I get knocked down but I get up again?

The restructuring act became law in Poland in 2016. It gives businesses the opportunity to restructure to restore their profitability and mak necessary changes to their businesses. The act lays out four different approaches. The first option is a procedure for approving a mutual agreement, which is envisaged for companies with a small number of creditors. In this case, the debtor brings in a licensed restructuring advisor who then talks to the creditors, brokers a deal with them and applies to the courts for its approval. This system, however, does not provide the debtor with any protection and has, therefore, rarely been used. The second option – an accelerated arrangement process – is for parties who have no disputes or whose disputed debts are at a low level (up to 15 pct of the value of all liabilities). The next option is an arrangement procedure for those who have a high level of disputed debts, which is often the case with exporters (e.g. disputes over VAT). In both