Court declares bankruptcy of Cinkciarz.pl – what’s next?

On October 27, 2025, the District Court in Zielona Góra declared bankruptcy of Cinkciarz.pl sp. z o.o., one of the largest entities on the financial market in Poland.

Creditors have 30 days from the date of the announcement, i.e. until November 26, 2025, to report their claims in the National Debt Register (KRZ) system- after this date, the chances of recovering funds are significantly reduced.

What happened to Cinkciarz.pl?

For years, Cinkciarz.pl was considered a modern company on the financial market- it was a pioneer in the field of online currency exchange, handling transactions in dozens of currencies. The company accured millions in profits annually.

However, the company’s status became questionable when users began to report problems with withdrawing funds and unexplained delays in completing transactions. Media oulets reported the company’s growing financial difficulties, and the Financial Supervision Commission (the financial supervision authority) began to look into the matter.

Over time, it became clear that the company had lost its financial liquidity and was unable to meet its obligations to its customers. For many users, this resulted in significant financial losses, which led to a flood of lawsuits against the company.

What does the bankruptcy of a company entail?

The declaration of bankruptcy of an entrepreneur is the moment when control over his assets passes into the hands of a trustee. The trustee manages all the company’s assets, which from that moment on constitute what’s called the bankruptcy estate- from which creditors will be repaid in the order specified in the bankruptcy law.

Upon declaration of bankruptcy, all court and enforcement proceedings against the company are suspended by law. Creditors can no longer pursue their claims individually, but must join the collective procedure- bankruptcy proceedings.

What steps must creditors take?

Anyone who has claims against Cinkciarz.pl should report their claim in the KRZ system within 30 days of the date of the bankruptcy announcement. The report is made online- via the Ministry of Justice portal.

It should be emphasized that filing a claim in any form other than through the government system has no legal effect. In the case of creditors whose claims have been awarded by a final court ruling (a verdict or a payment order), this ruling will constitute the basis for filing the claim.

A creditor who has not yet obtained a final court ruling should prepare documents confirming the existence of the debt, including transaction history, transfer confirmations, contracts, or correspondence with the company. After the claim has been filed, the trustee verifies it and then creates a list of claims, on the basis of which the company’s assets are distributed.

Although bankruptcy proceedings offer a chance to recover some of the funds, they may not guarantee full repayment- the amount of satisfaction depends on the real value of the company’s assets and the number of creditors.

Late filing – what are the consequences?

Late filing of a claim does not result in automatic rejection, but it significantly weakens the creditor’s position. In practice, this means that such a claim will only be considered after the first stage of the distribution of the bankruptcy estate has been completed, i.e., after the creditors who filed their claims on time have been satisfied.

As a result, those who file late may receive nothing, especially if the company’s assets prove to be small. In addition, late filing results in an obligation to pay an additional filing fee. Therefore, it is crucial not to wait until the last minute and to react immediately after the bankruptcy is announced in the KRZ.

Contact us!

The declaration of bankruptcy of Cinkciarz.pl means that the company’s creditors must take prompt action. Correctly filing a claim is the first extremely important step in the process of recovering dues.

If you are a creditor of Cinkciarz.pl and want to recover your funds, please contact us.
A swift response can significantly increase the chances of successful recovery of funds.