Maintaining and storing Polish company accounts outside Poland
Under recently amended provisions of the Polish Accountancy Act, authorised entities outside Poland may maintain and store accounts of Polish companies—but only in compliance with Polish accounting requirements.
What may a fund do as a shareholder of a public company?
Statutory restrictions on participation of open investment funds in joint-stock companies should be interpreted narrowly. Restrictions on voting rights do not limit the exercise of other share rights.
Company must be notified of acquisition of shares
The transaction of acquiring shares in a limited-liability company typically ends upon signing of the share sale agreement, but the acquirer’s duties do not end there.
Rules for repayment of surcharges in a limited-liability company
The articles of association may include provisions covering the rules for repayment of surcharges to the shareholders. Absent such provisions, the rules set forth in the Commercial Companies Code will apply.
Easier to file for bankruptcy
An amendment to the Polish Bankruptcy Law went into effect on 22 December 2010, giving debtors a chance to supplement deficient bankruptcy petitions while maintaining the original filing date.
Non-discrimination also applies to management board members
A member of a company management board may be regarded as an employee within the meaning of Council Directive 92/85 EEC of 19 October 1992. Removal of a pregnant woman from the management board may thus be successfully challenged as discriminatory.
When is the management board of a limited-liability company liable for the company's debts?
The rules for liability of members of the management board of a Polish limited-liability company (sp. z o.o.) when the company is unable to meet its obligations to creditors are explained by Maciej Szewczyk, a legal adviser trainee
Share register serves a real purpose
Maintaining a share register in a limited-liability company is not just mandatory, but can also prove valuable.
Danuta Pajewska: Transparency of the capital market is fundamental
Interview with Danuta Pajewska, senior partner at Wardyński & Partners and head of the Capital Markets practice group.
Fines for violating reporting requirements when buying shares of listed companies
The Polish Financial Supervision Authority has fined a couple PLN 200,000 for acquiring shares in a listed company over the 10% threshold without announcing a public tender.
Errors most often caused by carelessness or simple routine
Łukasz Koziński of the Corporate Law practice group at Wardyński & Partners reviews the rules for conducting annual shareholder meetings.
What does the National Court Register tell us?
Bartłomiej Wyjatek of the Corporate Law practice group at Wardyński & Partners explains how the court register protects the interests of participants in commercial transactions.