In Polish Liability of board members of a limited liability company in Poland The members of the management board of a limited liability company may be liable for the obligations of the company under article 299 of the Code of Commercial Companies. This liability is subsidiary. This means that a board member can be held…
For Polish Why a limited liability company? The limited liability company is the most popular form of conducting business in Poland. This is hardly surprising. This business form allows for the limitation of the entrepreneur’s financial liability (the partner is not liable with his/her private assets), can be established with a low financial outlay (the…
Changes on the economic market, deterioration of the financial situation or new investments often force a limited liability company to raise additional funds. The Polish Commercial Companies Code provides such a possibility in the form of additional contributions from the shareholders. This is an instrument beneficial to the company in a situation where it does…