JGA provides advisory services to debtors in proceedings for initiating the restructuring process under the summary arrangement proceeding

The JGA team advised a debtor in proceedings for initiating the restructuring process due to the threat of insolvency. The debtor operates nationwide, providing short, medium, and long-term car rental services, generating annual revenue of several million Polish zlotys. Having analysed the debtor’s legal and economic situation, the advisory team decided to submit an application for the opening of a restructuring procedure under the accelerated arrangement procedure.

The scope of JGA’s advisory services included preparing the restructuring application, developing a preliminary restructuring plan, providing an initial description and review of the planned restructuring measures, and creating a schedule for their implementation.

Within a week from the submission of the application, the court opened the summary restructuring proceedings. As a result, the debtor received protection from enforcement actions, enabling them to negotiate with creditors in order to reach a mutually beneficial arrangement.

Adrian Dzwonek, a legal advisor, acted as the leader of the advisory team of JGA.