A&O Shearman supports businesses and financial institutions with the entire range of restructuring, bankruptcy and insolvency mandates, including legal, litigious and transactional matters. Specifically, cross-border debt restructuring transactions are a key area of activity, and the department often acts for creditors and foreign investors concerning distressed M&A. The practice is also notable in both out-of-court and in-court restructuring and insolvency proceedings. Practice head Bartosz Merczyński boasts notable expertise in contentious restructuring mandates, while managing partner Arkadiusz Pędzich is skilled in distressed financing work.
Restructuring and insolvency in Poland
A&O Shearman
Practice head(s):
Bartosz Merczyński
Other key lawyers:
Arkadiusz Pędzich; Tomasz Kawczyński; Jerzy Zdrojewski; Paweł Bartosiewicz
Key clients
Bridgepoint Group
Samsung Electronics Polska
mBank
Bank Pekao
Santander Polska
PKO Bank Polski
Alior Bank
Haitong Bank (Polish Branch)
BGK
Work highlights
- Advised Bridgepoint, the private asset growth investor, on the sale of its stake in SMYK Group to a consortium of investors, including Mr Michal Grom, CEO of Smyk Group, Mr Maciej Zużałek and the Accession Capital Partners’ fund.
- Advising a consortium of banks on the restructuring of the financing for Grupa Azoty Polyolefins S.A., which is late in developing a polypropylene production plant in Police.
- Advised Samsung Electronics Polska sp. z o.o., acting as a major creditor, on the restructuring process of Neonet S.A., a corporate in the Polish retail sector specialising in the sale of consumer electronics and household appliances.
Clifford Chance, Janicka, Kruzewski, Stosio i wspólnicy spólka komandytowa
Miłosz Gołąb, as a member of the firm’s global financial markets group, and Bartosz Krużewski, a part of the firm’s litigation and arbitration team, jointly sit at the helm of the esteemed restructuring and insolvency group at Clifford Chance, Janicka, Kruzewski, Stosio i wspólnicy spólka komandytowa. Gołąb focuses predominantly on debt restructurings, while Krużewski boasts knowledge in bankruptcy proceedings. The department’s client bases consists of Polish and international banks, bondholders and trustees, insurance companies, companies undergoing restructurings and investors of distressed assets.
Practice head(s):
Miłosz Gołąb; Bartosz Krużewski
Other key lawyers:
Michał Jadwisiak; Anna Miernik; Mateusz Chmura; Bartosz Zieliński
Work highlights
Dentons
Dentons is lauded as ‘meticulous and highly skilled in the bankruptcy and restructuring industry’. This offering includes assistance with insolvency-related disputes, and its client base encompasses financial institutions as well as companies from the infrastructure, automotive and transportation, manufacturing and energy, retail, FMCG, agriculture and TMT industries. With an international client base, the team is very well placed to advise clients on their cross-border mandates. Department leader and co-managing partner Anna Pukszto also heads up the litigation and arbitration team, and she is experienced in distressed asset acquisitions. Tomasz Trocki is another key name as lead of the firm’s consensual restructuring practice. In team news, Stanisław Sołtysik was promoted to the partnership in April 2024.
Practice head(s):
Anna Pukszto
Other key lawyers:
Tomasz Trocki; Stanisław Sołtysik
Testimonials
‘Dentons is a law firm that is active in the restructuring and insolvency industry, offering clients a rich mosaic of opportunities in the field of actions aimed at opening restructuring and legal proceedings, as well as legal strategies aimed at protecting the interests of both the debtor and creditors.’
‘Dentons offers restructuring and bankruptcy assistance to entrepreneurs from a wide range of industries, such as natural resources and technology. Dentons is characterised by both professionalism and passion in acting and identifying legal problems that will always find the right method of solution.’
‘Dentons’ lawyers are meticulous and highly skilled in the bankruptcy and restructuring industry. They have an individual approach to each client and each case, providing access to the latest knowledge and proven solutions that enable quick and reliable action.’
‘Dentons’ lawyers draw on extensive experience in providing practical guidance in restructuring and bankruptcy proceedings by using innovative negotiation tactics that protect the interests of both the debtor and creditors.’
‘Stanisław Sołtysik – full professionalism, creativity, punctuality and personal culture, decisiveness in action.’
Key clients
BNP Paribas
Fives FCB
Generali Towarzystwo Ubezpieczeń
GX Technology
Haitong Bank
HSBC
ING Bank
mBank
Millennium Bank
PKO Bank Polski
Powszechny Zakład Ubezpieczeń
Santander
Uniqa
Work highlights
- Advised a leading global TMT company on the restructuring of its intra-group claims towards its Polish subsidiary amounting to approximately EUR 2bn, resulting from a number of loans granted in previous years and the liquidation of the subsidiary.
- Advised seven lenders and a facility agent, which provided the financing to two companies in connection with a leading shopping mall in Warsaw, on expedited composition proceedings opened for the borrowers.
- Advised a leading company in the retail sector on its debt restructuring, including assisting in the development of its strategy for the restructuring proceedings and navigating the complex negotiations with the lenders who provided existing financing to the client under various bilateral agreements.
Rymarz Zdort Maruta
Praised for her ‘vast knowledge’, licensed restructuring advisor Magdalena Pyzik-Walag leads the ‘outstanding’ team at Rymarz Zdort Maruta. Domestic and cross-border restructuring and insolvency proceedings are areas of expertise for the team, which composes lawyers with knowledge of M&A, private equity, capital markets, tax, corporate, litigation and banking and finance law. Specifically, the group is notably adept at handling restructuring matters that involve a large numbers of creditors, restructuring capital groups and credit extensions. Other areas of activity include in and out-of-court restructuring proceedings, liquidation bankruptcy matters, and distressed M&A transactions, as well as financial institution restructurings. In team news, Mateusz Palian joined the firm from Tatara & Partners Restructuring & Insolvency Law Firm in February 2024.
