The Greenberg Traurig Warsaw Office Financial Restructuring and Insolvency Team is one of the leading teams in this area on the Polish market. Our attorneys provide legal advice to firms in financial distress, their creditors, new lenders and equity sponsors, as well as investors interested in injecting capital or acquiring assets of these companies. Our view is that the bankruptcy and liquidation of an enterprise is the least desirable, though sometimes inevitable, scenario in respect of which we provide legal advice. Our primary goal, however, is to provide both our clients in financial distress and entities that are ready to provide them with financing, invest capital or acquire their assets, with such legal assistance as will allow them to overcome financial distress.
We provide legal advice in the following areas:
- Pre-bankruptcy counseling to firms incurring significant losses concerning insolvency and insolvency risk regulations, as well as the rights and obligations of companies and members of their corporate bodies facing insolvency risk and significant losses.
- Advising on legal and tax aspects of debt reduction through its conversion to the company’s share capital.
- Advising on legal and tax aspects of out-of-court restructuring, including the execution of standstill agreements with financial creditors (including banks), refinancing, renegotiation of leases, tenancies and other agreements that need to be amended due to an insolvency risk, particularly with respect to real property projects.
- Advising on court restructuring, including advice on petitions to open court restructuring proceedings, composition proposals and all aspects of restructuring proceedings.
- Assisting in the implementation of the agreed workout measures in out-of-court and court restructuring processes.
- Assisting in filing bankruptcy petitions, including petitions under prepackaged plans.
- Advising on legal and tax aspects of the sale of distressed assets, including sales under prepackaged bankruptcy plans, both to companies under liquidation and to entities interested in acquiring their assets as part of the prepackaged procedure.
- Advising on legal and tax aspects of short- and long-term funding to companies in financial distress, in particular through loans, borrowings, issuance of shares, notes, convertible bonds and other debt or equity instruments both to companies that look for financing and those that provide financing.
- Advising banks and other financial institutions, including those acting as security agents, with respect to their rights and obligations related to restructuring and bankruptcy proceedings, negotiating the terms of additional funding, standstill agreements, negotiating composition terms and enforcement of collateral (liens, mortgages, title transfers).
- Advising on employment restructuring (individual and collective layoffs, comprehensive changes in the terms of employment, negotiations with trade unions and employee representatives, advising on obtaining the employee remuneration subsidies available under the Crisis Shield and other solutions available under law, etc.).
- Tax advice on obtaining tax reliefs in respect of tax liabilities of entrepreneurs in financial distress
- Representing clients before courts in restructuring and bankruptcy proceedings and other proceedings initiated in relation to restructuring or bankruptcy.
Our Financial Restructuring and Insolvency Team combines bankruptcy attorneys with others in various areas of law including: Banking & Finance, Real Estate, M&A, Private Equity, Capital Markets, Litigation, Antitrust, Labor & Employment, Regulatory and Tax. This multidisciplinary approach leverages all the resources of Greenberg Traurig available in Poland and abroad to provide legal advice on the largest, most complex financial restructuring processes, both in court and out-of-court, in Poland and cross-border.
Our attorneys advise clients under Polish, English and U.S. law. If needed, our Team obtains assistance from Greenberg Traurig offices in London, Amsterdam, Berlin and the United States.