The economic perturbations caused by the coronavirus pandemic are causing an increase in interest in restructuring, especially in its simplified form introduced under the “anti-crisis shield” provisions. Meanwhile, legislators intend to introduce various types of facilitations to the Restructuring Law on a permanent basis.
This concerns both the planned changes in the regulations concerning PROCEEDINGS FOR APPROVAL OF ACCOUNTS, as well as the planned significant increase in the digitalisation of restructuring proceedings.
In the former respect, the legislator intends to simply introduce into the Restructuring Law SOLUTIONS known from the simplified proceedings, which have gained considerable popularity in recent months.
It is intended that the amended proceedings for approval of the arrangement will be commenced by means of a NOTICE OF SETTLEMENT OF ACCOUNTABILITY DATE, and in order to carry out this action, it will be necessary to prepare, among other things, a PRELIMINARY RESTRUCTURING PLAN.
As far as the digitization of restructuring cases is concerned, the legislature is planning a MODIFICATION OF THE RULES OF ORDER OF THE COURTS, allowing for the issuance of documents and their copies through an ICT system.