Practice head(s):
Magdalena Pyzik-Walag
Other key lawyers:
Paulina Cieslak; Mateusz Palian
Testimonials
‘Our case was highly complex and unique in the market. Despite navigating uncharted territory, the law firm’s team guided us through the process in a professional and secure manner. Their remarkable ability to quickly adapt to the situation, propose solutions in a constantly changing environment, and above all, their proactive approach and eagerness to help, deserve high praise.’
‘Magdalena Pyzik-Walag deserves special mention as the team leader and an invaluable asset. Magda is an institution in her own right, with vast knowledge and the ability to propose innovative, out-of-the-box solutions—crucial in today’s business environment. Only a top-class lawyer can piece together seemingly unrelated elements to form a coherent picture. Magda is that kind of lawyer.’
‘Magdalena Pyzik-Walag is deeply involved in projects and often acts more like an in-house counsel rather than an external advisor who simply drops in briefly. Additionally, she is a very communicative and friendly person who is able to build excellent relationships with clients, while remaining decisive and direct during negotiations with the other party.’
‘Rymarz Zdort Maruta is an outstanding chancellery equipped with vast, much broader than the market average, knowledge and experience in restructuring and insolvency. Their main advantage is finding best solutions for their clients, perfectly fitting their needs and expectations. This helps to secure their comfort and safety while making strategic decisions in the restructuring processes and many others.’
‘The collaboration is smooth and full of smart communication practices, using up-to-date technology methods and techniques. Without their advisory we would not be able to achieve as ambitious goals and produce as high added value as with Rymarz Zdort Maruta on board.’
‘One of the most outstanding individuals in Rymarz Zdort Maruta is Magdalena Pyzik-Walag. There are very few lawyers I know in Poland who have such big knowledge and experience in the field of restructuring and insolvency practice. I like her individual approach and focus on finding opportunities and solutions.’
‘Excellent knowledge of the process and nuances. Practical approach, fast in action.’
‘Magdalena Pyzik-Walag is a very creative person and lawyer ’
Key clients
Bank Guarantee Fund
Sportsdirect.com Poland sp. z o.o.
Getin Noble Bank S.A.
Podmiot Zarzadzajacy Aktywami S.A.
Meyer Gemüsebearbeitung GmbH
B&M Clothing Company sp. z o.o.
VeloBank S.A.
Noble Funds TFI
Kraftowe Alkohole sp. z o.o.
Syndyk masy upadlosci Idea Bank S.A. w upadlosci
Syndyk masy upadlosci Getin Noble Bank S.A.
Dom Maklerski BOS
Arcade Beauty
Reikon Games
Sax Development
Srodmiejska Spoldzielnia Mieszkaniowa
Work highlights
- Advised the Bank Guarantee Fund on the resolution process of Getin Noble Bank S.A.
- Advising Podmiot Zarzadzajacy Aktywami S.A. as a creditor on two remedial proceedings in Poland, in which the total liabilities of the debtors amount to over PLN 11bn.
- Advising the bankruptcy trustee in the monumental bankruptcy proceedings of Getin Noble Bank, which involves creating a list of creditors, liquidating the bankrupt’s assets and managing court proceedings initiated by over 17,000 former bank clients against the trustee.
Tatara & Partners Restructuring & Insolvency Law Firm
Tatara & Partners Restructuring & Insolvency Law Firm ‘is highly regarded in the market’ as ‘a boutique law firm, specialising in restructuring and insolvency law’. Areas of expertise for the group include pre-pack transactions and quick and simplified restructurings, and the practice has particular strength in arrangement approval proceedings. Founding and ‘stand-out partner’ Karol Tatara is a key name to note, as are Maciej Knopek and Tadeusz Grzesiak, all of whom are restructuring advisors. For Anna Czarnota, directors and officers liability issues are areas of expertise. Mateusz Palian joined Rymarz Zdort Maruta in February 2024.
Practice head(s):
Karol Tatara; Maciej Knopek; Tadeusz Grzesiak
Other key lawyers:
Anna Czarnota; Mateusz Kaliński
Testimonials
‘Tatara and Partners Law Firm is highly regarded in the market for their extensive expertise in restructuring and bankruptcy law. Based on their strong reputation among other legal professionals, I invited them to collaborate with us again on a project for our client.’
‘A lawyer who truly deserves recognition is Karol Tatara. Throughout our collaboration, I had the opportunity to witness firsthand his professionalism and willingness to propose innovative, out-of-the-box solutions. His knowledge and experience are truly impressive. I would also like to highlight Maciej Konopka and Anna Czarnota. Their vast experience, combined with deep expertise and sharp business instincts, made working with them both productive and enjoyable.’
‘Tatara & Partners is a boutique law firm, specialising in restructuring and insolvency law with broad knowledge and several years of experience based on the implementation of restructuring and bankruptcy projects to provide legal services to Polish and international clients. They approach every client individually, looking for unconventional solutions and creating restructuring strategies tailored to the business goals of particular organisations.’
‘Tatara & Partners’ team consists of specialised lawyers, restructuring advisors and economists providing appropriate recommendations, create effective solutions, and best adapt services to the client’s individual goals and needs. The stand-out partner, worth mentioning, is Karol Tatara. He advised in the first prepared liquidation (pre-pack) carried out in Poland, as well as a number of subsequent operations of this type, which are the specialty of his firm.’
