PROCEEDINGS CONCERNING AN ENTREPRENEUR IN THE FACE OF INSOLVENCY (Postepowanie wobec przedsiebiorcy zagrozonego niewyplacalnoscia w prawie francuskim)
Languages of publication
The Polish Law on Bankruptcy and Rehabilitation (Act of the 28th of February 2003 – Law on Bankruptcy and rehabilitation, the integral text Journal of Laws from 2009, No. 175, Item 1361) has not constituted any rescue proceeding, who could be compare with one of French pre-insolvency proceedings, called ‘sauvegarde'. This article presents the abovementioned French proceeding, that facilitate the restructuring of the company in order to continue trading, save jobs and pay the debt. The characteristics of ‘sauvegarde' are: opening when the debtor appears not to be able to overcome the difficulties at the absence of suspension of payments, the fact that the debtor's management is not affected, and the „observation period” (during this period any individual litigation against the debtor is excluded) that makes possible to create an rescue plan. Proceeding generally aim to put to practice the rescue plan, to take over the difficulties and to continue the debtor's company.
Publication order reference
CEJSH db identifier