the establishment of a registered pledge provides for the acquisition of the subject of the pledge or its sale based on art. 24 of the Act of 6 December 1996. about the registered pledge and the register of pledges (Dz. U. 2009 r. Nr 67, pos. 569, with late. zm.), unless a written consent of the pledge is attached to the application. Article Recipe 330 shall apply mutatis mutandis.

3. The application for approval of the terms of sale shall be accompanied by a description and an assessment of the component covered by the application drawn up by the person entered on the list of forensic experts.

4. The application for approval of the terms of sale must include the terms of sale by indicating at least the price and the buyer. The terms of sale may be specified in a complex draft of the contract to be concluded by the receiver.

5. The application for approval of the terms of sale may provide for the issue of the buyer's undertaking on the day of the proposition of the debtor's In such a case, the application shall be accompanied by proof of payment of the full price to the deposit account of the court.

Article 56b. [ Sales price] 1. The sale, referred to in this chapter, to the entities indicated in art. 128 is allowed only at the sale price not lower than the estimate price. The assessment price shall be determined by the court on the basis of the expert's opinion.

2. The applicant and the prospective buyer shall declare whether or not the relations referred to in Article shall not be met between them and the debtor. 128.

Article 56c. [ Conditions for inclusion of the application for approval of sales conditions] 1. The Tribunal shall take into account the application for approval of the terms of sale, if the price is higher than the amount possible to obtain in the bankruptcy proceedings in liquidation on general terms, less the costs of the proceedings which would have to be borne in connection with the with decommissioning in such a mode.

2. The Tribunal may take into account the application if the price is close to the amount possible to obtain in the insolvency proceedings in liquidation on a general basis, less the costs of the proceedings which would have to be borne in connection with the liquidation of such mode, if there is an overriding public interest or the ability to retain a debtor's undertaking.

Art. 56d. [ Approval of sales conditions] 1. Taking into account the application, the court in the order of bankruptcy shall approve the terms of sale, specifying at least the price and the purchaser of the property which is the subject of the sale referred to in this chapter. In the order, the court may also refer to the conditions of sale specified in the draft contract.

2. A decision to dismiss the application for approval of the conditions of sale of the complaint shall be granted to the applicant, and to the decision taking into account the application, to each of the creditors. The complaint may be lodged within a week from the date of the Notice in the Register.

Art. 56e. [ Conclusion of the contract of sale] 1. Syndicate shall conclude the contract of sale on the terms specified in the order of the court no later than thirty days from the date of entitlement to that provision, unless the terms of the contract accepted by the court provided for a different time limit.

2. Conclusion of a contract of sale may take place only after the payment by the buyer of the entire price to the mass of bankruptcy or after the issuance of the syndicate to the price of the earlier deposit to the deposit.

3. To the effect of sales according to the provisions of this Chapter of the provisions of 313, art. 314 and art. It shall apply.

Art. 56f. [ Buyer's company edition] 1. If the application for approval of the terms of sale was accompanied by proof of payment of the full price to the deposit account of the court, the issue of the buyer's undertaking shall be immediately after the issuance of the decision on the declaration of bankruptcy.

2. The issue of the buyer's undertaking shall be directly to the purchaser's hands, with the participation of the Article Recipe 174 shall apply mutatis mutandis.

3. Until the order of the approval of the terms of sale and conclusion of the contract of sale, the buyer manages the acquired assets within the limits of the ordinary management at its own risk and responsibility.

4. A decision approving the terms of sale, the court obliges the purchaser to return the company to the hands of the receiver or debtor. The order shall be an enforcement order against the purchaser.

Art. 56g. [ A determination to issue a syndicated price to a deposit] 1. After the authorization of the terms of the sale of the court of office or at the request of the syndicate, the order of sale shall be decided upon by the administrator of the price deposited with the deposit.

2. In other cases than those referred to in paragraph. 1 about the issue of the price from the deposit, at the request of the purchaser, the court shall within thirty days from the date of the issue of the company to the receiver or debtor. The administrator or debtor may request that the price be detained in a deposit for the following two weeks in order to lodge an application for a claim for damages in accordance with the general provisions. Upon expiry of that time limit, the court shall immediately decide to issue the price of the deposit, unless a security request has been lodged.

(3) The provisions on the issue of the price of the deposit in the situations referred to in paragraph 3. 1 and 2 shall be held by a single court in a single composition.

Art. 56h. [ Application to the court for the repeal or amendment of the order approving the terms of sale] Within the period prescribed for the conclusion of the contract of sale, the receiver may submit a request to the court to set aside or amend the provisions approving the terms of sale if, after the provision of the order, the circumstances have changed or have been disclosed significant impact on the value of the asset being the subject of sale. The order taking into account the application shall be entitled to a complaint. The provisions of Article 4 56a-56g shall apply mutatis mutandis.

TITLE III

Effects of bankruptcy

SECTION I

Effects of bankruptcy on a fallen person

Article 57. [ Indication and release of all property by the bankrupt] 1. It is obligatory to indicate and issue the entire property to the syndicate, and to issue documents relating to its activities, assets and settlements, in particular the accounts, other records kept for tax purposes and correspondence. The execution of this obligation shall be confirmed by written declaration, which shall be submitted to the Judge-Commissioner.

2. The decision shall be given to the Judge-commissioner and to the receiver of any explanations needed concerning his or her assets.

3. The party-the commissioner may decide that the fallen entity being a natural person does not leave the territory of the Republic of Poland without his permission.

4. Paragraph Recipe 3 shall apply mutatis mutandis to members of a managing body of a bankrupt non-natural person.

5. At the order of the judge-commissioner referred to in paragraph. 3 and 4, there is a complaint.

Article 58. [ Application of coercive measures] 1. If the bankruptcy hides or hides his property in the case in which the order on the declaration of bankruptcy involving the liquidation of his property is issued, the judge-Commissioner may apply to the fallen means of coercion specified in the Code of Conduct for the enforcement of non-cash benefits.

2. The commissioner may apply the means of coercion against the bankrupt who abrogates his duties or after the declaration of bankruptcy is allowed to act to conceal the property, to burden him with apparent obligations or in any way impediments determination of the composition of the bankruptcy mass.

3. The commissioner shall repeal the coercive measures when the need for their application is determined.

4. The order on coercive measures shall be entitled to a complaint.

Article 59. (repealed)

Article 60. (repealed)

Article 60 1 . [ Turnover after the announcement of bankruptcy] After the announcement of bankruptcy, the entrepreneur is marketed under the previous company with the addition of the sign "in bankruptcy".

SECTION II

Effects of bankruptcy on the estate of a fallen estate

Chapter 1

Mass of bankruptcy

Division 1

General provisions

Article 61. [ Mass of bankruptcy] From the day of the declaration of bankruptcy, the estate of the fallen estate becomes a mass of bankruptcy, which serves to satisfy the creditors of the fallen.

Article 62. [ Composition of the mass of bankruptcy] The mass of bankruptcy shall consist of a property belonging to the bankrupt on the day of the bankruptcy and acquired by the bankrupt in the course of insolvency proceedings, with the exceptions laid down in the Article. 63-67a.

Article 63. [ Exclusions from the mass of bankruptcy] 1. Does not enter into the mass of bankruptcy:

1) property, which is excluded from execution under the provisions of the Act of 17 November 1964. -Code of Civil Procedure (Dz. U. of 2014 items 101, of late. zm.);

2) remuneration for the work of the bankrupt in the part not subject to occupancy;

3) the amount obtained from the execution of the registered pledge or mortgage, if the bankruptcy served as administrator of the pledge or mortgage, in the part attributable to the agreement appointing the administrator to the other creditors.

2. The praise of the congregation of creditors may exclude from the mass the bankruptcy other components of the fallen property.

Article 64. [ Property intended for help for employees of the fallen and their families] 1. The payment intended for assistance to the employees of the fallen and their families, constituting the funds collected in a separate bank account of the cash benefit of the social benefit fund, created under the provisions of the Sickness Benefit Fund social, together with the amounts resulting from the repayment of loans granted for housing purposes, the payment of bank interest from the funds of that fund and the charges levied on the services and benefits accruing from the payment of the loans granted social-funded projects organised by the fund, organised by the bankrupt, do not enter into the composition of the bankruptcy. The components of this property will mark the judge-commissioner.

2. The word referred to in paragraph 2. 1, the management of the collapsed, unless the liquidator was established, the curator or the representative or representative of the bankrupt established on the basis of the provisions on state enterprises, disbursing the funds collected in a separate bank account of the fund for purposes and in accordance with the rules laid down in the provisions on the social benefit fund.

3. The unused appropriations referred to in paragraph 1. 1, increase the Fund Guaranteed Employee Benefits.

Article 65. (repealed)

Art. 65a. [ receivables from the subparticipatement agreement] 1. [ 2] The subparticipation contract referred to in Article 4 (1) of the Sub-participatement Agreement, which is a part of the bankruptcy of a contract. 183 (1) 4 of the Act of 27 May 2004. o Investment funds and the management of alternative investment funds (Dz. U. of 2014 items 157, of late. zm.), do not enter the claims which are the subject of the contract.

2. The securitisation fund shall enter into the right of the bankrupt claim for receivables subject to exemption in accordance with paragraph 2. 1 and the securities of these claims.

3. Syndyk shall transfer to the securitisation fund the benefit received from the debtors for the claims referred to in paragraph 1. 1, and the debtors for the hedges of these claims.

Article 66. [ Exclusions from the bankruptcy mass of a participant in a payment system or securities settlement system] 1. The bankruptcy mass of a participant of a payment system or securities settlement system, referred to in art. 22 par. Article 1 (4) does not include the fallen property listed in Article 1 (4). 80, as well as other assets necessary for the performance of the obligations arising from participation in the system which arose before the declaration of bankruptcy, subject to the paragraph. 3.

2. In order to carry out the duties referred to in paragraph. 1 the operator of the system shall be authorised to dispose of the pelvic system.

3. The speech referred to in the mouth. 1, other after the performance of the duties resulting from participation in the system, enters into the mass of bankruptcy.

Article 67. [ Exemption of the object of the security established in connection with the participation in the system] 1. Subject to the provisions of Article 12 of the law referred to in art. 22 par. 1 point 4, the subject of the security established in connection with the participation in the payment system or securities settlement system within the meaning of the Act referred to in art. 22 par. 1 point 4, to the operator of this system or to a participant of that system, shall not enter into the mass of bankruptcy:

1) a participant of that system or a participant of the interoperable system cooperating with it, which has established this security,

2) which is not a participant in an interoperable system cooperating with that system,

3) any other entity that has established this security

-in the event of a declaration of bankruptcy of any one of them.

2. Subject to the provisions of Article 12 of the law referred to in art. 22 par. 1 point 4, the subject of the security established in favour of the National Bank of Poland, the central bank of another Member State within the meaning of the Act referred to in art. 22 par. In the event of the bankruptcy of any of them, point 4, or the European Central Bank, by an entity carrying out an operation with those banks or by any other entity shall not enter into bankruptcy in the event of a declaration of bankruptcy.

3. The rights of the entity for which the security referred to in the paragraph has been established. 1 or 2, to be covered by that security shall not limit the declaration of bankruptcy of the entity which has established that security.

Art. 67a. [ Property intended for assistance to participants in the security system] 1. The monies intended for assistance to the participants of the security system, constituting the funds collected in a separate bank account of funds of the aid fund created on the basis of the provisions of the Act of 7 December 2000. on the functioning of cooperative banks, their association and associations of associations (Dz. U. of 2014 items 109 and of 2015 items 1166), together with the amounts resulting from the repayment of loans granted for aid purposes, the payment of bank interest from the funds of that fund and the charges levied on the beneficiaries of the services and benefits financed by the This fund, organised by the bankrupt, is not part of the bankruptcy. The components of this property will mark the judge-commissioner. The decision of the Judge-Commissioner shall be entitled to a complaint to the fallen, to the creditors and to the participants in the protection scheme.

2. The word referred to in paragraph 2. 1, shall be managed by a bankruptcy unless the liquidator, curator or representative or representative of the fallen agent established under the terms of the contract of the security system has been established, disbursing the funds collected in the Fund's separate bank account for the purposes of and according to the rules laid down in the provisions of the law referred to in paragraph 1. 1, and the agreements of the security system.

3. So far the participants of the security system may decide to transfer the property referred to in paragraph. 1, to one of them or to a new entity, in order to create, with the use of this property, a new system of protection or its use in an existing security system.

4. In the event of failure to create a new system of protection or non-accession to the existing security system referred to in paragraph. 3, the property referred to in paragraph. 1, it shall be transferred to the existing security system participants, according to the amount of the payments made.

Division 2

Determination of the mass composition of the bankruptcy

Article 68. (repealed)

Article 69. [ Inventory] 1. The determination of the composition of the mass of bankruptcy shall be carried out by the preparation of inventory and inventory of receivables In the inventory of the inventory, the receiver shall recognise the rights, the movable property, the immovable property and the cash collected in the cash and on the bank accounts. The inventory of duties shall be drawn up on the basis of the accounts of the bankrupt and the uncontested documents.

(1a) If the receiver, on the basis of the accounts of the bankrupt and the uncontested documents, establishes that the insolvency mass consists of movable property, the property and the monies which he has not syndicated, he shall draw up an inventory of them. As they are involved, or their equivalent, the syndicate supplements the inventory.

(b) To assets which have not been taken into account by the syndicate as a result of an ineffective action, the provisions of paragraph 1 (b) of the The 1a shall apply mutatis mutandis.

1c. Census of receivables. 1a the second sentence and paragraph 1. 1b shall apply mutatis mutandis.

1d. Spies referred to in paragraph. 1-1c, consists in electronic form and is included in the Registry.

1e. The Minister of Justice shall determine, by means of a regulation, the pattern of inventories referred to in paragraph 1. 1-1c, having regard to the scope of the information, the placement of which is necessary for the assessment of the composition of the mass of bankruptcy, as well as the readability and completeness of the inventories.

2. Together with the inventory, an estimate of the assets entering the mass of bankruptcy shall be carried out.

3. It is not presumed that the belongings in the possession of the fallen on the day of the declaration of bankruptcy belong to the estate of the fallen.

Division 3

Exclusions from the mass of bankruptcy

Article 70. [ Exemption of property which is not in the property of a bankrupt property] The components of property not belonging to the bankrupt property shall be excluded from the mass of bankruptcy.

Article 70 1 . [ Exceptions to the application of exemption from bankruptcy] The provisions on exclusion from bankruptcy shall not apply to the goods, claims and other property rights transferred by the bankrupt to the creditor in order to secure the claim. The provisions of the Act concerning the pledge and claims secured by the pledge shall be applied to these items and to the claims secured in this way.

Article 71. [ Claim for the issue of a mutual benefit for property excluded from the mass of bankruptcy] 1. In the event of disposal by the fallen property, which is subject to an exemption, the provision received for the sale of the property shall be issued to the person to whom the property was owned, if the benefit is extracted in the mass of bankruptcy.

2. In the event of a divestment by the receiver of a property which was subject to an exemption, the person to whom the law belonged, may request the issue of a reciprocal benefit obtained in exchange for that property.

3. If the benefit referred to in paragraph 1 is provided. 1 and 2, is not satisfied before requesting a release, the right to benefit passes on the right to the excluded property.

Article 72. [ Reimbursement of expenses incurred] A person who is entitled to a right to a property subject to an exemption may require his or her surrender or mutual benefit for the simultaneous reimbursement of expenses for the maintenance of that property or for the acquisition of the benefit of the mutual benefit incurred by the fallen or from the mass of the bankruptcy.

Article 73. [ Proceedings for exclusion from the mass of bankruptcy] 1. In the request for exclusion from the mass of bankruptcy shall be reported any claims, charges and evidence for their support under the rigorous loss of the right to appoint them in the course of further proceedings, unless the appointment of them in the application was impossible.

2. The commissioner shall recognize the application for exclusion from the mass of bankruptcy within one month from the day of his submission after hearing the receiver, the court supervisor or the manager.

3. (repealed)

4. (repealed)

5. (repealed)

(6) The determination of the exclusion from the mass of bankruptcy requires justification. The decision to exclude from the mass of bankruptcy shall be entitled to a complaint against the fall and the creditors.

Article 74. [ The application for exclusion of property from the mass of bankruptcy] 1. In the event of a dismissal of the application for exclusion from the mass of bankruptcy, the applicant may, by action, demand the exclusion of property from the mass of bankruptcy.

2. The command shall be lodged with the bankruptcy court within one month from the date of service of the order of the judge-the commissioner on refusal of exemption from the mass of bankruptcy.

(3) The action may be based only on the claims and allegations made in the application for exemption from the mass of bankruptcy. Other claims and allegations can only be reported if the reason has shown that their earlier notification was not possible. Irrespective of the outcome of the case, the court will charge the costs of the trial if it has established new evidence relevant to the resolution of the case which it has not requested in the application for an exemption.

(4) The Court of First Instance may secure an action by establishing a prohibition on the sale or placing of property covered by a claim for exemption from the mass of bankruptcy.

Division 4

Fallen activities relating to property forming part of the mass of bankruptcy

Article 75. [ Losing the right of the board, using and disposing of the property entering the mass of bankruptcy] 1. On the day of the declaration of bankruptcy the bankrupt shall lose the right of the board and the possibility of using the property entering the mass of bankruptcy and the disposal of it.

2. The Commissioner-the Commissioner determines the scope and the time of the use of the fallen or the person close to him, who on the date of the declaration of bankruptcy residing in the apartment located in the premises or in the building entering the mass of bankruptcy, from this apartment.

3. (repealed)

Article 76. (repealed)

Article 77. [ The invalidity of the fallen activity concerning the components of the mass of bankruptcy] 1. The legal actions of the fallen property entering into the mass of bankruptcy shall be invalid.

2. At the request of a third party, the commissioner may order the return on her benefit from the mass of the bankruptcy of her mutual benefit, which the person has provided in connection with the making by her of the fallen legal act referred to in the paragraph. 1. Provisions of undue provision shall apply mutatis mutandis to the refund of that benefit.

3. The reimbursement of the benefit referred to in paragraph. 2, it may be ordered if the legal action was taken after the declaration of bankruptcy and before the notice in the Register of the decision to declare bankruptcy, and the third party exercising due diligence could not have known about the declaration of bankruptcy. The decision of the Judge-Commissioner to that person shall be entitled to a complaint.

4. The provision of the paragraph. 1 does not apply to the establishment of financial collateral in accordance with the provisions of the Act of 2 April 2004. about some financial security (Dz. U. 2012 r. items 942 and 1166 and of 2013 items 1036), if the conclusion of the contract or the establishment of the financial security occurred on the day of the bankruptcy, and the entitled from the security would show that he did not know and with due diligence he could not know about the opening of the proceedings bankruptcy. The provisions of the paragraph The security referred to in Article 1 shall also not apply to the security referred to in Article 1. 67.

Article 78. [ Fulfilment of the benefit to the hands of the fallen after the notice of bankruptcy notice] The fulfilment of the benefit to the fallen hand made after the notice of bankruptcy in the Registry does not exempt from the obligation to fulfil the benefit to the mass of bankruptcy, unless the equivalent of the benefit has been passed by the bankrupt to the mass of bankruptcy.

Article 79. [ Actions to be disclosed in the perpetual ledger and registers] The provisions of Article 4 77 and 78 shall also apply to acts which are subject to disclosure in the register of perpetual books and registers, unless the specific provisions provide otherwise.

Article 80. [ Fulfilment of obligations of the bankrupt arising from settlement orders] 1. The announcement of the bankruptcy of a participant of a payment system or securities settlement system within the meaning of the Act of 24 August 2001. the settlement finality in the payment systems and securities settlement systems and the rules for the supervision of these systems shall not suspend the use of:

1) cash and financial instruments within the meaning of the Act of 29 July 2005. marketing of financial instruments (Dz. U. of 2014 items 94 and 586 and of 2015 items 73), collected and credited to his clearing account, unencumbered by law in rem in favour of third parties,

2) financial instruments recorded in a bankrupt account, as the object of collateral for credit obtained under a payment system or securities settlement system, if such credit can be made available within the framework of an existing credit agreement

-in order to implement the fallen liabilities resulting from settlement orders entered into the system at the latest on the working day of the system starting on the day on which the bankruptcy was declared.

2. The working day of the system shall be deemed to be determined by the rules of operation of the payment system or securities settlement system within the meaning of the Act referred to in Art. 22 par. 1 point 4, the execution cycle of the orders during which the settlement or settlement is made, and other operations associated with it; this day may start and end in the following calendar days.

Division 5

Prohibition of mass burdens

Article 81. [ Prohibition of the mass burdens of bankruptcy with a limited legal right] 1. After the declaration of bankruptcy, the components of the bankruptcy of the mortgages, the pledge, the registered pledge, the treasury, or the mortgage of the sea in order to secure the receivables arising before the declaration of bankruptcy may not be charged.

(1a) After the declaration of bankruptcy, the bankruptcy of a compulsory mortgage and a tax pledge cannot be established, including for the security of claims arising after the declaration of bankruptcy.

2. The provision of the paragraph. 1 shall not apply if the application for registration of a mortgage has been filed in court at least six months before the date of filing of the application for bankruptcy.

Article 82. [ Deletion from office of entry for load] Entry in the perpetual book or register made in violation of Art. 81 shall be removed from office. The basis for the deletion shall be the order of the Judge-Commissioner as to the inadmissibility of the alert. The decision of the Judge-Commissioner shall be entitled to a complaint.

Chapter 2

Effects of the bankruptcy of a bankrupt

Article 83. [ The validity of contractual clauses in the event of bankruptcy] The provisions of the agreement reserving in the event of the filing of an application for a declaration of bankruptcy or the announcement of bankruptcy of a change or termination of the legal relationship to which the party is fallen shall be invalid.

Article 84. [ The ineffectiveness of the provisions of the contract obstructing or preventing the achievement of the purpose of the bankruptcy proceedings] 1. The order of the contract to which the party is fallen, preventing or obstructing the achievement of the purpose of the bankruptcy proceedings shall be ineffective in relation to the mass of bankruptcy.

2. The contract of transfer of property of belongeds, receivables or other rights contained in the purpose of securing the claim shall be effective against the mass of bankruptcy, if it has been concluded in written form with a certain date.

3. The Agreement establishing financial collateral on the basis of the Act of 2 April 2004. Of some financial collateral for its performance against the mass of bankruptcy, it does not require a written form to be maintained with a certain date.

Article 85. [ Consequences of the termination of the framework agreement] 1. If the framework agreement, of which one of the parties is fallen, stipulates that individual contracts, the subject matter of which are the timely financial operations, loans of financial instruments or the sale of financial instruments with the obligation to them repurchase, shall be concluded in the implementation of the framework agreement and that the termination of the framework agreement shall terminate all the specific contracts concluded in the performance of the framework agreement:

1) the claims for individual specific contracts concluded in its execution are not included in the arrangement in the bankruptcy proceedings;

(2) The syndicate shall not have the right to withdraw from the framework agreement referred to in Article 3. 98.

2. Through the timely financial operations referred to in paragraph. 1, it is understood the operations in which the price, course, interest rate or index has been determined-and in particular the acquisition of currencies, securities, gold or other precious metals, goods or rights, including contracts calculated only on price difference, options and Derivatives-included in an agreed date or agreed date, in the market.

2a. Through the financial instruments referred to in paragraph 2. 1, shall be understood financial instruments within the meaning of the provisions of the Act of 29 July 2005. marketing of financial instruments.

3. Each party may terminate the contract referred to in the paragraph. 1, with the manner of settlement of the parties in the event of termination of the contract as set out in that agreement

4. A deduction of claims resulting from the settlement of the parties shall be allowed.

5. To individual specific agreements with the subject of timely financial operations, loans of financial instruments or the sale of financial instruments with a commitment to repurchase them-even if they have not been concluded in the performance of the contract the framework referred to in paragraph 1. 1-The provisions of Article 1 shall not apply. 98 and art. 99.

Article 85a. [ Violation of allowances resulting from the compensation clause] The announcement of the debtor's bankruptcy shall not affect the powers arising from the netting clause contained in the agreement referred to in the Act of 2 April 2004. of certain financial collateral, if the contract has been concluded:

1) before the day of the announcement of bankruptcy;

2) on the day of the proclamation of bankruptcy, but before the release of the order of bankruptcy;

3) on the day of the announcement of bankruptcy, but after the release of the order of bankruptcy, if the accepting security can confirm that he did not know and could not have known about the declaration of bankruptcy.

Article 86. [ Announcement of bankruptcy of housing cooperatives] 1. After the declaration of bankruptcy of a housing cooperative, the activities referred to in Art. 41-43 of the Act of 15 December 2000. o Housing Cooperatives (Dz. U. of 2013 r. items 1222 and from 2015. items 201) executes a syndicate.

2. On the syndication of pregnancy, the obligation to enter into an agreement referred to in Art. 12, art. 17 14 , art. 17 15 , art. 39 and art. 48 the Act referred to in paragraph 1. 1 if the request was submitted to the cooperative before the declaration of bankruptcy or after the declaration of bankruptcy on the basis of art. 54 1 paragraph 2 of this Act.

Article 87. (repealed)

Article 88. (repealed)

Article 89. (repealed)

Article 90. (repealed)

Article 91. [ Eligibility of Cash Benefits] 1. Monetary liabilities of the bankrupt, whose term of payment of the benefit has not yet occurred, shall become due on the day of the declaration of bankruptcy.

2. The liabilities of non-monetary property shall change from the date of the declaration of bankruptcy into monetary liabilities and with that date shall be payable, even if the deadline for their execution has not yet occurred.

Article 92. [ Satisfaction of interest from the mass of bankruptcy] 1. From the mass of bankruptcy may be satisfied interest on receivables, receivable from the bankrupt, for the period until the day of the announcement of bankruptcy.

2. Paragraph Recipe 1 shall not apply to the interest on mortgage-backed claims, entry in the register, pledge, registered pledge, treasury or sea mortgages. These interests may be met only by the object of the security.

Article 93. [ Deduction of receivables] 1. The deduction of receivables of a bankrupt creditor shall be admissible if both claims existed on the day of the declaration of bankruptcy, even if the due date of one of them has not yet occurred.

2. The set-off shall be represented by the total amount of receivables of the bankrupt and the claim of the creditor only in the amount of the principal claim and the interest accrued to the date of the bankruptcy.

3. If the date of payment of the non-interest-bearing debt of the bankrupt on the day of the declaration of bankruptcy has not occurred, the sum of the receivables reduced by statutory interest, not higher than six per cent, shall be taken, for the time from the date of the declaration of bankruptcy to the day of payment and no more than for a period of two years.

Article 94. [ Prohibition of withholding of receivables] 1. The set-off shall not be permitted if the debtor has acquired a claim by way of transfer or indosu after the declaration of bankruptcy, or has acquired it in the last year before the date of the bankruptcy, knowing the existence of the basis for the announcement Bankruptcy.

2. The set-off shall be admissible if the purchaser has become a creditor of the fallen due to the payment of his debt, for which he was in person or specified property items, and if the purchaser at the time he accepted responsibility for the debt of the fallen, he did not know of the existence of grounds for declaring bankruptcy. A deduction shall always be admissible if the acceptance of responsibility took place one year before the date of the declaration of bankruptcy.

Article 95. [ Deductibility] A set-off shall not be permitted if the creditor became a debtor in the fallen form after the date of the bankruptcy.

Article 96. [ Statement by the creditor of the intention to set off a claim] A creditor who wishes to benefit from the right of deduction shall make this statement no later than when the claim is made.

Article 97. [ Investigation of claims from contract concluded as a result of acceptance of the offer] A claim resulting from an agreement concluded as a result of the acceptance of a bid submitted by a bankrupt may be provided by the creditor in the bankruptcy proceedings only if the declaration of acceptance of the offer was submitted to the fallen before the day of the announcement Bankruptcy.

Article 98. [ Execution of mutual agreements] 1. If on the day of the announcement of bankruptcy the obligation of the mutual agreement was not executed in whole or in part, the receiver may, with the consent of the judge-commissioner, execute the obligation of the fallen and request from the other party the fulfilment of the reciprocal benefit or the the contract shall be waiving the date of the bankruptcy.

1a. By issuing the agreement referred to in paragraph 1. 1, the judge-the commissioner is guided by the purpose of the insolvency proceedings, taking also into account the important interest of the other party of the contract.

1b. In order to order the judge-Commissioner, the complaint is due to the bankruptcy and to the other party of the contract.

1c. If at the date of the bankruptcy the bankruptcy was a party to the contract other than the reciprocal agreement, the receiver may withdraw from the contract, unless the Act provides for a different effect. The provisions of the paragraph 1-1b shall apply mutatis mutandis.

2. At the request of the other party filed in written form with the date of a certain, the syndicate shall within three months declare in writing whether the contract departs or requests its execution. Failure to submit a statement by the receiver within this time limit shall be deemed to be a withdrawal from the contract.

(3) The second party, which is obliged to fulfil the obligation in advance, may abstain from the fulfilment of the benefit until such time as the provision of mutual benefit is fulfilled or safeguarding. The right of the other party shall not be entitled if, at the time of the conclusion of the contract, she knew or should have known that there were grounds for declaring bankruptcy.

Article 99. [ Withdrawal by the syndicate from the mutual agreement] If the receiver waives the contract, the other party does not have the right to reimbursement of the completed benefit, even if the benefit is in the mass of bankruptcy. The party may be liable in insolvency proceedings for the execution of the obligation and the losses incurred by reporting these claims to the Judge-commissioner.

Article 100. [ Reimbursement of things sent to the fallen without receiving a price] 1. The seller may demand the return of movable property-also of securities-sent to the bankrupt without receipt of the price, if the item has not been covered before the declaration of bankruptcy by the bankrupt or by the person authorized by him to the disposition of a thing. The right to request a refund also serves the commission, which sent a fallen thing.

2. The seller or the commissionant to whom the benefit has been returned shall reimburte the costs which have been incurred or are to be incurred, and the advance payments received.

3. Syndicate can, however, stop if it pays or secures due to the fallen price and costs. This right shall be entitled to a syndicate within one month from the date of the recovery.

Article 101. [ Effectiveness of the transfer of property contract] 1. Reserved in the contract of sale to the seller the property right shall not expire due to the announcement of the buyer's bankruptcy, if it is effective against its creditors according to the provisions of the Civil Code.

2. (repealed)

Article 102. [ Termination or withdrawal of the contract or commission] 1. The contracts in which the contract is issued or the commission in which the contract or the committee has failed, and the contract for the management of the bankrupt securities shall expire on the date of the bankruptcy. The claim for the loss incurred as a result of this loss may be made in the insolvency proceedings.

2. From the contracts concluded by the bankrupt contract or commission, in which the receiving order or commission has failed, may be waiving the day of the declaration of bankruptcy without compensation.

Article 103. [ Expire agency agreement] 1. The agency contract shall expire on the date of the announcement of the bankruptcy of one of the parties.

2. In the event of bankruptcy of an order, the agent shall have the right to claim in the insolvency proceedings his claim arising from the loss suffered as a result of the termination of the contract.

Article 104. [ Solution or expiration of the use agreement] 1. In the event of a bankruptcy of the lender or the recipient of the use, the contract of use, if the matter has already been issued, shall be terminated at the request of one of the parties.

2. If the item has not yet been issued, the contract expires.

Article 105. [ Termination of Loan Agreement] In the event of the bankruptcy of one of the parties to the loan agreement, the loan agreement expires when the subject of the loan has not yet been issued.

Article 106. [ Obligation of the tenant to pay the rent to the mass of bankruptcy] The uptake by the bankrupt before the announcement of the bankruptcy of the rental of movable property for a period of more than six months, counting from the day of the declaration of bankruptcy, shall not relieve the tenant from the obligation to pay the rent to the mass of bankruptcy.

Article 107. [ The effectiveness of the lease or lease agreement] 1. The contract of rental or lease of property of the fallen property shall be binding on the parties, if the subject matter of the contract before the declaration of bankruptcy has been issued to the tenant or lessee.

2. The uptake by the bankrupt before the announcement of the bankruptcy of the rental rent for a period of more than three months, and the rent of the lease for a period of more than six months, counting in both cases from the day of the bankruptcy, as well as the disposition of the lease rent, does not release the tenant or lessee from the obligation to pay the rent to the mass of bankruptcy.

Article 108. [ The effects of the sale by the bankrupt real estate syndicate] The sale by the receiver in the course of insolvency proceedings of the bankrupt property shall have the same effect in relation to the rental contract or lease, as the sale in the enforcement proceedings.

Article 109. [ Termination of the lease or lease agreement] 1. On the basis of the order of the judge-the commissioner of the receiver shall terminate the contract for the rental or lease of the property of the fallen property subject to a three-month period of notice, also when the termination of the contract by the bankrupt was not permissible. Member-Commissioner may issue a provision if the duration of the contract makes it difficult to liquidate the bankruptcy or when the rent or lease deviates from the average rent or lease of the property of the same kind. The decision of the Judge-Commissioner shall be entitled to a complaint.

2. The second party of the terminated contract may assert in bankruptcy proceedings damages due to termination of the rental contract or lease before the deadline provided for in the contract, reporting these receivables to the judge-commissioner.

3. To lease or lease a company or its organised part of the provisions of the paragraph. 1 and 2 shall apply mutatis mutandis.

Article 110. [ Withdrawal from lease or lease agreement] 1. If, on the day of the announcement of the bankruptcy, the subject of the lease or lease has not yet been issued to the bankrupt, any party may withdraw from the lease agreement or lease the property concluded by the fallen as a tenant or a tenant. A declaration of withdrawal should be submitted within two months of the date of the declaration of bankruptcy.

2. Deparation from the contract shall not entail any obligation to compensate.

3. If the subject of the lease or lease on the day of the bankruptcy of bankruptcy was already issued to the bankrupt, the receiver may terminate the lease or lease agreement, also when the termination of the contract by the bankrupt was not admissible. If the contract relates to a property in which a bankrupt undertaking was carried out, the termination shall be subject to a three-month period of notice and, in other cases, to the date of the statutory period, unless the time limit is due. the notice provided for in the contract is shorter.

4. The termination of the contract shall not take place before the expiry of the time limit for which the rent was paid in advance. On the basis of the provisions of the Judge-Commissioner, the Administrator shall pronounce the lease or lease before the deadline, if the further duration of the contract would obstruct the conduct of the insolvency proceedings, in particular when it leads to an increase in the cost of bankruptcy. The decision of the Judge-Commissioner shall be entitled to a complaint.

5. The lessor or lessor may claim compensation in the insolvency proceedings on account of the termination of the lease or lease before the term provided for in the contract, however, for a period of not more than two years, less the settlement of the expenses of fallen subject-matter leases or leases.

6. To lease or lease a company or its organised part of the provisions of the paragraph. 1-5 shall apply mutatis mutandis.

Article 110a. [ Withdrawal from the competition ban agreement on the day of bankruptcy] 1. Syndicate may derogate from the day of the declaration of bankruptcy from the non-competition agreement referred to in art. 101 2 the Act of 26 June 1974. -Labour Code (Dz. U. of 2014 items 1502 and 1662), without the right to compensation.

2. In the case of the sale of a company which is bankrupt in its entirety, the liability for the obligations of the fallen from the non-competition agreement referred to in art. 101 2 the Act of 26 June 1974. -The Labour Code goes to the purchaser of the company, unless the syndicate has previously departed from the contract.

Article 111. [ Termination of credit agreement] 1. On the day of bankruptcy of bankruptcy, the loan agreement expires if before that date the lender has not donated cash at the disposal of the bankrupt. The creditor may make good damage to the insolvency proceedings by reporting these claims to the Judge-Commissioner.

2. In the case of devotion to the bankrupt before the date of the announcement of the bankruptcy of a portion of the cash, the fallen shall lose the right to demand the payment of the part not transferred.

Article 112. [ The bankruptcy and the bank account, the securities account and the pooled account of the bankrupt] The announcement of bankruptcy shall not affect the contracts of the bank account, the securities account agreement or the contract for holding the collective account of the bankrupt.

Article 113. [ Termination of certain storage contracts] 1. On the day of the declaration of bankruptcy, the contracts for the making available of safe deposit boxes and storage contracts concluded by the bankrupt with the bank shall expire. The issue of items or securities lodged in a box shall be issued within a period agreed with the syndicate, but not later than three months from the date of the bankruptcy.

2. For the period of use of the boxes and other forms of storage after the announcement of bankruptcy, the bank charges the charges at the rates of the parties in force in the last month before the date of the bankruptcy.

3. The claims of the bank referred to in the paragraph. 2, may be reported in the insolvency proceedings, according to the rules laid down for the investigation of the reimbursement of the costs of the proceedings.

Article 114. [ Termination of the lease agreement] 1. In the event of a declaration of bankruptcy using things on the basis of a lease agreement the syndicate may, with the consent of the judge-commissioner, withdraw from the day of the announcement of bankruptcy from the lease agreement. The provisions of Article 4 98 (1) 2 and Art. 99 shall apply mutatis mutandis.

2. In the event of a declaration of bankruptcy financing the leasing of provisions of the Act on withdrawal from the contract by the receiver does not apply.

Article 115. [ Effectiveness of the compulsory property insurance contract] 1. The announcement of the insurer's bankruptcy shall not affect the contract of compulsory insurance of property.

2. The provisions of Article 4 shall apply mutatis mutandis to the property insurance contracts concluded by the bankrupt before the date of the bankruptcy. 98 and 99.

Article 116. [ Claims by spouses arising from the marriage property contract] The claims of the spouse of a bankrupt spouse may be taken into account only if it was concluded at least two years before the date of application for the declaration of bankruptcy.