‘Tatara & Partners is distinguished by its depth of expertise in insolvency and restructuring practice and a strategic approach that blends legal precision with commercial pragmatism. They focus on crafting creative, tailor-made solutions for distressed businesses, creditors and stakeholders.’
‘Karol Tatara and Anna Czarnota are standout figures in the insolvency and restructuring practice, renowned for their exceptional ability to navigate complex legal landscapes with strategic insight. What truly differentiates them from competitors is their deep understanding of both the legal intricacies and the commercial realities encountered by distressed businesses.’
‘The restructuring and insolvency practice stands out for its ability to guide us through challenging situations with confidence and clarity. The team brings a wealth of experience and offers strategic advice that’s both practical and forward-thinking. They’re great at handling complex financial restructurings and navigating insolvency proceedings, always staying focused on our specific needs.’
‘Mr Tatara is distinguished by his sharp analytical skills and ability to tackle even the most complex legal challenges with confidence. His strategic mindset and deep understanding of the business landscape ensure that his advice is both practical and insightful. I value his ability to remain calm under pressure and his skill at guiding us through difficult situations with clarity and focus.’
Key clients
Ruch S.A.
Expondo sp. z o.o. sp.k.
The Trustee (Administrator) of TWOJA SKOK
The Trustee (Administrator) of Idea Bank S.A.
H. Cegielski-Poznań S.A.
VIVID Games S.A.
CDP sp. z o.o.
Work highlights
- Adsed the debtor, Ruch S.A., on two simultaneous accelerated arrangement proceedings with partial arrangement.
- Advising the debtor H. Cegielski-Poznań S.A. on successful restructuring within simplified restructuring proceedings, where debt-to-equity-swap was used with regard to public entities.
- Advising the Trustee (Administrator) of Idea Bank S.A. in an insolvency proceeding.
Wardynski & Partners
Wardynski & Partners boasts a multi-disciplinary group of lawyers with strong capabilities in advising on large-scale in-court restructuring proceedings, insolvency mandates and bankruptcy-related matters on a domestic and cross-border scale, especially across the EU with the involvement of foreign insolvency office holders. In particular, the team is active in debt and corporate restructurings, as well as transactions involving distressed assets and debt. Its client roster encompasses both debtors and creditors, including banks and financial institutions across Poland. Konrad Grotowski spearheads the team, and he is notable for his expertise in complex disputes. Other key members of the practice include the ‘hands-on‘ Łukasz Szegda, who is skilled in out-of-court restructurings, and Mateusz Tusznio, for whom debt restructuring is a key area of activity.
Practice head(s):
Konrad Grotowski
Other key lawyers:
Łukasz Szegda; Mateusz Tusznio; Jakub Kokowski; Stefan Feliniak
Testimonials
‘Jakub Kokowski provides hands-on legal services and his working style is appreciated by both the internal legal team and the internal business team.’
‘As I am a bankruptcy lawyer myself, I recommend Konrad Grotowski as very skilled and effective.’
Key clients
Santander Bank Polska
PKO Bank Polski
ING Bank
Bank Polska Kasa Opieki
Credit Agricole Bank Polska
ACP Partners Limited
Bank Millennium
mBank
BNP PARIBAS FAKTORING
PEKAO FAKTORING
Keter Group
Work highlights
- Advising a group of eight financial institutions – creditors of Neonet S.A. (a Polish retail chain of stores selling consumer electronics) – on Neonet’s restructuring proceedings.
- Advising four financial institutions on a restructuring of a leading Polish manufacturing company providing specialised solutions to the energy sector.
- Representing consortium of banks comprising Bank Pekao, ING Bank Śląski, Bank Millennium, and Credit Agricole Bank Polska on the PLN 200m debt restructuring of a food production group.
Baker McKenzie Krzyzowski i Wspólnicy Sp.k.
Baker McKenzie Krzyzowski i Wspólnicy Sp.k. provides clients with a multi-disciplinary restructuring and insolvency offering which is composed of lawyers from the firm’s M&A, banking and finance, and dispute resolution teams. Areas of activity for the group include providing representation in out-of-court and in-court restructurings and bankruptcy proceedings, and advising on distressed asset transactions, debt recoveries, and commercial contract issues surrounding insolvencies. Restructuring advisor Karol Czepukojć heads up the practice with ‘outstanding skills and knowledge on restructuring and insolvency issues’ and the team boasts a diverse client roster that includes debtors and creditors, affected contractors and customers, and insolvency office holders.
Practice head(s):
Karol Czepukojć
Testimonials
‘Commitment, accountability, deep understanding of the business and availability (24/7).’
‘Their team member Karol Czepukojc has outstanding skills and knowledge on restructuring and insolvency issues.’
‘On a cross boarder restructuring project we worked together in past. Karol Czepukojc was representing creditors where I was court supervisor in arrangement procedure. His work was perfect in details of restructuring proposal composition as they were difficult due to company acquisition by the proposals sentence.’
‘Baker McKenzie team has provided thorough guidance and counsel as we navigate a unique transaction with parties across different countries and languages. Their comprehensive responses are of great value as we learn how to navigate a complex matter.’
‘Karol Czepukojć has been a very responsive and detail-oriented advisor. We have found great value in his expertise in insolvency, and pre-packaged bankruptcy applications in particular.’
‘Karol Czepukojć is an excellent, reliable, diligent lawyer whose services can be recommended with a clear conscience.’
