Effective resignation by a member of the management board of a company is not an easy matter. The First President of the Supreme Court of Poland recently applied for a resolution on the matter by a seven-judge panel of the Supreme Court.
When acquiring shares in a Polish company for a foreign buyer, it must always be examined whether a permit from the Minister of the Interior is required because real estate in Poland is involved. Sometimes a permit is required to acquire even a single share.
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?
The season for annual general meetings is approaching with the deadline for approval of the financial statements of Polish companies. Shareholders need not participate in the meeting personally, but may appoint a proxy. However, the law provides for certain differences in appointment of proxies in listed and unlisted companies.
Practical remarks based on the regulations on the National Court Register and the Polish Classification of Activity.
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.