Of 700 companies declared bankrupt last year over 600 might have been 'frauds,' a Polish daily reported on Monday.
According to Dziennik Gazeta Prawna, as quoted by the Polish Radio Foreign Service, about 1,500 companies are expected to go bankrupt in 2010.
"Most of these bankruptcies will be a sham," said Elzbieta Maczynska of the Warsaw School of Economics.
She added that company owners prefer to declare bankruptcy in order not to pay back debts or to pay just a part of their liabilities.
There were also dishonest entrepreneurs who close down companies to seize money of their clients and contractors, the newspaper said.
WARSAW, March 8 (RIA Novosti)