Key clients
CSB Island Entertainment ApS
Polindus-Laktopol Capital Group
Google Poland sp. z o.o.
Santander Bank Polska S.A.
Work highlights
- Represented the largest creditor and chair of Creditors’ Council in a successful sale process of bankrupt debtor’s enterprise in its bankruptcy proceedings.
- Represented the Polish subsidiary of an American multinational information technology company in a successful termination of lease agreement and recovery of leased equipment against its insolvent lease holder.
DLA Piper Giziński Kycia sp.k.
DLA Piper Giziński Kycia sp.k.‘s team is compiled of both lawyers and tax advisors who are adept at handling matters involving corporate, insolvency, litigation, finance and tax elements. The group handles the entire remit of restructuring and insolvency mandates, encompassing representation in disputes, recovering claims from bankrupt debtors, and advising on distressed M&A. The group is also well positioned to advise both creditors and debtors throughout bankruptcy proceedings. Mariusz Hyla sits at the helm of the finance and restructuring group, while the litigation and regulatory department is chaired by co-managing partner Krzysztof Kycia. Magdalena Dec supports companies and their directors with compliance of bankruptcy and restructuring law.
Practice head(s):
Mariusz Hyla; Krzysztof Kycia
Other key lawyers:
Artur Sobol; Magdalena Dec; Paweł Bartosiewicz; Bartłomiej Gudek
Testimonials
‘Business oriented, quick response, know the market.’
Key clients
Aerotunel
Centerbridge
Springer Nature
Amerigas Polska sp. z o.o.
Work highlights
- Advised Aerotunel Sp. z o.o. on the acquisition of real estate in Gdańsk on which the construction of a wind tunnel is under way; the acquisition taking place as part of an out-of-court restructuring.
- Advised a UK energy company on the bankruptcy proceedings of a Polish construction and engineering company.
- Advised a leading shopping centre operator in Poland on the course of debtor bankruptcy proceedings – in connection with claims arising from nine large-format DIY stores raised in the bankruptcy proceedings.
Domanski Zakrzewski Palinka
Domanski Zakrzewski Palinka‘s client base is made up of beneficial owners, debtors, and creditors who seek out the practice for its expertise in restructuring, insolvency, and bankruptcy proceedings; it is particularly adept at supporting clients throughout their distress and resolution processes. The team is especially active in regulated industries, including the banking, financial services, consumer health, air travel, and renewable energy sectors. Practice head Michał Cecerko is a licensed restructuring advisor who has recently been notably active in prepackaged bankruptcy cases.
Practice head(s):
Michał Cecerko
Other key lawyers:
Damian Cieśla; Oliwia Dziamecka
Testimonials
‘The company has a team with a very wide range of specialisms. Since our company has its own legal department, we usually refer requests to DZP on complex matters and have not yet encountered a situation in which the law firm was unable to help us. DZP’s team is very stable, which is an advantage as it does not require us to present the company’s situation every time.’
‘The person with whom we cooperate most is legal adviser Michał Cecerko. As we have been working together for many years, Mr Cecerko is very familiar with the company’s situation. As a result, he always takes into account the specifics of the company’s operations, its current situation, but also pays attention to historical events and previous cooperation, so his involvement goes beyond mere legal advice.’
‘Michał Cecerko draws the company’s attention on his own initiative to significant events or legal changes that may affect the company’s operations.’
‘DZP’s restructuring and insolvency team is well-known for its detail-oriented approach and ability to stay focused even in very challenging environments.’
‘We would like to praise Michał Cecerko, who is easy to access and always very open. Also worth mentioning is support from Damian Cieśla.’
‘Professionalism, good experience.’
‘Michał Cecerko is recommended.’
Key clients
Idea Bank S.A.
FAKTORONE S.A. w restrukturyzacji
Getin Noble Bank S.A.
Edison Next Poland sp. z o.o.
LC Corp BV
Wydawnictwo Bauer
YIT Development sp. z o.o.
Work highlights
- Advised FAKTORONE, the factoring services provider, on its out-of-court and court debts restructuring.
- Representing Edison Next Poland, a creditor in the bankruptcy case of Elektrobudowa S.A.
- Advising the creditor of F.B.I Tasbud S.A., a contractor and one of the most prominent construction companies in the Warsaw housing market, on its financial difficulties and restructuring.
Filipiak Babicz Legal sp. k.
Filipiak Babicz Legal sp. k.'s restructuring and insolvency practice has a client base consisting of companies from a variety of sectors, including the retail, transport, energy, construction and textiles industries. It is highly adept at supporting creditors and debtors, trustees in bankruptcy and administrators across a plethora of mandates, including out-of-court debt restructurings, bankruptcy petitions and post-restructuring disputes. Licensed restructuring advisor Patryk Filipiak sits at the helm of the department, which also advises on legislative mandates.
Practice head(s):
Patryk Filipiak
Other key lawyers:
Hubert Zieliński; Piotr Kempiński; Rafał Kowalczyk
Testimonials
‘Thorough knowledge and experience of area of services provided.’
‘High expertise in field they operate.’
‘A unique combination of substantive competence and commitment to processes carried out for clients. A high level of financial and accounting competence as a supplement to legal knowledge. Scientific activity in the field of analysis of the characteristics of restructuring processes in Poland.’
Key clients
Ferax sp. z o.o.
Creditors of Getin Noble Bank S.A. in bankruptcy
OneDayMore sp. z o.o. sp.k.
Energomontaż Północ – Gdynia S.A.
Panek S.A.
