The Polish Commercial Companies Code has been recently subject to several amendments. For instance, the recent reforms provided for internet registration of a limited liability company (LLC) as well as enabled transformation of individual commercial activity into LLC (Polish: spółka z ograniczoną odpowiedzialnością) or a joint stock company (Polish: spółka akcyjna). Share capital reform During 2011, there was a lot of discussion about another reform of Polish corporate law. The Polish Civil Law Codifying Commission […]
Contrary to the situation in respect of a partnership, the beauty of forming a capital company is the limitation of shareholders’ financial liability for such company’s debts. As a rule, the shareholders’ entire financial risk is limited to the amount of the committed funds. In various legal systems, there are certain exceptions to this rule, commonly referred to as “piercing of the corporate veil”. What about Poland? In Poland, there are two types of […]