Article 117. (repealed)

Article 118. (repealed)

Chapter 3

Effects of bankruptcy on the succession of the succession acquired by the fallen

Article 119. [ Inclusion of fall in the mass of bankruptcy] 1. If the fall open after the day of the declaration of bankruptcy, the instituted falls into the mass of bankruptcy. The syndicate does not make a declaration of acceptance of the inheritance, and the decline is considered to have been accepted with the welfare of the inventory.

2. If the opening of the inheritance occurred before the declaration of bankruptcy, and until the moment of its announcement, the time limit has not expired to make a declaration of acceptance or rejection of the inheritance and the designated heir of the declaration did not apply, provision (1) shall apply mutatis mutandis.

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

Article 120. [ Validity of the contract of divestment or of the share of inheritance] The agreement to dispose of all or part of the succession or the whole or part of the share of the succession concluded by the bankrupt after the announcement of the bankruptcy shall be invalid. It is also null and void that it has a task of taking part in an object which falls within the scope of the succession, and its consent to a regulation involving a succession in respect of a succession by another heir.

Article 121. [ Exclusion of inheritance from the mass of bankruptcy] 1. If the inheritance consists of receivables and the rights in doubt as to the existence or possibility of their execution, the fall in the mass of bankruptcy may be excluded.

2. The decline shall be excluded if the assets of the inheritance are difficult to dispose of or for other reasons the entry of the inheritance into the mass of bankruptcy would not be favourable for the insolvency proceedings.

3. The decision to exclude the inheritance from the mass of bankruptcy shall be issued by a judge-commissioner. The order shall be entitled to a complaint to the fallen and to the creditors.

Article 122. [ Statement of acceptance or rejection of a decline excluded from the mass of bankruptcy] If the decrease is excluded from the mass of bankruptcy, the statement of acceptance or rejection of the inheritance shall be lodged by the heir. The time limit for making a declaration shall start to run from the moment when the decision to exclude it is entitled to be lodged.

Article 123. [ The ineffectiveness of the statement of rejection of the decline] A declaration of a failed declining or a recovery transcript shall be ineffective in relation to the mass of the bankruptcy if it has been filed after the declaration of bankruptcy.

Chapter 4

The impact of the announcement of bankruptcy on matrimonial property relations

Article 124. [ Consequences of bankruptcy for matrimonial property] 1. On the day of the announcement of the bankruptcy of one of the spouses arises between the spouses of the property separation referred to in art. 53 § 1 of the Act of 25 February 1964. -Family and care code (Dz. U. 2012 r. items 788, with late. zm.). If the spouses have remained in a property of property, the property of the spouses shall enter the mass of the estate and the division shall be inadmissible.

2. (repealed)

3. The marriage of the fallen wife may be liable in the insolvency proceedings of the receivables for participation in the joint property, by declaring this claim to the Judge-commissioner.

(4) It is not presumed that the common property created during the period of establishment of the company by the bankrupt was acquired from the proceeds of the revenue of that company.

5. The mass of bankruptcy shall not consist of objects for the sole surviving spouse, for example, if they have been subject to a matrimonial property, with the exception of the assets acquired in the common property. within two years prior to the date of application for the declaration of bankruptcy.

Article 125. [ The ineffectiveness of the establishment of property separation] 1. The establishment of a property distribution on the basis of a court decision in the course of the year before the date of application for the declaration of bankruptcy shall be ineffective in relation to the mass of the bankruptcy, unless the lawsuit for the establishment of property separation has been filed at least two years before the date of application for the declaration of bankruptcy.

2. After the declaration of bankruptcy, the property separation cannot be established with a date earlier than the date of bankruptcy.

3. Paragraph Recipe 1 shall apply mutatis mutandis where the property separation arose under the law of the year prior to the date of application for the declaration of bankruptcy as a result of divorce, legal separation or incapacitation of one of the spouses, unless the lawsuit or the application in the case has been submitted at least two years before the date of application for the declaration of bankruptcy.

Article 126. [ Effectiveness of the establishment of property separation] 1. The establishment of a property distribution of a property contract shall be effective in relation to the mass of bankruptcy only if the contract is concluded at least two years before the date of filing of the application for the declaration of bankruptcy.

2. Paragraph Recipe 1 shall apply mutatis mutandis where the property contract has been limited by the property contract.

SECTION III

Ineffectiveness and actionable action

Article 127. [ The ineffectiveness of unpaid property regulations by the bankrupt] 1. The ineffective in relation to the mass of bankruptcy shall be the legal acts carried out by the bankrupt one year before the date of application for the declaration of bankruptcy, which he has given to his property, if made free of charge or for consideration, but the value of the bankrupt benefit exceeds the value of the benefit received by the bankrupt or the bankrupt or the third party in a gross manner.

2. Paragraph Recipe 1 shall apply mutatis mutandis to the court settlement, the recognition of the action and the renunciation of the claim.

3. The security and payment of the uncharted debt made by the bankrupt shall also be ineffective within six months prior to the date of filing of the application for bankruptcy. However, those who have received payment or security may, by reason of an action or claim, claim that they may be considered effective if, at the time of their implementation, they did not know the existence of a basis for the declaration of bankruptcy.

4. The provisions of the paragraph. 1-3 shall not apply to securities established prior to the date of the bankruptcy in connection with the timely financial operations, loans of financial instruments or the sale of financial instruments with the obligation to repurchase them, referred to in art. 85 (1) 1.

Article 128. [ Ineffectiveness of paid legal acts with close or related persons] 1. Judge-commissioner of the office or at the request of the receiver shall deem to be ineffective in relation to the mass of bankruptcy the legal action made by the bankrupt within six months before the date of filing of the application for bankruptcy with the spouse, relatives or should be in a straight line, a relative or a duty line up to and including a second degree, with the person remaining with the fallen in the actual relationship, who is a household with him or with an adopted or adoptive relationship, unless the The other side of the task shall show that there has been no netting of creditors. The decision of the Judge-Commissioner shall be entitled to a complaint.

1a. To the act of the fallen, made with the company in which the fallen is a member of the management board, the sole shareholder or shareholder, and with the companies in which the persons mentioned in the mouth. 1 shall be members of the Management Board or the sole members or shareholders, the provision of the paragraph. 1 shall apply.

2. Paragraph Recipe 1 shall apply mutatis mutandis to the operation of the bankrupt, which is a company or a legal person made with its members, their representatives or their spouses, as well as related companies, their associates, representatives or spouses of such persons.

3. To a bankrupt activity which is a company which he has made with another company, if one of them was a parent company, and also if the same company is the parent company in relation to the fallen and the other party of the act, the provision of the paragraph. 1 shall apply.

Art. 128a. [ The ineffectiveness of the transfer of the receivables in relation to the mass of bankruptcy] 1. Ineffective in relation to the mass of bankruptcy shall be a transfer of the receivables of the future if the claim arises after the declaration of bankruptcy.

2. Where the contract of transfer of the receivables was concluded no later than six months before the date of filing of the application for the declaration of bankruptcy in writing with the date of a certain, provision of the paragraph. 1 shall not apply.

Article 129. [ The ineffectiveness of the paid remuneration for the work of a representative of the fallen] 1. If the remuneration for the work of a representative of a bankrupt or a bankrupt person performing the tasks of the management board of the undertaking or the remuneration of a person providing services connected with the management or supervision of the bankrupt undertaking specified in a contract of employment, a contract for the provision of services or the resolution of a bankrupt body concluded or taken before the date of the bankruptcy is grossly higher than the average remuneration for such work or service and is not justified by the effort of the work, Member-commissioner or at the request of the syndicate, considers that the part of the the remuneration for the period prior to the date of the declaration of bankruptcy, but not more than six months before the date of application for the declaration of bankruptcy, shall be ineffective in relation to the mass of bankruptcy, although the remuneration has already been paid. Judge-Commissioner may be considered to be ineffective in whole or in part in relation to the bankruptcy mass of a representative of a bankrupt, bankrupt worker who performs tasks in the management of an undertaking or a person providing services related to the the management or supervision of a bankrupt undertaking in respect of the time after the date of the bankruptcy, if, on account of the management of the board by the receiver, it is not justified by the imposition of a work.

2. In the case referred to in paragraph. 1, sędzia-commissioner determines the remuneration of the remuneration in the amount of bankruptcy corresponding to the work carried out by a representative of the fallen, a bankrupt employee who performs tasks in the field of the company's management or a person carrying out management or supervision of the bankrupt undertaking. Judge-Commissioner shall issue an order after hearing the receiver and the representative, the bankrupt worker or the person performing the management or supervision of the bankrupt undertaking.

3. Paragraph Recipe 1 and 2 shall apply mutatis mutandis to benefits provided in connection with a termination of employment or a service contract relating to the management of an undertaking, with the result that the limitation of the amount of such benefits shall take place up to the amount specified in accordance with the rules of procedure. universally.

4. At the order of the judge, the commissioner shall be entitled to a complaint.

Article 130. [ Uneffectiveness of the fall in property] 1. Judge-commissioner at the request of the receiver shall consider as ineffective in relation to the mass of bankruptcy the burden of the assets of the fallen mortgage, the pledge, the registered pledge or the sea mortgage, if the fallen estate was not a personal debtor of the secured creditor, and the burden was established during the year before the application for the declaration of bankruptcy and in connection with its establishment the bankrupt has not received any benefit.

2. Paragraph Recipe 1 shall apply mutatis mutandis where the physical burden has been established in return for a benefit which is disproportionate to the value of the collateral to be provided.

3. Notwithstanding the amount of the benefit received by the fallen judge, the Commissioner will consider the burdens referred to in paragraph 1 for the ineffective burden of the application. 1 and 2, if these charges are secured by the debts referred to in Article 2. 128, unless the other party shows that there has been no netting of creditors.

4. At the order of the judge, the commissioner shall be entitled to a complaint.

Article 130a. [ Recognition for non-effective contractual penalties that are reserved in the event of a default or non-performance of a liability] Member-commissioner at the request of the syndicate shall be deemed to be ineffective in relation to the mass of bankruptcy in whole or in part of the contractual penalties reserved in the event of the default or the non-performance of the undertaking, if the undertaking has been in significant part executed by the bankrupt or if the contractual penalty is grossly exorbitant. The decision of the Judge-Commissioner shall be entitled to a complaint.

Article 131. [ Actionable action against hives of creditors] In matters not governed by the provisions of Article 4 (1 127-130a to challenge the legal acts of the fallen, made against the victims of creditors, the provisions of art. 132-134 and the provisions of the Civil Code for the protection of the creditor in the event of the insolvency of the debtor shall be applied accordingly.

Article 132. [ Initiation of legal proceedings for the recognition of an act as an ineffective action] 1. The command may roll out a syndicate.

2. Syndyk shall not bear the court fees.

3. It shall not be possible to claim the recognition of an act as uneffective after the expiration of two years from the date of the bankruptcy, unless, on the basis of the provisions of the Civil Code, this permission has expired earlier. This time limit shall not apply where the claim for an action for an ineffective action has been notified by means of a plea.

Article 133. [ Entrance to the court proceedings in the place of the fallen] 1. Syndicate may enter into place of the plaintiff in a case initiated by the creditor, who challenged the acts of the fallen. In this case, if the defendant was also a fallen person, the proceedings in respect of him shall be terminated after the decision to declare the bankruptcy shall be entitled to become final.

2. From the recovered part of the property, the receiver shall return to the creditor the costs incurred by him.

3. In the event of a waiver of insolvency proceedings or the repeal of the insolvency proceedings before the end of the case referred to in paragraph. 1, the court shall notify the pending trial of the creditor, who may, within two weeks, proceed to the cause as a plaintiff. The creditor, who has notified his accession to the case, shall not demand a repetition of the proceedings so far.

4. The creditor, who has received any benefit before the declaration of bankruptcy of the judgment declaring the act of the fallen for an unenforceable, shall not be obliged to issue the received payment of the mass of bankruptcy.

Article 134. [ Addendum to the mass of bankruptcy] 1. If the action of the bankrupt is ineffective by law or has been declared to be ineffective, then, as a result of that act, has been abducted or not entered into the estate, shall be transferred to the mass of bankruptcy, and if the transfer in kind is made impossible, to the mass of bankruptcy the equivalent in money is paid. The other party may, with the agreement of the Judge-Commissioner, waives the obligation to transfer to the mass of the bankruptcy of what has been the result of that activity from the property of the fallen stock, by payment of the difference between the market value of the debtor's effect on the date of conclusion the contract and the value of the benefit received by the obligor. The order referred to in the previous sentence shall be entitled to a complaint.

1a. If the person obliged to transfer the assets to the mass of bankruptcy does not perform his obligation to call the receiver, the judge-the commissioner shall indicate such person or such persons and shall determine the scope of the obligation of each of them. The decision of the Judge-Commissioner shall be entitled to a complaint. The final decision shall have the power of enforcence.

2. In the cases referred to in paragraph. 1, a third party's mutual benefit shall be returned to that person, if he is in the mass of bankruptcy separately from another property or if the mass of the bankruptcy is enriched. If the benefit is non-refundable, a third party may claim the receivables in the insolvency proceedings.

Article 135. [ Exemption of the application of the provisions to challenge the action of the bankrupt] 1. The provisions permitting legal action to challenge or determine the ineffectiveness of legal acts made by the bankrupt shall not be applied for the offsetting made in accordance with art. 136 or art. 137 and its results.

2. The provisions permitting legal action to challenge or determine the ineffectiveness of legal acts carried out by the bankrupt shall also not apply to the agreement for the establishment of financial collateral, as referred to in the Act of 2 April 2004 of certain financial collateral or the performance of the obligations arising out of such a contract.

SECTION IV

Impact of bankruptcy on settlement orders in payment systems and securities settlement systems

Article 136. [ Unquestionability of the effects of a settlement order and compensation results] In the event of a declaration of bankruptcy of a participant in a payment system or securities settlement system referred to in art. 22 par. The legal effects of the settlement order arising from its introduction into the system and the results of the netting shall be indisputable and binding on third parties if that order has been entered into the system before the declaration of bankruptcy.

Article 137. [ Limitation of the irrefutable effects of the settlement order] If the settlement order referred to in Article 136, it was introduced to the system after the bankruptcy was announced and it is made on the working day of the system within the meaning of art. 80 par. 2, commencing on the date on which the bankruptcy was declared, the legal effects resulting from its introduction into the system shall be indisputable and binding on third parties only if the operator of the system demonstrates that at the time in which the with the rules of operation of this system the order became irrevocable, he did not know or could not know about the announcement of bankruptcy.

CHAPTER V

Impact of bankruptcy on legal proceedings and administrative proceedings

Article 137 1 . (repealed)

Article 138. (repealed)

Article 139. (repealed)

Article 140. (repealed)

Article 141. (repealed)

Article 142. (repealed)

Article 143. (repealed)

Article 144. [ Syndicated syndicate] 1. After the declaration of bankruptcy, judicial, administrative or judicial proceedings concerning the mass of bankruptcy may be initiated and carried out only by the receiver or against him.

2. The proceedings referred to in paragraph 2. 1, the syndicate leads to the fallen, but on its own behalf.

3. The provisions of the paragraph. 1 and 2 shall not apply to proceedings in matters of bankruptcy and for any liability for liability for bodily injury or for the purposes of health or loss of a host, and for the conversion of the rights covered by the content of the life of a life of a person who is a person of a a lifetime of the annuity.

Article 145. [ Taking proceedings against the receiver] 1. The judicial, administrative or judicial proceedings in a case initiated against the bankruptcy before the date of the bankruptcy of a claim for a claim, which is subject to a declaration of bankruptcy, may be taken against the syndicate only in the case, where, in insolvency proceedings, that claim is not included in the list of claims after the depleted mode of the law is set out.

2. (repealed)

Article 146. [ Suspension and remission of enforcement proceedings] 1. The execution proceedings addressed to the assets of the estate of the bankruptcy, opened before the day of the declaration of bankruptcy, shall be suspended by law from the day of the declaration of bankruptcy. This procedure shall be terminated by the law after the decision to declare bankruptcy has become eligible. The suspension of enforcement proceedings shall not prevent the immovable property from being brought into account if the admonition has been granted before the declaration of bankruptcy and the acquirer shall pay the purchase price at the time of the date of the acquisition.

2. The sumas obtained in suspended enforcement proceedings, and yet unreleased, shall transfer to the mass of bankruptcy after the legitimisation of the order of the declaration of bankruptcy.

2a. The sums obtained from the sale in the execution of the assets of the assets ordered in kind shall be treated in the insolvency proceedings as sums received from the liquidation of the elements of the bankruptcy of the property in question.

3. After the date of the declaration of bankruptcy it is not acceptable to refer the execution to the property of the bankruptcy and the execution of the order on the security or the order of the security on the property of the bankrupt, except for the securing of claims (1) The Commission shall, in accordance with the procedure referred to in Article 1 (1) (d) of the European Commission, provide for a decision on the application of the provisions of the procedure referred to in Article 1 (1) (d) of the European Community, which shall be deemed to be

4. (repealed)

Article 147. [ Closure of amicable proceedings] To proceedings before the amicable courts of the art. 174 § 1 points 4 and 5 and Art. 180 § 1 item 5 of the Code of Civil Procedure, as well as Art. 144 and Art. 145 shall apply mutatis mutandis.

Art. 147a. [ Departure from writing to the amicable court] 1. If, on the day of the declaration of bankruptcy, the proceedings before the amicable court were not initiated, with the consent of the judge-the commissioner may waiver the entry to the amicable court, if the investigation of the claim before the amicable court makes it difficult to liquidate the mass bankruptcy, in particular where the state of the mass is prevented from covering the costs of opening and running the proceedings before the amicable court.

2. At the request of the other party filed in the form of a written syndicate within thirty days shall declare in writing whether it waives the writing of the amicable court. Failure to submit a statement by the receiver within this period shall be deemed to be a waiver from the entry into the amicable court.

3. The other party may withdraw from the recording to the amicable court, when the receiver, despite the fact that he has not departed from writing to the amicable court, shall refuse to participate in the costs of the proceedings before the amicable court.

4. As a result of the cancellation of the entry into the amicable court is losing power.

Article 148. (repealed)

TITLE IV

General provisions on insolvency proceedings after the declaration of bankruptcy

SECTION I

Court and Court-Commissioner

Chapter 1

Court

Article 149. [ Property of local court] 1. After the declaration of bankruptcy proceedings the insolvency proceedings shall be held in the bankruptcy court, which declared bankruptcy.

2. If the proceedings have been initiated in several competent courts, the case shall be in the jurisdiction of the court which first issued the order for the declaration of bankruptcy.

3. If, in the course of the proceedings, it is found that another court is competent, the case shall be referred to the court. The transfer shall not be entitled to a complaint. The order shall be binding on the court to which the matter was referred. The actions taken in the wrong court remain in force.

Article 150. [ Composition of the Court] 1. The bankruptcy court adjudicate the formation of one professional judge, subject to the paragraph. 2.

2. The matter of remuneration of the receiver, as well as recognizing the complaint against the order of the judge-commissioner, the court of bankruptcy adjudicates the formation of three professional judges.

3. After the declaration of bankruptcy, the court shall not enter a judge-the commissioner or his deputy.

4. In the case of repeal of the order of the judge-commissioner and the referral of the case for retrial, the judge-commissioner shall be excluded from the rerecognition of the case. This exemption shall also apply in the event of the repeal of the order issued as a result of the retrial. In such a case, the case shall be recognized by the Deputy Judge-Commissioner or appointed Judge.

Chapter 2

Sędzia-commissioner and deputy commissioner

Article 151. [ Cases belonging to the property of the Judge-Commissioner] 1. After the declaration of bankruptcy, the proceedings of the insolvency proceedings shall be exercised by the Commissioner, except for the acts for which the court is competent.

2. The Deputy Judge-commissioner shall perform the duties of the Judge-commissioner, if the Act so provides and during the period of transitory obstacles to the exercise of these activities by the Judge-commissioner.

3. In particularly justified cases, the court may establish more than one deputy to the judge-commissioner.

4. To the Deputy Judge-Commissioner, the provisions relating to the Judge-Commissioner shall be applied accordingly.

Article 152. [ Actions performed by the judge-commissioner] 1. The Commissioner shall direct the proceedings of the insolvency proceedings, supervise the activities of the receiver, shall mean the activities which the syndicate is not permitted to exercise without authorisation or without the consent of the creditors ' board, as well as reimbursing the creditors, as well as the attention to the failure of the syndicate.

2. In addition, the Commissioner shall carry out other activities as defined in the Act.

3. The Commissioner and the receiver may communicate in matters relating to insolvency proceedings directly and with the use of means of direct communication at a distance, in particular by telephone, fax or e-mail.

Article 153. [ Diagnosis of complaint on the function of the bailicle] Complaints about the task of the bailile recognizes in the proceedings of the bankruptcy of the judge-commissioner.

Article 154. [ Rights and obligations of the judge-commissioner] The Commissioner shall have the rights and obligations of the court and of the President in the field of his duties.

Article 155. [ The provision of assistance by administrations and banks] 1. The bodies of public administration shall be obliged to assist the Judge-Commissioner in the performance of his duties.

2. After the notice of bankruptcy of the banks in which the bank accounts, safes or scripples are declared bankrupt, they shall be obliged to notify the judge-commissioner.

SECTION II

Syndicate and Deputy Syndicate

Article 156. [ Appointment of a syndicate] 1. In the event of a declaration of bankruptcy, a syndicate shall be appointed.

2. (repealed)

3. (repealed)

4. Syndicate immediately, no later than with taking the first action before the court or judge-the commissioner, submits to the act the document confirming the conclusion of the contract of insurance of civil liability for the damage caused in connection with function fullness. The insurance costs do not constitute costs of insolvency proceedings and are not refundable from the mass of bankruptcy.

5. (repealed)

Article 156 1 . [ Notice of the appointment of a syndicate] The decision of the appointment of the receiver shall be announced.

Article 157. [ License] 1. The syndicate function may be a natural person who has full legal capacity and a licence of the restructuring adviser.

2. The syndicate may also be held by a commercial company whose shareholders are liable for the company's obligations without limitation of all its assets, or the members of the management board representing the company shall hold the licence referred to in paragraph 1. 1.

3. The rules and mode of issue of the licence referred to in paragraph 1. 1, shall specify a separate law.

4. (repealed)

5. The order in which the receiver is designated shall indicate the number of the licence of the restructuring adviser or the number in the National Court Register appointed to perform the function of the company's syndicate.

Article 157a. [ Exclusions from the term 'syndication'] 1. Syndicate shall not be a natural person or a commercial company which:

1) is a creditor or debtor of a bankrupt, spouse, preliminary, descendant, siblings, a duty of the fallen or his creditor in the same line or degree, the person remaining with him in relation to the adoption or spouses of that person or person remaining with the fallen in the actual relationship, which is the holding of the household together;

2) is or has been employed by a bankrupt on the basis of a employment relationship, or has performed work or provided services to the fallen on the basis of another legal relationship;

3) is or has been a member of the body, procurator or attorney of the bankrupt, or is, or in the period of two years before the date of filing the bankruptcy petition, was a partner or shareholder holding shares or shares in the amount higher than 5% of the share capital of the debtor or the creditor;

4) is or was a company related to the bankrupt or is or was a member of the body, procurator or attorney of such a company or is or in the period of two years before the date of filing of the bankruptcy petition was a partner or a shareholder holdings of shares or shares of more than 5% of the share capital of the company linked to the debtor;

5) has served as a supervisor or manager in a previously bankrupt restructuring proceeding.

2. Syndyk and his spouse, preliminary, descendant, siblings, the person remaining with him in relation to the adoption or spouses of such a person, as well as the person remaining with him in the actual relationship, leading with him together the household, they may not to purchase goods or rights from the sale made in the insolvency proceedings, in which the receiver has, or has, the full function of that function.

2a. To other contracts concluded by the receiver during the proceedings, the provision of the paragraph shall be made. 2 shall apply, mutatis mutandis, unless the Commissioner decides otherwise.

3. The obstacle referred to in paragraph In the case of marriage or adoption, 1 point 1 shall be in the process of being married or adoptive.

4. Syndicate immediately, no later than with the taking of the first action before a court or judge-the commissioner, shall submit to the act of procedure a statement that there are no obstacles referred to in paragraph. 1.

Article 158. (repealed)

Article 159. [ Appointment of alternates] 1. At the request of the administrator or from the office of a judge-the commissioner may appoint a deputy receiver, if necessary, especially when performing an action in another district court.

2. The Commissioner shall determine the scope of the duties of the Deputy Syndicate.

3. To the Deputy Administrator the provisions of the Law on the Syndication shall apply accordingly.

Article 160. [ Legal nature of the syndicate's activities] 1. In matters relating to the mass of bankruptcy, the receiver shall act on his own behalf on behalf of the fallen account.

2. Syndicate is not responsible for the commitments made in matters relating to the mass of bankruptcy.

3. Syndicate shall be liable for the damage caused by the irredeable performance of duties.

Article 161. [ Grant of power of attorney] 1. Syndicate may give proxies for legal action. It may also provide procedural powers in judicial, administrative, judicial and amicable proceedings.

2. For the damage caused by the plenipotentiaries, the syndicate shall be responsible for its own action.

Article 162. [ Syndicate remuneration] 1. The remuneration of the syndicate shall be fixed as the sum of five components, within a limit of double to two hundred and sixty times the basis of remuneration.

(2) The components of remuneration shall be determined in accordance with the following rules:

1) the proportion of the sum paid to the creditors in the execution of the distribution plans plus the cost of termination of the employment relationship with the employees remaining in employment on the day of the bankruptcy:

a) one basis of remuneration-for the sum up to 100 000,00 zł,

b) four basis of remuneration-for the sum from 100 000.01 PLN to 1 000 000,00 zł,

c) the ten bases of remuneration-for the sum from 1 000 000.01 PLN to 10 000 000,00 zł,

d) thirty basis of remuneration-for the sum from 10 000 000.01 PLN to 100 000 000,00 zł,

e) eighty basis of remuneration-for a sum exceeding 100 000 000,00 zł;

2) the proportion dependent on the number of employees employed on the day of bankruptcy:

(a) half of the salary base-from 1 to 10 employees,

(b) three bases of remuneration-from 11 to 50 employees,

(c) Ten basis of remuneration-from 51 to 200 employees,

(d) 20 basis of remuneration-from 201 to 400 employees,

(e) 30 basis of remuneration-more than 400 employees;

3) the part dependent on the number of creditors involved in the proceedings:

(a) half of the basis of remuneration-to 10 creditors,

(b) two bases of remuneration-from 11 to 100 creditors,

(c) four salary bases-from 101 to 500 creditors,

(d) 20 basis remuneration-from 501 to 1000 creditors,

(e) forty basis of remuneration-more than 1000 creditors;

4) the part dependent on the duration of the insolvency proceedings from the date of the bankruptcy proceedings until the date of execution of the final allocation plan:

(a) for proceedings in which the sum of the bases of remuneration referred to in points 1 to 3 are not more than eight times the following:

-four basic salaries, if the procedure lasted no longer than six months,

-two bases of remuneration, if the procedure lasted for more than six months, but not more than twelve months,

-if the procedure lasted more than 12 months, the remuneration shall not be increased by that component,

(b) for proceedings in which the sum of the bases of remuneration referred to in points 1 to 3 exceeds eight times and shall not be more than 40 times the following:

-eight bases of remuneration, if the proceedings lasted no longer than twelve months,

-four bases of remuneration, if the proceedings lasted more than twelve months, but not more than twenty-four months,

-if the proceedings have lasted more than twenty-four months, the remuneration shall not be increased by that component,

(c) for proceedings in which the sum of the bases of remuneration referred to in points 1 to 3 exceeds forty-times:

-forty basis of remuneration, if the proceedings lasted no longer than eighteen months,

-twenty basis of remuneration, if the proceedings lasted for more than eighteen months, but not more than thirty six months,

-if the proceedings have lasted more than thirty six months, the remuneration shall not be increased by that component;

(5) a part determined by the court to the seventy bases of remuneration depending on the degree of difficulty of the proceedings and its effectiveness, in particular from the complexity of the legal situation and the actual mass of bankruptcy, the dispersal of assets and optimise the costs of proceedings

3. The basis of remuneration shall be understood by the average monthly salary in the enterprise sector without payment of prizes from profit in the third quarter of the previous year, announced by the President of the Central Statistical Office.

Article 163. [ Additional remuneration] 1. The Tribunal shall determine the initial remuneration of the receiver on the request of the receiver, submitted after the submission of the liquidation plan, within thirty days from the date of submission of the application.

2. In the application for the determination of the preliminary remuneration shall be given the current, according to the state at the date of submission of the application, information on

1) the envisaged sum of the satisfaction of creditors in the individual categories of satisfaction;

2) the number of employees employed;

3) the number of creditors;

(4) envisaged in accordance with the winding-up plan for the duration of the proceedings;

5) the degree of complication of the legal situation and the actual mass of bankruptcy, dispersion and state of property and other circumstances relevant to the work effort of the receiver.

3. In determining the preliminary remuneration, the court shall apply the rules laid down in art. 162, taking into account the indicators and circumstances given in the proposal and the likelihood of the liquidation plan being implemented in accordance with its objectives.

(4) In order to determine the remuneration of the initial payment, the complaint shall be granted only to a fallen and to the receiver.

Article 164. [ Advance on remuneration] 1. After the fixing of the initial remuneration, the syndicate shall collect from the mass the advance payment of up to 75% of the initial salary in four instalments:

1) 10%-after the payment of the provisions on the initial remuneration;

2) 25%-upon submission of the list of claims;

3) 15%, after the submission of the first allocation plan;

4) 25%-after the full liquidation of the mass of bankruptcy.

2. The salary for remuneration shall be paid on the basis of an account issued by the receiver.

Article 165. [ Fixing of remuneration] 1. The Tribunal shall issue an order in respect of the final remuneration on a request from the receiver made within one week from the date of submission of the final plan of division or the service of the decision to revoke or amend the receiver or remission of the proceedings. The submission of an application with a failure to fulfil the time limit shall result in the payment of the final remuneration in the amount of the advances collected so far, unless the court decides to grant a lower remuneration and to reimburse part of the advances. Until the date of issue of the decision on the remuneration of the final administrator, the administrator may request that the time limit be reinstate, showing that the failure to date has been effected without his or her fault.

2. The application for final remuneration shall be made up to date, according to the state at the date of submission of the application, information on:

1) the sum paid to the creditors in the context of the implementation of the plans for the division and the costs incurred in the liquidation of the labour relations with the employees remaining in employment at the date of the bankruptcy;

2) the number of employees employed on the day of the bankruptcy;

3) the number of creditors who have reported their claims, and the number of creditors placed on the list of receivables from the office;

4) the duration of the proceedings;

5) the difficulties of the proceeding and its effectiveness, including information on the cost of the proceedings and other liabilities of the bankruptcy mass.

Article 166. [ Final Remuneration] 1. The Tribunal shall immediately serve a copy of the request by the receiver for the payment of the final remuneration to the fallen and the members of the Board of creditors or inform them that the receiver has failed to make such a request within the time limit. The fallen and the members of the Board of Creditors may, within a week, take a position on the proposal, which must be addressed.

2. The Tribunal shall fix the final remuneration immediately after the presentation of the posts referred to in paragraph 1. 1, or the unsuccessfully expiry of the time limit for their submission.

3. Syndicate shall be entitled to collect the remuneration in the amount determined in the final decision on the determination of the final remuneration immediately after the issuance of the decision on the approval of the final allocation plan.

4. If the receiver is obliged to issue his property to the debtor as a result of the authorization of the order for redemption or termination of the proceedings, and the order for the award of the final remuneration is not yet final, the amount of the remuneration shall be lodged with a court deposit, in the amount of the difference between the remuneration applied for and the sum of the advances collected, unless the court, having regard to the debtor's interest, decides to limit the amount of the security to the amount established in the non-final decision on the award of final remuneration. The Tribunal decides to issue the syndicate with the amount deposited with the court on the request of the receiver on the basis of a final decision on the determination of the final remuneration. The deposit and the issue of the deposit shall be made by a single court in a single composition.

(5) If the final remuneration is set at a rate of less than 75% of the initial remuneration, the receiver shall be obliged to reimburse the difference between the sum of the advances collected and the final remuneration. In order to grant a final remuneration, the court will determine the amount to be recovered.

(6) To order the court to determine the final remuneration and to repay the advance, the advance shall be entitled to a complaint. The complaint is also entitled to a syndicate.

7. A final decision on the award of a final remuneration shall be the enforceable title against the syndicate and the bankruptcy.

Article 167. [ Breakdown of remuneration in case of cancellation or change of syndicate] 1. If the receiver has been cancelled or in the case of a change of the receiver before the date of submission of the final report, he shall retain the right to advance payments taken in accordance with art. 164 until the final remuneration is fixed.

2. In determining the final remuneration in the insolvency proceedings, in which the function has been filled with several receivers, the court shall distribute the remuneration among them in proportion to the time of the performance of the functions in the proceedings, whereby the court may decide to withdraw from the the proportional breakdown, in particular where it is justified by the different effects of the individual syndicates on the existence of the circumstances referred to in Article 4 (1) of the Regulation. 162 par. 2 points 1, and their effort.

(3) In the event of a write-off of insolvency proceedings or of its revocation, the court shall grant to the receiver the final remuneration, having regard to the circumstances referred to in Article 3 (1) of the Regulation. 162, the workload of the syndicate and the duration of the proceedings.

(4) If the amount of final salary granted to the syndicate exceeds the value of the advances collected, the provisions of Article 4 166 par. 5 shall apply mutatis mutandis.

Art. 167a. [ Increase of the remuneration and advance payment of the amount of tax] Remuneration and advances on the remuneration of the receiver liable for the settlement of the tax on goods and services shall be increased by the amount of the goods and services tax.

Art. 167b. [ Belonging to the inheritance of a claim for remuneration] 1. In the event of the death of the receiver, the claim for the remuneration owed to him belongs to the inheritance after him.

2. The remuneration of the syndicate in the case referred to in paragraph 2. 1, adjudicate by the court of office.

Article 168. [ Report on activities and accounting report] 1. A Syndicate shall submit to the Judge-to the Commissioner within the time limits he/she has appointed, at least every three months, the report on his/her activities and the accounting statement of the reasons for the statement.

2. The deputy receiver, if established, shall submit the reports referred to in paragraph 1. 1, within the time limits set by the syndicate. The syndicate shall submit these reports together with its report to the Commissioner-Commissioner.

3. The reports referred to in paragraph 1 1, 2 and 4, recognizes the judge-the commissioner after hearing where necessary and the possibility of the receiver, the bankrupt and the members of the creditors ' board.

4. After the completion of the final plan for the distribution of the mass funds, the bankruptcy of the receiver and its deputies shall submit a final report covering the report on its activities and the accounting report. The final report shall include, in particular, an indication of the location of the archiving of documents of the fallen, the total amount of the costs of the proceedings and the obligations referred to in Article 4. 230, the total amount of bankruptcies and the funds obtained from the divestment of goods and rights in kind and the general satisfaction of creditors.

5. The Commissioner shall approve the accounts, refuse to recognise the expenditure concerned or rectify the expenditure concerned and shall rule on the return to the mass of the unsanctioned amount. Judge-Commissioner refuses to approve the final report in whole or in part if the syndicate has carried out illegal or unlawfully actions, or has failed to do so, or has failed to do so within the specified time limit of all obligations. The decision of the Judge-Commissioner shall be entitled to a complaint. The complaint is also entitled to a syndicate. The final order obliging the receiver to return the unsanctioned amount to the mass of bankruptcy constitutes an enforceable title against the receiver.

(5a) A final decision to refuse to approve a final report in whole or in part shall be served by the Minister of Justice.

6. To the reports referred to in paragraph. 1 and 4, the accounting rules shall not apply.

7. The reports referred to in paragraph 1 1, 2 and 4, shall be made in electronic form and shall be entered in the Register.

8. The Minister of Justice will determine, by means of a regulation, a model of the report of the syndicate, the accounts and the report of the final syndicate, bearing in mind the scope of the information the reports of which are necessary for the the orderly conduct of supervision of the receiver, the assessment of the state of the bankruptcy and the work of the receiver as well as the readability and completeness of the reports.

Article 169. [ Carrying out other reporting obligations] 1. Syndicate shall carry out the reporting obligations incumbents. The syndicate shall not be responsible for any delay in carrying out those obligations caused by the failure to provide it with the documentation or the transmission of unreliable or incomplete documentation.

2. The obligation to provide information as referred to in art. 56 par. 1, 5 and 7 and art. 70 of the Act of 29 July 2005. public offering and conditions for the introduction of financial instruments to an organised trading system and on public companies, pregnancy on the syndicate.

3. The incident shall be subject to the immediate release of the information and documents available to the syndicate for the purpose of carrying out the obligation referred to in Article 3 (1). 56 par. 1, 5 and 7 and art. 70 of the Act of 29 July 2005. public offering and conditions for the introduction of financial instruments to an organised trading system and public companies. If a curator in the insolvency proceedings has been established for the bankrupt, the obligation of this pregnancy in the curator.

4. Syndyk leading to a bankrupt enterprise may carry out activities that require concessions, licenses or permits, unless otherwise determined by separate laws.

Art. 169a. [ Inflation and fine] 1. A Judge-Commissioner upliers a syndicate who does not perform or does not perform his duties.

2. In the case of material misconduct or lack of improvement in the performance of duties despite the reminder, the judge-the commissioner imposes a fine on the receiver in the amount from 1000 PLN to 30 000 PLN, taking into account the degree and gravity of the failure.

Article 170. [ Syndicate reference] 1. In the case of gross misconduct or lack of improvement in the performance of his duties despite the imposed fine or in the event of failure to perform the obligations referred to in art. 156. 4 or Art. 157a ust. 4, despite the call for them to be met within a week, the court refers to the syndicate.