VB Leasing S.A. and VB Leasing Automotive S.A.
Mikrokasa S.A.
Energetyczne Towarzystwo Finansowo-Leasingowe Energo-Utech S.A.
Golub Gethouse MLT sp. z o.o., MLT GGH sp. z o.o., GGH MLT sp. z o.o.
Kancelaria Medius S.A.
Blue City sp. z o. o.
Milickie Centrum Medyczne sp. z o. o.
PIKA sp. z o.o.
Schultze & Braun
Work highlights
- Representing VB Leasing S.A. and VB Leasing Automotive S.A. in remedial proceedings on the possibility of declaring ineffective the provisions of the agreements between VBL and VBLA (the financing party) with banks that provided for extremely unfavourable settlement terms, calling into question the sense of the restructuring.
- Advised Mikrokasa S.A. on preparing the content of the agreement with creditors in the restructuring proceedings.
- Advised Energetyczne Towarzystwo Finansowo-Leasingowe Energo-Utech S.A. on carrying out restructuring proceedings and developing arrangement proposals, including a detailed model for the valuation of the present value of collateral held by individual creditors.
Kochanski & Partners
The restructuring and insolvency team at Kochanski & Partners predominately supports creditors and investors, which mainly include financial institutions and private equity funds, as well as financially distressed entities. Its offering encompasses advice on out-of-court and in-court restructurings and bankruptcy proceedings, corporate and employment restructurings, and post-restructuring disputes, as well as insolvency proceedings. Corporate lawyer Rafał Rapala is notable for his expertise in restructuring projects of capital groups, and head of the litigation practice Mateusz Ostrowski is another notable name in the team.
Other key lawyers:
Rafał Rapala; Mateusz Ostrowski; Paweł Cholewinski; Anna Gwiazda; Paweł Mardas; Karol Połosak; Aneta Serowik; Witold Głuchowski
Testimonials
‘They are a top firm, with competitive rates, and quality lawyers. It’s an absolute pleasure every time I get to work with Kochanski & Partners.’
‘Karol Połosak, like many of his colleagues, is fast to respond, always provides sufficiently detailed explanations which allow me to carry on my work in a meaningful way.’
‘Karol Połosak is incredibly knowledgeable in his field. He has provided some comprehensive advice on larger topics, as well as advising and taking steps for more basic administrative tasks. He is the only Polish commercial/corporate lawyer I wish to work with. I’ll definitely use him in the future in other companies.’
Key clients
Mutares
SFC Solutions
PBG
Hampton by Hilton
Pandora
Duraline
Bei-Trans
Blachotrapez S.A.
Ringier Axel Springer Poland
BU Media
Paige Investments
EFC European Foundation
Work highlights
- Advising Mutares (SFC Solutions Częstochowa) on a complex sale and leaseback transaction involving a key manufacturing plant in Częstochowa, Poland, owned by SFC Solutions (a company owned by Mutares).
- Advising Duraline on a collective redundancy project at DuraLine’s manufacturing plant in Poland in connection with the restructuring of employment and the need to adapt the workforce to the employer’s business needs.
- Representing Bei-Trans (a Ukrainian-based transportation/logistics company present in the market for over 27 years, servicing 54 countries worldwide on three continents) in every stage of a restructuring proceedings initiated by a Polish debtor.
RESIST Law Firm
RESIST Law Firm has a strong focus on restructuring and insolvency law, as well as litigation, and it is praised for its ‘extensive experience in all proceedings at the restructuring and insolvency court’. Oskar Sitek, Piotr Rezanko, Tomasz Romanowski and Piotr Kieloch are the key senior names to note in the team. The firm also boasts a notable debt collection department which serves to assist the group with the needs of its creditors, which include banks, financial institutions, official receivers and real estate companies.
Practice head(s):
Piotr Rezanko; Oskar Sitek; Tomasz Romanowski; Piotr Kieloch
Other key lawyers:
Magdalena Zdanowska; Karolina Kosik; Agnieszka Ociesa
Testimonials
‘The exceptionality of the legal services provided in the field of restructuring and insolvency law is reflected by long-term experience in cases of entrepreneurs from various sectors of the market. RESIST Law Firm has gained extensive practice providing restructuring advisory services to entities operating in the areas of finance, transportation, energy and many others.’
‘Lawyers at RESIST law firm have extensive experience in all proceedings at the restructuring and insolvency court, including insolvency proceedings against developers, banks and cooperative savings and loan associations, cross-border insolvency proceedings as well as business interdiction proceedings.’
‘The best restructuring and insolvency team in Poland, if not CEE. They have top cases from the press headlines. RESIST has a strong litigation practice that focuses on defending or pursuing claims related to bankruptcy fraud, preferential transfers, fraudulent conveyances and disputes between creditors and debtors.’
‘I must say RESIST is the best and most professional legal team who operates on the restructuring and insolvency and bankruptcy market in PL. Their experience in such proceedings is priceless. They conduct many cross-border projects in various countries, having relations with various international law firms.’
‘Oskar Sitek has an in-depth knowledge of bankruptcy codes, insolvency laws, corporate finance regulations and creditor-debtor rights. He is well-versed in specific legal procedures, including liquidations, voluntary arrangements and administration. He is a problem solving and strategic thinking advocate – adept at handling high-stakes, high-pressure situations.’
‘Piotr Kieloch crafts comprehensive restructuring plans that include debt rescheduling, negotiating with creditors, business downsizing, and legal strategies to restore a company’s viability. He has a robust understanding of financial instruments, corporate finance and capital structures.’
