Business&Law » “NEW” LIMITED LIABILITY COMPANIES FINALLY IN POLAND?

By Michał Żołubak, advocate, Siemiątkowski & Davies, Warsaw

[1] The Act dated15th September 2000, Commercial Companies and Partnerships Code (Journal of Laws No. 94, item 1037 as amended).

[2] For the needs of this article the “company” shall mean limited liability company (“spółka z ograniczoną odpowiedzialnością”).

[3] The Assumptions can be found at: http://bip.kprm.gov.pl/kpr/form/r837,Zalozenia-do-projektu-ustawy-o-zamianie-ustawy-Kodeks-spolek-handlowych-oraz-nie.html.

[4] In general the company has to notify the creditors about the planned  decrease of the minimum capital and secure their (even potential) claims. Only  after that the amounts may be returned to the shareholders.

[5] Creation of such type of capital is currently mandatory in regards to the joint stock company (spółka akcyjna).

[6] Similar regulations already exist inFinland,France,Germany and Netherlands.