Deadline for filing a petition in bankruptcy and the so-called Anti-Crisis Shield 2.0

Released was (for the time being – unofficially) a governmental bill amending the Act on Extraordinary Measures for Preventing, Counteracting and Combating COVID-19, other Infectious Diseases and Emergencies Caused by Them and Certain Other Acts (the so-called “Anti-Crisis Shield 2.0”).

The above-mentioned bill introduces, among others, changes in the scope of deadlines for filing a petition in bankruptcy, regulated by the Bankruptcy Law of 28 February 2003.

In the current legal status, the debtor is required to file a petition in bankruptcy with the court no later than within 30 days from the date on which the basis for the declaration of bankruptcy occurred.

The proposed provisions of the so-called Anti-Crisis Shield 2.0 change the above principle as follows:

  • during the state of epidemiological emergency or the state of epidemic declared due to COVID-19, the above-mentioned period for filing a petition in bankruptcy does not start and if started – it is interrupted; after a relevant state is lifted, the period runs anew;
  • if the basis for declaring the debtor bankrupt arose during the state of epidemic emergency or the state of epidemic declared due to COVID-19, and the reason for insolvency was COVID-19, the period for filing a petition in bankruptcy is 3 months from the date of cancellation of the state of epidemics declared due to COVID-19. The proposed Anti-Crisis Shield 2.0 introduces a presumption that if the state of insolvency occurred during the state of epidemiological emergency or the state of epidemic declared due to COVID-19, it was caused by COVID-19;
  • if the deadline for filing a petition in bankruptcy is determined on the grounds of the above provisions, the petition in bankruptcy is filed by the debtor by an applicable deadline and no other petition in bankruptcy has been filed so far, deadlines, for whose calculation the date of filing a petition in bankruptcy is relevant, are extended accordingly.

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If we could provide you with our legal support in this scope, please do not hesitate to contact us.