Open AccessRestructuring proceedings as a positive effect of implementing the instruments of the New Chance Policy in the Polish economy in the years 2016–2018
Author(s) -
Andrzej Tokarski,
Maciej Tokarski
Publication year - 2019
Publication title -
journal of management and financial sciences
Language(s) - English
Resource type - Journals
eISSN - 2657-5612
pISSN - 1899-8968
DOI - 10.33119/jmfs.2019.37.2
Subject(s) - restructuring , creditor , bankruptcy , business , debt restructuring , economics , real estate , limiting , finance , estate , market economy , debt , mechanical engineering , sovereignty , sovereign debt , politics , political science , law , engineering
You can respond to a business crisis in two ways: either by saving it (restructuring or remodelling the company and limiting, at least temporarily, creditor rights, while preserving the jobs and assets of the restructured entrepreneur) or by liquidating it (by realization of the estate and thus liquidation of the economic entity with a partial satisfaction of creditors and simultaneous return of tangible assets to trading). Thus, both liquidation and reorganization are possible in most countries. The problem of the accuracy of choice between the liquidation of an enterprise and its restructuring is one of the main topics of interest for practitioners and theorists dealing with the bankruptcy of enterprises. The decision to restructure constitutes an alternative to declaring an enterprise bankrupt. The aim of the article is to present kinds of restructuring proceedings, taking into account their characteristics, advantages and disadvantages, benefits and threats resulting from the multitude ofrestructuring proceedings including an analysis and statistics concerning the analysed phenomenon in the Polish economy in the years 2016–2018.