2. Before the cancellation of the syndicate, the court shall be obliged to listen to it. In the event of a prima facie case for appeal, the court may, until such time as the decision on the appeal has been adopted, suspend the syndicate in the performance of its activities by establishing a temporary syndicate to which the rules on the receiver are applicable. Respectively.

3. The Tribunal shall amend the receiver at its request or on the basis of a resolution of the board of creditors taken in accordance with the procedure laid down in the Art. 207a.

4. In the event of the death of the receiver or loss of his full legal capacity, or if there are deficiencies in the composition of the body of the syndicated company, the court shall determine the termination of the syndication. In the order, the court shall indicate the date of death of the receiver

5. The Tribunal shall amend the receiver in the event of the withdrawal or suspension of the syndication of rights under the licence of the restructuring adviser, and if the syndicate is the company-in the event of the withdrawal or suspension of the rights resulting from the licence of the restructuring partners who are responsible for the liability of the company without limitation with all their assets or to the members of the management board representing such a company.

6. A copy of the final decision on the cancellation of the syndicate or the termination of the function of the syndicate shall be served by the Minister of Justice.

Article 171. [ Cancellation of a deputy syndicate] 1. The subject of the appeal or amendment of the deputy administrator shall rule by the Commissioner. The Commissioner also refers to the deputy administrator if his continued involvement in the proceedings is not needed.

2. (repealed)

3. To the provision referred to in paragraph. 1 in the second sentence, the complaint shall not be granted.

Article 172. [ The complaint to the order of appeal] (1) For a decision on the appeal of the receiver and to the order of the Judge-Commissioner as to the reminder or to impose a fine on the receiver, the complaint shall be entitled to a complaint. The complaint is also entitled to a syndicate. Article Article 222 ust. The second sentence shall not apply.

2. The Tribunal shall designate a receiver after the order of appeal referred to in the paragraph is entitled to be subject to the right of appeal. 1. By the time of the appointment of the syndicate, the court shall appoint a temporary syndicate to which the provisions of the receiver shall apply accordingly.

Article 173. [ Syndication activities in bankruptcy proceedings] The syndicate shall immediately include the estate of the bankrupt, manage it, protect it from destruction, damage or take it away by the bystanders and accede to it.

Article 174. [ The introduction of a syndicate in possession of property of the fallen] 1. If the receiver is encountering obstacles from the fallen party on the property of the bankrupt, the introduction of a receiver in possession of the property of the bankrupt shall be carried out by a court bailician. The introduction shall constitute the order of the court of insolvency or of the appointment of the receiver without the need to give him a declaration of enforceability.

2. The costs of introduction shall be borne by the Treasury temporarily. These costs constitute the cost of insolvency proceedings, and if the fallen is not a natural person, these costs shall be borne by the persons entitled to represent the fallen, which hinted in the taking up of the property. If costs are not available from the persons liable for reimbursement, they shall be subject to the indemnification of the bankruptcy. Where actions which hinder the entry of assets by the receiver have taken several persons entitled to represent the fallen person, the costs of introduction shall be borne by those persons jointly and severally.

3. The reimbursement of the costs referred to in paragraph. 2, judge of the judge-commissioner. The decision of the Judge-Commissioner shall be entitled to a complaint from the person liable for reimbursement.

4. The costs referred to in the paragraph. 2, shall be downloaded from the persons obliged to return them in the enforcement mode of the court fees.

Article 175. [ Disclosure of the bankruptcy notice in the books and records] The receiver shall take the necessary steps to disclose the bankruptcy notice in the perpetual book and other books and records to which the fallen assets are entered.

Article 176. [ Entities notified of bankruptcy] 1. Syndication gives notice of the bankruptcy of those creditors whose addresses are known on the basis of the books of the fallen, as well as the baikies of the general property of the fallen.

2. Syndicate shall notify the postal services within the meaning of the Act of 23 November 2012. -Postal law (Dz. U. Entry 1529) announcing bankruptcy. These establishments serve the syndicate addressed to the bankrupt postal consignment. The syndicate shall issue a bankrupt mail which does not concern the assets of the bankruptcy or which is not required to be detained because of the messages contained therein.

3. Syndicals shall notify the bankruptcy of the banks and institutions with which they have failed to enter into a safe deposit box or have made money or other objects.

4. Syndicate calls for transport undertakings, shipping companies and building blocks in which, or may be, goods belonging to a bankrupt or a consignment addressed to it, to be transferred to the syndicate of consignments or goods, and to they did not perform commands directed to them by the fallen.

Article 177. [ The performance of obligations relating to the protection of employees ' claims in the event of the employer's insolvency] 1. Syndicate shall immediately carry out the obligations laid down for the provisions on the protection of workers ' claims in the event of the insolvency of the employer.

2. The funds transferred from the Guaranteed Employee Benefit Fund shall not enter into the mass of bankruptcy nor serve to satisfy other creditors than those entitled to receive them.

Article 178. [ The right to request information relating to the property of the fallen] The syndicate may request the authorities of the government and local government to provide the necessary information on the assets of the bankrupt.

Article 179. [ Oblique to take due diligence] The syndicate is obliged to take due diligence in such a way as to allow the optimal use of the fallen assets to satisfy creditors in the highest possible degree, in particular by minimising the costs of the proceedings.

Article 180. (repealed)

Article 181. (repealed)

Article 182. (repealed)

Article 183. (repealed)

Article 184. (repealed)

SECTION III

Participants in proceedings

Chapter 1

Fallen

Article 185. [ Fallen] 1. This is the result of whom the order for the declaration of bankruptcy has been issued.

2. The announcement of bankruptcy shall not affect legal capacity and the ability to act bankrupt.

3. The retraining of legal persons and other organisational units without legal personality, to which the separate law grants legal capacity, after the declaration of bankruptcy, shall be permitted only in accordance with the provisions of this Act.

4. The costs associated with the functioning of the fallen bodies and the implementation of its organisational powers shall be determined each time-commissioner. These costs are included in the costs of insolvency proceedings. The decision of the Judge-Commissioner shall be entitled to a complaint.

Article 186. [ Acquisition of allowances fallen by the syndicate] After the declaration of bankruptcy, any bankruptcy rights attached to the participation in companies or cooperatives shall be exercised by the syndicate.

Article 187. [ Curator of the fallen] 1. If the bankruptcy does not have a procedural capacity and does not act as a statutory representative, as well as when in the composition of a fallen body which is a legal person or other organisational unit without legal personality, the separate law of which is granted the legal capacity, there are deficiencies preventing their action, the judge-the commissioner establishes for him the curator, who acts for the fallen in the bankruptcy proceedings. If a probable curator has been established on the basis of art. 26 par. 1 of the Act of 20 August 1997. on the National Court Register, the curator shall refer to the curator referred to in this provision.

2. Establishes a curator on the basis of the provision of the mouth. 1 shall not prevent the removal, in accordance with the general rules, of a lack of capacity or of deficiencies in the composition of the bodies which prevent them from acting. Once they have been completed, the appointment of a curator under the provisions of this Chapter shall be repealed

3. The curator shall not be subject to coercive measures. The curator is responsible for the damage as a syndicator.

4. The remuneration of the curator established on the basis of the mouth. 1 shall be determined by the Commissioner to the extent of the curator's workload as appropriate, applying the provisions on the remuneration of the curator established on the basis of Article 4 of the Rules of procedure. 26 par. 1 of the Act of 20 August 1997. o National Court Register. The remuneration of the curator required to settle the tax on goods and services shall be increased by the amount of the goods and services tax. The decision on remuneration and the reimbursement of expenses shall be entitled to a complaint. The complaint shall also be granted to the curator.

Article 188. [ Establishment of a probation officer in the event of death of the fallen] 1. In the event of death of the fallen his heir has the right to take part in the bankruptcy proceedings. If the heir is not known or has not entered the proceedings, the commissioner shall, at the request of the receiver or from the office, establish the curator to which the provision of Article 4 applies. 187 shall apply.

2. Establishes a curator on the basis of the mouth. 1 shall cease to have effect after the succession of the fallen heir to the proceedings, who has shown his rights by law to determine the acquisition of inheritance. The provisions on the rights and obligations of the bankrupt shall apply mutatis mutandis to the heir.

3. Paragraph Recipe 2 shall apply mutatis mutandis where the probation curator has been established.

Chapter 2

Creditors

Division 1

General provisions

Article 189. [ Creditor] The creditor within the meaning of the Act is each entitled to satisfy the mass of bankruptcy, even if the claim does not require a declaration.

Article 190. [ Creditor guardian] 1. For a creditor not having a judicial or procedural capacity, as well as for a creditor who is a legal person or another organisational unit without legal personality, whose separate law grants legal capacity, which has deficiencies in the composition of its bodies preventing its action, the judge-the commissioner may set up a curator to act in the bankruptcy proceedings, if this will contribute to streamline the proceedings.

2. Establishes a curator in accordance with the provisions of the paragraph. 1 shall not prevent the removal, in accordance with the general provisions, of a lack of judicial or procedural capacity or of deficiencies in the composition of the authorities which prevent them from acting. Once these deficiencies have been completed, the establishment of a curator on the basis of paragraphs 1 loses power.

3. The costs of the curator's operation shall be borne by the creditor, for whom the curator has been established, and shall be subject to the amnance of the sums paid to the creditor in the proceedings of the bankruptcy. If the agreement is concluded, and if the amount paid to the creditor in the insolvency proceedings is not sufficient to meet the costs of establishing the curator, the Commissioner shall issue a provision requiring the creditor to bear them. These costs shall be collected in accordance with the provisions on enforcement of court fees. The decision of the Judge-Commissioner shall be entitled to a complaint.

Division 2

Meeting of creditors

Article 191. [ The authority authorised to convene a meeting of creditors] Sędzia-commissioner convenes a meeting of creditors:

1) if, according to the provisions of the law, a resolution of the assembly is required;

2) at the request of at least two creditors with a total of no less than a third of the total of the total recognised claims;

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

Article 192. [ Notice on convening the creditors ' meeting] 1. Judge-the commissioner shall convene a meeting of creditors by the notice, indicating the term, place and subject of the proceedings and the manner of voting.

2. The destruction shall be carried out at least two weeks before the date of the meeting of the creditors.

3. In the event of a deferment of the assembly of creditors, the judge-the commissioner gives the present to the news a new term and place of the assembly; in such a case, no reproclamation shall be made. The previous vote of the creditor, who has not appeared at the deferred assembly of creditors, shall retain the power and shall be taken into account when calculating the results of the vote, if the same resolutions or resolutions are put to the vote at that meeting. more favourable to creditors.

Article 193. [ Assembly conduct] 1. The assembly of creditors shall be chaired by a judge-commissioner.

2. A protocol shall be drawn up from the meeting of the creditors.

Article 194. [ Persons required for personal residency] The syndicate, the members of the Board of creditors and the fallen requested to be heard are obliged to present themselves at the meeting of creditors. Their failure to do so, however justified, is not an obstacle to the holding of a meeting of creditors.

Article 195. [ The right to participate in the assembly of creditors] 1. If the Act does not provide otherwise, in the assembly of creditors shall have the right to participate with the voting rights of the creditors whose claims have been recognized. The creditors shall vote with the sum of the claims placed on the claim list.

2. Participation-the commissioner at the request of the creditor and after hearing the fallen person may allow to participate in the assembly of the creditor whose claim depends on the condition precedent or is prima facie case; according to the circumstances of the judge-commissioner means the sum according to which the voice of that creditor is calculated.

Article 196. [ Voting by proxy] 1. The faithful, who have a claim in solidarity or indivisible, shall vote by the common representative, to whom the power of attorney should be given in writing, with the signature of the notarized certified. The power of attorney granted to a lawyer or legal adviser shall not require a notarial certificate. A proxy may also be one of the creditors. The appointment of a representative of the creditor shall be required to notify the Judge-Commissioner in writing before the meeting of creditors or orally to the minutes at the assembly.

2. If the creditors do not make the choice of the proxy in accordance with the paragraph. 1, on behalf of the creditors shall vote the liquidator established by the provisions of the Act of 23 April 1964. -Civil Code on management related to co-ownership.

3. Failure to make by the creditors referred to in paragraph. 1 and 2, the appointment of the representative or the administrator shall not prevent the appointment of the creditors.

Article 197. [ Right to vote] 1. The creditor shall not have the right to vote on the basis of the receivables which he acquired by way of transfer or inexation after the declaration of bankruptcy, unless the transfer of the receivables occurred as a result of the payment of the debt, for which he corresponded personally or specific property items, from the legal relationship created before the bankruptcy.

2. (repealed)

3. (repealed)

4. (repealed)

Article 198. [ Voting] 1. The vote at the meeting of the creditors shall be carried out orally or in writing, and the description of the course and the result of the vote shall be made in the minutes. The minutes shall indicate the name of the voter, whether it votes in favour or against the resolution, and the amount of the claim it is voting against. If the vote is given in another person's name, the represented and the name of the voter shall be indicated. A creditor who abstained from the vote shall be deemed not to have taken part in the vote.

2. The participant of the proceedings may vote at the assembly of creditors also by the proxy.

Article 199. [ Uching Mode] 1. If the Act does not provide otherwise, the resolutions of the meeting of creditors shall be taken regardless of the number of present, majority of the creditors having at least the fifth part of the total amount of receivables attributable to the creditors entitled to to participate in this assembly.

2. In cases of exclusion of property from the mass of bankruptcy the resolutions shall be taken by a majority of the creditors having at least two thirds of the total accepted receivables.

Article 200. [ Repeal of resolutions by the judge-commissioner] Judge-Commissioner may repeal the resolution of the congregation of creditors if it is contrary to the law or violates the good mores or blatantly violates the interest of the creditor who voted against the resolution. The decision of the Judge-Commissioner shall be entitled to a complaint.

Division 3

Creditors ' Board

Article 201. [ Establishment of the creditor board] 1. The creditors ' board shall establish and establish and revoke the members of the board of directors-the commissioner from office, if he deems it necessary, or on request.

2. The Judge-Commissioner immediately, no later than the deadline of the week, establishes the creditors ' board at the request of the bankrupt, at least three creditors or the creditor or creditors having a total of at least the fifth of the sum of the receivables from the exclusion of the creditors referred to in Article 116 of the Act of 15 May 2015. -Restructuring law and creditors who have purchased a claim by transfer or indosis after the bankruptcy has been declared, unless the transfer of the claim has been effected by the payment of the debt by the creditor for which he or she was responsible, or specific asset items, from the legal relationship created before bankruptcy, or the acquisition of receivables after the notice in the Register of information about the mode and place of sale of the receivables, and the divestment took place in favour of the buyer who offered the highest amount.

3. Until the approval of the list of claims, the rights of creditors in matters concerning the Board of Creditors shall be determined on the basis of:

1) of the list of creditors attached by the debtor to the application for the declaration of bankruptcy;

2) an inventory of the undisputed claims presented at the request of the judge-commissioner by the receiver, drawn up on the basis of the accounts and other documents of the fallen;

3) submitted by the creditors of enforceable titles;

4) of the inventory of receivables drawn up in the restructuring proceedings.

Article 202. [ Composition of the Board of Creditors] 1. The creditor council shall be composed of five members and two alternates appointed from among the creditors of the debtor who are participants in the proceedings. The creditor board may consist of three members if the number of creditors of the debtor who are participants in the proceedings is less than seven. The Commissioner may appeal to the members of the Board of creditors who do not fulfil their duties and appoint others. The order shall be entitled to a complaint. The revoked truthful member of the Board of creditors may not be reappointed.

1a. Judge-Commissioner refers to the member of the Board of creditors at his request.

2. (repealed)

3. The creditor may not accept the duties of a member of the Board or his/her deputy.

4. The deputy member of the creditors 'board of provisions concerning the member of the creditors' board shall apply accordingly. A deputy member of the Board of Creditors may attend the meetings of the Board of creditors. He shall vote on the resolution in the absence of any of the members of the Board of creditors. Instead of an absent member of the Board of Creditors, the first place in the operative part of the decision of the Judge-commissioner of the appointment, if present at the meeting, shall be voted first in the operative part.

Article 202a. [ Appointment to a member of the creditor board of the creditor designated by the applicant] 1. At the request of the creditor or creditors having at least the fifth part of the amount of the claims entitled to the creditors who are participants in the proceedings, excluding the creditors specified in the Art. 116 of the Act of 15 May 2015. -Restructuring law and creditors who have purchased a claim by transfer or indosis after the bankruptcy has been declared, unless the transfer of the claim has been effected by the payment of the debt by the creditor for which he or she was responsible, or specific asset items, from the legal relationship created before bankruptcy, or the acquisition of receivables after the notice in the Register of information about the mode and place of sale of the receivables, and the divestment took place in favour of the buyer who offered the highest amount, the judge-the commissioner appoints a member of the board creditors of a creditor designated by the applicant, unless there is a reasonable presuming that the creditor in question will not be duly satisfied with the obligations of a member of the Board of creditors. Only the applicant shall be entitled to an order which dismissies the application.

2. Where the creditor or creditors requesting the appointment of a member of the Board of Creditors hold at least two fifths of the amounts owed to the creditors who are participants in the proceedings, with the exception of the creditors referred to in Article 116 of the Act of 15 May 2015. -Restructuring law and creditors who have purchased a claim by transfer or indosis after the bankruptcy has been declared, unless the transfer of the claim has been effected by the payment of the debt by the creditor for which he or she was responsible, or specific asset items, from the legal relationship created before bankruptcy, or the acquisition of receivables after the notice in the Register of information about the mode and place of sale of the receivables, and the divestment took place in favour of purchasers who have offered the highest amount may indicate after one candidate for a member of the creditors ' board for each fifth of the claims held.

3. The creditor or the creditors whose application referred to in the paragraph. 1 or 2 has been included, may not submit an application for the appointment of further members of the Board of creditors, unless a member of the previously appointed on their application has been revoked.

Article 203. [ Application to change the composition of the creditors ' board] 1. At the request of the creditor or creditors having at least the fifth part of the amount of the claims entitled to the creditors who are participants in the proceedings, excluding the creditors specified in the Art. 116 of the Act of 15 May 2015. -Restructuring law and creditors who have purchased a claim by transfer or indosis after the bankruptcy has been declared, unless the transfer of the claim has been effected by the payment of the debt by the creditor for which he or she was responsible, or specific asset items, from the legal relationship created before bankruptcy, or the acquisition of receivables after the notice in the Register of information about the mode and place of sale of the receivables, and the divestment took place in favour of the buyer who offered the highest amount, the judge-the commissioner changes the composition of the board creditors, citing a member of the creditor board of the creditor designated by the applicant, unless it is justified to assume that the creditor indicated will not be duly satisfied with the obligations of the member of the creditors ' board. Only the applicant shall be entitled to an order which dismissies the application.

2. Rules of Art. Paragraph 202a (1) 2 and 3 shall apply mutatis mutandis.

3. The Commissioner, changing the composition of the Board of creditors, may not revoke a member of the board of creditors appointed on the basis of the paragraph. 1 or Art. 202a, unless requested by the creditors on which the request of the member was appointed.

Article 204. [ Full duties of the members of the Board of creditors] 1. The members of the Board of Creditors shall perform their duties in person or by proxy.

2. Plenipotentiary shall be submitted to the President of the Board, who shall submit them to the act of proceedings together with the protocol of the meeting of the Board of creditors.

Article 205. [ Creditor's tasks] 1. The Council of creditors grants the assistance to the receiver, controls its activities, examines the state of the funds of the bankruptcy, grants authorisation to acts which can be carried out only with the permission of the creditors of the creditors, and expresses its opinion on other matters, if requests a judge-commissioner or the receiver. The creditors shall be guided by the interests of the creditors in the performance of their duties.

2. The Council of creditors or its members may submit to the Judge-Commissioners their comments on the activity of the syndicate.

3. The creditors ' council may request the bankruptcy and the syndicate to examine the books and documents relating to bankruptcy in so far as it does not violate the company's secrecy. The Commissioner has doubts about the extent of the powers of the members of the Board to examine the books and documents of the fallen.

Article 206. [ Requiring authorisation of the creditors ' board] 1. The permits of the Board of creditors under the contestation of invalidity shall require the following:

1) the continuation of the company by the receiver, if it is to last more than three months from the day of the bankruptcy;

2) waiver of the sale of the company as a whole;

3) sale from the free hand of property which is part of the mass of bankruptcy;

4. the borrowing of loans or loans and the burdens on the assets of the bankrupt limited rights in rem;

5) (repealed)

6) recognition, renunciation and conclusion of the settlement as to the claims of the contentious and the subject of dispute settlement of the arbitration court.

1 1 . (repealed)

2. If the act referred to in paragraph 1 1 and 1 1 It must be effected without delay and shall be valid for a value not exceeding ten thousand zlotys, a receiver, a judicial supervisor or an administrator may carry it out without the permission of the Board.

3. The permit of the creditor board for the sale of movable property is not required, if the value indicated in the inventory of the estimate of all the movable assets falling within the mass of the bankruptcy does not exceed the equivalent of 50 000 PLN.

4. To permit the sale of receivables and other rights, if the indicated in the inventory of receivables the nominal value of all receivables and other rights falling into the mass of bankruptcy does not exceed the equivalent of 50 000 PLN, provision of the paragraph. 3 shall apply mutatis mutandis.

5. An entry in the property of a bankrupt property in a perpetual register or a register made without the authorisation required by the mouth. 1 shall be removed from office. The basis for the deletion shall be the final decision of the Judge-Commissioner as to the admissibility of the alert. The decision of the Judge-Commissioner shall be entitled to a complaint.

Article 207. [ Decision-making mode by the creditors ' council] 1. The Board of creditors shall perform the acts by taking resolutions at meetings, unless the Rules of Procedure provide otherwise. Meetings of the Board of Creditors may be carried out using means of direct distance communication.

1a. If the resolution is not taken at the meeting, it shall be necessary to cast votes by all the members of the Board of creditors. In such a case, the vote shall not be given to the alternate member of the Board of creditors

1b. Resolutions of the Board of Creditors shall be taken by a majority of votes, if the Act does not provide otherwise, within two weeks from the date of submission of the application to the Board.

2. The Board of creditors may audit the activities of the syndicate and examine the state of the funds of the mass of bankruptcy by the member or members indicated in the resolution.

3. The praise of the Board of creditors of the examination of the books and documents of the bankrupt company shall be performed by the members of the Board of creditors, or, where special messages are required, other persons. The costs of the study do not constitute costs of the proceedings and do not burden the mass of bankruptcy.

4. From the control of the bankrupt or the receiver, and the examination of the books and documents, the Board of creditors shall report to the Judge-Commissioner. From other activities, the Board of creditors shall submit a report to the judge-commissioner on request.

Art. 207a. [ Uchwała o Shift syndicka] 1. As a result of the resolution of the Board of creditors taken in full composition, for which at least four members voted, or by a resolution of the creditors of the creditors undertaken in accordance with the motion of a fallen court, the court changes the receiver and appoints to carry out this function a person meeting the requirements referred to in Article 157 ust. 1 or 2, as indicated by the Board of creditors, unless it would be unlawful, would abnormally violate the interests of the creditors or there is a reasonable presumation that the person indicated would not be duly fulfilled. The order of the court refusing the appointment of a person designated by the board of directors shall be entitled only to the members of the board of creditors and to the fallen.

2. If the Board of creditors is made up of three members, the resolution referred to in the paragraph shall be adopted. 1, shall be taken unanimously.

Article 208. [ Convening board meetings of creditors] 1. The first meeting of the Board shall be convened by the syndicate immediately after the appointment of the Board of creditors. The Board of creditors at its first meeting shall adopt the Rules of Procedure, which shall specify in particular the mode of meetings, the method of collection of votes and the principle of cooperation of the Council with the receiver, including the manner in which applications are submitted to the The Board of creditors shall, at the first meeting, select from among its members the President of the A meeting of the Council shall be convened by the President of the Council, by notifying the members and alternates of the date, place and subject of the meeting The Rules of Procedure may specify the manner in which the members of the Board The meeting of the Board of Creditors shall be chaired by the President of the Council, unless otherwise specified by

2. The meeting of the Board of creditors may also convene a judge-the commissioner, who shall chair the meeting.

Article 209. [ Minutes of sitting] 1. A protocol shall be drawn up from the meeting of the Board of creditors. The minutes shall be signed by the present and the refusal of signature shall be indicated in the minutes. Where a meeting takes place using means of direct distance communication, the minutes shall be signed only by the President of the Council, with an indication of the reason for the absence of other signatures, unless otherwise indicated in the Rules of Procedure.

2. The President of the Council shall, immediately after the meeting, forward a copy of the minutes to the Judge-Commissioner's protocol and to the administrator if he/she is not present at the meeting. Copies of the resolutions adopted at the meeting shall be attached to the copy of the minutes.

3. After the resolution without convening a meeting of the Board of creditors, the President of the Board shall immediately transmit the copy of the resolution to the Judge-Commissioner.

4. The provisions of the paragraph. 1-3 shall not apply in the case of a meeting of the Board of creditors referred to in art. 208 para. 2.

Article 210. [ The placement of the resolution of the creditors ' board in the Register] 1. The Resolutions of the creditors shall be published in the Register.

2. Within a period of one week from the date of the posting of the resolutions of the creditors in the Register, the participant of the proceedings and the syndicate may bring charges against the resolution. The pleas filed after the expiry of the time limit or which do not correspond to the formal requirements of the pleadings shall be left unrecognised Article Article 130 § 1 of the Code of Civil Procedure does not apply.

3. The police-commissioner recognizes the allegations within a week from the day of submission of the charges to him.

4. Judge-the commissioner as a result of recognizing the allegations or of the office within two weeks from the date of posting the resolution of the creditors ' board in the Register may repeal that resolution if it is contrary to the law or violates the interest of the creditors. The decision of the Judge-commissioner of the complaint is only entitled to the applicant, to the bankruptcy and to the members of the Board of creditors.

5. The implementation of the resolution shall not take place earlier than two weeks from the date of its insertion in the Registry. The Commission may suspend the execution of a resolution until the decision on the examination of the plea or the decision to waive the resolution of the Board of Creditors is entitled to lapse.

Article 211. [ Remuneration for participation in the meeting of the creditors ' board] 1. The Member of the Board of creditors shall be entitled to reimbursement of the necessary expenses related to its participation in the meeting of the Board of creditors. For participation in a meeting, the Commissioner may grant a member of the Board the appropriate remuneration, if this is justified by the nature and degree of the complexity of the case and the scope of the work to be carried out. This remuneration may not exceed 3% of the monthly average remuneration referred to in Article 3. 162 par. 2, for one day of the meeting. Remuneration and reimbursement of expenses shall be included in the costs of the proceedings.

2. The order on remuneration and reimbursement of expenses shall be issued by the Commissioner after the hearing of the member of the Board of creditors and the receiver.

Article 212. [ Liability of the members of the Board of creditors for the damage resulting from the unfit of duties] 1. A member of the Board of creditors shall be liable for the damage resulting from the improper performance of his duties.

2. The creditor acting in the board of the creditor shall be responsible for the damage caused by the irresponsible execution of his duties.

Article 213. [ Executing the task of the council of creditors by the judge-commissioner] 1. If the Board of creditors has not been established, the actions reserved for the council of creditors shall be taken by the judge-commissioner.

2. The Commissioner shall also perform the tasks reserved to the Board of Creditors if the Council fails to execute them within the time limit set by the Judge-Commissioner or within the time limit laid down in the Article. 308 par. 2.

SECTION IV

General provisions relating to proceedings after the declaration of bankruptcy

Article 214. [ Adjudication at a secret meeting] The court shall adjudicate in an implicit session if the Act does not provide otherwise.

Article 215. [ The merger to the joint recognition of the bankruptcy of a civil partnership] 1. In the event of a declaration of bankruptcy of all accomplices of a civil company, the court may combine to the joint recognition of the bankruptcy case held with the shareholders of the company. If the bankruptcy of the various courts has been declared, the provisions of Article 4 149 (1) 2 and 3 shall apply mutatis mutandis.

2. In the order of association of cases, the court shall appoint one Judge-commissioner to all the joined cases. The court may also appoint one syndicate to all the combined cases, appoint one creditor council and appoint a joint meeting of creditors.

3. Separate lists of receivables and plans for the distribution of bankruptcies shall be drawn up for each of the fallen debts, in which the satisfaction of the receivables is taken into account by the office and shall be jointly jointly and severally liable for the purposes of the proceedings.

4. The remuneration of the receiver and the costs of liquidation shall be borne by the mass of the bankruptcy of each of the fallen in the parts determined by the court, with due regard to the rules for the granting of remuneration.

5. In the event of a declaration of bankruptcy of a commercial company and of its shareholders liable for the obligations of the company without limitation of the whole of its assets, and if the court finds it justified the connection of bankruptcy cases to other bankrupt persons, in particular to affiliated entities and spouses, the provisions of paragraph 1. 1-4 shall apply mutatis mutandis.

Article 216. [ Plenipotentiary] The provisions of the Civil Code shall apply to the power of attorney referred to in the Act, if the Act does not provide otherwise.

Art. 216a. [ Submission of documents in electronic form] 1. If the Act provides for the submission of a document in electronic form, the document shall be filed through the Registry and shall be provided with a secure electronic signature verified by a valid qualified certificate or by signature Trusted ePUAP profile confirmed.

2. The documents submitted in electronic form shall be printed and attached to the act exclusively on the order of the judge-commissioner.

Article 216b. [ Obligation of cooperation of bankruptcy bodies] The bodies of insolvency proceedings shall be obliged to cooperate with each other.

Article 217. [ Listening to participants and other persons] 1. If there is a need to carry out evidence from a hearing of the fallen, the receiver, the creditor, a member of the board of creditors or other persons, the court or the judge-the commissioner, according to the circumstances, interrogates them at the meeting and of the hearing prepares the minutes, irrespective of the presence of other persons concerned, or from the persons interrogated by written statements; these statements shall constitute evidence in the case.

2. The Tribunal or a judge-the commissioner may also order that the statement in writing referred to in the paragraph. 1, containing a notarial signature certified.

3. The absence of the person referred to in the mouth. 1, called for a meeting or failure by that person to make a statement in writing, even for reasons of justification, shall not be in a position to do so.

4. The provisions of the paragraph. 1-3 shall also apply to the carrying out of evidence from witness statements and to expert hearings.

Article 218. [ Application for proof] The administrator shall submit a request for proof to the commissioner, if it considers it necessary to establish the circumstances of the case by means of evidence. In the event that the request is taken into account, the investigation is carried out by the Commissioner.

Article 218a. [ Confidentiality of the participant in the proceedings without a proxy] The court or court-the Commissioner, appointing a hearing, instructs the participant to proceed in the case without a lawyer, legal counsel, persons holding the license of a restructuring adviser, a patent ombudsman or a counselor of the Prosecutor General of the Treasury States with the content of art. 162, art. 206 § 2 point 3, art. 207, Art. 217, art. 229 and Art. 230 of the Code of Civil Procedure in the scope, which is justified by the subject matter, to be recognized at the hearing.

Article 219. [ Form of decisions in bankruptcy proceedings] 1. In bankruptcy proceedings, decisions shall be made in the form of provisions. The order and the document which relates to the bankruptcy component shall indicate the number of the mass component disclosed in the inventory or in the inventory of receivables or in other inventories.

(1a) The provisions and orders issued in the insolvency proceedings shall be entered in the Register together with information on the date and the manner in which the appeal is lodged.

1b. The participants of the proceedings shall have access to the data contained in the Registers of the provisions, regulations, documents and information.

2. (repealed)

3. The resolution of the creditors and the meeting of creditors of the provisions of the paragraph. 1 second sentence and paragraph 1. 1a and 1b shall apply mutatis mutandis.

Article 220. [ Serving provisions] 1. The order issued in an implicit meeting shall be delivered to the bankruptcy, to the persons to whom the order relates, and to the administrator, if the Act does not provide otherwise. The provisions relating to the general creditors shall not be served on the creditors.

2. The Scriptures and the provisions referred to in paragraph 1. 1, shall be served by means of electronic delivery, if the letter has been lodged via the Registry or the electronic service has been selected via the Registry. Article Recipe 131 1 § 2 of the Code of Civil Procedure shall apply accordingly.

Art. 220a. [ Call, notification and service with the omission of general provisions] Judge-Commissioner to speed up proceedings may make calls, notices and service in a manner which he considers in the circumstances of a particular case to be the most deliberate, even with the omission of general provisions, if the manner of the call, notices or service allows the addressee to read the contents of the information received.

Article 221. [ How to make a notice] 1. In the cases provided for in the Act of the Notice shall be made in the Registry. Where, as of the date of the Notice, the time limit for bringing an appeal is run, the notice shall also be given information on the manner and timing of the lodging of the appeal.

2. At the request of the administrator or from the office of a judge-the commissioner may order the notification to be made in other ways as well.

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

4. Everyone has access to the data contained in the Registers of the Regulations, Regulations, Documents and Information.

5. The Minister of Justice shall make public in the Registers the models of documents and pleadings specified in the Act.

Article 222. [ The complaint to the order of the bankruptcy court or the judge-commissioner] 1. In the order of the bankruptcy court and the judge-the commissioner of complaint shall be entitled in the cases indicated in the Act. Complaints to the Judge-commissioner shall be recognized by the bankruptcy court as a court of second instance.

2. A copy of the complaint lodged by the creditor shall be served by the bankruptcy, the receiver, and the persons to whom the contested decision is sought.

3. A copy of the complaint lodged by the bankrupt shall be delivered to the receiver and to the persons to whom the contested decision is sought.

If the law provides that a complaint may be lodged by a person who is not a participant in the insolvency proceedings, a copy of the complaint shall be delivered to the bankrupt, to the receiver and to the persons concerned by the contested decision.

4. The write-off of the complaint to the provisions concerning the general creditors shall not be served on the creditors.

(5) The complaint shall be recognised within 30 days from the date of submission of the file to the court of second instance.

Article 223. [ Complaint inadmissibility of the cassation complaint 1. From the provisions of the court of the second instance the cassation complaint shall not be entitled, unless the Act provides otherwise.

2. An application for a declaration of non-compliance with the law of a final decision shall not be granted.

Article 224. [ Term of the time limit for bringing an appeal] 1. The term to lodge an appeal against the provisions issued in an implicit meeting shall run from the date of the insertion of the order in the Register. The complaint shall be lodged within a week.

2. If an order issued in an implicit meeting is subject to notice, the time limit for bringing the measure of appeal shall run from the date of the notice.

3. For persons to whom the Act orders to serve the order issued in an implicit meeting, the time limit for bringing the measure of appeal shall run from the date of service of the order.

4. If the order from which the appeal is entitled was proclaimed in the public hearing, the persons notified of the meeting within one week of the meeting, and persons who have not been notified of the meeting in public, from the date of the hearing, shall be notified to the public at the hearing. if the order is subject to a notice, from the date of the notice in the Register, they may request that the statement of reasons be drawn up and the provision of the order be served together with the reasons for it. The time limit for the lodging of the appeal shall run from the date of service of the order, together with the reasons for it.

Article 225. [ Deadline for lodging a complaint against the activities of the bailicle in the course of bankruptcy proceedings] Complaints of the bailiers ' activities in the course of insolvency proceedings shall be lodged within a weekly period from the date of completion of the action.

Article 226. [ Security] 1. The security in the cases specified in the law shall be effected by the deposit of the relevant monetary amount to the court.

2. On the issue of the sum of the deposit to the deposit, the commissioner shall, after hearing the syndicate and the persons concerned, shall be heard.

3. (repealed)

4. In order to order the judge-the commissioner on the security shall be entitled to a complaint.

Article 227. [ Retention of sums of money in a bank account or a deposit] Sums of money entering the mass of bankruptcy and sums obtained from disposing of goods and rights in kind, if they are not subject to immediate issue, the syndicate shall submit to the interest-bearing bank account or to the deposit account of the Minister of Finance.

Article 228. [ Making a case file available] 1. The court records shall be made available at the Registry of the court to the participants in the proceedings and to any person who is required to review them sufficiently justifying. Those persons may receive copies and extracts from the file and without any additional charge to be drawn up in their own right of photocopies.

2. The self-contained computer printouts of the provisions, orders and documents proclaimed or posted in the Registry shall have the power of officially certified copies, if they possess the characteristics enabling them to verify with the data contained in the Registry.

3. From the date of the Notice in the Register, the non-knowledge of the contents of the notice may not be obscure, unless, despite the exercise of due diligence, it was not possible to learn about the Notice.

Article 229. [ Appropriate application of the provisions of the Civil Procedure Code] In cases not governed by the Act, the provisions of the First Part of the First Code of Civil Procedure, with the exception of the provisions on suspension and the resumption of proceedings, shall apply mutatis mutandis to the bankruptcy proceedings.

CHAPTER V

Costs and other liabilities of bankruptcy

Article 230. [ Costs and expenses of insolvency proceedings] 1. The costs of the proceedings include expenses directly related to the security, management and liquidation of the mass of bankruptcy, in particular the remuneration of the syndicate and its deputies, the remuneration of persons employed by the syndicate and receivables from the the title of social security contributions from the remuneration of such persons, remuneration and expenses of the members of the creditors ' board, expenses associated with the assembly of creditors, costs of archiving documents of the bankrupt, correspondence, notices, taxes and other tributes public associated with the liquidation of the mass of bankruptcy.

2. The other liabilities of the mass of bankruptcy shall include all those not included in the paragraph. 1. the obligations of the mass of insolvency arising after the declaration of bankruptcy, and in particular the receivables from the employment relationship after the date of the bankruptcy, the obligations arising from unjust enrichment of the mass of bankruptcy, the obligations of the the bankruptcy of contracts the execution of which was requested by the receiver, other obligations arising from the syndication activity and the time after the bankruptcy of the pension for compensation for the invocation of the disease, incapacity for work, disability or death and pension for the conversion of rights covered by the content of life of life for a lifetime annuity.

