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2009 | 12 | 4(45) | 91-100

Article title

ASSETS OF COOPERATIVE BEING LIQUIDATED - PART II (Majatek likwidowanej spóldzielni - czesc druga.)

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After opening of liquidation, the cooperative still remains a legal entity and is in possession of its assets. However, said assets are no longer used in carrying out the cooperative's economic activity, but are completely subordinated to the objective of the liquidation: i.e. satisfaction or securing of interests of the creditors. After satisfying the creditors or securing their interests, members of the cooperative may decide that the assets remaining after the liquidation of the cooperative will be transferred as a contribution in kind onto the commercial law company created on the basis of the cooperative's assets. It is understood that such a commercial operation may take place both already during the liquidation process, as well as after its definitive end. The first method requires complete liquidation (dissolution) of the cooperative - it is the so-called. 'economic transformation' and passes almost simultaneously with the liquidation proceedings. The second method allows for formation of a limited liability company only after the end of the liquidation proceedings based on the assets of the liquidated cooperative. Moreover, after the end of liquidation also the possibility of creating a foundation based on assets remaining after the liquidation of the cooperative should be allowed. It seems that the creation of this entity will be possible only on the basis of a last resolution of the general shareholders meeting, and not on the basis of an independent decision of the liquidator, the may restrict the proprietary rights of the cooperative's members.







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  • Marta Stepnowska-Michaluk, Katolicki Uniwersytet Lubelski Jana Pawla II, al. Raclawickie 14, 20- 950 Lublin, Poland


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Publication order reference


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