Abstract

The article concerns the possibility of applying a simplified restructuring proceedure to bond issuers. Such procedure was introduced in relation to the outbreak of the pandemic under the Act of 19 June 2020 on interest subsidies to bank loans granted to entrepreneurs affected by the consequences of COVID-19 and on a simplified procedure for approval of an arrangement in connection with the occurrence of COVID-19. Applicability of such procedure to bond issuers arouses doubts due to the fact that the provisions introducing this procedure refer to the provisions on the procedure for approval of an arrangement. The article analyses the simplified restructuring procedure and the procedure for approval of an arrangement in order to assess whether the prohibition on applying the procedure for approval of an arrangement to bond issuers also extends to the simplified restructuring procedure. This issue is of key importance for resolving admissibility of approving an arrangement agreed under the simplified restructuring procedure to bond issuers.