‘Tomasz Romanowski is excellent in explaining complex legal and financial matters to clients, creditors and courts in a clear and accessible manner, ensuring that all parties understand their rights, risks and options. He is frequently engaged in litigation and represents me as an official receiver in court to contest or defend claims that arise in the context of insolvency or restructuring.’
‘Piotr Rezanko has a client-centred approach – he tailors his advice and legal strategies to specific situations. He always takes the lead in coordinating multiple advisors, managing negotiations and ensuring that all aspects of a restructuring or insolvency process are conducted smoothly.’
Key clients
SKOK Wołomin
Zortrax
Copernicus Securities Brokerage House
Hermes
Apollo
LightBox
Open Finance
Polskie Górnictwo Skalne
SKOK Kujawiak
Gea-Nova
Ursus
Elektrix
PEAC Finance
Carocelle
Denique
Work highlights
- Advising SKOK Wołomin, the savings and credit union from SKOK Group, on EUR 660m insolvency proceedings.
- Representing the official receiver of Open Finance, in EUR 36m insolvency proceedings.
- Advising Hermes PSF1 and Apollo PSF, companies from consumer finance sector, on EUR 28m insolvency proceedings.
SSW
Domestic and international clients, including both lenders and debtors, seek out the restructuring and insolvency expertise of SSW. The team possesses a wealth of knowledge surrounding bankruptcy proceedings, financial restructurings, standstills, out-of-court restructurings and distressed asset transactions. Piotr Grabarczyk joined the team from WKB Lawyers at the beginning of 2024 to jointly head up the department alongside Janusz Mazurek and Łukasz Grenda. Finance lawyer Mike Gorski is another addition to the team; he joined the firm from London-based Akin in April 2024.
Practice head(s):
Janusz Mazurek; Łukasz Grenda; Piotr Grabarczyk
Other key lawyers:
Łukasz Cudny; Mike Gorski; Helena Czechowska
Key clients
Waimea Holding S.A.
Orlen Południe S.A
Jeronimo Martins Polska
NWLP 2
East A4 Logistic Park
Waimea MM Sp. z o.o. Sp.k.
Erbud
Bondholders of Capitea S.A.
Powszechna Kasa Oszczędności Bank Polski S.A.
mBank S.A.
Haitong Bank S.A.
Grupa VOX
BNP Paribas Bank Polska SA
Muscateyewear Sp. Z o.o.
Real Menagement S.A.
MOUNT TFI S.A.
Immofinanz
Local Ocean France
Aviation Capital Group
Waimea Holding S.A.
Siemens AG
PZU TFI
PEKABEX S.A.
Firma Drobiarska Sp. z o.o.
Grupa Azoty Compounding
PKN ORLEN
TU LINK4
Work highlights
- Advising Waimea Holding S.A. on the restructuring of the corporate group.
- Advising NWLP 2 on a restructuring.
- Advising a leading foreign bank on complex out-of-court restructuring of several real estate financings granted to the Polish borrowers.
WKB Lawyers
Local and international clients, including lenders, financial institutions, debtors and prospective acquirers of distressed assets seek out the expertise of the restructuring and insolvency team at WKB Lawyers. Its experience is broad ranging, and encompasses representation in out-of-court restructurings, standstills and pre-bankruptcy arrangements. Distressed asset acquisitions are also a strength of the practice. The ‘extremely knowledgeable‘ Klaudia Frątczak-Kospin now solely leads the department since Piotr Grabarczyk departed for SSW at the end of 2023.
Practice head(s):
Klaudia Frątczak-Kospin
Other key lawyers:
Andrzej Wierciński; Jakub Jedrzejak; Piotr Gajek; Maciej Gniewosz; Karolina Kalinowska
Testimonials
‘I dealt extensively with Maciej Gniewosz and Klaudia Fratczak-Kospin. These attorneys were extremely knowledgeable with excellent client care skills.’
‘All the members of WKB with whom I interacted with were responsive, quick thinking and able to perform complex legal work upon request and always engaging in great follow up.’
‘Maciej Gniewosz and Klaudia Fratczak-Kospin are recommended.’
Key clients
VICE Group Holding
WeWork Inc
TAURON Wytwarzanie S.A.
Trafilerie Meridionali SPA
TU Europa
ING Lease
Hydraulico AS
Tom Tailor GmbH
CVI DOM MAKLERSKI S.A
PERN S.A.
Work highlights
- Advised WeWork entities on the Polish law aspects of Chapter 11 proceedings as well as other related matters concerning a Polish subsidiary.
- Assisted Tom Tailor GmbH with the restructuring process of its Polish exclusive distributor and its subsidiary being the owner of the sports clothing retail chain in Poland.
- Advised Hydraulico A.S. on the bankruptcy proceedings of one of the purchasers of the custom production line.
Zimmerman Sierakowski and Partners
Zimmerman Sierakowski and Partners is lauded as ‘an expert in restructuring and insolvency’ with ‘a wealth of practice in the application’ of the law. As a boutique restructuring, bankruptcy and insolvency law firm, it represents both creditors and debtors, as well as official receivers in matters surrounding bankruptcy estate cases. Managing and founding partner Piotr Zimmerman is praised as as ‘excellent negotiator’, and he is a key name in the team alongside insolvency practitioners Bartosz Sierakowski and Norbert Frosztęga.
Practice head(s):
Piotr Zimmerman; Bartosz Sierakowski; Norbert Frosztęga
Testimonials
‘This law firm is an expert in restructuring and insolvency. What sets them apart is their approach to the client.’
