A new law that comes into force on 30 April 2018 combines two acts regulating the operations of foreign businesses in Poland into one, and at the same time makes certain changes.
The consequences of a transaction falling outside the scope of business specified in the articles of association.
The process leading up to payment of dividends by a company, although highly formalised, is familiar to the players and should not present great difficulties. But it nonetheless requires vigilance, because failure to comply with the statutory requirements can have serious consequences, particularly as it is easy to fall afoul of the changing regulations.
Starting a new business or establishing relations with other businesses always carries with a certain degree of risk. Thus an extensive legal background check of a prospective business partner will usually be advisable. The question is what is the reasonable scope of such a check and what sort of information may be obtained from public sources.
Liability for representations and warranties concerning the condition of the company in a corporate sale
Making false representations about the state of tax liabilities of a company being sold may make it necessary to cover the buyer’s losses, even years after the transaction.
The energy regulator is required to consider the effects of a merger by an industrial user of electricity
The president of the Energy Regulatory Office has withdrawn from imposing sanctions on a company that relied on data for a company acquired in a merger when applying for the status of an industrial user of electricity.