Pre-pack – implementing a ‘pre-packaged liquidation’
We were one of the first law offices in Poland to propose and successfully implement a pre-pack liquidation procedure for our client. Despite the company’s serious financial difficulties and doubts as to whether it could file for conventional bankruptcy (insolvency), it was possible to sell the enterprise in its entirely to an investor, while maintaining it as an operating business.
We have successfully completed over a dozen pre-pack liquidation procedures since the regulation came into force.
How does the ‘pre-pack’ system work?
We first assess the situation to determine whether pre-pack liquidation is possible, based on an analysis of the financial and legal status of the entrepreneur.
During the course of the pre-pack liquidation we prepare the sale of the enterprise and respond to any offers.
We help find a buyer for the enterprise.
During the course of the pre-pack procedure we prepare a legal analysis of the company for sale.
As part of a pre-pack liquidation procedure we help prepare a bankruptcy petition together with all the necessary attachments with the aim of selling the company.
We represent the client during the course of insolvency proceedings as well as in contacts with a temporary court-appointed insolvency administrator