QUESTIONS AND ANSWERS

If you have any question, please – do not hesitate to contact us. However, we encourage you to read this section where you can find answers to the most frequent questions.

QUESTIONS AND ANSWERS

If you have any question, please – do not hesitate to contact us. However, we encourage you to read this section where you can find answers to the most frequent questions.

1. I’ve read on your website that it is necessary to move the COMI to England. In this case, will I be insured throughout the whole bankruptcy process?
2. I have several credits in different banks and I have not paid instalments for more than half a year. I know that a part of these credits was sold and I have no idea who my creditor is now. What should I do? Can you help me to determine who my creditor is and what the current debt amount is?
3. Will it be possible for me to obtain credit in a Polish bank after the personal bankruptcy?
4. Can I carry out business activity or be the president of a corporation after the bankruptcy process ends?
5. How long do I have to stay in England or Wales after the bankruptcy is declared?
6. Does the bankruptcy declaration involve maintenance?
7. Can I submit the cross-border personal bankruptcy application without having any assets?
8. Is it possible to declare bankruptcy if the assets were seized by the bailiff? What happens with it?
9. Does personal bankruptcy declared in England or Wales apply to debts to the Tax Office and Social Insurance Institution in Poland?
10. Can I apply for bankruptcy in England or Wales as a citizen of Poland?
1. I’ve read on your website that it is necessary to move the COMI to England. In this case, will I be insured throughout the whole bankruptcy process?

Yes. All our Clients are covered by business activity insurance during the bankruptcy process in England and Wales. Additionally, we obtain European Health Insurance Cards (EHIC) for our Clients which gives entitlement to full healthcare as if such a person was insured in Poland.

2. I have several credits in different banks and I have not paid instalments for more than half a year. I know that a part of these credits was sold and I have no idea who my creditor is now. What should I do? Can you help me to determine who my creditor is and what the current debt amount is?

Yes. It is crucial to know as much as possible about all debts in the bankruptcy process. It is vital to understand that only the debts submitted in the personal bankruptcy application will be discharged. If you don’t indicate a debt in the application, it will remain chargeable. Thus, it is very important to have detailed information about who our current creditor is and to know his or her contact details and the debt amount. Within the agreement, our law firm will establish this information through the credit bureau to be sure that all debts will be submitted in the bankruptcy application and therefore, they will be fully discharged.

3. Will it be possible for me to obtain credit in a Polish bank after the personal bankruptcy?

It should be taken into consideration that most credit application forms of Polish banks contain the question: ‘Were you declared bankrupt or have the bankruptcy proceedings taken place?’ If you give inaccurate or false information, you answer on pain of criminal sanctions when filling out the form. Thus, this question should be answered positively and honestly which means that the credit might not be granted.

4. Can I carry out business activity or be the president of a corporation after the bankruptcy process ends?

Yes. Restrictions in this regard exist only during bankruptcy proceedings in England and Wales. When the process is ended, all restrictions finish and there are no obstacles to restart business activity or perform any position in Polish partnerships’ and corporations’ management boards.

5. How long do I have to stay in England or Wales after the bankruptcy is declared?

There is no obligation to stay in England or Wales until the day of completion of bankruptcy proceedings. You can leave the country earlier but you should inform the insolvency practitioner about it by providing the new address and changes in your income and expenses (if there are any).

6. Does the bankruptcy declaration involve maintenance?

No, maintenance is not included as bankruptcy liabilities. This is one of few liabilities to which bankruptcy does not apply.

7. Can I submit the cross-border personal bankruptcy application without having any assets?

Yes. There is a court fee of £685 (as at the date of 1 January 2017) and it is not required to provide any information about where the money is from. It is not required to have any assets for possible fees related to bankruptcy proceedings.

8. Is it possible to declare bankruptcy if the assets were seized by the bailiff? What happens with it?

Seizure by a bailiff does not affect the possibility of declaring cross-border bankruptcy. However, if an effective debt enforcement was carried out by the bailiff before the day of bankruptcy declaration, the assets will be auctioned and destined to pay off liabilities to the creditors. If the enforcement has not been ended, the assets will be managed by the insolvency practitioner and the bailiff will only charge the costs of bailiff proceedings. Seizure of retirement pension or disability pension should be cancelled at the day of bankruptcy declaration.

9. Does personal bankruptcy declared in England or Wales apply to debts to the Tax Office and Social Insurance Institution in Poland?

Yes, cross-border bankruptcy includes all liabilities to the State Treasury. Only liabilities caused as a result of crime are an exception.

10. Can I apply for bankruptcy in England or Wales as a citizen of Poland?

Of course. In accordance with the applicable EU law, any citizen of an EU Member State is entitled to submit the bankruptcy application in any other EU Member State. Thus, English courts require only that Polish citizens move the Centre of Main Interest to Great Britain.

Any questions? Our experts will answer them.

Any questions? Our experts will answer them.