Polish property in insolvency estate in the light of the Regulation (EU) 2015/848 of the European Parliament and of the Council of 20 May 2015 on insolvency proceedings
Applicable regulations
The bankruptcy cases are regulated in Poland majorly by the Insolvency Act of 2003 (in Polish: Ustawa z dnia 28 lutego 2003 r. Prawo upadłościowe (t.j. Dz. U. z 2020 r. poz. 1228 z późn. zm.)) (later: ‘Insolvency Act of 2003’). Yet it is not the only applicable regulation. In cases of cross-border bankruptcy proceedings or cases where a Polish citizen is adjudged bankrupt in the territory of the Member State of the European Union or Ireland, the bankruptcy proceedings are regulated by the Regulation (EU) 2015/848 of the European Parliament and of the Council of 20 May 2015 on insolvency proceedings (OJ L 141, 5.6.2015, p. 19-72) (later: ‘Regulation 2015/848’).