Article 231. [ Covering the costs of the proceedings] 1. (repealed)

2. Unsatisfied with the bankruptcy mass of the obligations referred to in art. 230, after the end of the insolvency proceedings, have fallen. In the event of the repeal of the insolvency proceedings, the Commissioner may relieve the fallen from the costs of judicial proceedings.

3. The decision of the Judge-Commissioner as to the costs shall be entitled to a complaint.

Article 232. [ Advance on the costs of the proceedings] 1. In the event of need, in particular in the absence of liquid funds of bankruptcy, the commissioner shall convene a meeting of creditors on the decision to make a decision on the payment by creditors of the advance to cover the costs of the proceedings, or the undertaking of creditors having the largest receivables, the aggregate amount of which shall be at least 30% of the sum of the claims for the creditors entitled to participate in the assembly, to make an advance payment of the costs of the proceedings.

2. Where the list of claims has not been drawn up, the amount of the claims to which the creditors are entitled shall be determined on the basis of the list of creditors lodged in the proceedings concerning the declaration of bankruptcy or on the basis of an inventory of the claims the claims drawn up in the restructuring proceedings or on the basis of the inventory of the uncontested claims submitted at the request of the judge-commissioner by the receiver, drawn up on the basis of the accounts of the fallen.

Article 233. [ Return costs to creditor] The creditor shall not have the right to reimbursement of the costs incurred by him in the insolvency proceedings. The creditor shall, however, seek the costs of the proceedings which he has incurred as a result of opposition to the recognition of the claim of another creditor if, as a result of that opposition, the contested claim has been refused, as the case may be, the advance payment is also paid to the costs of the proceedings which he or she requested, either at the request of the Judge-Commissioner, or in accordance with the resolution of the creditors ' meeting, if the funds of the mass of bankruptcy were sufficient to cover it.

Article 234. [ Reimbursement of costs by the creditor] 1. The creditor of the repayment to the mass of the bankruptcy of the costs resulting from the actions taken by the creditor in the insolvency proceedings may not be requested.

2. After the end of the bankruptcy proceedings, the bankrupt shall not require the creditor to repay the costs of the proceedings, unless there has been a repeal of the insolvency proceedings, and the creditor has requested the declaration of bankruptcy in bad faith.

Article 235. [ Burden of the creditor costs] 1. The costs of insolvency proceedings arising from the declaration of the claim by the creditor after the expiry of the period prescribed for the submission of the claim, even if the delay arose without the fault of the creditor, shall be borne by the creditor, who reported the claim after the deadline.

2. The party-the commissioner may oblige the creditor to make an advance on the costs related to the declaration of the receivables after the expiry of the deadline set for the notification. In the event of a non-payment, the claim shall be repaid.

TITLE V

Notification and determination of claims

SECTION I

Declaration of claims

Chapter 1

Claims subject to notification

Article 236. [ Eligibility for the declaration of claims] 1. A personal creditor of a bankrupt who wishes to participate in the insolvency proceedings, if it is necessary to determine his receivables, should, within the time limit marked in the order of declaration of bankruptcy, report to the judge-the commissioner of his the claim.

2. The entitlement to the claim shall also be entitled to the creditor when his claim has been secured by a mortgage, a pledge, a registered pledge, a treasury, a sea mortgage or another entry in a perpetual book or in a register ship. If the creditor does not report these claims, they will be placed on the list of receivables from the office.

3. Paragraph Recipe 2 shall apply mutatis mutandis to claims secured by mortgages, a pledge or a registered pledge, a fiscal pledge, a mortgage on things falling within the mass of bankruptcy, if the bankruptcy is not a personal debtor, and the creditor wants in the bankruptcy proceedings assert their claims in respect of the object of the security.

4. The provisions of this Article concerning the claim shall apply to other receivables subject to the amnance from the mass of bankruptcy.

Article 237. [ Employment Receivables] They do not require a claim on the employment relationship. Claims for that title shall be placed on the list of claims ex officii.

Article 238. [ Claim for reimbursement of the bankruptcy of benefits paid to employees] 1. The provisions relating to employee claims shall apply mutatis mutandis to the claims of the Guarantee Fund Guarantee Fund for reimbursement from the bankruptcy of benefits of the Fund paid to employees of the fallen.

2. The provisions relating to the claims of the Social Insurance Institution shall apply mutatis mutandis to the claim of the Agricultural Social Insurance Fund.

Chapter 2

Declaration of claims

Article 239. [ Form of claim form] 1. The payment of the claim shall be made in writing in two copies.

2. The creditor can make the declaration of receivables via the Registry.

3. In the declaration of the claim, the creditor shall indicate the evidence justifying the notification.

4. The Minister of Justice shall determine, by way of regulation, the model of written declaration of the claim and the scope of the data covered by the declaration of the claim through the Registry, with a view to its transparency and completeness and simplification and an acceleration of the notification of the claim in electronic

Article 240. [ Ticket Content] In the declaration of the claim, state:

1. the name or the name of the creditor and his or her place of residence, address, address and number of the PESEL or number in the National Court Register and, in the absence thereof, other data enabling him to be unambiguable;

2) the determination of receivables together with the collateral receivables and the value of the non-monetary claim;

3) evidence of the existence of a claim; if the claim is recognised in the inventory of the receivables drawn up in the restructuring proceedings, it is sufficient to invoke that circumstance;

4. the category to which the claim is to be credited;

(5) collateral related to the claim;

6) in the event of a declaration of the claim, in respect of which the fallen is not a personal debtor, the subject of the security, from which the claim is subject to the vow;

(7) the state of the case where there is judicial, administrative, judicial or amicable legal proceedings in respect of the claims;

(8) if the creditor is a shareholder or a shareholder of the bankru-ent company, the number of shares or shares held and the type of shares held.

Chapter 3

Check for claimed claims

Article 241. [ The transfer of the written request to the receiver, the judicial supervisor or the administrator] Where the declaration of claims complies with the requirements laid down in Article 4. 239 and art. 240, judge-Commissioner immediately, no later than two weeks, gives a copy of the notification to the receiver.

Article 242. [ Reimbursement of call without call for completion] If the declaration of the claim is made by the creditor represented by the plenipotentiary, who is the lawyer or the person holding the licence of the restructuring adviser, the declaration of the claim that does not comply with the requirements specified in art. 239 and art. 240 or other deficiencies which prevent the notification of the gear shall be returned without calling for it to be completed.

Article 243. [ Review of the claimed claim] 1. Syndicts shall check whether the claim for a claim is confirmed by the accounts or other documents either bankrupt or in the entries in the register or in the register, and calls for the declaration to be made within the time limit set out in the statement, whether or not the claim is made the claim recognises.

2. Where the claimed claim is not confirmed in the accounts or other documents of the bankrupt or in the entries in the register or records, the syndicate shall invite the creditor to submit within a week of the documents indicated in the declaration of the claim under the rigorous refusal to accept the claim. This time limit shall not be extended or restored. However, the syndicate may take into account documents submitted after the expiry of the time limit, if this does not result in a delay in the transmission of the list to the Judge-Commissioner.

3. The receiver of the creditor by the receiver to submit the documents shall include an instruction on the consequences of failure to fulfil the term.

SECTION II

Claim List

Chapter 1

Establishing the list of claims

Article 244. [ Drafting of a list of claims] Upon expiry of the time limit for the filing of the claims and the verification of the claimed receivables, the syndicate shall draw up a list of the claims without delay, no later than two months after the expiry of the period for reporting

Article 245. [ Data Included in List] 1. On the list of claims shall be entered in separate boxes:

1) an ordinal number;

2) the name of the creditor or his or her name, place of residence or seat, address and PESEL number or number in the National Court Register, and in the absence thereof-other data enabling his unambiguous identification;

3) the sum in which the claim is credited, and the sum by which the vote of the creditor will be calculated in the vote on the arrangement;

(4) the category in which the claim is subject to cover;

5) information on the existence and type of collateral of the claim;

6) information whether the claim depends on the condition;

(7) whether the creditor is entitled to a right of set-off;

(8) justification;

9) information on the state of legal proceedings, administrative, judicial or proceedings before the amicable court on the reported receivables, its security or the right of deduction.

2. If the receiver denies, in whole or in part, the statements of the creditor, it shall justify it in a separate box. This justification and the explanatory memorandum referred to in paragraph 1 shall be justified. Article 1 (8) includes an indication of the facts on which the claim is based and the documents relating to the claim.

3. In the case of secured claims the sum by which the vote of the creditor will be calculated in the vote on the arrangement shall be marked according to that part of the receivables, which is likely not to be satisfied from the object of the security.

4. Syndicate shall include in the list of receivables also the declaration of the fallen and the justification given by him, if the failed statement made such a statement, or the mention that the fallen statements did not, and for what reason.

5. The Minister of Justice shall determine, by means of a regulation, the model of the claim list, having regard to the scope of the information recognised in the list of claims, the readability and completeness of the list.

Art. 245a. [ Breakdown of claims] 1. The claim for the financial period during which the bankruptcy was declared, in particular as a result of rent or lease, taxes or social security contributions, shall be subject to the right of proportional division to the part of the treated as a claim before the date of the bankruptcy, and the part treated as a claim arising after the date of the bankruptcy.

2. If the object of leasing does not constitute the beneficiary of a bankrupt permanent measure within the meaning of the Act of 26 July 1991. o Income tax on individuals (Dz. U. 2012 r. items 361, of late. zm.) and the Act of 15 February 1992. o corporate income tax (Dz. U. of 2014 items 851, with late. zm.), do Contract leasingu recipe ust. 1 shall apply.

3. If the settlement of public-law receivables requires the preparation of a declaration or other such document covering the settlement, both of the part of the claim referred to in paragraph. 1, they shall be accounted for in separate declarations or other such documents.

Article 246. [ Placement on the monetary claim list] The non-monetary claim will be included in the list of claims for the sum of the money in accordance with the value of the claim on the date of the bankruptcy.

Article 247. [ Monetary Claim not due] 1. If, on the date of the declaration of bankruptcy, the claim without reservation of interest has not yet been due, on the list of receivables shall be placed the sum of the monetary claims less the statutory interest, not higher than 6% and in the period from the day a declaration of bankruptcy until the date of maturity, but at most in two years.

2. Interest on monetary claims shall be entered in the list of receivables in the amount calculated up to the day preceding the day of the bankruptcy, inclusive.

Article 248. [ Receivable of the debtor or guarantor of the bankrupt] 1. The claim to which the debtor is a co-debtor and the claim of the guarantor of the fallen claim shall be placed on the list at the amount in which the debtor or guarantor has satisfied the creditor.

2. The debtor, guarantor, guarantor or opening bank of the letter of credit may make the declaration of the claim before the creditor is satisfied. The claim list shall include the claim of the debtor, the guarantor, the guarantor or the opening bank of the letter of credit, which has not satisfied the creditor as a contingent claim, which shall not entice to vote at the assembly of creditors.

Article 249. [ Claims for recurring benefits] 1. Claims for recurring benefits, the duration of which is marked, shall be included in the list as the sum of the benefits for the entire duration of their duration, less statutory interest, not higher than 6% and for the time from the day of the announcement bankruptcy until the date of the requirement of any future benefit.

2. Claims for recurring benefits, the duration of which is determined for the duration of the life of the rightholder or other person, or unmarked as to the duration, shall be entered in the list of receivables as the sum representing the value of the law.

3. If, in the contract for the right to recurring benefits, the sum of the buy-back is determined, the sum of the redemption is placed on the list as the value of the law.

4. The provisions of the paragraph. 1-3 shall not apply to maintenance services.

Article 250. [ A claim secured by a mortgage or an entry in the register] A claim secured by a mortgage or an entry in the register on a bankrupt property situated abroad shall be included in the list if proof of the deletion of the security alert is submitted. Proof of deletion of the security alert shall not be required if the insolvency proceedings have been recognised in the country where the security is located.

Article 251. [ Foreign Currency Claim] The claim in foreign currency irrespective of the maturity of the foreign currency shall be placed on the list converted into Polish currency according to the average foreign exchange rate at the National Bank of Poland on the date of the bankruptcy, and when such a course was not-by the average market price from that date. The placement on the list of receivables converted into the Polish currency does not convert the obligation expressed in foreign currency to the obligation in Polish currency. Settlement of the claims in the execution of the distribution plan shall take place in Polish currency.

Article 252. [ Submission of claims after time] 1. If the claim has been notified by the creditor after the expiry of the period prescribed for the declaration of the claim, regardless of the reason for the delay, the acts already carried out in the bankruptcy proceedings shall be effective against that creditor, the notification has no bearing on the allocation plans already submitted and its recognised claim shall be taken into account only in the plans to divide the funds of the insolvency proceedings drawn up after its recognition.

2. If the order for the claim notified after the expiry of the period prescribed for the declaration of the claim has not been issued or has not become final until the date of termination or redemption of the insolvency proceedings, the proceedings in this the scope shall be remitted. However, if the claim is submitted after the approval of the final plan for the distribution of the bankruptcies, it shall be left unrecognisant.

Article 253. [ Supplement to the list of claims] 1. After the expiry of the period prescribed for the submission of receivables, the syndicate shall supplement the list of claims as the claim is

2. If the claims were submitted after the transfer of the claim list to the Judge-Commissioner, the administrator shall draw up the list of claims covering such claims, together with an indication of how they will be satisfied.

Article 254. [ Inclusion of creditor change in list] 1. The change of the creditor after the declaration of the claim shall be taken into account in the list of claims only if it has been established by an official document or a non-doubt private document with the signature officially certified and when the change the creditor has been notified to the Court before the claim is sent to the Judge-to-the-Commissioner. Judge-Commissioner may take into account the change of creditor declared after the transfer of the claim list and before the final approval, if this does not result in a delay in the proceedings.

2. Failure to take account of the changes referred to in paragraph. 1, does not deprive the purchaser of the receivables of the possibility of implementing his powers under the provisions of the Act in the course

Chapter 2

Appeals of the claim list

Article 255. [ Announcement and release of receivables list] 1. The list of claims shall be made in electronic form. It shall be included in the Register.

2. The date of submission of the list of claims shall be announced.

Article 256. [ Objection to the recognition or refusal of recognition of the claim] 1. Within two weeks from the date of the notice referred to in art. 255 (1) 2, the creditor may submit to the judge-commissioner the opposition as to:

1) recognition of the claim-in the case of the creditor placed on the list of receivables;

2) refusal of recognition of the claim-in the case of the creditor who has been refused the recognition of the claimed claim.

(2) At the same time, the opposition shall be subject to a bankruptcy unless the project is not in conformity with its proposals or statements. If the lapse did not make statements, although it was called upon to do so, it may object only if it is shown that it has not made statements for reasons beyond its control.

Article 257. [ Formal objection requirements] (1) Opposition should comply with the formal requirements of the pleadings and, furthermore, point to the claim under appeal, and shall include an application as to the recognition or refusal of recognition of the claim and the justification and indication of the evidence in support of the claim.

2. If the opposition does not comply with the requirements indicated in the paragraph. 1 or no payment due, provision of art. 130 of the Act of 17 November 1964. -The Code of Civil Procedure shall apply mutatis mutandis. Judge-Commissioner rejects the opposition filed after the expiry of the deadline or for other reasons inadmissible, as well as the objection, the lack of which the party did not supplement, or the opposition from which the party did not request the due fee within the prescribed period.

3. (repealed)

Article 258. [ Grounds of opposition] 1. Opposition may be based only on the claims and allegations indicated in the claim. Other claims and allegations can only be claimed if the creditor shows that their earlier notification was not possible or that the need to indicate them resulted later.

2. If the claim is established by the final judgment of the court, the opposition may be based only on events arising after the closure of the hearing in the case in which the decision has been issued. The events shall be confirmed by written evidence.

Art. 258a. [ Response to opposition] 1. The Commissioner shall serve a copy of the opposition to the syndicate and, accordingly, to the failing and the creditor whose object is the object of the opposition, setting a time limit for responding to the opposition, which shall not be less than one week.

2. An answer to the opposition lodged after the expiry of the time limit or whose shortcomings the party has not completed within the period shall be refunded. To reply to the opposition, the provisions of Article 1 257 ust. The first sentence of 1 and 2 shall apply mutatis mutandis.

3. The Commissioner shall disregard the claims and the evidence not raised in the opposition and the response to the opposition, unless the party is prima facie aware that it has not objected to either the opposition or the opposition without his fault or that it has taken account of the late claims and the evidence will not cause a delay in identifying the case.

Article 259. [ Disknowledge of the objection] 1. Judge-commissioner, deputy to the judge-commissioner or appointed judge shall recognize the opposition in an implicit session within two months of his or her contribution. Where a Judge-Commissioner, a Deputy Judge-Commissioner or a designated Judge deems it necessary to designate a hearing, he shall inform the receiver, the bankrupt and the creditor who has lodged the opposition and the creditor whose claims the opposition is concerned. The failure of these persons, whether or not justified, shall not suspend the issuing of the order.

1a. Judge-Commissioner, Deputy Judge-Commissioner or appointed Judge may waiver evidence from the testimony of a witness or expert opinion, if the witness has given a statement or expert has drawn up an opinion in other proceedings pending before the a court, an amicable court or an administrative organ. In this case, the evidence shall be the documents, including the contents of the witness statements or the expert's opinion.

1b. In the course of the proceedings, the syndicate shall have the rights and obligations of the participant.

(2) For the purpose of the opposition, the complaint shall be granted to a bankruptcy, to a receiver and to any of the creditors.

(3) Repeal of the provisions on opposition and the transfer of the case to retrial is possible only if the evidence is necessary in its entirety or where the opposition is annulled. a proceeding which could not be removed in the case of a complaint.

Chapter 3

Approval, rectification and completion of the list of claims

Article 260. [ Approval of claims list] 1. After the decision of the Judge-commissioner on the opposition, and in the event of its appeal, after the court's order, the Judge-Commissioner shall make changes to the list of claims on the basis of those provisions, and approve the List of claims

2. If the opposition is not lodged, the Commissioner shall approve the list of claims after the expiry of the time limit for his transfer.

3. After the expiry of the time limit for the lodging of objections, the commissioner may approve partially the list of receivables in the area not covered by the objections.

Article 261. [ Change of claim list] The Commission may, on the other hand, make changes to the list of claims where it is found that there are claims on the list of claims which do not exist in whole or in part, or that are not included in the list of claims which are to be placed on the list of claims leaves from office. An order for a change in the list shall be subject to a notice from the office. That provision shall be entitled to a complaint.

Article 262. [ Supplementary claim list] 1. If the claim is submitted after the deadline set for the declaration of the claim or has been disclosed after that date the claim which does not require the declaration, the claim shall be placed in addition to the list of claims.

2. The list of claims shall be rectified in accordance with the final decisions. The change in the amount of the claim arose after the establishment of the list of claims is taken into account in the drawing up of the split plan or by the vote at the assembly of creditors.

3. (repealed)

Article 263. [ Investigation of receivables in case of refusal of recognition] The refusal to accept a claim under the provisions of this chapter shall not prevent it from being investigated in the appropriate manner. Taking into account art. 145 (1) 1 an investigation of the claim that has been refused shall be possible only after the bankruptcy or the bankruptcy proceedings have been concluded or terminated.

Article 264. [ Extract from the judge-commissioner of the receivables list] 1. Subject to art. 296, after the completion or remission of the insolvency proceedings, an extract from the receivables list approved by the Judge-commissioner, including the denomination of the claim and the amount received by the creditor, shall be the enforcement title against the fallen.

(2) It may be required to establish that the claim covered by the list of claims does not exist or exists to a lesser extent if it has not recognised the claim made in the insolvency proceedings and has not yet reached a final decision. judicial.

3. After the declaration of the declaration of enforceability from the list of claims, the claim that the claim covered by the claim list does not exist or that there exists to a lesser extent, the indemnity of the claim may be raised by a disclaimer of the enforceable title feasibility.

4. The provision of the paragraph. 1 shall not apply to creditors in respect of which the fall was not a personal debtor.

Article 265. [ Mention in the statement indicating the extent of the liability of the fallen] 1. If the court waiving part of the liabilities of the bankrupt, which were not satisfied in the bankruptcy proceedings, in an exit from the list of receivables referred to in art. 264 ust. 1, reference shall be made to the extent of the liability of the fallen.

2. If the court remitted all of the liabilities of the bankrupt, which were not satisfied in the bankruptcy proceedings, the provision of art. 264 does not apply.

Article 266. [ Reimbursement of documents submitted for the purpose of proving the claim] The creditor may request the return of the documents submitted for the purpose of proving the claim. On the order of the judge-commissioner, the Registrar shall issue the documents with an indication of the sum of the claim.

TITLE VA

Arrangement in bankruptcy

Art. 266a. [ The admissibility of the conclusion of the agreement in the insolvency proceedings] 1. In bankruptcy proceedings, the conclusion of a system shall be admissible.

2. systemic propositions in bankruptcy proceedings may be declared bankrupt, creditor and syndicate.

Art. 266b. [ Cessation of liquidation of bankruptcy] 1. The entities entitled to submit arrangement proposals may, together with the proposals, submit an application for a total or partial suspension of the liquidation of the mass of bankruptcy until the agreement is approved.

2. The cessation of the liquidation of the mass of bankruptcy shall be inadmissible if the arrangement proposals do not provide for the payment of claims not covered by the arrangement without delay after the agreement has been approved and the final proceedings on that basis have been completed.

(3) It is not permissible to withhold decommissioning in the subject-matter of the mortgage-loaded subject, the pledge, the registered pledge, the treasury or the maritime mortgage, if the creditor, whose claim is thus secured, will object to it. If the creditor's opposition has received a decision on the suspension of the winding up by the Judge-commissioner, the Commissioner shall abrogate the decision in this respect.

4. The Judge-Commissioner may withhold the liquidation of the mass of bankruptcy if the conditions for convening the assembly of creditors are fulfilled in order to vote on the arrangement referred to in art. 266c (1) 1.

5. The Commissioner-Commissioner withholds the liquidation of the mass of bankruptcy, if the conditions for convening the convocation of creditors are met in order to vote on the arrangement referred to in art. 266c (1) 2.

6. The Commissioner withholds the liquidation of the mass of bankruptcy only to the extent that it is necessary for the implementation of the agreement.

Art. 266c. [ The convening of a meeting of creditors to vote on the arrangement] 1. The board-the commissioner may convene a meeting of creditors to vote on the arrangement, if it is prima facie, that the agreement will be accepted by the creditors and executed.

2. The Judge-commissioner shall convene a meeting of creditors if the application is supported by the creditor or creditors holding a total of at least 50% of the sum of the claims entitled to the creditors entitled to vote on the arrangement.

3. The creditors ' assembly shall be convened after the approval of the list of claims. If the Commission has approved partially the list of claims in respect of uncovered objections, the meeting of creditors shall be convened if the sum of the claims covered by the objections does not exceed 15% of the sum of the claims covered by the arrangement.

Art. 266d. [ A determination to terminate the procedure] After the final approval of the agreement, the court shall issue a decision on the termination of the proceedings. The provisions of Article 4 362-367 apply mutatis mutandis.

Art. 266e. [ Determining the remuneration of the final syndicate] In the event of termination of the proceedings after the final approval of the arrangement, the final syndication may be established on the basis of the provisions of the Article. 55 and Art. 58-61 of the Act of 15 May 2015. -Restructuring law, if it is beneficial to the receiver and is justified by its involvement in the effective conclusion of the agreement.

Art. 266f. [ Adequate application of the provisions of the restructuring law] In the case of unregulated in this Title to the Agreement and its effects, the provisions of the Restructuring Law shall apply mutatis mutandis, with the actions reserved for the judicial or administrator's supervisor to perform the syndication.

TITLE VI

(repealed)

SECTION I

(repealed)

Article 267. (repealed)

Article 268. (repealed)

Article 269. (repealed)

Article 270. (repealed)

Article 271. (repealed)

Article 272. (repealed)

Article 273. (repealed)

Article 274. (repealed)

Article 275. (repealed)

Article 276. (repealed)

Article 277. (repealed)

Article 278. (repealed)

Article 279. (repealed)

Article 280. (repealed)

SECTION II

(repealed)

Article 281. (repealed)

Article 282. (repealed)

Article 283. (repealed)

Article 284. (repealed)

Article 285. (repealed)

Article 286. (repealed)

Article 287. (repealed)

Article 288. (repealed)

Article 289. (repealed)

SECTION III

(repealed)

Article 290. (repealed)

Article 291. (repealed)

Article 292. (repealed)

Article 293. (repealed)

Article 294. (repealed)

Article 295. (repealed)

Article 296. (repealed)

Article 297. (repealed)

SECTION IV

(repealed)

Article 298. (repealed)

Article 299. (repealed)

Article 300. (repealed)

Article 301. (repealed)

CHAPTER V

(repealed)

Article 302. (repealed)

Article 303. (repealed)

Article 304. (repealed)

Article 305. (repealed)

TITLE VII

Liquidation of the mass of bankruptcy

SECTION I

General provisions

Article 306. [ Inventory, estimation of the mass of bankruptcy and the drawing up of the liquidation plan] After the declaration of bankruptcy, the receiver shall immediately accede to the inventory and estimate of the bankruptcy mass and the drawing up of the liquidation plan. The administrator shall submit to the Judge-to the commissioner the inventory together with the liquidation plan within thirty days of the date of the bankruptcy. The winding-up plan shall determine the proposed ways of selling the assets of the fallen assets, in particular the sale of the company, the time limit for the sale, the estimate of expenditure and the economic justification for the continued business.

Article 307. [ Drawing up the financial statements for the day before the announcement of bankruptcy] 1. On the basis of the inventory and other documents of the bankrupt and the estimates of the receiver, the financial statements shall be drawn up by the date preceding the declaration of bankruptcy and shall be submitted without delay to the Judge-commissioner.

2. If for any reason the syndicate cannot prepare the inventory, estimate, liquidation plan or financial statement within the time limit referred to in art. 306 shall, within one month of the date of notification of the bankruptcy, submit to the Judge-Commissioner, a written general report on the state of bankruptcy and of the possibility of satisfaction of creditors. The submission of the report does not release the syndicate from the obligation to draw up the documents referred to in paragraph 1. 1, as soon as possible.

Article 308. [ Liquidation of the mass of bankruptcy] 1. After the establishment of the inventory and the financial statements, or after the submission of a written report, the general syndicate shall carry out the liquidation of the mass of bankruptcy.

2. Syndicate shall be required to take action to enable termination of liquidation within six months from the date of the bankruptcy. The judge-the commissioner and the board of creditors shall recognize the request for consent to the specified liquidation method not later than within two weeks from the date of submission of the request by the receiver.

Article 309. [ Closure held] Judge-Commissioner may suspend the liquidation of the mass of bankruptcy until the decision to declare the bankruptcy has been legitimised.

Article 310. [ Sales of movable property to meet the costs of proceedings] 1. Before the commencement of the liquidation of the mass of bankruptcy, the receiver may sell from the free hand without the permission of the trustee of the movable property, if this is needed to meet the costs of the proceedings. In addition, the receiver may sell movable assets that are likely to be broken down quickly, or because of a delay in sales, which would lose significantly on value or whose storage entails costs that are too high in relation to the value of the property.

2. If a judge-commissioner withholds the liquidation of the mass of bankruptcy, the rule of paragraph shall be held. 1 shall apply to the extent specified by the Judge-commissioner.

Article 311. [ Way of winding down] 1. The liquidation of the mass of bankruptcy shall be carried out by the sale from the free hand or by tender or auction of the company of the bankrupt in whole or its organised parts, real estate and movables, receivables and other property rights by the mass of bankruptcy, or by the collection of receivables from the debtors of the bankrupt and the execution of other assets of his property.

1a. The intention to sell the assets used to conduct business in the field of defence and security shall be notified to the Minister of National Defence which, within a week of the notification, may present judge-to the commissioner.

1b. Within three days of the date of the sale of the assets, the collection of the claim or the exercise of property rights, the receiver shall submit to the Judge-to the Commissioner the inventory of the liquidated components of the bankruptcy. The inventory shall be submitted in electronic form and shall be entered in the Register.

1c. The Minister of Justice will determine, by way of regulation, in detail the model of the census referred to in paragraph 1. 1b, having regard to the scope of the information, the placement of which is necessary for the assessment of the composition of the bankruptcy mass, in particular the determination of the liquidated asset, the date of liquidation, the price, and taking into account readability and completeness count.

2. In the cases indicated in the Act, the liquidation of movable property burdened with registered pledge and receivables and rights encumbered by the registered pledge or financial pledge may occur also by taking them through the creditor of the a pledge of a registered pledge or a financial pledge if the pledge agreement provides for settlement of the pledge by taking over the pledge subject.

3. The provisions on liquidation by sale of movable property and the taking over of movable property laden with registered pledge shall apply mutatis mutandis to the sale and take-over by the creditor of the animals, if this is not contrary to the provisions concerning protection of animals.

Article 312. [ Further conduct of the bankrupt company] 1. After the declaration of bankruptcy, a bankrupt company may be carried out if it is possible to conclude an arrangement with creditors or it is possible to sell the company of the fallen in full or its organised parts.

2. If the receiver is a bankrupt company, it shall take all measures to ensure that the company is maintained at least in a non-deteriorated state.

(3) Syndication cannot continue to be the subject of a bankrupt undertaking if the obligation to repay the public aid is liable to a bankrupt pregnancy. The creditors ' council may authorise the recovery of unlawfully granted public aid and the continued operation of the bankrupt undertaking if it is prima facie evidence that, despite the recovery of the unlawfully granted public aid, the rest of the company the creditors will be satisfied to a greater extent due to the sale of the firm in a larger amount or as a result of the conclusion and implementation of the agreement.

Article 313. [ Sales in bankruptcy proceedings] 1. The sale made in the bankruptcy proceedings has the effects of the execution sale. The purchaser of the components of the bankruptcy shall not be liable for the tax liability of the bankrupt, also arising after the bankruptcy.

2. The sale of real estate shall result in the termination of the rights and of the rights and personal claims disclosed by the entry in the register of perpetual or undisclosed in this manner, but notified to the Judge-Commissioner within the period specified in Art. 51 (1) 1 point 5. In place of the law which has expired, the entitled acquires the right to satisfy the value of the expired right from the price obtained from the sale of the loaded property. This effect shall arise as soon as the sale contract is concluded. The basis for the deletion of the rights which have expired as a result of the sale is the final plan for the distribution of the sum obtained from the sale of the property charged. The basis for the deletion of the mortgage is the real estate sales contract.

3. They shall remain in force without deducting their value from the purchase price of the service of the necessary road, the service of transmission and the service laid down in connection with the crossing of the border at the erection of the building or any other device. The use and the right of life shall remain in force if they have priority over all mortgages or if the property is not mortgagered, or if the value of the use and the rights of the service is fully covered by the price. acquisitions. However, in the latter case, the value of these rights will be included in the purchase price.

4. At the request of the owner of the real-estate property, reported at the latest on the charges to the plan of distribution of the sum obtained from the sale of the loaded property, the judge-the commissioner may decide that the land service, which does not find the full coverage of the the purchase price is maintained in force if it is necessary for the real-estate property and does not substantially reduce the value of the property to be charged. The decision of the Judge-Commissioner shall be entitled to a complaint. If the request for exemption has been made in the allegations, it shall be subject to recognition together with the allegations.

5. The provisions of the paragraph. 2-4 shall apply mutatis mutandis to the sale of the right of use of the perpetual, cooperative ownership of the right to the premises and to the maritime vessel entered in the register of the ship.

6. For the sale of fractional part of the property the relevant provisions of the art are applicable. 1004, art. 1005, art. 1007, art. 1009, art. 1012 and art. 1013 of the Code of Civil Procedure.

Article 314. [ Value of assets of the disposal of a company] 1. In the event of a disposal of an enterprise, the composition of which includes items laden with limited rights in rem, the value of the constituents of the property laden with those rights shall be disclosed in the contract of sale, and the resulting price is subject to the division of Article 2 336 and 340.

2. Paragraph Recipe 1 shall apply mutatis mutandis in the event of disposal of an organised part of the undertaking.

Article 315. [ Exclusion of movable property from the mass of bankruptcy] 1. If the mass of bankruptcy enters into moving things, which cannot be reacted with the provisions of the Act, the commissioner may decide to exclude them from the mass of bankruptcy or to permit their destruction. The decision of the Judge-Commissioner shall be entitled to a complaint.

2. If a property or a fractional part of the property is included in the bankruptcy mass, which cannot be waive by the provisions of the Act and the continuation of the property in the mass of bankruptcy will be detriment to the creditors due to weight load -the Commissioner may authorise the syndicate to conclude a transfer agreement between the municipality or the State Treasury.

SECTION II

Sale of a company or its organised part and property, rights of use of perpetual, cooperative ownership of the right to premises and a maritime vessel entered in the register of the ship

Article 316. [ Company Sales] 1. The bankrupt company should be sold as a whole, unless it is not possible.

2. The sale of the bankrupt company may, after the consent of the judge-commissioner, be preceded by a contract of lease for the time determined with the right of pre-emption, if they speak for this economic considerations.

3. (repealed)

Article 317. [ Transition of rights to the buyer of the company] 1. The purchaser of the bankrupt company shall pass any concessions, permits, licences and concessions which have been granted to the bankrupt, unless separate laws stipulate otherwise.

2. The buyer may use the sign of the bankrupt company in which his name is located, only with the consent of the fallen. The purchaser of a bankrupt undertaking acquires it in a non-burdensome state and is not responsible for the liabilities of the bankrupt. Any burden on the components of the company shall be terminated, except in the case of the charges listed in Article 4. 313 ust. 3 and 4.

3. The buyer of the bankrupt company shall be waiving from the power of the law to the place of the fallen or the receiver to the civil and administrative proceedings concerning the enterprise or its components. Article Article 196 § 2 of the Code of Civil Procedure does not apply.

Article 318. [ Sales of organised part of the company] 1. If the sale of a bankrupt company as a whole is not possible for economic reasons or other reasons, it is possible to sell an organised part of the company.

2. Paragraph Recipe 1 shall apply mutatis mutandis to the set of goods or rights encumbered by a registered pledge which is part of the undertaking. The sum obtained from the sale of such a harvest shall be subject to division pursuant to the provisions of Article 4. 336 and 340.

Article 319. [ Description and estimation of the company] 1. If the sale of a company which is fallen in its entirety, when drawing up the inventory and estimating the mass of bankruptcy, is planned, or separately, if the possibility of such a sale has been disclosed at a later stage, the expert chosen by the receiver establishing a description and estimation of the bankrupt undertaking.

2. The description of the company should specify in particular the subject of the company's activities, the properties of its composition, their area and the designation of the perpetual book or collection of documents, other fixed assets, established rights, as well as load.

3. In the estimation, the value of the company in its entirety and of its organised parts should be reported separately if they can be sold for sale.

4. If the components of the enterprise are encumbered by mortgages, pledge, registered pledge, treasury, mortgage, or other rights and effects of the disclosure of personal rights and claims, in the estimation shall be separately stated which of these rights remain in effect after the sale, as well as their value and the value of the components charged, and the ratio of the value of the individual components charged to the value of the undertaking.

(5) The pleas in law and assessment shall be filed within a week from the date on which they are notified to the Judge-Commission. The allegations are recognised by the Commissioner. In case of doubt as to the reliability or correctness of the description and the estimate, the judge-the commissioner shall indicate the expert to draw up a new description and estimate.

6. Paragraph Recipe 4 shall apply mutatis mutandis in the case of items, receivables and other rights transferred to the creditor in order to secure the claims, if they are to be sold within the undertaking.

Article 320. [ Tender or auction] 1. The sale of property regulated by the provisions of this chapter may take place by means of a tender or auction, to which the provisions of the Civil Code shall apply accordingly, with the following:

1) the terms of the tender or auction shall be approved by the judge-commissioner;

2. the invitation to tender or auction shall be notified by the notice of at least two weeks, and if the invitation to tender or the auction concerns a company of a public company, at least six weeks before the date of the meeting designated for their purpose carry out;

3. a tender or an auction shall be held in open court;

(4) a contract or auction shall be conducted by a syndicate under the supervision of a Judge-Commission;

5) the selection of the tenderer shall be made by the receiver; the choice shall be subject to the approval by the Judge-Commission;

6) the decision approving the choice of the successful tenderer-the commissioner may issue in an implicit meeting;

7) a judge-the commissioner may postpone the approval of the selection of the tenderer by a week; in this case, the decision to approve the selection of the bidder shall be announced.

2. At the order of the judge-the commissioner of the approval of the selection of the tenderer shall be entitled to a complaint.

3. When selling the property, the right of use of the perpetual, cooperative property right to the premises and the seagoing vessel entered in the ship register, the provisions of art. 319 shall apply mutatis mutandis.

Article 321. [ Conclusion of the contract of sale of the company] 1. Syndicate shall conclude a sales contract within the time limit set by the judge-commissioner, not more than four months from the date of acceptance of the choice of the tenderer by the judge-commissioner.

2. If no fault of the tenderer reaches the conclusion of the contract, the Commissioner shall issue an order for the announcement of a new tender or auction, in which the tenderer may not participate, who has not entered into an agreement.

Article 322. (repealed)

Article 323. (repealed)

Article 324. [ Priority in the acquisition of the bankrupt company] 1. If the Board of creditors has granted the authorisation referred to in Article 206 par. 1 point 3, a company with more than half of employees of a bankrupt trading company involving the State Treasury takes precedence over the acquisition of a bankrupt company or its organised part of a business which is fit for business.

2. The Syndyk shall, first of all, make an offer to sell to the employee company referred to in paragraph. 1.

SECTION III

Sale of movable property and acquisition of movable property pledged by a pledge of movable property

Article 325. [ Sales of movable property] Where the provisions of this chapter do not otherwise provide for the sale of movable property, the provisions of Article 1 320 and Art. 321 shall apply mutatis mutandis.

