Our offer

Our offer 2020-11-19T19:08:22+01:00

What is it that we do?

Cadis buys from businesses the receivables arising from invoices issued to contractors who are undergoing insolvency proceedings. The offer is directed to production companies, service providers, and traders who wish to get rid of unwanted and unprofitable receivables.

What kind of receivables do we buy?

We are particularly interested in:

  • receivables owed by bankrupted businesses,
  • between 1 000 and 500 000 PLN in value,
  • in the form of invoices for products or services (e.g. in the commercial sector, construction services, IT services, industrial production).

What does it mean for you as the creditor?

Running a business carries the ever-present risk of encountering an insolvent contractor, whose business simply did not work out and who has been declared bankrupt, either at their own request or at the request of a creditor. Perhaps the cause of their issues is a buyer who stopped paying for products and services provided by them. External factors may also be at fault, like the lockdown implemented due to the Covid-19 pandemic.

By an order of the court – when declaring bankruptcy of a company – the company’s board is replaced by a trustee in bankruptcy who, under the supervision of a bankruptcy judge, handles the company’s assets. The trustee has several procedures to undertake under the bankruptcy legislation. They prepare a list of outstanding accounts (i.e. a list of validated debts), and a property inventory. They then monetise the assets. Simultaneously, they need to divide the creditors into groups by categories. The most preferential creditors are the company’s employees, the State Treasury, and creditors with receivables secured with an entry in the mortgage register. Regular creditors are assigned to the so-called fourth group.

The creditors are divided into groups with the purpose of establishing a precise order of repayments. This means that only after the debts arising from unpaid salaries, taxes, and secured receivables are satisfied, the regular creditors have any hopes of retrieving their money.

Despite the process being relatively straightforward, it tends to take many years to complete. The trustees in bankruptcy are busy with dozens of insolvency cases, including personal bankruptcies. Additionally, the list of creditors and their categories may be appealed by parties to the proceedings, further delaying the process.

Selling the receivables to a specialised company will allow you to finally settle the insolvency matters, much quicker than through waiting for your turn in the repayment queue in the insolvency proceedings. The company stops losing time and energy on dealing with the insolvent contractor, and the owner can stop thinking about retrieving the funds. There will also be no more need to keep spending money on a costly lawyer who spends years dealing with the insolvency case.