Introduction

 
 

In many transactions, it is necessary to obtain various types of consents or permits, the lack of which may even affect the validity of the entire transaction. These include resolutions from specific corporate authorities (such as the shareholders’ meeting or the supervisory board), consent of third parties (e.g. creditors), and approvals from relevant government authorities (e.g. the Minister of Interior).

The most frequently encountered types of consents and approvals are discussed below, together with the procedures for obtaining them and the consequences if they are not obtained or are not issued properly.