Article 326. (repealed)

Article 327. [ Satisfaction of the pledge from the subject of the pledge] 1. The pledge of a registered pledge may be satisfied with the object of the pledge by its acquisition or disposal in accordance with the procedure laid down in art. 24 of the Act of 6 December 1996. about the registered pledge and the register of pledges (Dz. U. 2009 r. Nr 67, pos. 569, No. 69, pos. 595 i Nr 215, poz. 1663), if the pledge agreement provides such a way to satisfy the pledgeder.

2. If the registered pledge is held by the pledger or third parties, the pledgee shall inform the administrator about the subject matter of the syndication. The Commissioner may designate a pledged term to satisfy himself of the subject of the pledge. If the pledger has not exercised this right within the prescribed period, the person in whom the registered pledge is placed shall issue the subject of the pledge to the receiver. After the transfer of the pledge of the pledge, the receiver shall sell it; the sum obtained from the sale shall be subdivided, taking into account art. 336 and 340.

3. In the cases referred to in paragraph. 2, the order of the judge-commissioner to issue the subject of the pledge subject shall be enforceable without giving him a declaration of enforceability.

Article 328. [ Term to take over the object of the pledge on the property] 1. If the subject of a registered pledge, from which the creditor can satisfy himself, is in the possession of the receiver, and the creditor shall have the right to take possession of the object on the property, the judge-the commissioner shall designate the creditor a term to do so rights, not less than one month; after the expiry of the term, the subject of the pledge will be sold under the provisions of the Act.

2. If the benefit of the registered pledge is in the control of the receiver, and the contract for the establishment of the pledge provides for the payment of the pledger in accordance with the procedure laid down in Art. 24 of the law referred to in art. 327 (1) 1, the receiver makes a sale of things according to the provisions of this Act.

Article 329. [ Deduction of the pledgler with the receiver] In the cases referred to in art. 327 and 328, the pledger is obliged to settle with the syndicate pursuant to the provisions of the Act of 6 December 1996. about a registered pledge and a register of pledges.

Article 330. [ Sale of the subject of the pledge together with the company] 1. If the subject of the registered pledge is a component of the bankrupt company and its sale together with the enterprise may be more advantageous than the separate sale of the subject of the pledge, the provisions of art. 327 and Art. 328 does not apply.

2. In the case referred to in paragraph. 1, the subject of the pledger shall be sold together with the undertaking. The value of the pledge is extracted from the sale price of the company and is used to satisfy the pledger according to art. 336 and 340.

Art. 330a. [ Takeover by the creditor on the property of movable property put up for sale] 1. If the mass of bankruptcy consists of movable property which cannot be waives in accordance with the provisions of the Act, the creditor may take ownership of movable property put up for sale or some of them at a price not lower than half of the price of the estimate.

2. The priority of taking ownership of movable property shall be entitled to a creditor whose claim is secured by a pledge, a registered pledge, a treasury pledge on that movable property, and, in the following order, to the creditor which he has offered. the highest price.

3. The statement of acquisition will be taken into account only if the creditor at the same time with the application will submit the entire price. The property of the movable property shall be transferred to the creditor once it has been notified by the receiver of the transfer of the goods to the creditor.

4. If the funds of the mass of bankruptcy are sufficient to satisfy all the creditors with a higher and equivalent category of satisfaction and obligations referred to in art. 230, the buyer can count his claim on the purchase price.

SECTION IV

Liquidation of receivables and property rights

Article 331. [ Dispenation or recovery of receivables] 1. Liquidation of the receivables shall be effected by divestment or removal.

2. The choice of liquidation should be preceded by an assessment which enables the creditors to satisfy the creditors as much as possible, taking into account the costs and the risk of failure to collect the receivables and the need to meet the obligations, referred to in art. 230, relating to the extension of the insolvency proceedings.

Article 332. [ Disposal or disposal of property rights] The liquidation of the property rights of the bankrupt shall take place either by their execution or by disposal.

Article 333. [ Liquidation of receivables and property rights of the bankrupt registered pledged] 1. The provisions of Articles shall apply mutatis mutandis to the liquidation of receivables and property rights of a bankrupt registered pledger. 327-330.

2. The provisions of Articles shall apply mutatis mutandis to the liquidation of the claims and the property rights of a bankrupt financial pledge. 327-330 and the provisions of the Act of 2 April 2004. about some financial security.

Article 334. [ Disposal of receivables or property rights of the bankrupt] 1. The sale of receivables or property rights of the fallen provisions of Art. 315, art. 320 and Art. 321 shall apply mutatis mutandis.

2. The Board of creditors may consent to a different form of the buyer's search, while specifying the terms of sale.

3. For sale by the syndicate of securities in the manner specified in Art. 3 para. 1 of the Act of 29 July 2005. the public offering and the conditions for introducing financial instruments to an organised trading system and on public companies shall not apply. 7 ust. 1 of this Law and Article 19 (1) 1 point 2 of the Law of 29 July 2005. marketing of financial instruments.

4. If the subject of sale are financial instruments admitted to trading on a regulated market within the meaning of the Act of 29 July 2005. on the trading of financial instruments, the judge-the commissioner may allow their sale by the investment firm. In such a case, the commissioner may appoint a stock exchange or recommend the selection of a stock exchange to the syndicate and set a minimum selling price.

TITLE VIII

Distribution of the mass funds of bankruptcy and sums obtained from the divestiture of goods and rights in kind

SECTION I

General provisions

Article 335. [ Funds of the mass of bankruptcy] The funds of the bankruptcy mass include the sums obtained from the liquidation of the bankruptcy mass and the income derived from the running or leasing of the bankrupt company, and the interest on those sums deposited in the bank, unless the provisions of the Act stipulate otherwise.

Article 336. [ Liquidation Totals] 1. Sumy obtained from the liquidation of things, receivables and rights encumbered by mortgages, pledge, registered pledge, treasury or maritime mortgage, as well as rights and personal rights and claims disclosed by the entry in the perpetual book or undisclosed in such a way, but notified to the Judge-Commissioner within the time limit laid down in the Article 51 (1) 1 point 5, shall be devoted to the satisfaction of creditors whose claims were secured on these matters or rights, subject to the provisions of the Act. The amount remaining after the payment of these claims is entered into the bankruptcy fund.

2. The provisions on the satisfaction of the claims secured by the pledge shall be applied mutatis mutandis to the satisfaction of the claims secured by the transfer to the creditor of the property rights of things, receivables and other rights.

3. To sums constituting a loan of goods or rights under mortgages, a pledge, a registered pledge, a treasury or a maritime mortgage, as well as the rights and personal rights and claims of a provision of a paragraph. 1 shall not apply.

Article 337. [ Breakdown of bankruptcies] 1. The division of the funds shall be carried out once or several times as the mass liquidation is liquidated after the Judge-commissioner has approved the list of claims in whole or in part.

(1a) In the case of the approval of a partial list of claims, the allocation plan shall take into account the amounts covered by the unrecognised objections, securing, by the mass of bankruptcy, the appropriations for their possible disbursement after the final recognition of the objections.

2. In the event of several distribution of the funds of bankruptcy, the final division shall be effected after the total liquidation of the mass of bankruptcy.

Article 338. [ Definitive distribution of bankruptcy funds] If the insolvency proceedings are subject to claims secured by mortgages, a pledge, a registered pledge, a treasury and a maritime mortgage, the breakdown of the final fund by the mass of bankruptcy shall be effected after the breakdown of the amount obtained from the disposal of the laden object.

Article 339. [ Breakdown of the sum obtained from liquidation] To the proceedings on the distribution of the sum obtained from the liquidation of the items, claims and rights referred to in Article (336) The provisions on the procedure for the distribution of bankruptcy funds shall apply mutatis mutandis. The draft terms of division shall be notified to the fallen and those persons whose rights are subject to the winding up of the liquidation plan. The appeals may have fallen and the persons entitled to be satisfied from the sum obtained from the liquidation.

Article 340. [ Personal claims secured by a restricted right in rem] 1. Personal claims secured by mortgages, pledge, registered pledge, treasury and sea mortgages shall be placed in the distribution plan of the insolvency fund only in the sum of which they have not been satisfied by the object. security.

2. Paragraph Recipe 1 shall apply mutatis mutandis to the claims which have been satisfied by the insurance undertaking in the execution of the insurance contract concluded by the bankrupt.

Article 341. [ The claim of the creditor of the inheritance adopted after the declaration of bankruptcy] The claim of the creditor of a succession after the declaration of bankruptcy, for which the mass of bankruptcy corresponds, shall be placed in the plan for the distribution of the funds of the bankruptcy to the amount of the succession. Where two or more creditors of a succession are entered in the insolvency proceedings, which together exceed the value of the succession property, those claims shall be placed in a distribution plan at a reduced rate relatively to the extent of the of each of them.

SECTION II

Order of satisfaction of creditors

Chapter 1

General provisions

Article 342. [ Breakdown of claims into categories] 1. The receivables payable from the bankruptcies shall be divided into the following categories:

1) the first category-the time before the announcement of the bankruptcy of receivables from the employment relationship, with the exception of claims arising from the remuneration of the representative of the fallen or the remuneration of the person performing the management or supervision of the a bankrupt undertaking, claims by farmers on contracts for the supply of products from their own agricultural holding, maintenance claims and compensation for compensation for the invocation of the disease, incapacity for work, disability or death and the pension of the the conversion of rights covered by the content of life imprisonment for the life of the annuity, falling within the last three years before the announcement of the bankruptcy of the social security contributions within the meaning of the Act of 13 October 1998 o Social Security System (Dz. U. of 2015 items 121, 689 and 978) and receivables arising in restructuring proceedings from the activities of the liquidator or receivables arising from the activities of the debtor after the opening of restructuring proceedings which do not require the consent of the creditors or the consent of the debtor the legal supervisor or the consent of the creditor council, or the consent of the court supervisor, if the bankruptcy was announced as a result of a simplified application for bankruptcy as well as claims on credit, loans, bonds, guarantees or letters of credit or other funding provided by the arrangement adopted in a restructuring procedure and granted in connection with the execution of such a system, where the bankruptcy has been declared as a result of an application for a declaration of bankruptcy filed not later than three months after the final repeal of the system;

2. second category-other claims, if they are not subject to rest in other categories, in particular taxes and other public tributes and other claims on social security contributions;

3. the third category-interest on receivables recognised in higher categories in the order in which the capital is met, as well as judicial and administrative fines and charges for donations and records;

4) category of the fourth-claims of shareholders or shareholders in respect of a loan or other legal act with similar effects, in particular the supply of goods with a deferred term of payment made to the bankrupt being a capital company in the a period of five years before the declaration of bankruptcy, including interest;

5) (repealed)

2. (repealed)

3. The provisions for the payment of employment receivables shall apply mutatis mutandis to the claims of the Guarantee Fund Guarantee Fund for reimbursement of the bankruptcy of benefits paid by the Fund to employees of the fallen.

4. (repealed)

5. The provision of the paragraph. 1 point 4 shall not apply to:

1) claims on loans and other legal acts with similar effects made in the course of the restructuring proceedings, as well as in the implementation of the agreement;

2) claims on loans and other legal acts with similar effects made by shareholders or shareholders with less than 10% of the votes at the assembly of shareholders or at the general meeting of the company, unless they are members the bodies of the company or actually conduct its affairs;

(3) the claims of an accomplice or a shareholder who has become him as a result of the conversion of receivables into shares or shares made within the framework of the concluded arrangement, on loans and other legal acts of similar effects made before such Conversion

6. To loans or other legal acts of similar effect made by an entity which has directly the majority of votes at the assembly of accomplices or at the general meeting of the capital company or has directly the majority of the votes in a personal partnership, either a partner or a shareholder of a bankrupt company which has received a loan or has been a beneficiary of a legal act with similar effects, the provisions of the paragraph. 1 point 4 and paragraph. 5 shall apply mutatis mutandis.

Article 343. [ Satisfaction of First Category Receivables] 1. From the mass of bankruptcy shall be satisfied in the first order of the costs of the proceedings, and if the funds of the mass of bankruptcy allow it-also other obligations of the mass of bankruptcy referred to in art. 230 para. 2, as far as the mass of bankruptcy is affected by the relevant sums.

(1a) If the other obligations of the bankruptcy referred to in Article 4 (1) (a) 230 para. 2, they will not be met in the manner referred to in paragraph. 1, they meet them relatively to the height of each of them by means of the distribution of the funds of bankruptcy. The provisions of Article 4 347-360 shall apply mutatis mutandis.

2. The maintenance obligations incumbent on the bankrupt, due in time after the declaration of bankruptcy, shall be met by the receiver in accordance with the paragraph. 1 within the time limits for their payment, up to the date on which the final allocation plan is drawn up, each time for each eligible amount not higher than the minimum remuneration for the work. The remaining part of these receivables shall not be subject to the insuasion of the mass of bankruptcy.

Article 344. [ Rules and order of satisfaction of receivables] 1. The claims referred to in Art. 342 (s) 1, shall be satisfied only after the full payment of the costs of the proceedings, the obligations of the mass of bankruptcy and maintenance duties in accordance with the provisions of Article 4 (1) shall be satisfied. 343.

2. If the sum allocated to the division is not sufficient to satisfy in full all the receivables, the receivables of the further category shall only be satisfied after satisfying the entire receivables of the preceding category and, if the sum is allocated to the division does not suffice to satisfy all the claims of the same category in all, the claims being met relatively to the amount of each.

Chapter 2

Order of repayments of claims secured by mortgages, pledge, registered pledge, treasury and sea mortgages

Article 345. [ Order and Rules for Satisfying Claims] 1. If the special provision does not provide otherwise, claims secured by mortgages, pledge, registered pledge, treasury and sea mortgages, as well as the provisions of the law and the effects of the disclosure of rights and claims personal immovable property, perpetuation of the perpetrator, the cooperative ownership of the right to the premises or the seagoing vessel entered in the register of the ship, shall be satisfied with the sum obtained from the liquidation of the debt-laden object, reduced by the costs of liquidation of this subject and other costs of insolvency proceedings in the amount not exceeding the tenth part of the amount obtained from the liquidation, but not more than that part of the costs of the insolvency proceedings, which results from the ratio of the value of the loaded item to the value of the whole of the bankruptcy.

2. The claims and rights referred to in the paragraph. 1, shall be satisfied in order of priority. If the sum obtained from the liquidation of the debt-laden item is subject to both the mortgage-backed and expired claims under Article 4 (1) of the Regulation. 313 ust. 2. rights and personal rights and claims, the priority shall be given to the moment from which the consequences of the entry of the mortgage, the right or the claim to the perpetual book are counted.

3. equally with the claim settlement of collateral claims covered by the collateral under the separate provisions. The amount of the creditor in respect of the total amount of the creditor shall be the principal, then the interest and the other claims for the benefit, except that the costs of the proceedings shall be taken into account in the most recent order.

Article 346. [ Priority of satisfaction of claims] 1. In the case of sale of immovable property, the right of use of perpetual, cooperative ownership of the right to the premises or seagoing vessel entered in the register of the ship, before the payment of claims secured by mortgages or marine mortgages, and other rights, including the rights and personal claims which have been subject to the sale and which have been the result of the sale, shall be satisfied with the maintenance duties in respect of the scope indicated in the Article. 343 (3) 2 and by the time after the announcement of the bankruptcy of a pension for the invocation of the disease, incapacity for work, disability or death and the pension for the conversion of the rights covered by the content of the life of the life of life for the life of the pension, as well as the remuneration for the work of the pension workers who work on immovable property, a vessel or premises for the last three months prior to the sale, but only up to three times the minimum wage for the work.

2. A separate plan of division shall not be drawn up if the sum obtained from the sale is not sufficient to satisfy the claims for maintenance of the maintenance of the work referred to in paragraph 2. 1.

SECTION III

Proceedings on the distribution of insolvency funds

Chapter 1

Determination of the allocation plan

Article 347. [ Plan for the distribution of bankruptcies] 1. Syndics shall draw up and submit to the Judge-Commissioners a plan for the distribution of the insolvency fund, in which:

1) specify the sum to be subdivided;

2. exchanges of the claims and rights of persons participating in the division;

3) specify the sum of the participants in the division;

4) indicate which sums are to be paid and which, and for what reasons, they are to be left in the court deposit or left in the mass of bankruptcy to satisfy the claims covered by unrecognized objections;

5) specifies whether the split plan is partial or final.

1a. The plan of division shall be made in electronic form and shall be entered in the Register.

2. A Judge-Commissioner may submit to the amendment plan or instruct the Administrator to make the indicated changes to the plan.

Article 348. [ Separate plan for the distribution of sums obtained from the sale of goods or rights subject to reduced rights in rem.] 1. In cases in which creditors are entitled to the divested interests or rights referred to in art. 345 and 346, the syndicate shall draw up a separate plan for the distribution of the sums obtained from the goods or rights sold. That plan shall apply mutatis mutandis. 347.

2. In the plan for the distribution of the sum obtained from the sale of the real estate, the syndicate also lists the rights and rights and personal claims which have been extinguished by the sale of the property.

Article 349. [ Notification of the date of release of the distribution plan for inspection] 1. The Commissioner shall inform the bankrupt and the members of the Board of creditors and shall announce that the distribution plan may be reviewed at the Registry of the Court of Justice and within two weeks from the date of the announcement of the statement of objections against the plan of division.

2. In the event of the submission of the final division plan, the Commissioner shall carry out the activities referred to in paragraph. 1, after the decision to grant a final payment to the syndicate is entitled.

3. The Minister of Justice shall determine, by means of a regulation, the model of the plan for the distribution of the sum obtained from the sale of the laden goods, the plan of division and the final allocation plan, having regard to the extent of the information recorded in the splitting plans, the readability and the completeness of the division plans.

Article 350. [ Charges against the plan of division] 1. The allegations against the plan of division recognizes the judge-commissioner.

2. If necessary, the Commissioner shall hear the persons whose rights relate to the allegations.

3. At the order of the judge, the commissioner shall be entitled to a complaint.

Article 351. [ Breakdown Plan Approval] 1. The Commissioner shall approve the plan of division if no charges have been brought.

2. In the event of a statement of objections, the correction and approval of the split plan shall take place after the decision of the Judge-Commissioner on the pleas in law and, in the event of his or her challenge, after the decision of the court or tribunal has been lodged.

Chapter 2

Execution of the partition plan

Article 352. [ Breakdown Plan Execution Deadline] 1. The allocation plan shall be carried out as soon as it is approved. The implementation of the allocation plan shall not, however, take place before the decision on the declaration of bankruptcy may be entitled to be made.

2. In the event of the filing of the charges against the plan of division or complaint against the order on the charges, the plan shall be carried out in those parts which do not relate to the claim filed in the allegations or griesion. In such a case, the scope of implementation of the plan shall be determined by the Commission.

Article 353. [ Deliver to the hands of the creditor or transfer the amount into the bank account] 1. By executing a plan of division, the receiver shall issue to the creditor the amount due to him or transfer it to the bank account of the creditor.

2. After the execution of the plan, the syndicate shall report on the implementation of the partition plan. The report shall be submitted in electronic form and shall be entered in the Register.

3. The Minister of Justice shall determine, by means of a regulation, the model of the report referred to in paragraph 1. 2, taking into account the scope of the information to be included in the report for the assessment of the regularity of the implementation of the plan of division, in particular the amount of the amounts given to each of the creditors with an indication of how the distribution plan is to be carried out, and also taking into account the readability and completeness of the report.

Article 354. [ Entry of the fallen into the rights of the satisfied creditor] 1. In the event of satisfaction of the claim of a personal creditor of a bankrupt, secured on the property of a fallen mortgage or a sea mortgage, before the disposal of the subject of the laden, the rights of the creditor shall fall into the estate. The relevant entry shall be entered in the perpetual register or in the ship register.

2. The basis of the entry shall be an extract from the plan for the distribution of the funds of bankruptcy authenticated by the Registrar of the Judicials.

Article 355. [ Satisfaction of the claims secured by the guarantee] The sum allocated to the satisfaction of the claim for which the third party is responsible as guarantor, guarantor or debtor shall be issued to the creditor in proportion to the amount due to him on the date of preparation of the plan of division, and the guarantor, to the guarantor or to the debtor-in proportion to the amount of the payment made.

Article 356. [ Satisfaction of conditional receivables] 1. The sum allocated to the satisfaction of the claim, the amount of which depends on the promiscuous condition, shall be issued to the creditor without security, unless the obligation to secure the pregnancy on the creditor by virtue of the existing between him and the fallen ratio legal.

2. The sum allocated to the satisfaction of receivables, the payment of which depends on the condition precedent, including the claims referred to in art. 248 (1) 2, shall be issued to the creditor, if he proves that the condition has been fulfilled; otherwise the sum shall be made up of a court deposit.

3. The sum allocated to the settlement of an unrequited receivables shall consist of a court deposit.

Article 357. (repealed)

Article 358. [ Submission of a benefit to the payment of the claim to the court of justice] If the creditor does not receive his claim within one month or the sum due cannot be given to him on account of an incorrect address or a bank account is not specified, the amount due to that creditor shall be made to the deposit judicial.

Article 359. [ Judgments in cases of filing a benefit to a court of justice] 1. In cases of filing for a court the judge-commissioner shall rule. Art. 693 3 § 1 and 3 of the Code of Civil Procedure does not apply.

2. In cases concerning the issue of amounts submitted to a court the court shall adjudicate-the commissioner, and after the final termination or remission of bankruptcy proceedings-the court.

Article 360. [ Issue of sums retained in custody to the person for whom the creditor's entitlement to the payment of the amount has been passed] 1. In proceedings for the issue of the amount from the court deposit, only the legitimacy of the active applicant is subject to examination. The amount of the deposit shall be issued to the person to whom the creditor's entitlement to payment of the amount from the deposit has been transferred, if that passage is shown to the official or private document with the signature officially certified.

2. The term for receipt of a court deposit shall be three years from the date of the right of termination of the termination or redemption of the insolvency proceedings, but not less than three years from the date of destruction of the condition referred to in art. 356 par. 1 or 2, or the due date. After the expiry of the period of the right to an uncommitted deposit, they pass to the State Treasury. The provisions of Article 4 (1) of the Regulation shall apply to the abolition 693 18 -693 22 Code of Civil Procedure.

TITLE IX

Termination and remission of insolvency proceedings and their effects

Article 361. [ Grounds for the redemption of bankruptcy proceedings] 1. The Tribunal shall be terminated by insolvency proceedings, if:

(1) the assets remaining after the exclusion of the assets of the debtor under the mortgage, the lien, the registered pledge, the tax payer or the maritime mortgage, are not sufficient to satisfy the costs of the proceedings;

(2) creditors who are under the decision of the meeting of creditors, or by order of the Judge-Commissioner, have not made an advance payment of the costs of the proceedings within the prescribed period and there are no liquid funds available for these costs;

3. All creditors who have reported their claims shall request that the proceedings be remitted.

2. In the case of redemption of bankruptcy proceedings for the reason referred to in the paragraph. 1 point 1, the court shall determine whether the material collected in the case gives the basis for the termination of the entity entered into the National Court Register without carrying out the liquidation proceedings.

Article 362. [ Announcement and service of the decision to discontinue bankruptcy proceedings] The order for the remission of insolvency proceedings shall be served on the bankruptcy, the syndicate and the members of the Board of creditors. The order shall be announced. The order shall be entitled to a complaint.

Article 363. [ Deletion of entries for bankruptcy in the perpetual ledger and registers] The final decision on the waiver of insolvency proceedings is the basis for the deletion of the entries for bankruptcy in the perpetual book and in the registers.

Article 364. [ Recovering the property of wealth management by the bankrupt] 1. From the date of the remission of the bankruptcy proceedings, the bankruptcy shall be restored to the right to manage its assets and to dispose of its components.

2. The Synod shall issue its property, books, correspondence and documents immediately to the fallen stock. In case of need of a judge, the commissioner will issue an order requiring the forced removal of the property. The final decision shall have the power of enforcence.

Article 365. [ Surrender of books and documents for safing] 1. If the bankrupt does not receive the books, correspondence or documents within the time limit set by the receiver, the receiver shall give them away at the expense of the bankrupt. The syndicate may suspend the release of the property required to cover the cost of storage of the books, correspondence or documents until they have been received by the bankrupt.

2. Syndicals shall cover the cost of the storage of the books, correspondence or documents from the bankruptcy fund, if it has liquid funds to cover these costs. In the absence of liquid assets, the syndicate shall, with the agreement of the court, make a liquidation of the assets to cover the cost of their storage.

3. In the absence of any property necessary to cover the cost of storage of the books, correspondence or documents, the court shall be satisfied with the costs of storage of the fallen property. In the event of a fallen legal person or a partnership, the court may order the costs of storage from persons authorised to represent the fallen person, specifying the person or persons bearing the cost of the storage. The decision of the court of appeal shall be entitled only to the fallen person, to the person liable to bear the costs and to the conservator.

4. If the devotion to store the books, correspondence or documents is impossible, they shall be subject to the submission to the appropriate archive together with the acts of bankruptcy proceedings at the expense of the bankrupt, except for the personal and wage documentation, to which the Article shall apply. 51 in the mouth. 3 of the Act of 14 July 1983. about the national archival resource and archives (Dz. U. of 2011 r. #123, pos. 698, with late. zm.). These costs shall be collected in accordance with the provisions of the Code of Civil Procedure on the execution of court fees. The provisions of the paragraph 3 shall apply mutatis mutandis.

Article 366. [ Liquidation not received by the fallen estate] 1. The Tribunal shall manage the liquidation of the property and shall determine the manner of liquidation if the liquidation does not take up its property within the time limit set by the syndicate.

2. The Tribunal may order the liquidation of the property at the expense of the bankrupt by the transfer of property to charity or otherwise, if the liquidation of the property in a manner determined by the court proves impossible or excessively obstructed. Article Recipe 365 par. 3 shall apply mutatis mutandis.

(3) The decision on winding-up shall be entitled to a complaint.

Article 367. [ Redemption of processes for recognition as an ineffective action carried out by the bankrupt to the detriment of creditors] 1. After the cancellation of the insolvency proceedings, the receivers are terminated by the unfinished processes for recognition as an ineffective action by the bankrupt to the detriment of the creditors. Mutual claims for reimbursement of process costs expire.

2. In other civil proceedings the bankruptcies fall into the proceedings in place of the syndicate.

Article 368. [ Statement of termination of the insolvency proceedings] 1. The Tribunal shall, after the execution of the final allocation plan, state the termination of the insolvency proceedings.

2. The Tribunal shall also conclude that the proceedings are terminated even if all the creditors have been satisfied in the course of the proceedings.

3. Rules of Art. 362-367 apply mutatis mutandis.

Article 369. [ Redemption in whole or part of unfulfilled obligations of the bankrupt] 1. Within thirty days of the notice of termination of the insolvency proceedings, a natural person may submit an application for the establishment of the repayment plan of the creditors and the remission of the remaining part of the obligations which have not been met in bankruptcy proceedings.

2. The Tribunal shall dismiss the application referred to in paragraph 1. 1, if the bankruptcy has led to its insolvency or substantially increased its degree either intentionally or by gross negligence.

(3) The Tribunal shall dismiss the application referred to in paragraph 1. 1, if:

1) the material harvested in the case gives the basis for determining that the circumstances constituting the basis of deprivation of the fallen right to conduct an economic activity on its own account or within the framework of a civil company and the performance of a member's function a supervisory board, a member of a review commission, a representative or a representative of a natural person pursuing an economic activity in the field of that activity, a commercial company, a state enterprise, cooperative, foundation or association, or

(2) have failed to fulfil the obligations imposed on it in the insolvency proceedings, or

3) within a period of ten years before the date of application for the declaration of bankruptcy in relation to the bankrupt proceedings, the bankruptcy proceedings were held, in which all or part of its obligations were decommitted, unless the insolvency of the bankrupt or increased it the extent of the degree has been due to the diligence of the fallen due diligence, or

4) within a period of ten years before the date of submission of the application for the declaration of bankruptcy set for the bankrupt repayment plan of the creditors was repealed on the basis of art. 370e par. 1 or 2 or Art. 491 20 , or

5) within a period of ten years prior to the date of submission of the application for bankruptcy, the legal act of the bankrupt was legally recognised as having been made with the hives of creditors

-unless the waiver of the remaining part of the fallen liabilities is justified on grounds of fairness or humanitarian reasons.

Article 370. (repealed)

Art. 370a. [ Scope of the decision to set up the repayment plan of creditors] 1. In the order to determine the repayment plan of creditors, the court shall determine the extent to which and at what time, not longer than thirty-six months, the bankruptcy is required to repay the liabilities recognised on the list of claims and not executed in progress bankruptcy proceedings on the basis of the distribution plans and what part of the liabilities of the fallen liabilities arising before the date of the bankruptcy shall be decommitted after the execution of the repayment plan of the creditors.

2. Liabilities arising after the announcement of bankruptcy and not executed in the course of proceedings shall be taken into account in the repayment plan of the creditors in full amount, with their repayment may be spread over the instalment for a period not longer than the plan prescribed for the execution of the plan the repayment of creditors.

3. The court is not bound by the position of the bankrupt as to the content of the repayment plan of the creditors. In determining the repayment plan of the creditors, the court shall take into account the economic viability of the bankrupt, the need to keep the bankrupt and the dependants, including their housing needs, the amount of unsatisfied debts and their reality In the future.

4. The order of the court to determine the repayment plan of the creditors shall be announced. The decision of the court on the establishment of the repayment plan shall be entitled to a complaint.

5. The determination of the repayment plan of creditors does not violate the rights of the creditor against the guarantor of the bankrupt and the debtor of the fallen or the rights arising from the mortgage, pledge, registered pledge, treasury pledge or the maritime mortgage, if they were established on behalf of a third party. The establishment of the repayment plan of creditors and the remission of the liabilities of the fallen shall also be effective in relations between the fallen, and the guarantor, guarantor and debtor of the fallen.

Article 370b. [ Cassation complaint against the order of the court of second instance on the establishment of the repayment plan of creditors] 1. The order of the court of second instance on the establishment of the repayment plan of the creditors shall be entitled to a cassation complaint.

2. In the case of a cassation complaint lodged, the bankruptcy court at the request of the complainant may withhold the release of the order for the remission of the bankrupt obligations referred to in art. 370f par. 1.

(3) If, as a result of the examination of the cassation action, the order for the establishment of the repayment plan of the creditors is annulled, the bankruptcy court shall repeal the order for the remission of the bankrupt obligations referred to in art. 370f par. 1.

Art. 370c. [ Prohibition of execution of enforcement proceedings during the period of execution of the repayment plan of creditors] 1. During the period of execution of the repayment plan of creditors, it is not acceptable to initiate the enforcement proceedings concerning receivables arising prior to the declaration of bankruptcy, with the exception of receivables arising from the obligations referred to in art. 370f par. 2, and receivables which have failed to be disclosed, if the creditor has not taken part in the proceedings.

2. During the period of execution of the repayment plan of the creditors the fallen creditors cannot make legal acts which could worsen its ability to implement the repayment plan of creditors.

3. In particularly justified cases, the court at the request of the bankrupt may give consent to the making or approval of the legal action referred to in the paragraph. 2.

4. The court shall submit to the court annually by the end of April a report on the implementation of the creditors ' repayment plan for the previous calendar year, in which the revenues achieved, the amounts repaid and the assets acquired of the value have been met. exceeding the average monthly salary in the enterprise sector without payment of prizes from profit in the third quarter of the previous year, announced by the President of the Central Statistical Office. The report will be accompanied by a copy of the annual tax return.

Art. 370d. [ Amendment of creditors ' repayment plan] 1. If the fallen fails to fulfil the obligations set out in the repayment plan of the creditors, the court upon his application after hearing the creditors may change the repayment plan of the creditors. The court may extend the deadline for repayment of the obligations for a further period not exceeding eighteen months. The order of the court shall be entitled to a complaint, and to the order of the court of second instance, the cassation complaint.

2. In the event of a significant improvement in the property of the bankrupt during the period of execution of the repayment plan of the creditors resulting from other reasons than the increase in the remuneration for the work or the income obtained from the person personally performed by the fallen the economic activity of the creditor and the bankruptcy may apply for a change in the repayment plan of the creditors. The court adjusts the court after hearing the bankrupt and the creditors covered by the repayment plan. The order of the court shall be entitled to a complaint.

3. To creditors whose claims arising before the end of the insolvency proceedings have been established after the establishment of the repayment plan of the creditors established by the final decision, the settlement concluded before the court or final decision, the provision of the paragraph. 2 shall apply mutatis mutandis.

Art. 370e. [ Repeal of creditors ' repayment plan] 1. In the event of failure by the bankrupt obligations set out in the repayment plan of the creditors, the court of office or at the request of the creditor shall repeal the repayment plan of the creditors after hearing the bankrupt and creditors covered by the repayment plan, unless the failure to do so the obligations are insignificant or the remission of the remaining part of the fallen liabilities is justified on grounds of fairness or humanitarian reasons. The order of the court shall be entitled to a complaint.

2. Paragraph Recipe 1 shall apply mutatis mutandis where they have fallen:

1) has not submitted within the time of the report on the implementation of the repayment plan of the creditors in accordance with art. 370c (1) 4;

2) in the report on the implementation of the repayment plan of the creditors withinked the achieved revenues or acquired the assets referred to in art. 370c (1) 4;

3) has carried out the legal action referred to in art. 370c (1) 2, without the consent of the court or the action has not been approved by the court;

4) conceal a property or legal act of the bankrupt has been legally recognized as having been made with the hives of creditors.

3. In the event of the revocation of the repayment plan, the debt shall not be remitted.

Art. 370f. [ Determination of the execution of the repayment plan and the remission of liabilities of the bankrupt] 1. After the execution by the bankrupt obligations laid down in the repayment plan of creditors, the court shall issue an order to determine the execution of the repayment plan and the remission of the liabilities of the fallen ones formed before the day of the bankruptcy and unsatisfied as a result of the the implementation of the repayment plan of creditors.

2. Non-remission of a maintenance obligation, obligations arising out of the payment of compensation for the invocation of the disease, incapacity for work, disability or death, the obligation to pay fines of the fine decided by the court, and also for the performance of the obligation to repair the damage and redress for a known harm, the obligation to pay the tax or cash benefit ordered by the court as a criminal measure or a measure involving the perpetrator of the sample, as well as commitments to remedy the damage resulting from a criminal offence determined by the final judgment and the obligations which he had failed to inadvertently disclose, if the creditor was not involved in the proceedings.

3. The order of the court shall be entitled to a complaint.

4. After the provision of the provision referred to in paragraph. 1, it is not acceptable to initiate the enforcement proceedings concerning the receivables arising prior to the declaration of bankruptcy, with the exception of receivables, arising from the obligations referred to in paragraph. 2.

Article 371. [ Repeal of bankruptcy proceedings] (1) The insolvency proceedings shall be abrogated in the event of a final rejection, or the dismissal of the application for bankruptcy. The provisions of Article 4 362-367 apply mutatis mutandis.

2. Paragraph Recipe 1 shall apply in the event of a waiver of proceedings on a declaration of bankruptcy on the basis of Article 1 (1) of 54 para. 4.

3. The order of the court shall be entitled to a complaint.

Article 372. [ The effectiveness of changes in legal relations after redemption or end of bankruptcy proceedings] 1. Changes in legal relations made on the basis of the provisions of the Act shall apply to the bankrupt and the other party also after the remission or termination of bankruptcy proceedings, unless the provisions of a separate law stipulate otherwise.

2. Paragraph Recipe 1 shall apply mutatis mutandis in the event of the repeal of the insolvency proceedings, except that:

1. the lapse may withdraw the termination of contracts made by the syndicate if the period of notice has not expired;

(2) they have fallen within thirty days of the date of the notification or service of the order to which the proceedings have been lifted, to derogate from the contracts concluded by the receiver if the contract concluded by him was not made or was partially executed.

TITLE X

Proceedings in cases of a prohibition of economic activity

Article 373. [ Deprivation of the right to conduct an economic activity] 1. The Tribunal may decide to deprive for a period of one to ten years the right to conduct an economic activity on its own account or within a civil company and to perform the function of a member of the supervisory board, member of the review commission, representation or a representative of a natural person pursuing an economic activity in the field of that activity, a commercial company, a state-owned enterprise, a cooperative, a foundation or an association of a person who, for his or her fault:

1) being obliged to do so by law, has not filed in the statutory period of application for bankruptcy or

(1a) in fact, by managing the debtor's undertaking, it has made a significant contribution to the failure to apply for a declaration of bankruptcy within the statutory time limit, or

2) after the declaration of bankruptcy did not issue or indicate the property, the accounts, correspondence or other documents of the bankrupt, including the data in electronic form, to which the issue or indication was required by the Act, or

(3) as a fall after the declaration of bankruptcy, she hid, destroyed or incriminated the assets of the bankruptcy, or

4) as a bankrupt in the course of insolvency proceedings, did not perform any other obligations under the law or court decision or judge-commissioner, or otherwise obstructed the proceedings.

1a. Despite the existence of the condition referred to in paragraph 1. 1 point 1, the court may dismiss the application for a decision prohibiting an economic activity if it has been requested to open an accelerated arrangement procedure, arrangement procedure or a sanction procedure, and the size of the hives the creditors are insignificant.

2. When ruling the prohibition referred to in paragraph 1. 1, the court shall take into account the degree of fault and the effects of the action taken, in particular the reduction in the economic value of the bankrupt company and the extent of the victim's nettle

3. The Tribunal may decide to deprive for a period of one to ten years the right to conduct an economic activity on its own account or within a civil partnership and to perform the function of a member of the supervisory board, member of the review commission, representative or a representative of a natural person pursuing an economic activity in the field of that activity, a commercial company, a state enterprise, a cooperative, a foundation or an association of a person, to whom:

1) the bankruptcy has already been declared at least once, with the remission of its debts after the end of the bankruptcy proceedings;

2) the bankruptcy was declared no more than five years before the reprovenance of bankruptcy.

