Financial difficulties - Poland

Updated 10/2010

Legal requirements

The Act on Bankruptcy and Reorganisation Law lays down support measures for companies threatened with bankruptcy.

Act on Bankruptcy and Reorganisation Law

Access to different sources of finance can help overcome financial difficulties.

Access to finance — Poland

When filing for bankruptcy is the only option left for a business owner, it pays to cut your losses, initiate proceedings sooner rather than later, and move on to a new project.

Bankruptcy — Poland

Administrative procedures

Order for payment

Procedures related to orders for payment

Proceedings by writ of payment based on documents are handled by the appropriate district and regional courts. The court issues an order for payment if a claimant makes a financial claim or seeks other substitute services, and the circumstances justifying the claim are proven in the following documents enclosed with the claim:

official documents,
invoices accepted by the debtor,
payment reminders and a written statement of the debtor recognising the debt, a request for payment accepted by the debtor but returned by the bank unpaid due to the lack of funds in the debtor's account.

The court issues an order for payment against a bill of exchange, cheque, and a properly filled in warrant or receipt, whose authenticity does not raise any doubts, as well as:

on the basis of contracts, proof of the fulfilment of mutual non-pecuniary obligations, and proof of the delivery of an invoice or bill to the debtor (if the claimant requests that the amount due be paid in cash or interests on commercial transactions, as laid down in the Act on 12 June 2003 on Payment Dates in Commercial Transactions (Journal of Laws No 139, item 1323).

A court can issue an order for payment if a bank makes a claim against bank statements, signed by persons authorised to issue statements on the rights and financial obligation of the bank and bearing the bank's stamp, and against proof that a written payment reminder was delivered to the debtor.

A defendant can lodge a statement of opposition within two weeks from the date the order of the court that issued the payment order is served.

Proceedings by writ of payment based on a plaintiff’s statement

A court can issue an order for payment if a claimant makes a financial claim, and in other cases, where specified in a regulation.

Proceedings by writ of payment based on a plaintiff’s statement are handled by district and regional courts.

Initiation of this procedure is not dependent on submission of the documents listed above. However, an order for payment cannot be issued if:

a claim is clearly groundless,
the circumstances presented arouse suspicion,
satisfying the claim is dependent on mutual performance,
the defendant's place of residence is unknown or the order for payment cannot be served within the country.

The debtor can lodge a statement of opposition within two weeks from the date the order for payment is served.

Deferred payment

The Tax Ordinance grants relief to businesses paying taxes. The tax authorities can extend deadlines for payment or defer the payment of taxes or arrears at the request of the taxpayer. Arrears, statutory interest and fees for extending deadlines for payment can be written off if there is a good reason relating to the taxpayer or significant public interest.

Tax Ordinance

Check also the legislation on this topic in:

Financial difficulties - Poland

Legal requirements