‘They are very well experienced and have good commercial/business and practical approach to client’s issues.’
‘Above all, the team at Zimmerman Sierakowski and Partners has a wealth of practice in the application of restructuring law, which translates into highly effective support in the conduct of restructurings. Accordingly, restructuring advice goes beyond standard legal services and includes very practical advice and actions that significantly accelerate the judicial restructuring process.’
Key clients
GO Sport sp. z o.o.
FaktorONE SA
PBG S.A in restructuring and RAFAKO S.A.
Neckermann Polska Biuro Podróży sp. z o.o.
Europoles sp. z o.o
Szpital Powiatowy we Wrześni sp. z o.o.
P1 sp. z o.o.
MKI sp. z o.o.
Care Experts sp. z o.o.
Milo Development sp. z o.o.
Razor sp. z o.o.
Work highlights
- Advising PBG S.A. capital group on a restructuring where the debt value exceeds PLN 12.3bn.
- Advised the court supervisor on arrangement proceedings of Idea Money S.A with its registered office in Warsaw.
- Advised Go Sport Poland sp. z o.o. on the first bankruptcy of the company entered on the list of entities subject to sanctions in connection with Russia’s aggression against Ukraine.
EY Law
The restructuring and insolvency practice at EY Law advises clients on all sides, including companies that are facing financial difficulties, and creditors and investors, as well as state and supranational institutions. A key area of activity for the group is its reformation-focused work of the Polish insolvency and restructuring framework and judicial system, in addition to public aid mechanisms that are designed for entrepreneurs battling financial distress. Practice head and licensed restructuring advisor Magdalena Kasiarz is praised for her ‘excellent quality of work‘.
Practice head(s):
Magdalena Kasiarz
Other key lawyers:
Piotr Podsiadło; Inga Talik; Anna Wiaksa; Karolina Biczyk
Testimonials
‘The EY Team is very approachable and well-known for their attention to detail.’
‘I would like to recommend Magdalena Kasiarz for simply excellent quality of work as well as dedication to projects.’
‘EY Law Restructuring Team stands our from the market because of their solutions-oriented approach and very broad expertise.’
Key clients
Liugong Dressta Machinery
Arriva
JSW Koks
Novatek Green Energy
European Commission, in cooperation with the Ministry of Economic Development and Technology
Work highlights
- Assisted Liugong Dressta Machinery, a machinery producer, with its strategic divestment in the Polish market, involving a distressed M&A deal and the sale of Polish assets to Huta Stalowa Wola, part of the Polska Grupa Zbrojeniowa capital group.
- Advised Arriva, a multinational public transport company, on its distressed M&A deal including sale of its bus business in Poland to Mutares.
- Supported the European Commission, in cooperation with the Ministry of Economic Development and Technology, with a comprehensive analysis of the Polish aid system dedicated to entrepreneurs in financial distress and early warning tools.
Greenberg Traurig Nowakowska-Zimoch Wysokinski Sp. k
Greenberg Traurig Nowakowska-Zimoch Wysokinski Sp. k combines contentious and transactional expertise to provide clients with a comprehensive restructuring and insolvency offering. The multi-disciplinary practice is composed of lawyers with corporate, M&A, finance, and tax expertise, and it represents a wide range of lenders and borrowers in both in and out-of-court restructuring processes. Andrzej Wysokiński chairs the ‘experienced’ department.
Practice head(s):
Andrzej Wysokiński
Other key lawyers:
Michał Bobrzyński; Antoni Libiszowski
Testimonials
‘Highly professional and committed.’
‘Experienced and very diligent, good communicators.’
Key clients
Bank Pekao S.A.
IFA Holding GmbH and its subsidiaries
Work highlights
- Advising Bank Pekao S.A. (as creditor to consortium of PBG, Hydrobudowa and Aprivia) on various matters relating to the restructuring and bankruptcy proceedings of the members of the consortium.
- Advised IFA group and its subsidiaries on all legal matters in connection with the restructuring.
KKLW Legal Kurzynski Wierzbicki sp.k.
The ‘exceptional restructuring and insolvency practice‘ at KKLW Legal Kurzynski Wierzbicki sp.k. is highly adept at handling bankruptcy and restructuring proceedings. Its client roster is broad ranging, and encompasses corporate clients, creditors, debtors, and investors, shareholders and stockholders, receivers, brokers, and banks and employees. Licensed restructuring advisor Przemysław Wierzbicki sits at the helm of the department, which also includes Marcelina Rzepkowska, Krzysztof Wanecki, and Marcin Orzechowski.
Practice head(s):
Przemysław Wierzbicki
Other key lawyers:
Marcelina Rzepkowska; Krzysztof Wanecki; Marcin Orzechowski
Testimonials
‘Exceptional restructuring and insolvency practice.’
‘Constant client contact and understanding of needs at every stage of the case.’
‘Strong knowledge and experience, making the client feel well looked after.’
Key clients
F.B.I. TASBUD S.A.
Development System sp. z o.o.
PKP Polskie Linie Kolejowe S.A.
UNIQA Towarzystwo Ubezpieczeń S.A.
Wiener Towarzystwo Ubezpieczeń Spółka Akcyjna Vienna Insurance Group
Mr Hamburger S.A.
Witmalu sp. z o.o.
Gemipharma sp. z o.o.
Sax Development sp. z o.o.
Alpine Bau GmbH A-1 sp. j in bankrupcy
Work highlights
- Represented Alpine Bau GmbH A-1 sp. j. in bankruptcy proceedings.