Article 374. [ Prohibition of doing business by a debtor who is a natural person] 1. The Tribunal may order a ban on the conduct of economic activity referred to in art. 373, in respect of a debtor who is a natural person, also if the insolvency of the debtor is the consequence of his deliberate action or gross negligence.

2. To persons entitled to represent an entrepreneur who is a legal person or a commercial company without legal personality and persons actually managing a debtor's undertaking, if the insolvency of the entrepreneur or the deterioration of his the financial situation is the consequence of deliberate action or gross negligence of these persons, the provision of the paragraph. 1 shall apply.

Article 375. [ Substantive property of the court in cases of ruling prohibition of economic activity] 1. In the cases referred to in art. 373 and 374, adjudiced by the bankruptcy court.

2. If the insolvency proceedings have not been initiated or the application for the declaration of bankruptcy has been dismissed or the insolvency proceedings have been dismissed, the court shall have jurisdiction to hear the case for bankruptcy proceedings.

Article 376. [ Procedure for the prohibition of the prohibition] 1. Proceedings in the cases referred to in art. 373 and art. 374, it shall be initiated only at the request of the creditor, the interim legal supervisor, the compulsory administrator, the receiver, the prosecutor, as well as the President of the Office of Competition and Consumer Protection and the Financial Supervision Commission. The expiry in the course of the proceedings of the temporary supervisor, the compulsory administrator or the receiver and the satisfaction of the claim of the applicant creditor shall not affect the subsequent course of the proceedings initiated at the request of the applicant. In those cases, the provisions on non-procedural proceedings shall apply.

2. The Tribunal shall issue an order after the hearing.

3. From the order of the court of second instance shall be entitled to the cassation complaint.

4. A copy of the final decision of the court shall be sent to the National Court Register.

5. The determination of the decision to prohibit the business of economic activity is announced.

Article 377. [ Limitation of judgment] The prohibition referred to in Article shall not be ruled out. 373, if proceedings in the case have not been initiated within one year from the date of the cancellation or termination of the insolvency proceedings or the dismissal of an application for a declaration of bankruptcy on the basis of art. 13, and when the application for a declaration of bankruptcy was not filed, within three years from the date of cessation of the state of insolvency or the expiry of the obligation to submit an application for bankruptcy by the person concerned.

PART TWI

PROVISIONS IN THE FIELD OF INTERNATIONAL INSOLVENCY PROCEEDINGS

TITLE I

General provisions

Article 378. [ The primacy of international agreements] 1. The provisions of this Part shall not apply if the international agreement, of which the Republic of Poland is a party, or the law 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 section are referred to as:

1) foreign bankruptcy proceedings-this shall be understood by all judicial or administrative proceedings or other proceedings subject to supervision by a foreign court, the object of which is the joint investigation of claims against the debtor insolvent or threatened insolvency, carried out abroad, in which the property and the debtor's cases are subject to inspection or to the management board of a foreign court or foreign manager for the purpose of restructuring or liquidation;

2. the main foreign insolvency proceedings-this shall be understood by the procedure referred to in point 1 if it is carried out in the State where the principal centre of the debtor's main activity is situated;

(3) a byty of foreign insolvency proceedings-this must be understood by the procedure referred to in point 1, if it is not of a principal nature and if it is carried out in the State of the place of business of the debtor or of its place of business the residence or establishment or in the country where the debtor's assets are situated;

4) the foreign manager-this shall be understood by the person or entity designated in the foreign bankruptcy proceedings to manage the debtor's assets, reorganize or liquidate his property, as well as for the supervision of the wealth management the debtor or his reorganisation;

5) a foreign court-it must be understood by a court or other public authority empowered to conduct or supervise a foreign bankruptcy proceedings;

(6) the place of business, shall be understood by the place where the debtor undertakes activities of an economic nature, if they are not of a single or short duration;

7) a recognized foreign bankruptcy procedure-this must be understood by the foreign insolvency proceedings, for which the decision to recognise the decision to initiate the procedure was issued by the Polish court of law.

Article 380. [ Rights of a creditor residing abroad] 1. The creditor, whose habitual residence, place of residence or head office is located abroad, benefits in bankruptcy proceedings with rights which are entitled to the creditor, whose habitual residence, place of residence or head office are located in the Republic of Poland.

2. The creditor, who does not have the place of residence, habitual residence or establishment in the Republic of Poland or in another Member State of the European Union, if he has not established in the Republic of Poland a proxy for the conduct of the case, is the obligation to indicate the proxy for service in the Republic of Poland.

3. In the event of failure to indicate a proxy for service, the court of law intended for that creditor shall be left in the file with the effect of service. The creditor shall be instructed to do so on the first service. The creditor should also be taught about who can be established as a proxy.

4. Foreign public-law claims, in particular tax and social insurance claims, may be reported in the bankruptcy proceedings, as long as their investigation in the Republic of Poland is admissible. In that case, those claims shall be satisfied in the second category, except in the case of non-civil-law property penalties, as decided by the courts or administrative authorities abroad, which are subject to the category of services covered by the category of law. third.

Article 381. [ Appropriate application of the provisions of the Civil Procedure Code] In matters not governed by this Part, the provisions of Part I and the Code of Civil Procedure relating to international civil proceedings shall apply mutatis mutandis.

TITLE II

National jurisdiction

Article 382. [ Exclusive jurisdiction of the Polish courts] 1. The exclusive jurisdiction of the Polish courts belong to bankruptcy cases, if the Republic of Poland holds the main centre of the debtor's primary activity.

2. Polish Courts shall also have jurisdiction if the debtor is established in the Republic of Poland, or has his place of residence or his seat or property.

3. If the jurisdiction of the Polish court is exclusive, the bankruptcy proceedings shall be the nature of the main proceedings of the bankruptcy. In other cases, the insolvency proceedings are of a by-side nature of the insolvency proceedings.

Article 383. [ Exclusion of the use of agreements with jurisdiction] In bankruptcy matters, the provisions relating to jurisdiction agreements shall not apply.

Article 384. [ Establishment by a foreign court of foreign manager] The establishment by a foreign court of a foreign manager to take action in the Republic of Poland does not exclude the jurisdiction of the national Polish courts.

TITLE III

Recognition of decisions to open foreign insolvency proceedings

Article 385. (repealed)

Article 386. [ Application for the initiation of proceedings concerning the recognition of a foreign insolvency proceedings] 1. The procedure for the recognition of a decision to initiate a foreign insolvency proceedings shall be initiated upon the request of a foreign manager or debtor, who has been left to the Management Board of his own property.

2. The application for recognition shall be accompanied by:

1) a copy of the decision or decision to initiate the foreign insolvency proceedings and the establishment of the liquidator or

2) a certificate of foreign court confirming the conduct of proceedings and the designation of a foreign manager;

3) the list of creditors whose place of residence, the seat or the main centre of the primary activity are located in the territory of the Republic of Poland, the creditors whose claims result from the economic activity of the debtor kept in The Republic of Poland, as well as the creditors who are entitled to the debtor's debts secured by the debtor's property situated in the territory of the Republic of Poland, pledge, tax pledge, registered pledge, sea mortgage-related or a transfer to a security of goods, claims, or other property rights.

3. In the absence of the documents mentioned in the paragraph. 2 points 1 and 2 of the application shall be accompanied by other reliable proof in writing of the opening of foreign proceedings and the appointment of a foreign manager.

4. In addition, the application shall be accompanied by a statement by the applicant of other foreign proceedings conducted against the bankrupt, which are known to the applicant, and a statement containing information on the date of filing of the receivables, address, under where the claims should be notified, as well as any other necessary data to be reported in the notification, and the language of the application.

5. To documents or evidence in writing, mentioned in the paragraph. 2-4, it is also necessary to include their certified translation into Polish.

6. The applicant shall pay an advance on the expenditure in the course of the proceedings as to the recognition of the decision to initiate the foreign insolvency proceedings at the rate of uniformity of the average monthly remuneration in the enterprise sector without payment prizes from the profit in the third quarter of the previous year, announced by the President of the Central Statistical Office and together with the application provide proof of its payment. In the event of a non-payment of the advance, the President shall call for the payment of the advance payment within a week of the repayment of the application.

Article 387. [ Participants to the proceedings] The participants in the proceedings concerning the recognition of the decision to open a foreign insolvency proceedings shall be either a foreign manager or a debtor, who has been left to the management of his own property.

Article 388. [ Notice of participants in the proceedings of the meeting] The notices of the participants to the proceedings of the first session of the court may be made by means of a postal operator within the meaning of the Act of 23 November 2012. -Postal law by registered mail, either with acknowledgement of receipt or by the receipt of receipt.

Article 389. [ Information Obligations of the Foreign Manager] After the application for recognition of the decision to open a foreign insolvency proceedings, the applicant is obliged to inform the court immediately:

1) of the change of foreign proceedings to which the application for recognition of the decision to open a foreign bankruptcy proceedings is applied for, and the establishment or change of the liquidator;

2) about other foreign bankruptcy proceedings concerning the debtor and other legal, administrative, judicial and arbitration proceedings concerning the debtor's property, which are known to the applicant.

Article 390. [ Security] 1. On the day of the application for recognition of the decision to initiate a foreign proceedings of the bankruptcy proceedings, the court at the request of the applicant may:

1) issue the freezing order;

2) secure the evidence needed to investigate claims against the debtor.

2. The court may refuse to issue the freezing order, if that security would impede the management of the estate of the bankrupt in the main foreign bankruptcy proceedings.

Article 391. (repealed)

Article 392. [ Conditions for the recognition of the decision to open foreign insolvency proceedings] The decision to open a foreign insolvency proceedings shall be subject to recognition if:

1) refers to a case which does not belong to the exclusive jurisdiction of the Polish courts;

2) the recognition is not contrary to the basic principles of legal order in the Republic of Poland.

Article 393. [ Content of the recognition of the decision] 1. In the order of recognition of the decision of the opening of foreign insolvency proceedings shall be determined:

1. the name or business of the bankrupt and the place of residence of the bankrupt or the registered office;

2) a foreign court which has declared bankruptcy;

(3) a foreign manager by indicating his name and surname or company, and where he is resident or established;

(4) whether the proceedings are a main or a side-by-side proceeding.

2. In the order for recognition of the decision to open a foreign insolvency proceedings, creditors of the bankrupt shall be called upon to declare the claim, indicating the time limit for the reporting of the claim and the address under which the claims should be reported, as the necessary data to be reported in the notification and the language of the notification.

3. The decision to recognise the decision to open a foreign insolvency proceedings shall be proclaimed.

4. A copy of the order of recognition of the decision to initiate the foreign insolvency proceedings shall be served on the creditors indicated by the applicant in the inventory referred to in art. 386 (1) Article 2 (2) (3), and to other creditors referred to in that provision, if they are known to the court, even if they have not been indicated in the inventory submitted by the applicant. Creditors shall be informed of the consequences of the recognition of the decision to open a foreign insolvency proceedings and the possibility of submitting an application for the initiation of a secondary insolvency proceedings and the consequences of failure to apply the request within thirty days of the the date of the notice.

(5) The decision on the recognition of a decision to open a foreign insolvency proceedings shall be entitled to the complaint of the applicant and to the creditors referred to in Article 4. 386 (1) 2 point 3.

Article 393a. [ Protection of debtor's property on the territory of the Republic of Poland by the establishment of a temporary legal supervisor] 1. The court shall secure the debtor's property situated in the territory of the Republic of Poland by the establishment of a temporary legal supervisor after recognition of the decision to open a foreign bankruptcy proceedings.

2. The tasks of the foreign administrator or debtor holding the management of its own property, concerning the property located in the territory of the Republic of Poland exceeding the scope of the ordinary management require the consent of the interim judicial supervisor under Invalidity of the Court of Justice of the European Court of Justice, unless The consent of the interim judicial supervisor shall also require the export of the debtor's assets beyond the territory of the Republic of Poland.

3. The security by the establishment of a temporary legal supervisor shall fall under the law once the secondary bankruptcy proceedings have been initiated, the final dismissal or rejection of the application for the initiation of the secondary insolvency proceedings or the remission proceedings concerning the application or failure to apply for the initiation of a secondary insolvency proceedings within thirty days of the date of the notice of recognition of the decision to open a foreign insolvency proceedings.

4. On the day of recognition of the decision to initiate the foreign bankruptcy proceedings of both the main and the bystander on the request of the foreign manager may secure the evidence.

Article 394. [ Scope of recognition] 1. If the provisions of the Act do not provide otherwise, recognition of the decision to initiate a foreign insolvency proceedings shall result from the right of recognition of the decisions concerning the appointment, appeal and alteration of the foreign manager, issued in the course of the proceedings, and also decisions concerning the course of foreign insolvency proceedings, suspension and termination of the proceedings.

2. The execution against the fallen on the basis of foreign enforceable titles enforceable in the State in which they were issued in a recognized foreign bankruptcy proceedings, including on the basis of a list of receivables or other similar documents, as well as execution on the basis of the provisions of the agreement concluded in a recognised foreign bankruptcy procedure, as well as execution on the basis of extracts, write-downs and other similar documents issued on the basis of the arrangement contained in the recognized bankruptcy proceedings may be carried out after the declaration of enforceability by the court recognising the decision to open a foreign insolvency proceedings.

3. The declaration of enforceability shall be made by giving a declaration of enforceability at the request of To establish the existence of a basis for enforceability, 392 shall apply mutatis mutandis.

Article 395. [ Amendment or repeal of the decision on recognition] 1. A determination to recognise a decision to initiate a foreign insolvency proceedings may be amended or repealed at any time in the event of a subsequent discovery that there was no basis for its recognition or that the basis of these ceased to exist.

1a. The Court of First Instance repeals the order for recognition of the decision to open a foreign insolvency proceedings if, in a foreign bankruptcy procedure, the agreement was adopted, the content of which is grossly contradictory to the Polish law.

2. The proceedings for the revocation or amendment of a decision on recognition of foreign insolvency proceedings may be initiated at the request of any person whom the recognition may concern, as well as from the office.

3. Rules of Art. 393 (1) 3-5 shall apply mutatis mutandis.

Article 396. [ Definition of the scope of changes in the order of the court] 1. In the order of amendment of the decision on recognition of the decision to open a foreign bankruptcy proceedings, the court shall determine the scope of the changes, in particular the scope of the powers of the foreign manager.

2. In the event of deprivation of the foreign manager of the right to conduct civil proceedings, the proceedings initiated by him shall be subject to remission, unless the court conducting the proceedings decides that the proceedings of those proceedings may have entered another administrator a foreign or syndicate established in bankruptcy proceedings or a debtor. This provision shall apply mutatis mutandis to the adverse reactions reported by the foreign manager.

Article 397. [ Consequences of recognition of foreign insolvency proceedings] 1. From the date of recognition of the decision of initiation of foreign bankruptcy proceedings to the effects of the initiation of foreign bankruptcy proceedings for the proceedings conducted in the Republic of Poland, enforcement proceedings, administrative proceedings, the Polish law shall apply to the judiciary, taking into account, winding up or restructuring the nature of the foreign insolvency proceedings, the extent of deprivation of the debtor's right to the debtor's rights, and the scope of the claim. The Polish law also applies to the assessment of the possibility of opening proceedings after recognition of the decision to open a foreign insolvency proceedings.

2. Paragraph Recipe However, 1 shall not preclude the possibility of bringing actions against a bankruptcy where this is necessary in order to preserve the rights of third parties.

Article 398. [ Creditors ' right to request the opening of bankruptcy proceedings in Poland] Article Recipe 397 does not limit the rights of creditors to demand the opening of insolvency proceedings in the Republic of Poland and to report claims in such proceedings.

Article 399. (repealed)

Article 400. (repealed)

Article 400a. [ Court Property] Following the recognition of the decision to open a foreign insolvency proceedings, the proceedings are pending in a court of law, which recognised the decision.

Article 401. [ Drawing up of inventory, estimates and liquidation plan of the fallen assets] 1. After recognition of the decision to initiate the main foreign bankruptcy proceedings, the foreign manager or debtor, to whom the board of directors of his own property is left, shall draw up an inventory and estimate, which shall include the entering into the mass of the bankruptcy the estate of the bankrupt located in the Republic of Poland. The inventory, together with an estimate of the foreign manager or debtor to which the board of directors has been left, shall submit to the court declaring the decision to open a foreign procedure within four months of the date of entitlement to the foreign administration. provisions on recognition. The census and the estimate are proclaimed. Applications for exclusion from the mass of bankruptcy shall be recognised by the court of recognition. The time limit for the lodging of such applications shall be 30 days from the date of the notice.

2. After drawing up the inventory and estimating the foreign manager or debtor, who has been left to the Management Board, he shall submit to the court declaring the plan for liquidation of the assets located in the Republic of Poland and general information about the anticipated manner of satisfaction of creditors, including domicile, habitual residence or seat in the Republic of Poland. On this basis, the court recognizing the order will issue a permit for the liquidation of the estate of the fallen estate located in the territory of the Republic of Poland. The order shall be deemed not earlier than after the expiry of the period in which the exclusion from the mass of bankruptcy may be requested. The decision to refuse authorisation shall be subject to a complaint.

3. The permit referred to in paragraph 1. 2, does not include property which is pending the proceedings for exclusion from the mass of bankruptcy. The foreign manager shall be entitled to liquidate this property only after the judgment dismisses the claim for exclusion from the mass of bankruptcy or after the proceedings in that case have been closed, and where the action has not been brought, after the expiry of the time limit, in which the complainant's claim could have been brought.

4. To determine the composition of the mass of bankruptcy, inventory and estimates, exclusions from the mass of bankruptcy, the management of the mass of bankruptcy located in the Republic of Poland and the liquidation of the mass of bankruptcy apply the provisions of this Act. The recognition court may permit the liquidation of the mass of bankruptcy in any other way, if it does not violate the basic principles of the legal order of the Republic of Poland.

5. Upon completion of the liquidation of the property situated in the territory of the Republic of Poland, the court recognizing the order of termination of the proceedings.

6. The Court of First Instance shall also issue an order to terminate the proceedings in the event of secondary insolvency proceedings and, in the event of a decision to waive the order for recognition of the decision of the opening of a foreign decision, to be annulled. bankruptcy proceedings.

Article 402. [ Right to apply for a declaration of bankruptcy in a Polish court] After recognition of the decision to open the foreign bankruptcy proceedings, the foreign manager is entitled to apply for bankruptcy and to participate in the bankruptcy proceedings conducted by the Polish courts, just as the creditor.

Article 403. [ Assessment of the legal effects of the declaration of bankruptcy under Polish law] 1. In the event of recognition of the decision to initiate the foreign bankruptcy proceedings, the effects of the declaration of bankruptcy on the estate of the bankrupt located in the Republic of Poland and the obligations which arose or are to be carried out in the Republic of Poland Polish, evaluates according to Polish law.

2. The ineffectiveness and appeals of the fallen activities concerning the property contained in the Republic of Poland in the mass of bankruptcy in the Republic of Poland shall be assessed according to Polish law.

Art. 404. [ Satisfaction of claims secured by the restricted rights of property] 1. The reaping of claims secured by the limited rights in rem on things located in the Republic of Poland or entered into the perpetual books and registers in the Republic of Poland shall take place according to Polish law. Article Article 313 ust. The fifth sentence shall not apply.

2. The mortgage shall expire on the conclusion of the contract of sale, provided that the funds are affected by the deposit account of the Minister of Finance. The basis for the deletion of the mortgage shall be the certificate of the court recognising.

3. The payment of amounts from the deposit shall be made directly to the creditors after the approval of the plan of division drawn up by the foreign administrator or on the basis of the decision of the court recognizing, if no distribution plan has been drawn up.

TITLE IV

Secondary insolvency proceedings

Article 405. [ Secondary bankruptcy proceedings] 1. The recognition of the decision to open a foreign insolvency proceedings shall not prevent the Polish court from initiating proceedings of insolvency proceedings. However, if the decision to initiate the main foreign bankruptcy procedure was recognised, the insolvency proceedings initiated in the Republic of Poland are secondary proceedings of bankruptcy.

2. To the proceedings referred to in paragraph. 1, the provisions of this Title shall apply.

3. If a decision of the opening of the foreign insolvency proceedings has been recognized, the bankruptcy proceedings in the Republic of Poland shall be subject to general principles.

Article 406. [ Application of the provisions on secondary insolvency proceedings] 1. The provisions on secondary bankruptcy proceedings shall also apply to insolvency proceedings initiated before the recognition of the decision of the opening of foreign bankruptcy proceedings, if the Polish court considers the foreign bankruptcy proceedings to be root.

2. In the case referred to in paragraph. 1, the court shall amend the order in advance of the declaration of bankruptcy to the order of the initiation of the secondary insolvency proceedings.

Article 407. [ Initiation of proceedings] The court initiates secondary bankruptcy proceedings, if it claims that the creditor of the place of residence, the seat or the main centre of the primary activity in the Republic of Poland, the creditor whose claims are due to the activity an economic debtors maintained in the Republic of Poland, or a creditor, who is entitled to a debt-claim debtor secured on the debtor's assets located in the territory of the Republic of Poland by mortgages, pledge, pledge, registered pledge, sea mortgages or transfer goods, claims or other property rights.

Article 408. [ Presumption of debtor's insolvency] In the event of recognition of the decision to initiate the main foreign insolvency proceedings, the debtor shall be presumed to be insolvent.

Article 409. [ Amendment or repeal of established safeguards] In the event of a request for the initiation of a secondary insolvency proceedings, the court may annul or amend the security laid down in accordance with Article 4 (1) of the 390.

Article 410. [ Takeover of the board of directors bankrupt by the syndicate] After the opening of the secondary insolvency proceedings:

1) the Management Board of the bankrupt located in the Republic of Poland executed so far by a foreign manager or debtor, to whom the board of own assets has been left, takes over the syndicate established in the secondary bankruptcy proceedings;

2. The receiver shall enter into legal proceedings, administrative proceedings, administrative proceedings, administrative proceedings and before amicable courts, conducted by a foreign manager or debtor, to whom the management of his own property has been left.

Art. 410a. [ The creditors ' assembly to vote on the recognition of the effectiveness of the foreign agreement] 1. If in a recognised main foreign bankruptcy procedure the agreement is concluded, the content of which is not grossly contradictory to the Polish law, the court shall set a time limit for the assembly of creditors to vote on the recognition of foreign effectiveness System.

2. In the assembly of creditors they take part in the voting rights of the creditors whose place of residence, the seat or the main centre of the primary activity are located in the territory of the Republic of Poland, the creditors whose claims result from the economic activity of the debtor kept in the Republic of Poland, and the creditors which are entitled to the debtor of the debt secured on the debtor's assets located in the territory of the Republic of Poland, mortgages, pledge, pledge treasury, registered pledge, sea mortgages or transfer to security of assets, receivables or other property rights.

3. The assembly of creditors and the vote of the provisions on the assembly and the vote on the arrangement in the bankruptcy proceedings shall be applied accordingly.

Art. 410b. [ Redemption of secondary insolvency proceedings and repeal of the decision on recognition of the decision to open a foreign insolvency proceedings] If no resolution on the recognition of the effectiveness of a foreign system has been taken at the meeting of creditors, the court will appoint a secondary bankruptcy procedure and repeal the decision to recognise the decision to initiate the foreign insolvency proceedings.

2. Rules of Art. 393 (1) 3-5 shall apply mutatis mutandis.

Article 411. [ Liquidation of the bankrupt in the course of secondary bankruptcy proceedings] If a system is to be concluded in the secondary insolvency proceedings and the liquidation of the bankrupt property is to be carried out in the foreign main proceedings, the arrangement may only be winding-up in nature.

Article 412. [ The transfer remaining after the creditors have met the sum to the main foreign insolvency proceedings] The sums obtained from the distribution of the insolvency funds remaining after the creditors ' services in the secondary insolvency proceedings shall be transferred to the main foreign insolvency proceedings.

TITLE V

Cooperation with foreign courts and foreign trustees

Art. 413. [ Direct communication of the courts] In matters governed by the provisions of this section, the court and the judge-the commissioner may communicate directly with the foreign court and the foreign manager, in particular by telephone, fax or e-mail.

Article 414. [ Intermediary judge-commissioner in communication] The receiver established in the bankruptcy proceedings shall communicate with the foreign court and the foreign manager directly or through the judge-commissioner.

Article 415. [ Cooperation with a foreign court and foreign manager] 1. In matters governed by the provisions of this section, the court and the judge-the commissioner shall cooperate with the foreign court and the foreign manager.

2. If the insolvency proceedings have been initiated in the Republic of Poland, the court conducting the proceedings shall take the measures provided for in this Title.

Art. 416. [ Forwarding and asking for information] In the framework of cooperation with a foreign court and a foreign administrator, the court and the court-the commissioner may undertake activities which ensure the smooth conduct of insolvency proceedings, and in particular to transmit and request the information:

1) concerning the estate of the bankrupt and the place of its location, as well as information concerning the legal, administrative, judicial and conciliation proceedings concerning the fallen;

2) about the way of securing and liquidation of the estate of the fallen;

3) to satisfy the individual creditors.

Art. 417. [ Recognition of two or more foreign bankruptcy proceedings] 1. If bankruptcy proceedings were initiated in the Republic of Poland and the decision to initiate two or more foreign bankruptcy proceedings against the same bankrupt, the judge-the commissioner determines what the debtor's assets are covered by the individual progress. The decision of the Judge-Commissioner shall be entitled to a complaint.

2. If no bankruptcy proceedings have been initiated in the Republic of Poland involving a property belonging to the entity to which the foreign insolvency proceedings are conducted, the order referred to in the paragraph shall not be initiated. 1, it shall issue a court which has recognised the decision to open a foreign insolvency proceedings. The provisions of Part 1 of Title II shall apply mutatis mutandis.

PART THREE

SEPARATE INSOLVENCY PROCEEDINGS

TITLE I

Insolvency proceedings initiated after the death of an insolvent debtor

Art. 418. [ Submission of an application for a declaration of bankruptcy after the death of the debtor] If the application for a declaration of bankruptcy to an entrepreneur or a person referred to in Article 8 or Article 9, filed after their death, bankruptcy proceedings are carried out according to the provisions contained in the title hereby.

Article 419. [ Establishment of a probation officer in the event of death of a debtor] 1. If in the proceedings does not take part of the heir whose rights have been established by the final decision on the statement of acquisition of inheritance, or the probation officer, the court in the order of declaration of bankruptcy will establish the curator to which he applies Article 1 187. After the announcement of bankruptcy, the decision to set up or change the curator seems to be a judge-commissioner.

2. In the event of a divestment of the inheritance before the announcement of the bankruptcy proceedings, the proceedings shall be carried out with the buyer of the inheritance to which the provisions concerning the fallen are applied.

Article 420. (repealed)

Article 421. [ Composition of the mass of bankruptcy] The assets of the estate fall into the mass of the estate after the deceased debtor.

Article 422. [ The ineffectiveness of certain testamentary provisions] The establishment of the executor of the will and the records and instructions are ineffective against the mass of bankruptcy.

Art. 423. [ The challenge of a fallen victim to the victim of a fallen victim] For the fallen action, made six months before his death, the provisions of art. 127-130a is used.

Art. 424. [ Emergence of legal effects associated with the adoption of the decline] In the event of bankruptcy in matters covered by the provisions of this title, the legal effects associated with the adoption of the inheritance arise after the end of the insolvency proceedings.

Art. 425. [ Extract from the approved list of receivables against the heir] Upon completion or remission of the insolvency proceedings, an extract from the approved list of claims, including the identification of the claim and the sum to which it is received by the creditor, shall be an enforceability against the heir.

TITLE IA

Bankruptcy proceedings against developers

SECTION I

General provisions

Art. 425a. [ Bankruptcy proceedings for developers] The provisions of this Title shall apply in the event of a declaration of bankruptcy of the developer within the meaning of the Act of 16 September 2011. on the protection of the rights of the purchaser of a dwelling or a single-family house (Dz. U. No. 232, pos. 1377 and from 2015 items 978), hereinafter referred to as the "Act on the protection of the purchaser".

Article 425b. [ Objective of insolvency proceedings against the developer] The proceedings referred to in this Title shall be carried out for the purposes referred to in Article 4. 2, and also to satisfy purchasers by transferring the ownership of the premises on them, as long as the rational considerations allow them to do so.

Art. 425c. [ Definitions] Whenever the provisions of this Title are referred to in this Title:

1) purchasers-shall be understood by a natural person, a legal person, as well as an organisational unit which is not a legal person, the separate law of which grants legal capacity to which the developer has undertaken to transfer the law referred to in art. 1 of the Buyer's Protection Act, and which has undertaken to fulfil the cash benefit to the developer on the price of the acquisition of this right;

2) transfer of ownership of the premises-the transfer of ownership of the dwelling must be understood as well as the transfer of the ownership of the land property of a single-family house or a perpetual usualor of land and land. the ownership of a single-family house on the property which is a separate property;

3) of the development contract-this must be understood by the contract between the fallen and the purchaser, the object of which is the transfer of the right referred to in art. 1 of the Act on Buyer Protection.

Article 425d. [ Disable the application of the provisions of Article 488-490 when the lapsed is the issuer of the bonds] In the case where the issuer of the bonds fell, and for the protection of the rights of the bonds, a security was established on the property on which the development project is carried out, the provisions of art. 488-490 does not apply.

SECTION II

Further development of the development project

Art. 425e. [ Further conduct of the development project] 1. In the bankruptcy proceedings, the receiver may continue to run the property development project, with the consent of the judge-commissioner. Judge-Commissioner agrees, if the rational considerations indicate that the continued pursuit of the development project is economically justified and there are opportunities for it to be completed.

2. The Syndyk shall carry out a further development project of the bankrupt, in respect of which the resolution referred to in Article 4 was adopted by the earlier sanction proceedings against the fallen buyer. 358 (1) 4 of the Act of 15 May 2015. -The restructuring law, and paid or secured payment of the aid within the time limits referred to in Article 3 (1) of the Regulation. 359 (1) 1 and 2 of this Act, but the Agreement did not come to fruitation, unless the withdrawal from the further conduct of the development project expressed the consent of the judge-commissioner.

3. Syndication shall store the monies obtained from the aid paid in the earlier sanction proceedings, transferred to it by the liquidator established in this proceeding, in a separate bank account. In the event of a waiver from the further development of the development project, the administrator shall refund the aid to the purchasers, and the security of the payment of the aid shall be extinguished by law.

4. In the event of a final dismissal or rejection of an application for a declaration of bankruptcy or a waiver of proceedings concerning the declaration of bankruptcy of a provision of a paragraph. 3 shall apply mutatis mutandis.

Art. 425f. [ Transfer of premises] 1. In the event of further development of the development project in accordance with art. 425e to the development contract of the art provision. 98 does not apply in so far as it provides for the right of the syndicate to withdraw from the contract, and to the buyer's claim arising from the development agreement of the provision of art. 91 does not apply. The buyer's claim is satisfied by the transfer of the ownership of the premises.

2. The transfer of the ownership of the premises shall not cause the effects of the enforcement sale. Article Article 313 does not apply.

Art. 425g. [ mortgages on mortgages] If the property on which the development project is carried out is subject to a mortgage, which shall be given priority over claims by one purchaser, and the creditor secured by mortgages, he/she has agreed to the unburdened by the creditor. extraction of the dwelling referred to in art. 22 par. 1 point 17 of the Act on Buyer Protection, in accordance with Art. 76 (1) Fourth sentence of the Act of 6 July 1982 about the perpetual accounts and the hipote (Dz. U. of 2013 r. items 707, of late. zm.), such consent shall remain in force under the terms and conditions laid down therein, whereby the condition of execution of the buyer's obligation to the bankrupt shall be deemed to have been fulfilled in the event of the execution of the obligation to the hands of the administrator or the administrator established in the earlier the criminal proceedings.

Art. 425h. [ Consent to the cessation of further development of the development project] 1. If, in the course of the bankruptcy proceedings, the basis for admission is disclosed, that the continued operation of the development project is not justified by reason, judge-commissioner at the request of the syndicate shall give consent to the cessation of the further the development of the development project. The decision of the Judge-Commissioner shall be entitled to a complaint.

2. An entitlement to the decision of the judge-commissioner to consent to the cessation of the further development of the development project shall have the effect of the right of withdrawal by the syndicate from the development agreements on the basis of art. 98, and to the claims of the purchasers arising out of these agreements the provision of art. 91 shall apply mutatis mutandis.

3. To the aid in the part of the unused provision of art. 425e ust. The second sentence shall apply.

4. After the decision of the judge-commissioner to consent to the cessation of the development of the development project, the administrator shall inform the bank conducting the housing account of the trust in the development project. and submits a repayment disposition of the funds on the account to the purchasers.

SECTION III

Liquidation of the real estate on which the development project is being carried out

Art. 425i. [ Breakdown of sums obtained from liquidation of real estate] The sums received from the liquidation of the property on which the development project is being carried out shall be subject to a breakdown in general terms, including that in the case of an expression by a creditor secured by the mortgage-backed consent to the unladen separation the dwelling referred to in Article 22 par. 1 point 17 of the Act on Buyer Protection, in accordance with Art. 76 (1) Fourth sentence of the Act of 6 July 1982 the perpetual accounts of the purchasers and the mortgage, shall be deemed to have priority over the mortgage in respect of which they have made a payment against the contract.

Art. 425j. [ Satisfaction of the buyer's claims arising from the withdrawal from the development agreement] The Buyer's claims arising from the withdrawal from the development contract shall be subject to the compensation of the sums obtained from the liquidation of the property on which the development project is being carried out, on the same terms as the claim from the contract A developer. The purchaser shall have priority arising from the disclosure in the perpetual book of his claim from the development contract, also in the event that an entry on the disclosure of that claim has been deleted.

Art. 425k. [ Satisfaction of the monetary claim] The Buyer's monetary claim arising from the transformation of the claim from the development contract in the course of the restructuring or bankruptcy proceedings shall be satisfied in the manner set out in the art. 425j.

SECTION IV

Continuation of the development project by another entrepreneur

Art. 425l. [ Consent to the sale of the property on which the development project is carried out] 1. At the request of the administrator, the commissioner may agree to the sale of the property on which the development project is conducted, the entrepreneur who will undertake to continue the development project.

2. An entrepreneur buying a property on the basis of a mouth. 1 corresponds jointly and severally with the fallen for its obligations under the development agreements concluded in connection with the property development project, as well as for the obligations towards the purchasers resulting from the transformation of claims from such contracts in the course of restructuring or insolvency proceedings or from withdrawal from such contracts. The obligations referred to in the previous sentence shall not be subject to the vow of insolvency in the proceedings brought against the fallen.

3. Together with the property of the property entrepreneur acquiring property on the basis of the mouth. 1 acquires the fallen rights resulting from the development contracts concluded in connection with the real estate development project.

4. Sale of property on the basis of the mouth. 1 shall not cause the effects of the sale of enforcement. Article Article 313 does not apply.

5. By agreeing to the sale of property on the basis of the paragraph. 1, judge-the commissioner takes into account the interests of the buyers and the likelihood of completing the development project by the entrepreneur acquiring the property.

6. To the development contract concluded in the framework of the development project carried out on immovable property subject to sale on the basis of the paragraph. 1 Article 98 does not apply. To the buyer's claim arising from the developer's article recipe of the art. 91 does not apply.

7. In the case of sale of property on the basis of the mouth 1 Article 336, art. 345 and Art. No. 346 does not apply.

Art. 425m. [ Residential trustee account] 1. If, for a development project carried out on a property acquired on the basis of art. 425l (1) 1 is a conducted residential trust account of the bankrupt, entrepreneur acquiring the property is obliged to conclude a contract for the holding of a housing account within thirty days from the date of the expression by judge-commissioner of the consent referred to in art. 425l (1) 1. The operator shall immediately inform the receiver of the opening of the escrow account.

2. They shall immediately after the conclusion of the contract by the trader to carry out the housing account in accordance with the paragraph. 1 syndicator informs the bank conducting the residential trust account of the fallen on the passage of the rights from the development contracts in accordance with art. 425l (1) 3 and consists of the disposition of the transfer of funds collected on the housing account of the bankrupt to the entrepreneur's fiduciary account.

3. After the transfer of the measures referred to in paragraph. 2, for the housing account of the entrepreneur acquiring the property on the basis of art. 425l (1) 1 the contract for the holding of the housing account of the bankrupt ceases expires.

CHAPTER V

Continuation of the development project in the layout

Art. 425n. [ Reporting of arrangement proposals by purchasers] Purchasers in the number representing at least 20% of the number of buyers in the development project conducted by the bankrupt may submit their arrangement proposals within thirty days from the date of the bankruptcy.

Art. 425o. [ Scope of arrangement proposals] 1. The arrangement proposals may also include:

1) the payment of payments by all or some of the purchasers and satisfaction of them by the transfer of the ownership of the premises, with the arrangement proposals likely to provide for a later refund of the aid from the revenue from the implementation of the development project;

(2) the sale of the property on which the development project is carried out, with the conduct of its limited rights in rem, in favour of an entrepreneur who would commit to the purchasers and would undertake to continue to do so the development projects, and the arrangement proposals may provide for a change in the content of the development agreements;

3) determine other conditions for the continuation of the development project and the ways of its financing;

4) the conversion of the premises between the creditors or the conversion of the premises to the premises not being the subject of the development contract.

2. Article Recipe 162 of the Act of 15 May 2015 -The restructuring law shall apply mutatis mutandis.

Art. 425p. [ Different treatment of purchasers] 1. The arrangement proposals may provide for different treatment of purchasers depending on whether or not they pay the aid referred to in Article 3. 425o ust. 1 point 1.

