Posts

Liquidation of the LLC in Poland takes time

Liquidation (dissolution) of a limited liability company in Poland is a relatively lengthy process and requires a number of formal steps.

Since the assets remaining in the company after liquidation cannot be distributed among the shareholders until 6 months after the announcement of liquidation in the official journal, the entire liquidation process usually takes no less than 8 months.

#PolishLegalTips #Liquidation #Dissolution #Company #LLC #Corporate #Law #Code #Commercial #Companies #Poland #WisniewskiLegal

You can subscribe to the #PolishLegalTips weekly newsletter here: https://www.linkedin.com/newsletters/polishlegaltips-6884566282247659520/

Management board’s resolutions in Polish LLCs to be minuted in a specific way #PolishLegalTips

Based on recent amendments of the Polish Commercial Companies Code (KSH) resolutions of the management board (MB) of a limited liability company must be minuted in a specific way so the minutes include the agenda, the names and surnames of the members of the MB present, and the number of votes cast for relevant resolutions.

A dissenting opinion submitted by a member of the MB shall also be marked, along with its motivation, if any.

#PolishLegalTips #Corporate #Law #Companies #Limited #Liability #Company #Management #Board #Minutes #LLC #Poland #WisniewskiLegal

www.wisniewski.legal

You can subscribe to the #PolishLegalTips weekly newsletter here: https://www.linkedin.com/newsletters/polishlegaltips-6884566282247659520/

Seller’s Liability in Polish M&A Transactions #PolishLegalTips

In Polish M&A transactions seller’s liability for representations and warranties included in the share purchase agreement (SPA) is usually based on a guarantee agreement legal concept.

This way the parties to the transaction can set the rules and terms of liability freely and exclude statutory warranty for defects rules.

#PolishLegalTips #M&A #Transactions #Mergers #Acquisitions #Corporate #Share #Purchase #Agreement #SPA #Representations #Warranties #Guarantee #Liability #Law #Poland #WisniewskiLegal

www.wisniewski.legal

Share Purchase Agreements (SPA) in Poland #PolishLegalTips