A guarantee agreement is the most widely accepted and common basis for a number of solutions used in M&A transactions. Therefore, its correct application is of fundamental importance for this practice. Meanwhile, judgments issued in recent years by the Supreme Court of Poland on the nature and normative sources of such obligations have caused doctrinal controversies and uncertainty among trade participants. It is therefore worth briefly summarising where the case law stands and the conclusions that can be drawn from it.
A bill currently being processed by the Sejm significantly limits the right of a management board member to resign from office at any time.
As of 1 October 2018, companies will no longer prepare paper financial statements. After more than six months of implementation of the new regulations, we can make an initial assessment of their application in practice.
The proposed Act on Succession Management in Sole Proprietorships will offer new solutions for business owners. It is intended to allow the heirs to continue operating an individual business after the owner’s death.
A gap in legal provisions might mean criminal liability for management board members for not filing financial statements on time.
Amendments to the National Court Register Act which came into force on 15 March 2018 make it compulsory to register addresses for correspondence of persons associated with Polish companies with the National Court Register.