2. To the arrangement proposals providing for the restructuring referred to in art. 425o ust. 1 point 2, attached to it in the form of a notarial deed irrevocable declaration of the entrepreneur's will about the acquisition of the property on which the development project is carried out, together with the burdens on it and the acquisition of liabilities the fallen in relation to the purchasers. In the case of final approval of the arrangement providing for the sale of real estate on the basis specified in the declaration of the entrepreneur's will as referred to in this paragraph, the statement shall replace his declaration of will necessary for conclusion the contract for sale of the property on which the development project is carried out and the contract is deemed to have been concluded.

3. The final decision to approve the system together with the statement referred to in the paragraph. 2, provides the basis for the disclosure of the ownership in the perpetual ledger. If for the development project a residential trust account of the bankrupt is carried out, the provision of art. 425m shall apply mutatis mutandis.

Art. 425q. [ Voting over the arrangement in the creditor groups] 1. Voting over the arrangement shall be carried out in the group of creditors.

2. The purchasers constitute a separate group of creditors for which a separate list of the creditors entitled to vote is drawn up. An additional division of buyers into a larger number of groups covering different categories of interest is admissible, in particular due to the degree of performance of the contract with the developer.

Art. 425r. [ Preliminary vote of purchasers on arrangement proposals, list of buyers] 1. If there are proposals for a arrangement providing for the restructuring referred to in Article 4 (1) of the Regulation, 425o ust. 1 point 1, the Commissioner shall immediately conduct a preliminary vote of the purchasers on the systemic proposals in so far as they are concerned.

2. The commissioner shall draw up a list of the purchasers entitled to vote on the basis of the list submitted by the receiver.

3. The praise of the purchasers shall be accepted if the purchaser declares a total of the aid sufficient in accordance with the content of the arrangement proposals to finance the completion of the development project.

4. The adoption of the resolution states the decision-commissioner.

Art. 425s. [ Obligation to pay subsidies] 1. In the event of acceptance of the resolutions of the purchasers referred to in art. 425r ust. 3, the purchasers obliged to pay the payment shall pay them to the mass of the bankruptcy or secure their payment to the extent provided for by the resolution within two months from the date of the resolution. In particularly justified cases, the deadline may be extended by a decision of the Judge-Commissioner.

2. If, within the time limit referred to in paragraph 1, 1, will not be paid or secured all the surcharges, in the full amount provided for by the resolution, the purchasers may supplement the missing aid by paying them or securing their payment within thirty days of the effective expiry of the period, of to the point of reference. 1. Within the same deadline, the fallen or the receiver may present proof of the existence of other sources of financing of the development project.

3. The payment or security of the aid or other funds in sufficient amount to finance the development project shall be determined by the decision of the European Commission, while at the same time setting a time limit for the meeting of creditors to vote on the the system. The content of the resolutions of the purchasers referred to in Article 425r ust. 3, it shall be incorporated into the agreement and the assembly of creditors may not adopt a system of content deviating from the resolution of the purchasers within the scope of the regulation. Judge-Commissioner draws the attention of the creditors participating in the assembly of creditors to the non-conformity of arrangement proposals with the resolution of the purchasers. The court refuses to approve a system of content deviating from the resolution of the purchasers within the scope of the regulation.

4. If within the time limits referred to in paragraph. 1 or 2, shall be paid or secured in the amount provided for by the decision of the purchasers referred to in Article 1. 425r ust. 3, the development project may be carried out further.

5. In the event of failure of the layout to effect, despite the decision of the purchasers referred to in art. 425r ust. 3, and the payment or security within the time limits referred to in paragraph 1. 1 or 2, the aid of sufficient amount to finance the development project in the subsequent bankruptcy proceedings by the receiver from the continuation of the development project requires the consent of the judge-commissioner.

6. Syndyk stores cash obtained from the surcharge on a separate bank account. In the event of a waiver from the further development of the development project, the administrator shall refund the aid to the purchasers, and the security of the payment of the aid shall be extinguished by law.

7. After the decision of the Judge-commissioner to consent to the termination of the syndicate from the continuation of the development project, the administrator shall inform the bank conducting the housing account of the ventures the development of the funds on the account of the purchasers.

TITLE II

Bankruptcy proceedings against banks and cooperative savings banks

SECTION I

General provisions

Art. 426. [ The entity authorised to apply for a declaration of bankruptcy of the bank] 1. The Bank shall also be insolvent if, according to the balance sheet drawn up at the end of the reporting period, the assets of the bank are not sufficient to meet its obligations.

2. An application for a declaration of bankruptcy of a bank may report only the Polish Financial Supervision Authority.

3. In bankruptcy proceedings against a bank of the provisions of art. 11 (1) 3-7 and art. 38-43 does not apply.

Article 427. [ Obligation to listen to certain persons on grounds of bankruptcy] 1. Before the announcement of the bank's bankruptcy, the court will hear about the grounds for bankruptcy and as to the person's syndicate:

1) a representative of the Financial Supervision Commission;

2) the President and other members of the last board or board of directors or liquidators of the requested bank.

1a. In the case of proceedings concerning the bankruptcy of a bank which is a subsidiary of the State Treasury, the court shall also hear the representative of the Minister responsible for the Treasury.

2. The Tribunal may refrain from hearing the President and other members of the bank's management board if their hearing would result in a delay in the recognition of the case.

3. Another bank may also be a Syndicate.

4. (repealed)

Art. 428. (repealed)

Art. 429. [ The announcement of the bankruptcy of a bank with the possibility of a deal 1. (repealed)

2. (repealed)

3. In the order of declaration of bankruptcy, the court establishes the curator to represent the bank in the bankruptcy proceedings. The provisions of Article 1 shall apply to the curator. 187 (1) 3 and 4.

Article 430. (repealed)

Art. 431. (repealed)

Art. 432. [ Forwarding reports of the syndicate and accounting statements] Reports referred to in Article 168, the syndicate shall communicate to the Financial Supervision Commission.

Article 433. [ Consequences of bankruptcy on the bank's bodies] In so far as these effects did not occur earlier, due to the opening of the arrangement procedure, on the day of the bankruptcy:

1) the management and supervisory authorities of the bank are dissolved;

2) expire the board of the commission, the appointment of the liquidator and the powers of the curator established on the basis of art. 144 ust. 1 of the Act of 29 August 1997. -Banking law (Dz. U. of 2015 items 128);

3. they shall lapse in respect of all the powers of the persons who are part of the bank's organs for the payment of cash, as well as the remuneration for the period after the bankruptcy.

Art. 434. [ Termination of contracts concluded by the bank] In so far as these effects have not occurred earlier in the course of the opening of the arrangement procedure, the day on which the bankruptcy is declared shall be terminated:

1) bank account agreements; interest rates on bank accounts shall be charged until the date of the announcement of bankruptcy;

2) the loan agreement and the loan, if by the date of the bankruptcy of the bankruptcy did not take the cash at the disposal of the borrower (borrowers);

3) the contracts of surety, bank guarantees and letters of credit, if up to the date of the bankruptcy of the bank did not receive commission from the title of these activities;

4. contracts for the making available of safe deposit boxes and storage contracts, except that the issue of items and securities should be made within a time limit which is agreed upon with the donation to be stored.

Art. 435. (repealed)

Art. 436. [ Extension of the circle entitled to submit arrangement proposals] 1. The arrangement proposals may also submit to shareholders (members) representing two-thirds of the share capital of the bank in the form of a joint-stock company or a cooperative bank of the cooperative bank, as well as the association bank, whose cooperative bank is a shareholder.

2. Before the agreement is approved, the court shall consult the Financial Supervision Commission.

Art. 437. [ A change in the way in which bankruptcy proceedings are conducted] 1. (repealed)

2. The conditions for the acquisition of the banking company by other banks and the deadline for the submission of tenders shall be determined by the judge-commissioner after consulting the Financial Supervision Commission.

3. The decision to approve the selection of the offer of the judge-the commissioner shall issue after consulting the Financial Supervision Commission.

Article 438. [ Takeover of bank accounts payable by the buyer of the banking company] 1. The buyer of the banking company takes over the liabilities from the bank accounts.

2. After the conclusion of the contract of sale of the banking company, the receiver shall notify immediately the sale of the bank to the register, in which the bank is entered.

Article 439. [ Sale of individual assets of the bankrupt bank] If a bank is not sold in its entirety, the administrator shall, with the approval of the Judge-Commissioner, accede to the sale of the individual assets of the bankrupt bank.

Article 440. [ Satisfaction of receivables and receivables accruing from a bankrupt bank] 1. Merit of receivables and receivables from a bankrupt bank, which are not covered by the provision of art. 438 par. 1, shall be followed in accordance with the Article. 342.

2. Receivables of the Bank Guarantee Fund for the payment of guaranteed funds, for the repayable assistance referred to in art. 20c ust. 1 of the Act of 14 December 1994. o Bankowy Guarantee Fund (Dz. U. of 2014 items 1866 and from 2015. items 978), and the support referred to in art. 20g ust. 2 of this Act, they are to be satisfied in the first category.

3. (repealed)

Art. 441. [ Satisfaction of claims secured by the restricted rights of property] Where claims and receivables have been secured by a restricted rights in rem, their satisfaction shall be fulfilled in accordance with Article 4. 345 and 346.

Article 441a. [ Application for the declaration of bankruptcy of a cooperative credit-savings bank] 1. An application for the declaration of bankruptcy of a cooperative savings bank may report only the Polish Financial Supervision Authority.

2. Another cooperative savings and credit cashions may also be used in insolvency proceedings with the syndicated cash-saving cash register.

3. The arrangement of the arrangement may also be submitted by members of the cooperative savings bank representing two thirds of the fund's share fund.

4. To the rest of the provisions of the art. 426-441 shall apply mutatis mutandis.

SECTION II

Insolvency proceedings against mortgage banks

Article 442. [ The creation of a separate mass of bankruptcy to satisfy the claims of the creditors of the bonds of pledged] 1. In the event of the announcement of the bankruptcy of a mortgage bank a separate mass of bankruptcy, which serves to satisfy the claims of the creditors of the bonds of pledges, they create:

1) mortgage bank claims and the rights and means referred to in art. 18 (1) 3, 3a and 4 of the Act of 29 August 1997. about the lists of mortgages and mortgage banks (Dz. U. 2003 r. Nr 99, pos. 919, of late. zm.), hereinafter referred to as the "Mortgage Lists Act", entered in the register of collateral for pledgings;

2) the funds obtained as a result of the repayment of the claims entered in the register of collateral of the pledges;

3) the assets obtained in exchange for the assets entered in the register of collateral of the pledgings.

2. In the event of doubt, whether the ingredients referred to in paragraph. 1, they belong to a separate mass of bankruptcy, it is considered that they belong to this mass to the amount disclosed in the register of collateral letters of pledged values:

1) the claims of the mortgage bank and the rights and means referred to in art. 18 (1) 3, 3a and 4 of the Act on pledgings;

2) respectively receivables and assets-in the case of the components referred to in paragraph. 1 points 2 and 3.

3. After the satisfaction of the claims of the creditors from the letters of pledged surplus, the funds of the separate bankruptcy are included in the mass of bankruptcy.

Article 442a. [ Unacceptable deductions] 1. The deduction of the claims of the creditor of a bankrupt mortgage bank with the claims of a bankrupt mortgage bank belonging to a separate bankruptcy shall not be permissible.

2. The provision of the paragraph. 1 shall not apply to the deduction of claims under the security financial instruments referred to in Article 3. 18 (1) 4 of the Act on pledges, entered in the Register of Security of Letters of pledges. To satisfy the claims of creditors of these instruments, the provisions of this chapter relating to the settlement of claims of creditors with pledges shall be applied mutatis mutandis.

3. The provision of the paragraph. 1 shall not also apply to accounts made under the payment system and securities settlement system of which the mortgage bank is in decline, and the financial collateral settlement established in accordance with the provisions of the the Act of 2 April 2004. about some financial security.

Article 443. [ Establishment of a curator to represent in the proceedings of the rights of holders of pledgings] 1. In the order of the declaration of bankruptcy, the court will establish the curator to represent in the proceedings the rights of the holders of the pledged letters. Before the curator is set up, the court shall consult the Financial Supervision Commission as to the person of the probation officer.

2. To the curator referred to in paragraph. 1, the provisions of Article 1 shall apply mutatis mutandis. 187 (1) 3 and 4 and the provisions on the reports of the Syndicate.

3. Holders of pledged letters may act in the proceedings either personally or by a proxy, if they have been admitted to participate in the proceedings by the judge-commissioner. Member of the Commission.-(IT) Mr President, Commissioner, Mr President, Mr President, Mr President, Mr President, Mr President, Mr President, Mr President, Mr President, Mr President, the

Art. 444. [ Notification to the mass bankruptcy of the sum of pledges] The curator shall, within a period of 21 days from the date of the bankruptcy, report to the mass of bankruptcy:

1. the total nominal amount not remitted to the date of the announcement of the bankruptcy of the pledged letters, the date of which is due before that date, and the total amount of the unpaid interest;

2) the total amount of the nominal letters of pledges and the interest payable after the date of the bankruptcy, and the bonuses provided in the plan.

Art. 445. [ Curator Authority] 1. Syndicate gives the curator all the information they need. The curator has the right to review the books and documents of the bankrupt bank.

2. At the congregation of creditors the curator shall have the right to vote only in matters that may affect the rights of the holders of the pledging letters.

Art. 445a. [ The convening of a meeting of creditors from the letters of pledges] 1. The EU-commissioner shall convene a meeting of creditors from the pledges at the request of creditors from the pledges representing at least 10% of the receivables from the nominal value of the pledges remaining on the market. The provisions on the assembly of creditors shall apply mutatis mutandis.

2. If the provisions of this chapter do not provide otherwise, the resolutions of the assembly of creditors from the pledges shall be taken regardless of the number present, by a majority of the creditors representing more than 50% of the receivables from the nominal value of the pledgings remaining on the market .

3. The consent of the congregation of creditors with pledged letters requires the sale of the assets entered in the register of security of the pledged letters:

(1) in its entirety, if the funds obtained from the sale are not sufficient to meet the costs of liquidation of the separate bankruptcy and the claims of the creditors in the form of pledged bonds;

2) in part, if their sale is planned below fair value.

Art. 445b. [ Liquidation of a separate mass of bankruptcy] 1. The liquidation of a separate bankruptcy mass of the receiver shall be carried out with the participation of the curator.

2. In the case of consent by the creditors ' council or the judge-the commissioner for sale from the free hand of property forming part of a separate bankruptcy mass sale requires the consent of the curator.

3. If the provisions of this chapter do not provide otherwise, the assets entered in the register of the security of the pledges shall be sold to another mortgage bank, and the sale of these components shall result in the buyer's transition to the liabilities of the fallen bank to creditors with pledgings. The acceptance of the creditors ' agreement with pledges is not required for the passage of the commitments. The sales will be announced.

4. The contract for the sale of a mortgage secured by mortgages forms the basis of the entry in the perpetual book.

5. For the sale of a part of the banking enterprise of a bankrupt mortgage bank, covering in particular the components of a separate bankruptcy mass, a resolution of the meeting of creditors from the pledges made by a majority of two thirds of the votes is required creditors in the nominal value of the pledges remaining on the market. In this case, the list of pledges is not covered by the sale, with the receiver being determined to take part in the sale price of the part of the bank's bankrupt mortgage bank, which will be used to satisfy the claims of the creditors of the bank pledges.

Art. 446. [ Prolongation of the maturity of the mortgage bank's obligations to creditors in pledging letters] 1. On the day of the announcement of the bankruptcy of the mortgage bank, the maturities of its obligations to creditors from the pledge letters shall be extended by 12 months.

2. Liabilities to creditors from pledging letters required, and not paid before the date of the announcement of the bankruptcy of the mortgage bank, shall be met within 12 months from the date of the declaration of bankruptcy, not before, however, after the first notice of the the results of the tests referred to in Article 446a ust. 8 point 1, subject to Article 446c ust. 1 point 1.

3. Interest on receivables from pledges receivable from the bankrupt shall be paid in the manner and time limits specified in the terms of issue.

Art. 446a. [ Test of balance of coverage and liquidity test] 1. Syndicate immediately, not later than within 3 months from the date of the announcement of the bankruptcy of the mortgage bank, shall carry out in respect of a separate mass of bankruptcy a test of the balance of coverage referred to in art. 25 par. 2 point 1 of the pledges law, and if the result of the balance of coverage test is positive-the liquidity test referred to in art. 25 par. 2 point 2 of this Act.

2. Further liquidity tests shall be carried out at least every 3 months and the next balance of coverage tests shall be carried out at least every 6 months. If the result of the coverage test is not positive, further testing shall not be carried out.

3. In conducting a test of balance of coverage and liquidity test, the syndicate shall take into account additionally the obligations of the pledges referred to in art. 446 par. 2.

4. The coverage balance test and liquidity test shall be carried out under the supervision of the curator, separately for mortgage bonds and for public pledges of the pledgings.

(5) The results of the balance test and the liquidity test are considered to be positive if, after they have been carried out, it has been established that a separate mass of bankruptcy is sufficient to fully satisfy the holders of the pledges.

6. Results of the first after the announcement of the bankruptcy test of the coverage or the balance test of the coverage and liquidity test, together with the documents on the basis of which these tests were carried out, the syndicate shall transmit immediately to the Supervisory Commission Financial. The results of subsequent syndication tests shall be notified without delay to the Commission, together with the documents on the basis of which the tests have been carried out, if they have been carried out in a different manner than the tests referred to in the first sentence. The Commission may submit comments, in particular to the manner in which the tests are carried out, within 2 weeks from the date of receipt of the results.

7. The Syndicate after considering the observations of the Financial Supervision Commission shall immediately forward the results of the balance test and liquidity test to the Judge-commissioner. The results of the first after the announcement of the bankruptcy test of the coverage or the balance test and the liquidity test shall be transmitted to the Judge-Commissioner no later than 4 months from the date of the announcement of the bankruptcy of the mortgage bank.

8. Action-Commissioner:

1. Notice the results of the balance of the coverage test or the balance test and the liquidity test;

2) issue and announce a provision on the way of conducting insolvency proceedings against the mortgage bank referred to in art. 446b (b) 1 or Art. 446c ust. 1, and of the way in which the proceedings are conducted, where the meeting of the creditors of the pledgings has passed the resolution referred to in art. 446b (b) 2, art. 446c ust. 3 or Article 446d par. 1.

Art. 446b. [ Positive Test Results] 1. In the case of a positive result of the coverage balance test and a positive liquidity test result:

1) the claims of the creditors from the pledges shall be met in accordance with the terms of the issue, taking into account art. 446 par. 1;

2) the syndicate may conclude agreements on financial instruments referred to in art. 18 (1) 4 of the Act on pledgings.

2. The assembly of creditors from the letter of pledges, not later than within 2 months from the date of the notice of the results of the tests, may take a two-thirds majority of creditors with the nominal value of the pledges remaining in the turn of the resolution on the obligation of the receiver to take action to sell all claims and rights of the bankrupt mortgage bank belonging to a separate bankruptcy:

1) to a mortgage bank with the passage of the entire liabilities of the bankrupt bank to the creditors of the pledge letters, or

2) in favour of a mortgage bank or another bank without the passage of liabilities of the fallen bank to the creditors of the pledgings.

3. The assembly of creditors from the letters of pledges referred to in paragraph. 2, shall be convened at the request filed no later than one month from the date of the notice of the results of the tests.

4. In the event of a resolution as referred to in paragraph. 2, point 2, of a separate bankruptcy mass shall be satisfied with claims of interest for the period up to the date of the sale of the receivables and the rights of the bankrupt mortgage bank.

5. If the proceeds from the sale of the components of the separate insolvency mass, less the total amount of the nominal value of the interest on the listed pledges, for the period of the following 6 months, and the amounts by which Article 446 par. 2, shall amount to at least 5% of the total amount of the nominal value of the traded pledges, the claims of the creditors of the pledge letters may be satisfied in proportion to the amount of those claims, on the dates earlier than in the extended maturities referred to in Article 446 par. 1. The provision of art. 356 par. 3 does not apply.

6. The pledged lists in the part satisfied in accordance with the paragraph. 5 shall be decommitted.

7. The measures referred to in paragraph 1. 5, shall be transferred to the creditors from the pledge letters in the near term of the interest payment specified in the terms of the issue, but not earlier than after 14 days from the date on which the decision of the Judge-Commissioner referred to in Article 4 has been entitled to be entitled. 168 (1) 5.

Art. 446c. [ Positive balance test result and no positive liquidity test result] 1. In the case of a positive result of the coverage balance test and the absence of a positive liquidity test result:

1) the maturities of the liabilities of the mortgage bank to creditors from the letters of pledges from the nominal value of these letters, including the liabilities required, and not paid before the date of the announcement of the bankruptcy of the mortgage bank, are extended by 3 years from the latest maturity of the claim entered in the register of security of pledged letters;

2) the claims of the creditors from the pledgings of the nominal value of these letters shall be met, in proportion to the amount of those claims, on the dates prior to the extended maturities referred to in point 1, from the measures constituting a separate mass of bankruptcy, if such measures, after deduction of the amount of:

(a) the total amount of the nominal value of the interest on the paid-up letters in the course of the payment for a further period of 6 months,

(b) the costs of insolvency proceedings in respect of a separate bankruptcy resulting from the syndicate's report

-shall amount to at least 5% of the total amount of the nominal value of the bonds of the pledges; the pledged lists shall be redeemed in the parts covered by the said amounts.

2. The transfer of the measures referred to in paragraph 2. Article 1 (2), Article 1 (2), (b) 446b (b) 7.

3. The assembly of creditors from the letter of pledges, not later than within 3 months from the date of the notice of the results of the tests, may take a two-thirds majority of creditors with the nominal value of the pledges remaining in the the exchange of the decision not to apply the paragraph. 1, or the application of the procedure referred to in Article 1. 446d. Article Recipe 446b (b) 3 shall apply.

Art. 446d. [ No positive balance test result] 1. Where the result of the balance test is not positive, the provisions of the Article shall apply mutatis mutandis. 446b (b) 7 and art. 446c ust. 1, unless the congregation of the creditors of the letters pledging by a two-thirds majority of the creditors of the nominal value of the pledges remaining on the market will take a resolution to consent to the liquidation of a separate mass of bankruptcy and the sale of the assets entered in the register of security of the pledges.

2. The liabilities of the mortgage bank to the creditors of the pledges shall become due on the date of the resolution referred to in paragraph. 1.

3. In the event of a resolution as referred to in paragraph. 1, it is possible to sell the assets entered in the register of collateral of the pledged letters:

1) to a bank other than a mortgage bank without the change-over to the buyer of the liabilities of the bankrupt bank to the creditors of the pledgings;

2) to a party other than a bank-in the case of ingredients whose possession is not reserved for banks.

4. In the case of the sale of the asset entered in the register of the security of the pledged letters without the transfer to the buyer of the obligations of the fallen bank to the creditors of the pledged letters, from the funds obtained from the sale shall be satisfied with the claims of the interest on the pledge letters secured by this component for the period up to the day of sale.

Art. 447. (repealed).

Art. 448. [ Claims satisfied with a separate bankruptcy] From a separate mass of bankruptcy, a succession of succession is:

1) the costs of liquidation of a separate bankruptcy mass, which also include the probation of the curator, and the interest and other incidental receivables from the pledgings;

2) pledges according to their nominal value.

Article 449. [ Satisfaction of the holders of pledges from the bankruptcy mass fund] If a separate mass of bankruptcy is not sufficient to satisfy the holders of pledges, the remainder shall be satisfied by the distribution of the bankruptcies. The sum to satisfy the holders of pledges from the bankruptcy fund shall be transferred to the fund of a separate bankruptcy.

Article 450. [ Prohibition of the introduction into circulation of pledges issued by the bankrupt] It is not possible to enter into circulation letters of pledges emitted by the fallen, which are its property. Such lists shall be remitted.

Art. 450a. [ Exemption of provisions] The provisions of Title V of Title V of Title V of the insolvency proceedings are not applicable to insolvency proceedings.

SECTION III

Bankruptcy proceedings against credit institutions, foreign banks and domestic banks operating abroad

Chapter 1

General provisions

Article 451. [ Application of the provisions of the Act to the bankruptcy of banks and credit institutions] The provisions of this chapter shall apply in the case of:

1) to declare the bankruptcy of a national bank, if it conducts activities also 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 party to the Agreement on the European Economic Area;

2) the announcement of bankruptcy, the opening of the arrangement procedure or any other similar proceedings against the credit institution, if it conducts the activity also in the Republic of Poland;

3) the announcement of bankruptcy, opening of arrangement proceedings or any other similar proceedings against a foreign bank, if a foreign bank operates in the Republic of Poland and in at least one other member state of the Union European or Member State of the European Free Trade Agreement (EFTA)-the party to the Agreement on the European Economic Area.

Article 452. [ Definitions] 1. Whenever the law refers to the "national bank", "foreign bank", "credit institution", "branch of the national bank abroad", "branch of foreign bank" and "branch of credit institution"-it is understood by the institutions defined in the rules of the banking law.

2. The terms used in this chapter mean:

(1) 'foreign court' means a court or other authority authorised to conduct or supervise a bankruptcy, arrangement or other similar procedure in another Member State of the European Union or a Member State of the European Union The Agreement on Free Trade (EFTA)-the party to the Agreement on the European Economic Area;

2) "foreign manager"-a person or entity designated in a foreign bankruptcy, arrangement or other similar procedure to manage, reorganize or liquidate the debtor's assets, established in accordance with the law in force at another Member State of the European Union or of a Member State of the European Free Trade Agreement (EFTA)-a party to the Agreement on the European Economic Area.

Article 453. [ Exclusion of the application of exclusive national jurisdiction rules] The Polish courts do not have jurisdiction in bankruptcy cases involving credit institutions engaged in economic activity or having assets in the Republic of Poland. Article Article 405 ust. 1 shall not apply.

Article 454. [ Recognition under the foreign law of bankruptcy proceedings] The decision to open a foreign insolvency proceedings, arrangement proceedings or other similar proceedings against credit institutions is subject to recognition under the law if the proceedings have initiated a competent foreign court in a Member State of the European Union or a Member State of the European Free Trade Agreement (EFTA)-a party to the Agreement on the European Economic Area in which the credit institution is established.

Art. 455. [ Composition of the mass of bankruptcy] The bankruptcy mass of the national bank also includes the property of the bankrupt located in the territory of the Member States of the European Union or of the Member States of the European Free Trade Agreement (EFTA)-the parties to the agreement on the European Union Economic.

Chapter 2

Procedure

Article 456. [ Notice of declaration of bankruptcy] 1. The court, which has declared the bankruptcy of a national bank or a foreign bank, shall notify immediately the competent authorities of a Member State of the European Union or a Member State of the European Free Trade Agreement (EFTA)-the parties of the agreement o The European Economic Area, which houses a branch of the national bank abroad or another branch of a foreign bank, informing about the consequences of the bankruptcy.

2. If the initiation of the procedure referred to in paragraph 2 is not applicable. 1, may affect the rights of third parties in a Member State of the European Union or a member of the European Free Trade Agreement (EFTA)-a party to the Agreement on the European Economic Area, or if such persons are entitled to a complaint against the decision to declare insolvency shall be subject to a notice in the Official Journal of the European Communities and in two national-national-national-national-wide periodicals in which the branch of the bank is situated. The time limit for lodging a complaint shall be counted from the date of the notice in the Official Journal of the European Communities.

3. The claim referred to in paragraph 2, shall be carried out in the language or one of the official languages of the State in which it is posted. The notice shall specify the purpose and legal basis of the declaration of bankruptcy, the time limit for lodging the complaint and the address of the court which is competent to hear it, together with the address of the court through which the complaint is lodged.

Article 457. [ Call for notification of claims] 1. The call for the declaration of claims by creditors resident, habitual residence or established in a Member State of the European Union or a Member State of the European Free Trade Agreement (EFTA)- The website of the agreement on the European Economic Area contains a heading of the content: " Call for reporting of receivables. The deadline for the notification ', drawn up in all the official languages of the European Union and Norwegian and the Icelandic language. The request shall indicate the time limit for the declaration of the claim, the consequences of its failure, whether or not the creditors holding a privileged claim or who are in kind must make a claim, and shall specify the obligation to notify the claim. to attach evidence of the existence of a claim.

(1a) To call for the declaration of claims referred to in paragraph 1. 1, rule of art. 176 (1) 1 shall apply mutatis mutandis.

2. The creditor residing, the place of habitual residence or established place in a Member State of the European Union or a Member State of the European Free Trade Agreement (EFTA)-a party to the agreement on the European Economic Area may report the claim in the official language or one of the official languages of the State in which he/she resides, the place of habitual residence or the seat, however, at least the heading 'Notification of the claims' shall be expressed in Polish. The court may request a certified translation of the declaration into Polish.

Article 458. [ Equal rights of domestic and foreign creditors] 1. Creditors of the bankruptcy of a national bank or a foreign bank domicited, a place of habitual residence or a seat in a 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 have the same rights as the national creditors in the proceedings.

2. Foreign public receivables are met in the third category.

Article 459. [ Foreign Manager Rights] 1. In the event of a declaration of bankruptcy, opening of arrangement proceedings or any other similar proceedings in relation to a credit institution having a branch in the territory of the Republic of Poland, a foreign manager intending to carry out his the activities in the Republic of Poland are obliged to demonstrate their powers officially certified by the copy of the decision or the decision to establish it together with the certified translation into Polish.

2. The foreign manager referred to in paragraph. 1, shall enjoy in the scope of its official activities in the Republic of Poland with the same powers as they are entitled to in the State in which he was appointed.

3. The foreign manager is obliged to request disclosure of bankruptcy, opening of arrangement proceedings or other similar proceedings in the perpetual accountants, the National Court Register and other records kept in The Republic of Poland. Such a request may be requested by the competent judicial or administrative authorities of the State in which the bankruptcy was declared, the arrangement procedure opened or other similar proceedings were opened. Costs incurred in connection with this disclosure are part of the costs of the proceedings.

Article 459 1 . [ Obligation to be syndicated to creditors] The administrator shall regularly, at intervals of not less than six months, inform creditors whose habitual residence, place of residence or head office is located in other Member States of the European Union or in countries. of the European Free Trade Agreement (EFTA)-the parties to the Agreement on the European Economic Area of the activities undertaken in the insolvency proceedings during the period covered by the information.

Chapter 3

Applicable law and the effects of the declaration of bankruptcy

Article 460. [ Application of Polish law] Polish law shall apply in insolvency proceedings initiated in the Republic of Poland, unless otherwise provided by the provisions of this Chapter.

Art. 461. [ applicable law] 1. The employment relations of workers employed in the territory of another Member State of the European Union or of a Member State of the European Free Trade Agreement (EFTA)-the parties to the agreement on the European Economic Area are subject to the law appropriate for the contract of employment.

2. The recognition of the property for the property shall be assessed according to the law of the place of the position of things.

3. To the agreements for the use or acquisition of immovable property situated in the territory of another Member State of the European Union or of a Member State of the European Free Trade Agreement (EFTA)-the parties to the agreement on the European The Economic Area shall apply the law of the State in which the property is situated.

4. Rights concerning immovable property situated in 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 and the maritime vessel the register shall be governed by the law of the country in which the register is kept.

Article 462. [ Preservation of the rights of creditors and third parties offloading on things and other property of the bankrupt] 1. The announcement of bankruptcy shall not affect the rights of creditors and third parties of the property and other property of the bankrupt situated in the territory of another Member State of the European Union or of a Member State of the European Free Trade Agreement (EFTA)-the parties to the Agreement on the European Economic Area, without excluding the organised parts of that property, in particular the right to dispose of the property in order to satisfy the claims or the right to satisfy the claims on the property which the property is subject to brings, rights of pledge and mortgage, the right to request the issue of property from persons, we the rulings of which it is located against the will of the rightholder, the right to entrust the use of property.

2. Paragraph Recipe 1 shall apply to the rights and personal claims entered in the perpetual accounts and other public registers, the implementation of which leads to the rights set out in the paragraph. 1.

3. The provisions of the paragraph. 1 and 2 do not exclude the possibility of a claim for annulment of a legal act or of recognition as an unenforcing legal act with the victim's victim.

Art. 463. [ Effectiveness of sales contract] 1. Disclaimer in the contract of sale of ownership in favour of the seller does not expire as a result of the announcement of bankruptcy of the national bank which is the purchaser of the subject of the contract, if at the time of the announcement of bankruptcy the subject of the contract was of a Member State of the European Union or of a Member State of the European Free Trade Agreement (EFTA)-parties to the Agreement on the European Economic Area.

2. The announcement of bankruptcy of a domestic bank that is a seller of a property may not be the basis for withdrawal from the contract of sale, if the issue of the object of sale took place before the declaration of bankruptcy, and at the time of the announcement of the bankruptcy of the subject matter the sales were abroad.

3. The provisions of the paragraph. 1 and 2 do not exclude the possibility of a claim for annulment of a legal act or of recognition as an unenforcing legal act with the victim's victim.

Art. 464. [ Right to assess events relating to the entry into the book, register or on account] The exercise of rights the existence or disposal of which requires the entry in the books or registers, the disclosure of the account or the deposit of a central deposit, shall be governed by the law of the country where the books or registers, accounts or deposits are conducted.

Art. 465. [ Repurchase law] Subject to Article 464, the right of repurchase shall be governed by the law applicable to contractual obligations which apply to the contract from which the right is due.

Art. 466. [ Securities Transactions] Subject to Article 464, to contracts concluded within the framework of a transaction on a regulated market within the meaning of the provisions of the Act of 29 July 2005. the trading of financial instruments shall apply the law applicable to contractual obligations which apply to transactions concluded in that market.

Article 467. [ Compensation action] The offsetting action shall be governed by the law applicable to contractual obligations which apply to the netting agreement.

Article 467 1 . [ Announcement of bankruptcy and creditor's right to set off claims] The declaration of bankruptcy shall be without prejudice to the creditor's right to deduce his claim against the claim of the bankrupt if such offsetting is admissible under the law applicable to the receivables of the bankrupt.

Art. 468. [ Legal action to dispose of property or ship] The effectiveness and validity of a legal act in relation to immovable property, ship or aircraft subject to entry in the register or in relation to the rights the existence or disposal of which requires the entry in the books of the books the accounts, accounts or deposits are subject to the law of the State in which the property is situated or in which books, registers, accounts or deposits are held.

Art. 469. [ Legal actions carried out with the victim's urticaria] The provisions for the nullity and inefficiency of a legal act with a creditor shall not apply where the law applicable to that action does not provide for the ineffectiveness of the acts carried out with the victims of the creditors.

Article 470. [ Impact on ongoing legal proceedings] Impact of bankruptcy on legal proceedings pending before a court of a Member State of the European Union or of a Member State of the European Free Trade Agreement (EFTA)-the parties to the agreement on the European Economic Area are assessed according to the law of the country in which the proceedings are proceeding.

TITLE III

Insolvency proceedings of insurance and reinsurance undertakings

SECTION I

General provisions

Article 471. [ The entity authorised to request the declaration of bankruptcy of an insurance undertaking or a reinsurance undertaking] 1. An application for a declaration of bankruptcy of an insurance undertaking or a reinsurance undertaking may report only the debtor or the Financial Supervision Authority, hereinafter referred to as the "Commission".

2. The Commission shall be a participant in the proceedings.

Article 472. [ Syndicate in an insurance or reinsurance undertaking] 1. Before the declaration of bankruptcy of an insurance or reinsurance undertaking, the court shall consult the Commission on the person of the syndicate. The syndicate should have knowledge of the organisation and operating rules of the insurance and reinsurance undertakings. The syndicate may be a different insurance undertaking or a different reinsurance undertaking.

2. Syndicate shall submit to the Commission at least once a year the report of its activities and the accounting report, after its approval by the Judge-Commissioner.

3. The declaration of bankruptcy shall inform the creditors known to him who have granted the credit to the fallen loan.

Article 473. [ Appointment of a Curator] 1. In the order of the declaration of bankruptcy of the insurance undertaking, the court after consulting the Commission establishes a curator to represent in the proceedings the interests of the persons insured, insured, emollient or entitled from contracts insurance.

2. The curator referred to in this chapter shall apply the provisions of the article accordingly. 187 (1) 3 and 4 and the provisions on the reports of the Syndicate.

3. The remuneration shall be paid in the amount determined by the Judge-commissioner on a proposal from the Commission. The remuneration shall be paid out of the bankruptcy fund and shall be included in the costs of insolvency proceedings.

Article 474. [ Curator Authority] 1. Syndicate provides the curator with the necessary information. The curator has the right to review the books and documents of the fallen. At the congregation of creditors, the curator shall have the right to vote only in matters that may affect the rights of the insured.

2. The curator shall have the right to lodge the remedies on his own behalf in favour of the insured persons, entitled and entitled from the insurance contracts, and shall be entitled to conclude the contract for the transfer of the insurance portfolio to another facility with the possibility of reducing the amount of insurance or the amount of the compensation or benefits paid. In case of approval by the Commission of a contract for transfer of the portfolio, the curator announces immediately its contents three times in the journal of the nationwide scope.

3. (repealed).

4. The contract for the transfer of the insurance portfolio concluded by the curator shall apply separate provisions on the transfer of the insurance portfolio.

Article 475. [ Exemption of the application of the provisions on advance payments] To insured, emoluments or entitled to insurance contracts of a provision of art. 232 does not apply.

Article 476. [ Termination of insurance contracts] Insurance contracts concluded by the fallen insurance undertaking shall lapse if the curator has not entered into a contract for the transfer of the portfolio:

1) from compulsory contracts and life insurance contracts, within three months of the declaration of bankruptcy;

2) from other contracts within a period of one month from the date of the declaration of bankruptcy.

