It turns out that the official register of the Ministry of Justice suggests that Orlen, KGHM and Lotos are at risk of bankruptcy!?
What is the error in the National Court Register?
To understand what the problem is, you first need to explain what the National Court Register is. In the case of companies, the National Court Register is something like an official certificate of existence combined with a certificate of conduct. Good or bad.
There are financial statements or information about who can represent the company.
Anyone who wants to do business with a given company can check it there if it is being pulled over by someone. Or he is not doing business with an insolvent debtor. And if she or he hasn’t checked, the person can only blame him or herself.
Everything is supported by the seriousness of the state and the Ministry of Justice. I entered the KRS numbers of the largest Polish companies in the search engine.
Orlen . The largest company in the country. Revenues approximately PLN 100 billion. “Entries regarding bankruptcy proceedings: YES.”
KGHM. Number six on the list of the largest in the country. Revenues – about PLN 25 billion. “Entries regarding bankruptcy proceedings: YES.”
Lotus. Number 10 on the list of the largest companies in the country. Revenues over PLN 21 billion. “Entries regarding bankruptcy proceedings: YES.”
Destroying the surprise, I would like to add that the answer YES applies to every, literally every company. Small, medium and large.
Marek Niczyporuk, a tax advisor and attorney-at-law from the Ars AEQUI Law Firm, explains that such information occurs if someone checks a given company via the KRS number.
“When searching by REGON, NIP or a name in the field “Entries regarding bankruptcy proceedings’ ‘ the information “NO” appeared” he underlines.
“The problem is, in my opinion, purely technical and results from an IT error. When searching through the National Court Register (KRS) number, the system automatically marks the information “YES” in the field “Entries regarding bankruptcy proceedings” – he explains.
And one could make jokes about it if it were not about the most important register of companies in the country.
“The situation is dangerous for the business, because it is associated with the suspicion that the entity sought has serious financial problems, which justified the start of the bankruptcy procedure” says Marek Niczyporuk.
Theoretically, if someone goes deeper, for a full excerpt from the National Court Register, they will not notice any entries about bankruptcy there.
But the information itself in the search results is worrying. “Especially if the searcher has no experience in economic transactions or is a foreigner” emphasises Niczyporuk.
He found out about the case by accident. The contractor did not want to sign a contract with his client, claiming on the basis of information from the National Court Register (that is, the unfortunate word “YES”) that he was in a bad financial situation.
“It was about a contractor from war-torn Ukraine, who was interested in purchasing a significant amount of goods of significant importance for resolving the humanitarian crisis in this country” says Niczyporuk.
Only the indication that similar search results appear in the case of leading Polish companies, including those with the participation of the state treasury, convinced the contractor that he is establishing cooperation with an entity that has not started bankruptcy proceedings.
In his opinion, disclosure of information suggesting bankruptcy in the National Court Register may have serious consequences. Because it simply reduces the credibility of Polish companies in the eyes of their domestic and foreign contractors. At the very least, it raises additional questions.
Maspex: “It must be some kind of a mistake.”
A journalist send questions to the largest Polish companies.
“Do you know that, according to eKRS, there are entries regarding bankruptcy proceedings against your company? Please have a look at the attachment.”
Maspex, first reaction: “I guess that’s some kind of mistake.” – This is a website error that does not only concern us. We will report it to the ministry – says Dorota Liszka from Maspex.
KGHM: “I looked in the search engine, I also looked at the full excerpt. I do not see such entries, please check” – writes Lidia Marcinkowska, general communication director at KGHM.
“Please search for your company by the number of the National Court Register. And see the column: ‘Entries regarding bankruptcy proceedings’. The information ‘YES’ appears, which suggests that there is information about the bankruptcy of the entity in the National Court Register” – the journalist wrote back.
After a while, the answer: “Searching by name gives a different result, it is difficult for me to say what this information comes from,” wonders Marcinkowska.
He does not answer the next question whether this contradiction does not cause concern in the company. Like the Ministry of Justice, there was complete silience
An employee of a consulting company working in the USA on a daily basis sums up briefly: – It is unlikely that this would happen in the States. Head of IT department for dismissal.
By the time the journalist was finishing the article, the error on the page was still there.
It shows once again that it is important to have professional help when you are doing business in Poland, fx. having a very good accountant and a consultant like myself (Søren Christensen).