Abstract

An entry in the land and mortgage register of a warning that the restructuring proceedings are underway, unlike an entry therein of information that an arrangement has been approved, annuls the principle of public credibility of land and mortgage registers. It effects from Art. 8 of the Act on Land and Mortgage Registers of 6 July 1982, in which a warning is mentioned. Therefore, it may be stated that protection offered by entering into the land and mortgage register of a warning that restructuring proceedings are carried out is much broader than entering of information that an arrangement has been approved under Art. of 169 .1 of the Restructuring Law of 15 May 2015. Above all, protection of legal interests provided by entering of a warning starts upon the opening of the restructuring proceedings under the accelerated arrangement procedure, arrangement procedure and rehabilitation procedure pursuant to Art. of 234.1, Art. of 271.1 and Art. 288.2 of the Restructuring Law. This refers to the case when a court supervisor or an administrator have been appointed. On the other hand, protection of legal interests under an entry of information that an arrangement has been approved starts at a later stage of the restructuring proceedings, namely when the decision on approving the arrangement, provided for in Art. 164.1 of the Restructuring Law, on the basis of which said information is entered into the land and mortgage register, becomes final.