Article 477. [ The creation of a separate bankruptcy mass for the settlement of claims on insurance contracts, reinsurance contracts and the costs of liquidation of that mass] 1. On the day of the declaration of bankruptcy, the assets constituting the cover of technical provisions for the purposes of the solvency of the bankrupt insurance undertaking form a separate mass of bankruptcy intended to satisfy claims for insurance contracts, contracts reinsurance and the costs of decommissioning this mass.

2. The liquidation of a separate mass of bankruptcy shall be carried out by a receiver with the participation of the curator.

3. In the event of consent by the Board of creditors or the judge-commissioner for sale from the free hand of property forming part of a separate bankruptcy, the sale requires the consent of the curator.

Article 477 1 . [ The creation of a separate bankruptcy mass for the satisfaction of the claims of reinsurance contracts and the costs of liquidation of that mass] 1. From the date of the declaration of bankruptcy, assets covering the technical provisions for the solvency of the bankrupt reinsurance undertaking shall constitute a separate mass of bankruptcy intended to satisfy the claims of reinsurance contracts and the costs of liquidation of that mass

2. The liquidation of a separate mass of bankruptcy shall be carried out by the receiver.

Article 478. [ Claims and receivables met separately from a separate bankruptcy] 1. From a separate mass of bankruptcy of an insurance undertaking shall be satisfied in succession:

1) the costs of liquidation of a separate mass of bankruptcy;

2) receivables from insurance contracts, subject to the paragraph. 3;

(3) receivables from reinsurance contracts.

2. Unsatisfied with a separate mass of the bankruptcy of receivables from the insurance contracts shall be placed in the plan for the distribution of the bankruptcy mass funds in the first category.

3. Claims of persons injured and entitled under the compulsory insurance and receivables of insured persons, entitled and endowed with life insurance contracts, meeting the Insurance Guarantee Fund and the Polish Office Communication Insurers according to separate regulations, within the limits specified in those provisions.

Article 478 1 . [ Order order of claims of separate insolvency mass of the reinsurance undertaking] From a separate insolvency, the reinsurance undertaking shall be satisfied in succession:

1) the costs of liquidation of a separate mass of bankruptcy;

2. claims on reinsurance contracts.

Article 479. [ Satisfaction of claims by the Security Guarantee Fund] In the event of the dismissal of an application for the bankruptcy of an insurance undertaking for the reason referred to in Article 13 (1) 1, as well as in the event of redemption of the bankruptcy proceedings, the Insurance Guarantee Fund shall meet the claims of the injured and entitled persons, in the mode and on the rules specified in the separate regulations.

Article 480. [ Curator's powers in the vote on the conclusion of the agreement] When concluding the arrangement, the curator shall vote the sum of the claims of the insured persons who are not satisfied with a separate bankruptcy, with a vote of one vote from each sum which results from the distribution of the sum of all other claims entitled to votes by the number of creditors who represent these receivables.

SECTION II

Insolvency proceedings against established Member States of the European Union or of the Member States of the European Free Trade Agreement (EFTA)-pages of the Agreement on the European Economic Area of insurance undertakings and their branches and reinsurance undertakings and their branches

Article 481. [ Bankruptcy of insurance and reinsurance undertakings] The provisions of Article 4 452 (1) 2, art. 453-466 and art. 467 1 470 shall apply as appropriate in the case of:

1) to declare the bankruptcy of a national insurance undertaking or a national reinsurance undertaking, if it carries on business also abroad of the Republic of Poland in at least one other Member State of the European Union or State Member of the European Free Trade Agreement (EFTA)-a party to the Agreement on the European Economic Area;

2. the announcement of bankruptcy, the opening of the arrangement procedure or any other similar proceedings before:

(a) a foreign insurance undertaking,

(b) a foreign reinsurance undertaking

-having its registered office in a Member State of the European Union or a Member State of the European Free Trade Agreement (EFTA)-a party to the Agreement on the European Economic Area, if it carries out activities in the Republic of Poland;

3) the announcement of bankruptcy, the opening of the arrangement procedure or any other similar proceedings before:

(a) a foreign insurance undertaking,

(b) a foreign reinsurance undertaking

-having its registered office in a country which is not a member of the European Union or a member of the European Free Trade Agreement (EFTA)-a party to the Agreement on the European Economic Area, if it carries out activities in the Republic of Poland and in what at least one other Member State of the European Union or a Member State of the European Free Trade Agreement (EFTA)-a party to the Agreement on the European Economic Area.

Article 482. [ Definitions] Used in Art. 481 terms mean:

1) "national insurance undertaking"-an entrepreneur established in the territory of the Republic of Poland who has obtained authorization to perform an insurance business within the meaning of separate provisions;

1a) "national reinsurance undertaking"-an entrepreneur established in the territory of the Republic of Poland, who has obtained permission to perform reinsurance business within the meaning of separate provisions;

2. "branch of the national insurance undertaking" shall mean an establishment of a national insurance undertaking which carries out on its behalf and on its behalf all or some of the activities resulting from the authorisation granted to the national insurance undertaking;

(2a) "branch of a national reinsurance undertaking" shall mean an establishment of a national reinsurance undertaking, acting on its behalf and on its behalf, all or some of the activities resulting from the authorisation granted to the national reinsurance undertaking;

3) "foreign insurance undertaking"-an entrepreneur established abroad of the Republic of Poland performing an insurance activity within the meaning of separate regulations;

(3a) "foreign reinsurance undertaking"-an entrepreneur established abroad of the Republic of Poland, performing reinsurance business within the meaning of separate provisions;

4. "branch of a foreign insurance undertaking" shall mean an organization unit of a foreign insurance undertaking, acting in its name and on its behalf, insurance business;

5. "branch of a foreign reinsurance undertaking" shall mean the business unit of a foreign reinsurance undertaking which carries out on its behalf and on its behalf reinsurance activities.

TITLE IV

Bankruptcy proceedings against bond issuers

Article 483. [ Bankruptcy of the issuing entity] 1. The provisions of this Title shall apply in the event of a declaration of bankruptcy of the issuing entity, if the collateral for the rights of the bonds has been established as collateral on the assets of the issuer.

2. The provisions of this Title shall not apply in the event of a declaration of bankruptcy of the issuer of the income bonds, if the issuer in the content of the bonds has limited its liability to the amount of income or the value of the property of the venture. The funds earmarked for the settlement of the rights of bondholders of such bonds do not enter into the mass of bankruptcy, and the claims of the obligated debacle shall not be subject to the veil in the bankruptcy proceedings.

Article 484. [ Establishment of a curator for the representation of the rights of the bondholders] 1. For the representation of the rights of the obligor, the court shall establish the curator. The curator may also be the bank with whom it has entered into an agreement to represent the debenture debentures of the issuer. The debtors may also act in the proceedings either personally or by a proxy, if they have been admitted to participate in the proceedings by a judge-commissioner. The commissioner allows the debenture holders to participate in the proceedings after demonstrating that they are entitled to the rights of the bonds.

2. The curator referred to in paragraph shall not be established. 1, where for the security of the rights of the bonds, a mortgage on the assets of the issuer is established. In such a situation, the rights and obligations of the obligor bonds in the insolvency proceedings shall be exercised by the administrator of the mortgage referred to in art. 31 par. 4 of the Act of 15 January 2015. o bonds (Dz. U. Entry 238).

Article 485. [ Curator] The provisions of Article 1 shall apply mutatis mutandis to the curator referred to in this Title. 187 (1) 3 and 4 and the provisions on the reports of the Syndicate.

Article 486. [ Curator Authority] The syndicator provides the curator with the necessary information. The curator has the right to review the books and documents of the fallen. At the congregation of creditors, the curator shall have the right to vote only in matters that may affect the rights of the obligor's.

Art. 487. [ Amounts of Bonds Declared to Bankruptcy By Curator] 1. The curator shall report to the mass of bankruptcy:

1. the total nominal amount not remitted to the date of the announcement of the bankruptcy of the bonds, the due date of which is before that date, and the total amount of the unpaid interest on those bonds;

2) the total sum of the bonds and the interest paid after the day of the bankruptcy.

2. In the notification, the assets of the issuer on which the protection of the rights of the bondholders have been established must be mentioned.

Art. 488. [ The creation of a separate mass of bankruptcy designed to meet the rights of the obligor's bonds] 1. The subject matter of the security of the bond rights creates a separate mass of bankruptcy designed to meet the rights of the obligated debentures.

2. The liquidation of a separate mass of bankruptcy shall be carried out by a receiver with the participation of the curator.

3. In the event of consent by the Board of creditors or the judge-commissioner for sale from the free hand of property forming part of a separate bankruptcy, the sale requires the consent of the curator.

Article 489. [ Satisfaction of creditors of a separate mass of bankruptcy] From a separate mass of bankruptcy, a succession of succession is:

1) the costs of liquidation of this mass, which also include the salary of the curator;

2) the debtors ' receivables in the nominal price of them;

(3) interest (coupons).

Art. 490. [ Satisfaction of creditors from the mass fund of bankruptcy] If a separate mass of bankruptcy is not sufficient for the full satisfaction of the debtors ' claims, the unsatisfied receivables are subject to the insurer's satisfaction with the bankruptcy.

Art. 491. [ Ban on the circulation of bonds issued by the bankrupt] It is not possible to enter into circulation bonds issued by the bankrupt, which are its property. Such bonds shall be remitted.

TITLE V

Insolvency proceedings against natural persons not engaged in economic activity

Article 491 1 . [ Subjective range] The provisions of this Title shall apply to natural persons whose bankruptcy may not be declared in accordance with the provisions of Chapter II of Title I of Part One.

Article 491 2 . [ Announcement of bankruptcy by the debtor] (1) In cases not covered by this Title, the provisions on insolvency proceedings shall apply mutatis mutandis, except that the provisions of Article 1 shall apply mutatis mutandis. 13, art. 21, art. 22a, art. 25, art. 32 par. 5, art. 36, art. 38, art. 38a, art. 40, art. 74, art. 163, art. 164, art. 307 ust. 1 and Art. No. 361 does not apply.

2. insolvency proceedings in matters covered by the provisions of this Title shall also be carried out if the debtor has only one creditor.

3. An application for a declaration of bankruptcy may declare the debtor, taking into account art. 8 and art. 9. The application consists of a form.

4. The application for a declaration of bankruptcy should include:

1) the name, the place of residence and the number of the debtor's PESEL, and if the debtor does not have a PESEL number-the data enabling his unambiguous identification;

2) an indication of the places in which the debtor's assets are located;

3) an indication of the circumstances justifying the application and their prima facie evidence;

4) the current and complete list of assets with an estimate of the valuation of its components;

5) the list of creditors stating their addresses and the amount of the claims of each of them and the time limits for payment;

(6) an inventory of the claims at issue with an indication of the extent to which the debtor disputes the existence of the claim; the indication of the claims in the inventory of the disputed claims does not constitute its recognition;

7) a list of the securities set up on the debtor's assets along with the dates of their establishment, in particular mortgages, pledges and registered pledges;

(8) a statement by the debtor that the circumstances indicated in the Article do not overlap. 491 4 paragraph 2 and 3.

5. If the application for the declaration of bankruptcy declares the creditor, the provisions of the paragraph. Paragraphs 2 and 4 to 8 shall not apply. Before giving judgment on the declaration of bankruptcy, the court may oblige the debtor to provide the information referred to in paragraph. 4, within two weeks.

6. The Minister of Justice shall determine, by means of a regulation, the models of the application forms for a declaration of bankruptcy, bearing in mind the entity submitting the application and the scope of the information the application of which is necessary.

Article 491 3 . [ Bankruptcy court] Proceedings for a declaration of bankruptcy covered by the provisions of this Title shall be recognised by a bankruptcy court in the composition of a single Judge.

Article 491 4 . [ Dismissal of the proposal] (1) The Tribunal shall dismiss an application for bankruptcy if the debtor has led to its insolvency or substantially increased its degree either intentionally or by gross negligence.

2. The Tribunal shall dismiss the application for a declaration of bankruptcy if, within a period of ten years before the date of application:

1) [ 3] the debtor has been subject to insolvency proceedings in accordance with the provisions of the title of the present case, if that procedure has been waived for any other reason other than at the request of the debtor,

2. the repayment plan set for the debtor has been waived on the basis of the provision of art. 491 20 ,

3) the debtor, having such an obligation, contrary to the provisions of the Act did not report in the time of the application for the declaration of bankruptcy,

4) the legal act of the debtor has been legally recognised as having been carried out with the hives of creditors

-unless the conduct of the proceedings is justified on grounds of fairness or humanitarian reasons.

3. The court shall dismiss the application for bankruptcy if, within a period of ten years prior to the date of application of the application in relation to the debtor, a bankruptcy procedure has been held in which all or part of its obligations have been removed, unless it is insolvent the debtor or an increase in the level of the debtor has occurred in spite of the debtor's due diligence or the conduct of the proceedings is justified on grounds of fairness or humanitarian reasons.

4. The Tribunal shall dismiss an application for a declaration of bankruptcy if the particulars given by the debtor in the application are incompatible with the truth or incomplete, unless the incompatibility or incompleteness is not relevant or the conduct of the proceedings is justified on grounds of fairness or humanitarian considerations.

5. To the application for the declaration of bankruptcy filed by the creditor of the mouth. 2-4 does not apply.

Article 491 5 . [ Inclusion of the proposal] Having regard to the request for a declaration of bankruptcy, the court shall issue an order for the declaration of bankruptcy, in which:

1) mentions the name, place of residence, address and number of the debtor's PESEL (fallen), and if the fallout does not have a PESEL number-the data enabling its unambiguous identification;

2) specify that the fallen person is a non-business person;

3) call upon creditors of the bankrupt to report the claim within thirty days from the date of the notice of the bankruptcy notice in the Register;

4) calls upon the persons to whom the rights are entitled and the rights and personal claims of the property belonging to the bankrupt, if they have not been disclosed in the register, to notify them within thirty days from the date of the notice of the the declaration of bankruptcy in the Registry, under the rigorous loss of the right to rely on the proceedings;

5) appoint a Judge-Commissioner and a Syndicate.

Article 491 6 . [ Notification of the order of bankruptcy, notification of the Treasury, ZUS or KRUS] 1. The order of bankruptcy shall also be served with the receiver.

2. The declaration of bankruptcy shall be notified to the competent body of the tax and the competent branch of the Social Insurance Institution or the Agricultural Social Insurance Fund.

Article 491 7 . [ Coverage of the costs of proceedings] 1. In the event that the assets of the insolvent debtor are not sufficient to cover the costs of the proceedings or the mass of bankruptcy is not provided by liquid funds to cover them, the costs shall be borne by the Treasury temporarily.

2. The Commissioner shall determine the amount of the costs of the proceedings and shall administer their immediate payment provisionally from the Treasury. The decision of the Judge-Commissioner shall be entitled to a complaint.

3. In particularly justified cases, the Commissioner shall grant an advance payment to the syndicate to cover the costs of the proceedings and shall manage the immediate payment of the temporary payment from the Treasury.

4. Syndicate shall reimburse to the Treasury the amounts paid out immediately after the impact on the insolvency of the funds sufficient to cover the costs of the proceedings.

Article 491 8 . [ Request for information relating to the bankrupt, affecting the assessment of its property] 1. After the declaration of bankruptcy, the receiver shall request the Governor of the tax office competent for the bankrupt application for information concerning the bankrupt, affecting the assessment of his property situation, in particular concerning the circumstances of the causing a bankrupt tax liability within five years prior to the date of filing for bankruptcy, and shall consult the National Court Register whether the bankrupt is a partner of commercial companies, as well as whether in the ten-year period prior to the date of filing of the application for bankruptcy acts as a member of the commercial companies ' body and has been bankrupt in relation to these companies.

2. Syndicate shall inform the judge-commissioner of the inconsistency of the information obtained in the manner referred to in paragraph. 1, with the data given by the bankrupt in the application for bankruptcy.

Article 491 9 . [ Syndicate remuneration] 1. The Tribunal shall determine the remuneration of the receiver in proceedings conducted under the provisions of this Title, taking into account the amount of the bankruptcy mass funds, the degree of satisfaction of creditors, the workload of the proceedings, the scope of the proceedings, the degree of activity their difficulties and the duration of the proceedings.

2. Remuneration of the syndicate shall be determined in the amount of from one quarter of the average monthly remuneration in the enterprise sector without payment of the profit prizes from the profit in the fourth quarter of the previous year, announced by the President of the Central Statistical Office to its twofold.

3. In particularly justified cases, the court may determine the remuneration of the syndicate in the amount of up to four times the average monthly remuneration referred to in the paragraph. 2, where justified by an increased amount of work by the receiver, resulting in particular from the complexity of the proceedings and the number of creditors.

4. The remuneration of the receiver and the reimbursement of his expenses shall be adjudicated by a bankruptcy court in the composition of one professional judge.

Article 491 10 . [ Closure of proceedings] 1. The Tribunal shall die at the request of the bankrupt.

2. If the lapsed does not indicate or will not give the syndicate all the property, the necessary documents or otherwise does not perform the obligations incumbered upon it, the court, ex officio or at the request of the receiver or the creditor, after hearing the fallen, the receiver, and in the event of the need for creditors, as well as the need for creditors, to be terminated, unless the failure of the bankrupt obligations incumbents is not relevant or that the conduct of the proceedings is justified on grounds of fairness or humanitarian reasons.

3. Paragraph Recipe 2 shall apply mutatis mutandis where the basis for the dismissal of an application for a declaration of bankruptcy shall be disclosed after the declaration of bankruptcy.

(4) The decision on the remission of proceedings shall be entitled to a complaint.

5. To the proceedings initiated at the request of the creditor of the provisions of the paragraph. 1-3 does not apply.

Article 491 11 . [ Items falling within the mass of bankruptcy] 1. Doubts as to which of the objects belonging to the fallen fall into the mass of bankruptcy, shall be decided by the Commissioner at the request of the receiver or the fallen.

2. The order of the judge-commissioner, as to which of the objects belonging to the fallen fall into the mass of bankruptcy and the order on the exclusion from the mass of bankruptcy, issued in accordance with the procedure laid down in Art. 73, served with creditors.

3. To the provisions referred to in paragraph. 2. The complaint shall be entitled to a complaint.

Article 491 12 . [ Authorisation of the bankrupt movable property belonging to the mass of bankruptcy] The syndicate may authorise in writing the bankrupt movable property belonging to the mass of bankruptcy. The provisions of the mandate shall apply mutatis mutandis to the authorisation.

Article 491 13 . [ Satisfaction of the housing needs of the fallen and dependants] 1. If there is a dwelling in the mass of bankruptcy, or the single-family house in which the dwelling falls, it is necessary to meet the needs of the fallen housing and dependent persons, from the sum obtained from the sale of the dwelling shall be allocated to a fallen amount corresponding to the average rent of a dwelling in the same or in a neighbouring locality for a period of twelve to twenty-four months.

2. The amount referred to in paragraph 1, at the request of the bankrupt, specifies the judge-the commissioner, taking into account the housing needs of the fallen, including the number of dependents, the gainful capacity of the fallen, the sum obtained from the sale of a dwelling or a single-family house and the opinion of the receiver. The decision of the Judge-Commissioner shall be entitled to a complaint.

3. If the funds of the mass of bankruptcy permit, and abandoned by a fallen dwelling or a single-family house has not yet been sold, the commissioner may grant a fallen advance against the amount referred to in the paragraph. 1.

4. In the case of proceedings initiated at the request of the creditor of the provisions of the paragraph. 1-3 shall not apply if the debtor has led to its insolvency or substantially increased its degree either intentionally or by gross negligence.

Article 491 14 . [ Determination of the repayment plan of creditors or remission of liabilities of the bankrupt] 1. After the execution of the final plan of division, and when due to the lack of assets of the fallen distribution plan has not been drawn up-after the approval of the list of claims, and after hearing the fallen, the receiver and the creditors, the court shall determine the repayment plan of the creditors or the the cases referred to in Article 491 16 , the default of the bankrupt undertaking without the establishment of the repayment plan of the creditors.

2. The order to determine the repayment plan of the creditors or the redemption of the debts of the bankrupt without the establishment of the repayment plan of the creditors shall be served on the creditors. The order shall be entitled to a complaint.

3. The payment of the order to determine the repayment plan of the creditors or the remission of the liabilities of the bankrupt without the establishment of the repayment plan of the creditors means the termination of the proceedings.

Article 491 14a . [ Exemption of provisions] In the case of a proceeding initiated at the request of a creditor of the provisions of Article 491 14 -491 21 shall not be applied if:

(1) the debtor has led to its insolvency or substantially increased its degree either intentionally or as a result of gross negligence;

2. the circumstances indicated in the Article shall be maintained. 491 4 paragraph 2-4.

Article 491 15 . [ Determination of the creditors ' repayment plan] 1. In the order to determine the repayment plan of creditors, the court shall determine the extent to which and at what time, not longer than thirty-six months, the bankruptcy is required to repay the liabilities recognised on the list of claims, not executed in progress proceedings on the basis of the plans for distribution, and what part of the liabilities of the fallen liabilities arising before the date of the bankruptcy, will be redeemed after the execution of the repayment plan of the creditors.

2. Liabilities arising after the announcement of bankruptcy and not executed in the course of proceedings shall be taken into account in the repayment plan of the creditors in full amount, with their repayment may be spread over the instalment for a period not longer than the plan prescribed for the execution of the plan the repayment of creditors.

3. Temporarily covered by the Treasury the costs of the proceedings shall be ordered by the court to charge the bankrupt. These costs shall be taken into account in the repayment plan of the full-amount creditors, the repayment of which may be spread over the instalments for a period not exceeding that foreseen for the repayment of the creditors ' repayment plan.

4. The Tribunal shall not be bound by the position of the bankrupt as to the content of the creditors ' repayment plan. In determining the repayment plan of the creditors, the court shall take into account the economic viability of the bankrupt, the need to keep the bankrupt and the dependants, including their housing needs, the amount of unsatisfied debts and their reality In the future.

5. The determination of the repayment plan of creditors does not violate the rights of the creditor against the guarantor of the bankrupt and the debtor of the fallen or the rights arising from the mortgage, pledge, registered pledge, the treasury pledge and the maritime hypothesis, if they were established on behalf of a third party. The establishment of the repayment plan of creditors and the remission of the liabilities of the fallen shall also be effective in relations between the fallen, and the guarantor, guarantor and debtor of the fallen.

6. During the period of execution of the repayment plan of creditors, it is not acceptable to initiate the enforcement proceedings concerning the claims arising prior to the establishment of the repayment plan of the creditors, with the exception of receivables arising from liabilities, of which Article 491 21 paragraph 2.

Article 491 16 . [ Redemption of fallen liabilities without establishing a repayment plan of creditors] 1. The court of default of the bankruptcy obligation without the establishment of the repayment plan of creditors, if the personal situation of the fallen man clearly indicates that he would not be able to make any repayments under the creditors ' repayment plan.

2. By marching the debts of the bankrupt without establishing the repayment plan of the creditors, the court shall charge the Treasury temporarily covered by the costs of the proceedings.

3. Rules of Art. 491 21 paragraph 2 and 3 shall apply mutatis mutandis.

Article 491 17 . [ Cassation complaint] 1. From the order of the court of the second instance to determine the repayment plan of the creditors or the remission of the liabilities of the bankrupt without the establishment of the repayment plan of the creditors, the cassation is entitled

2. In the case of a cassation complaint lodged, at the request of the complainant, the court may withhold the issue of the order referred to in Art. 491 21 paragraph 1.

3. If, as a result of the examination of the cassation complaint, the order to determine the repayment plan of the creditors will be repealed, the court shall repeal the order referred to in Art. 491 21 paragraph 1.

Article 491 18 . [ Implementation period of creditors ' repayment plan] 1. During the period of execution of the repayment plan of the creditors the fallen creditors cannot make legal acts concerning its assets, which could worsen its ability to implement the repayment plan of the creditors.

2. In particularly justified cases, the court, at the request of the bankrupt, may agree to make or approve the exercise of the legal action referred to in paragraph. 1.

3. It is obligatory to submit to the court annually, by the end of April, the report on the implementation of the creditors ' repayment plan for the previous calendar year, in which the revenues achieved, the amounts repaid and the acquired assets of the value are shown. exceeding the average monthly remuneration in the enterprise sector without payment of the prizes from the profit for the last quarter of the reporting period, announced by the President of the Central Statistical Office. The report will be accompanied by a copy of the annual tax returns.

Article 491 19 . [ Amendment of creditors ' repayment plan] 1. If the fallen fails to fulfil the obligations set out in the repayment plan of the creditors, the court at its request, after hearing the creditors, may change the repayment plan of the creditors. The court may extend the time limit for repayment of the claim for a further period not exceeding eighteen months. The order of the court shall be entitled to a complaint, and from the order of the court of the second instance, the cassation complaint.

2. If the failure to fulfil the obligations laid down in the repayment plan of the creditors is of a lasting nature and is due to circumstances beyond the control of the bankrupt, the court at the request of the bankrupt, after hearing the creditors, may repeal the repayment plan of the creditors and redemption of the unfulfilled obligations of the fallen, referred to in art. 491 15 paragraph 1-3. The order of the court shall be entitled to a complaint, and from the order of the court of the second instance, the cassation complaint.

3. In the event of a significant improvement in the property of the bankrupt during the period of execution of the repayment plan of the creditors, resulting from other reasons than the increase in the remuneration for the work or income obtained from the person performed by the bankrupt gainful employment, each of the creditors and the bankruible may request a change in the repayment plan of creditors. The court adjusts the court after hearing the bankrupt and the creditors covered by the creditors ' repayment plan. The order shall be entitled to a complaint.

4. Paragraph Recipe 3 shall apply mutatis mutandis to creditors whose claims arising prior to the establishment of the repayment plan of the creditors have been determined by a final judgment, the settlement concluded before the court or the final decision.

Article 491 20 . [ Repeal of creditors ' repayment plan] 1. In the event of failure by the bankrupt obligations laid down in the repayment plan of the creditors the court of office or at the request of the creditor, after hearing the fallen and the creditors covered by the repayment plan of the creditors, repeals the repayment plan of the creditors, unless failure to fulfil obligations is insignificant or further implementation of the repayment plan of creditors is justified on grounds of fairness or humanitarian reasons. The order shall be entitled to a complaint.

2. Paragraph Recipe 1 shall apply mutatis mutandis where they have fallen:

1) has not submitted within the time of the report on the implementation of the repayment plan of the creditors in accordance with art. 491 18 paragraph 3;

2) in the report on the implementation of the repayment plan of the creditors withinked the achieved revenues or acquired the assets referred to in art. 491 18 paragraph 3;

3) has carried out the legal action referred to in art. 491 18 paragraph 1, without obtaining the consent of the court or the action has not been approved by the court;

4) conceal a property or legal act of the bankrupt has been legally recognized as having been made with the hives of creditors.

3. In the event of the revocation of the repayment plan, the creditors of the bankrupt undertaking shall not be remitted.

Article 491 21 . [ Determination of the execution of the repayment plan of the creditors and the remission of liabilities of the bankrupt] 1. After the execution by the bankrupt obligations laid down in the repayment plan of creditors, the court shall issue an order to determine the execution of the repayment plan of the creditors and the remission of liabilities of the bankrupt before the date of the bankruptcy and not executed in the the outcome of the repayment plan of the creditors. The order shall be entitled to a complaint.

2. Non-remission of a maintenance obligation, obligations arising out of the payment of compensation for the invocation of the disease, incapacity for work, disability or death, the obligation to pay the judgment of the fine, and also for the performance of the obligation to repair the damage and redress for a known harm, the obligation to pay the tax or cash benefit ordered by the court as a criminal measure or a measure involving the perpetrator of the sample, as well as commitments to remedy the damage resulting from a criminal offence determined by the final judgment and the obligations which he had failed to inadvertently disclose, if the creditor was not involved in the proceedings.

3. After the issue of the provision referred to in paragraph. 1, the initiation of enforcement proceedings concerning the claim arising prior to the date of establishment of the repayment plan of the creditors shall be inadmissible except for the claims arising from the obligations referred to in paragraph 1. 2.

Article 491 22 . [ Convening the creditors ' meeting] 1. If it is likely that the objectives of the proceedings will be achieved by means of the agreement, the commissioner, at the request of the fallen, shall convene a meeting of creditors for the conclusion of the agreement. The decision to refuse to convene a meeting of creditors shall be entitled to a complaint.

2. By calling the assembly of creditors a judge-the commissioner can withhold the liquidation of the estate of the fallen, in particular the dwelling or the single-family house in which the indwelling fell. The decision on the cessation of winding-up shall be entitled to a complaint.

3. The request to convene a congregation of creditors filed after the end of liquidation of the mass of bankruptcy shall be left unrecognizable.

4. The arrangement may be accepted only with the consent of the fallen.

5. In the case of proceedings initiated at the request of the creditor, the application referred to in paragraph. 1, may also submit to each of the creditors. The provisions of the paragraph 4 does not apply.

Article 491 23 . [ The application of the provisions on the arrangement in the insolvency proceedings conducted vis-vis traders] To conclude an arrangement in proceedings under the provisions of this Title, to its effects, changes and repeals, the provisions on the arrangement in insolvency proceedings for traders shall apply mutatis mutandis, with the exception of Article 192 (1) 1 and 2.

PART CZWARTA

(repealed)

Article 492. (repealed)

Article 493. (repealed)

Article 494. (repealed)

Art. 495. (repealed)

Article 496. (repealed)

Article 497. (repealed)

Art. 498. (repealed)

Art. 499. (repealed)

Article 500. (repealed)

Article 501. (repealed)

Article 502. (repealed)

Article 503. (repealed)

Article 504. (repealed)

Article 505. (repealed)

Article 506. (repealed)

Article 507. (repealed)

Article 508. (repealed)

Article 509. (repealed)

Article 510. (repealed)

Article 511. (repealed)

Article 512. (repealed)

Article 513. (repealed)

Article 514. (repealed)

Article 515. (repealed)

Article 516. (repealed)

Art. 517. (repealed)

Article 518. (repealed)

Article 519. (repealed)

Article 520. (repealed)

Art. 521. (repealed)

PART FIVE

CARNE PROVISIONS

Art. 522. [ Application of untrue data in the bankruptcy filing application] 1. Who, being a debtor or a person entitled to represent a debtor who is a legal person or a commercial company not having legal personality, shall state in the application for the declaration of bankruptcy untrue data

-shall be punished by deprivation of liberty from 3 months to 5 years.

2. The same penalty shall be subject to, who, being a debtor or a person entitled to represent the debtor who is a legal person or a commercial company not having legal personality, in the proceedings on the declaration of bankruptcy gives the court untrue information on the status of the debtor's assets.

Art. 523. [ Concealment of assets in the mass of bankruptcies] 1. Who, being a fallen person or a person entitled to represent a bankrupt person who is a legal person or a commercial company not having legal personality, does not issue the syndicate of all assets entering the mass of bankruptcy, the accounts or other documents concerning its assets

-shall be punished by deprivation of liberty from 3 months to 5 years.

2. The same penalty shall be subject to, who, being a fallen person or a person entitled to represent a bankrupt person who is a legal person or a commercial company not having legal personality, does not grant to the receiver or to the Judge-the commissioner of information relating to the property is not available to the receiver of any data or documents which he or she may have in order to comply with the obligation referred to in Article 4 (1). 56 par. 1, 5 and 7 and art. 70 of the Act of 29 July 2005. public offering and conditions for the introduction of financial instruments to an organised trading system and public companies.

PART SIX

AMENDMENTS TO EXISTING PROVISIONS, TRANSITIONAL PROVISIONS AND FINAL PROVISIONS

SECTION I

Amendments to the provisions in force

Art. 524. (bypassed)

Article 525. (bypassed)

Art. 526. (bypassed)

Article 527. (bypassed)

Article 528. (bypassed)

Article 529. (bypassed)

Article 530. (bypassed)

Art. 531. (bypassed)

Article 532. (bypassed)

Article 533. (bypassed)

Art. 534. (bypassed)

Article 535. (bypassed)

SECTION II

Transitional provisions

Art. 536. [ Application of existing provisions] In cases where bankruptcy was declared before the entry into force of the Act, the provisions of the existing law shall apply.

Art. 537. [ Application of new provisions] In cases where, prior to the date of entry into force of the Act, an application for a declaration of bankruptcy has been received, but no order for bankruptcy has been issued, the proceedings concerning the declaration of bankruptcy shall be carried out in accordance with the provisions of the Act.

Article 538. [ Procedure for the opening of the arrangement procedure] 1. If the application for the opening of the arrangement procedure was submitted before the entry into force of the Act, but has not yet been ordered to open the arrangement procedure, the proceedings shall be carried out in accordance with the provisions of the Act. The court may oblige the debtor to submit an application for a declaration of bankruptcy with the possibility of concluding the agreement in accordance with the provisions of the Act.

2. In cases in which the order of opening the arrangement was issued before the entry into force of the Act, the provisions of the Regulation of the President of the Republic of 24 October 1934 shall apply. -The law on arrangement proceedings (Dz. U. Nr 93, pos. 836, as late. zm.), with the exception of art. 31 § 5, second sentence.

Article 539. [ Making an entry in the National Court Register] In the cases referred to in Article 536 and 538 par. 2, the entry into the National Court Register is carried out according to the provisions of the existing one.

Article 540. [ Proceedings opened before the entry into force of the Act] For proceedings opened before the entry into force of the Act, on the basis of art. 17 2 the Regulation referred to in Article 545 point 1, the provisions of the existing one shall apply.

Article 541. (bypassed)

Article 542. (bypassed)

Art. 543. [ So far insolvency proceedings] Whenever there is a 'insolvency proceedings' in the separate provisions, it is understood by insolvency proceedings involving the liquidation of the estate of the fallen estate.

Art. 544. [ Existing arrangement procedure] Whenever there is a 'arrangement procedure' in the separate provisions, it is also understood to mean a bankruptcy procedure with the possibility of concluding a system.

SECTION III

Final provisions

Art. 545. [ Repealed provisions] They are hereby repealed:

1) the Regulation of the President of the Republic of 24 October 1934. -bankruptcy law (Dz. U. of 1991. No. 118, pos. 512, of 1994. No. 1, pos. 1, of 1995. Nr 85, pos. 426, of 1996. Nr 6, pos. 43, Nr 43, poz. 189, No. 106, pos. 496 and Nr 149, pos. 703, of 1997 Nr 28, pos. 153, Nr 54, pos. 349, Nr 117, pos. 751, No. 121, pos. 770 and No. 140, pos. 940, 1998 Nr 117, pos. 756, of 2000 Nr 26, pos. 306, Nr. 84, pos. 948, Nr 94, poz. 1037 i No 114, pos. 1193 and 2001. No 3, pos. 18);

2) Ordinance of the President of the Republic of 24 October 1934 -Provisions introducing bankruptcy law (Dz. U. Nr 93, pos. 835 and 1946 Nr 31, pos. 197, No. 57, pos. 321 and No. 60, pos. 329);

3) Regulation of the President of the Republic of 24 October 1934. -The law on arrangement proceedings (Dz. U. Nr 93, pos. 836, of 1950 No. 38, pos. 349, of 1990 Nr 55, poz. 320, of 1996 Nr 6, pos. 43 and No 43, pos. 189 and 1997. Nr 96, pos. 592, Nr 121, poz. 770 and No. 133, pos. 885).

Art. 546. [ Entry into force] The Act shall enter into force on 1 October 2003, with the following:

1) in the case of entrepreneurs who have submitted the applications referred to in art. 12 (1) 1 of the Act of 30 October 2002. about public aid for entrepreneurs of particular importance for the labour market (Dz. U. Nr. 213, pos. 1800, with late. zm.), as well as debtors who are jointly and severally together with entrepreneurs who are a party to the restructuring proceedings under this Act, the provisions of this law on recovery proceedings come into force after 14 days from the date of the notice, except that the corrective action does not cover civil and public law obligations under the proceedings under the public aid rules for entrepreneurs of particular importance for the labour market, if the trader is party to such proceedings at the time of the announcement the statements of initiation of the corrective action in the Monitor Judicial and Economic Monitors;

2. the provisions of Article 451, art. 454-470, art. 481 and Art. 482 shall apply from the date of accession of the Republic of Poland to the European Union.


1) This Act shall apply to the implementation of the following Directives of the European Communities as regards its implementation:

(1) Directive 2001 /17/EC of 19 March 2001 (OJ 2001 L 28, p. on the reorganisation and winding-up of insurance undertakings (Dz. Urz. EC L 110 of 20.04.2001);

(2) Directive 2001 /24/EC of 4 April 2001 (OJ 2001 L 28, p. on the reorganisation and winding-up of credit institutions (Dz. Urz. EC L 125 of 05.05.2001).

The data relating to the publication of the acts of the European Union, as set out in this Act, on the date of accession by the Republic of Poland of membership of the European Union, shall refer to the publication of those acts in the Official Journal of the European Union. Special

[ 1] The title of the law as set out by the art. 428 point 1 of the Act of 15 May 2015. -Restructuring law (Journal of Laws item. 978). The amendment came into force on 1 January 2016.

[ 2] Article 65a (a) 1 in the wording set by Article 1. 22 of the Act of 31 March 2016. to amend the Act on Investment Funds and certain other laws (Journal of Laws of the 615). The amendment came into force on 4 June 2016.

[ 3] On the basis of art. 5 of the Act of 29 August 2014. o the amendment of the Act-bankruptcy and remedial law, the Act on the National Court Register and the Act on Judicial Costs in Civil Matters (Journal of Laws of the Law of the European Union). 1306), the request for a declaration of bankruptcy of a natural person not pursuing an economic activity is not subject to a deafening on the basis of art. 491 4 paragraph Article 2 (1), as amended, the law, if the insolvency proceedings were made on the basis of art. 361.