Shareholder loans under the amended Bankruptcy Law
Systemic amendments to Poland’s Bankruptcy & Recovery Law enter into force on 1 January 2016.
One resolution, many doubts
The Supreme Court has ruled that it is impermissible to issue a commercial proxy to one person allowing the proxy to act only jointly with a member of the management board. What does this ruling mean for companies that have already issued such proxies?
Internal investigations: An alternative for law enforcement authorities?
Internal investigations conducted by enterprises in-house when irregularities are suspected offer many advantages to businesses compared to initiatives undertaken by public law enforcement authorities.
When the management board does not function properly
The Commercial Companies Code provides an extensive set of rules governing internal controls in Polish companies, from the general rules for conducting and controlling the company’s affairs by the management board to oversight of the management board’s actions.
Protection of personal data in internal investigations
Poland’s data protection regulations do not directly address internal investigations, but that does not mean they do not apply. In fact they can play a major role in drawing the line between lawful and unlawful investigative measures.
In some industries internal investigations are already standard
Internal investigations are becoming increasingly common, but individuals who face consequences as a result may attempt to undermine the findings or challenge the procedures followed in the investigation — including through seeking the protection of the courts.
Specification of the subject of the company’s business in the register
Practical remarks based on the regulations on the National Court Register and the Polish Classification of Activity.
More flexibility for firms: January amendments to the Commercial Companies Code and other acts
Some of the provisions amending the Commercial Companies Code and other acts went into force on 15 January 2015, mainly concerning establishing and operation of a business in the form of a registered partnership, a limited partnership or a limited-liability company.
No-par shares in limited-liability companies in bill to amend the Commercial Companies Code
The government plans revolutionary changes in the asset structure of limited-liability companies to go into effect 1 January 2015.
The death of a member: Uncertain fate of a registered partnership with heirs involved
When a member of a partnership dies, it can have serious legal consequences for the future existence of the firm. Depending on the type of partnership, the death of a partner may even result in dissolution of the partnership.
Can management board members be appointed retroactively?
If members of the management board are not reappointed for another term, the company does not have a properly constituted representative body. This can affect the validity and effectiveness of actions taken for the company.
Corporate restructuring and creditors’ involvement in debtor’s corporate structure
Participation in the authorities of debtor companies gives creditors a greater assurance that restructuring programmes will be properly implemented, but also entails certain burdens, risks and obligations.