- Representing UNIQA Towarzystwo Ubezpieczeń S.A., a Polish insurance company, in the restructuring proceedings of a construction industry debtor.
- Representing Mr Hamburger S.A. in restructuring proceedings.
LSW Bieńkowski, Laskowski, Leśnodorski, Melzacki and Partners sp.k.
LSW Bieńkowski, Laskowski, Leśnodorski, Melzacki and Partners sp.k. boasts a variety of debtors and creditors among its client base, for whom it handles restructuring and insolvency proceedings; these mandates also often involve publicly listed companies. Władysław Bieńkowski leads the practice as its founder, and he is well equipped to handle the recovery of claims, debt collection and bankruptcy proceedings.
Practice head(s):
Władysław Bieńkowski
Other key lawyers:
Bartosz Nowicki
Key clients
Celtic Asset Management Sp. z o.o.
Sunningwell International Polska Sp. z o.o.
SMK INVEST Sp. z o.o.
Michał Lech
Carocelle S.A.
GTL Serwis Sp. z o.o.
GTL RECYKLING Sp. z o.o.
Bremer Group Sp. z o.o.
Endo Medical Sp. z o.o.
Kompania Reklamowa Sp. z o.o.
Olimp-K Sp. z o.o.
Endorfina Events Sp. z o.o.
TOP SEVEN SERVICE Sp. z o.o.
Work highlights
- Advised GTL Serwis on the process of acquiring assets in the steel materials trading industry.
- Advising Sunningwell International Polska Sp. z o.o. on restructuring proceedings due to a difficult economic situation resulting from the negative impact of the COVID-19 pandemic on the operations and revenue of its business, compounded by assuming a lease of the bankrupt ISD Huta Częstochowa Sp. z o.o. production facilities, which were at the time necessary for operations.
- Advising the management board of Carocelle S.A. on bankruptcy proceedings due to the global epidemiological situation.
Soltysinski Kawecki & Szlezak
Soltysinski Kawecki & Szlezak's bankruptcy and restructuring group is a ‘go-to’ choice for businesses in crisis, creditors and investors, holding companies, and banks. The team adeptly handles the entire process of restructuring matters, from selection and development through to implementation. It is also well equipped to handle out-of-court restructurings. Jacek Siński jointly spearheads the practice alongside Lech Giliciński, who joined the firm from Wolf Theiss in October 2023.
Practice head(s):
Jacek Siński; Lech Giliciński
Other key lawyers:
Adam Grzelak
Testimonials
‘SKS is my go-to firm in Poland. They have a very solid team with an enormous experience in all fields of the law. They reputation is very high.’
‘Adam Grzelak is my main contact at the firm. He is extremely experienced in insolvency matters. I enjoy his proactiveness – he always shares the relevant news on time and provides a relevant explanation if needed. I enjoy working with Adam very much.’
Key clients
Anwit
Capital Group ‘Kulczyk’
Galila Trade LP
CA Auto Bank
Leasys Polska
Zimmerli Textil AG
Belle Aire Fragrances Group
Bank of America
Busoco BV
Marcin Skrzypiec
Work highlights
- Representing Anwit sp. z o.o., a shareholder of the Polish development company WAN S.A., in restructuring arrangement proceedings and negotiations with its creditors.
- Represented Galia Trade LP in restructuring proceedings and obtained a court order to the benefit of the client.
- Representing car-sharing company PANEK S.A. in restructuring proceedings.
White & Case M. Studniarek i Wspólnicy - Kancelaria Prawna sp.k.
The financial restructuring and insolvency team at White & Case M. Studniarek i Wspólnicy - Kancelaria Prawna sp.k. boasts ‘extensive experience and a proven track record in handling highly complex transactions’. Its extensive offering encompasses advice on corporate and financial restructuring transactions, support with multi-jurisdictional insolvency proceedings, representation in debtor and creditor-related disputes, and assistance with the restructuring of distressed businesses. Grzegorz Abram chairs the department with notable expertise in debt finance and restructuring mandates.
Practice head(s):
Grzegorz Abram
Other key lawyers:
Marcin Studniarek; Michał Subocz; Paweł Zagórski
Testimonials
‘This practice is distinguished by its extensive experience and a proven track record in handling highly complex transactions. I find the team’s strong business acumen and exceptional negotiation skills particularly valuable, as these qualities consistently lead to favourable outcomes.’
‘They are dedicated to meeting agreed-upon deadlines, which fosters reliability and trustworthiness. Their unique blend of expertise and client-focused strategies positions them as leaders in the field.’
‘They have also introduced innovative approaches in collaboration and technology, which enhance communication and efficiency throughout the transaction process.’
‘Grzegorz Abram stands out for his exceptional qualities and expertise. He is a lawyer with a strong pro-business approach, making him highly effective in navigating complex transactions.’
‘Grzegorz Abram’s excellent negotiation skills and deep understanding of intricate deal structures set him apart from competitors. Grzegorz’s ability to anticipate challenges and find innovative solutions is invaluable.’
Key clients
Credendo
Excess & Surety S.A.
Generali Towarzystwo Ubezpieczeń S.A.
Korporacja Ubezpieczeń Kredytów Eksportowych S.A.
Sopockie Towarzystwo Ubezpieczeń Ergo Hestia S.A.
Powszechny Zakład Ubezpieczeń S.A.
Uniqua
Towarzystwo Ubezpieczeń S.A
Generali Real Estate
JSW Koks S.A.
mBank S.A.
Santander Bank Polska S.A.
BNP
Paribas Bank S.A. No
NextBike GmbH
Tier Mobility GmbH