- Funding Programme
- Year
- 2021
Support to Strengthen the Monitoring of Financial Distress in Poland
The aim of the Project was to develop a framework for a support system and early warning mechanisms for Polish entrepreneurs. During the Project, optimal and effective solutions for the New Chance Policy were developed. The beneficiary of the Project is the Polish Ministry of Development and Technology.
Context
The Project was carried out by EY Law on behalf of the DG REFORM, as the Ministry of
Development and Technology on behalf of Poland had requested support under the TSI
Regulation. The Project fulfills two EU priorities: (1) a Europe fit for the digital age, and (2) an economy that works for people.
Support delivered
From December 2021 to March 2023, seven reports (Deliverables) were prepared as part of the Project and, in cooperation with the Ministry of Development and Technology, 6 workshops were conducted with stakeholders to receive feedback on the recommendations proposed under each Deliverable.
Results achieved
The activities undertaken during the Project were intended to achieve two primary goals: (i) to help create a new legal framework for entrepreneurs facing financial difficulties, and (ii) to support the development of a new second-chance policy (to enable business restarts). The deliverables should contribute in the long run to: (i) more effective detection and monitoring of financial distress in Poland and counseling for entrepreneurs in financial distress, as well as (ii) an increase in the number of companies that, despite finding themselves in a difficult situation, continue to operate with their debts restructured.
More about the project
You can read the documents related to the project here: