Final results of Working Group for Best Practice Guidelines for Restructuring presented

On 9. October 2019 a Conference on out of court restructurings took place in Warsaw. The conference was held under the auspices of the Polish Bank′s Association (Zwi?zek Banków Polskich - ZBP). The opening speech was held by the deputy President of the ZBP, Jerzy Bańka. During the conference the final results of the Working Group for Best Practice Guidelines for Restructuring were presented.

The working group was founded under the initiative of ZBP jointly with BLPA bunk-alliance with the aim of developing best practice guidelines for out-of-court restructurings in Poland. The working group relied on the results of the White Paper on Restructuring published by ZBP in 2017, which was also based on a joint initiative of ZBP and BLPA bunk-alliance.

The aim of the guideline is to establish best practice rules both within the banking community and among the companies to be restructured and their advisors. By publishing clear ground rules which should be observed by both banks and their corporate clients during restructurings, the guidelines should help to make restructuring faster, more efficient and more successful. This is in the interest of both the credit financing institutions, their customers and the other stakeholders in a restructuring.

Dr. Artur Bunk, as co-author of the initiative, presented during the conference an outlook on the changes to be expected by Directive (EU) 2019/1023 of the European Parliament and of the Council of 20 June 2019 on preventive restructuring framework

If you are interested in more details on this initiative, please contact

Dr. Artur Bunk MLE at [email protected]