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Simple Joint-Stock Company – A New Type of Polish Commercial Company Dedicated (Mostly) to New-Technology Entities

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Zdanikowski P. M.

Review of European and Comparative Law

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2019

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vol. 39

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issue 4

79-97

PL

This article presents a new Polish regulation concerning the simple joint-stock company (Polish: prosta spółka akcyjna; SJSC). It is a legal form of commercial company, dedicated mostly (but not exclusively) to new-technology entities. Its main advantage is the possibility to subscribe shares in exchange for a contribution in the form of work or services provided to the company. This will make it possible for SJSC promoters to attract investors in order to run the enterprise, while maintaining control over the company and excluding personal liability for its obligations. Another characteristic is that the SJSC has no share capital. Even so, the degree of actual protection of company's creditors does not seem lower than that provided by companies supplied with a share capital. This is because the creditors’ interests are secured not only by the obligation to conduct the solvency test before paying out funds to a shareholder, but also by restrictive rules of responsibility of management board members for company's liabilities if the enforcement carried out against the company proves ineffective.

2

Gloss to the Resolution of the Supreme Court of 26 February 2021, III CZP 24/20 [on the Interpretation of the Will]

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Zdanikowski P. M.

Review of European and Comparative Law

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2021

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vol. 47

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issue 4

235-244

EN

The resolution with gloss concerns the rules for interpreting a will. The Supreme Court stated in it that an interpretation of a will should be performed taking into account all circumstances, including those external to the will and using all means of evidence. The Supreme Court decided that it is the court adjudicating in the case for inheritance acquisition, assessing the evidence gathered in a specific case, that should assess whether it is actually possible to establish the will of the testator. The author of the gloss accepts the thesis of the resolution, but argues with the position of the Supreme Court contained in its justification that only the rules for evidence assessment constitute an instrument allowing one to establish the testator’s will. In the opinion of the author of the gloss the functional interpretation of Art. 948 of the Polish Civil Code (k.c.) indicates limits to the interpretation of the will. After all this is a process that renders it possible to determine the testator’s will in a manner that does not raise any doubts. Therefore, if the interpretation of the will of such fails to secure such a degree of certainty, even despite a positive assessment of the evidence gathered in the case, the court should state that the inheritance has been acquired under the Act.

3

Resignation of a shareholder of a simple joint-stock company

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Zdanikowski P. M.

Studia Prawnicze KUL

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2020

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issue 4

159-178

PL

Przedmiotem artykułu jest analiza instytucji ustąpienia akcjonariusza z prostej spółki akcyjnej. Autor uznaje wprowadzenie instytucji przyznającej akcjonariuszowi prawo wyjścia ze spółki za uzasadnione. Może być to bowiem instrument ochrony interesów akcjonariusza (najczęściej mniejszościowego), który z jednej strony jest marginalizowany przez pozostałych akcjonariuszy (najczęściej większościowych), z drugiej zaś strony nie ma możliwości (prawnych lub faktycznych) zbycia swoich akcji, czy to dlatego, że spółka nie zgadza się na to czy to z tego powodu, z uwagi na sytuację w spółce, nie ma na nie popytu. Autor krytycznie jednak ocenia sposób uregulowania instytucji ustąpienia. Uważa, że w obecnym kształcie będzie ona nieefektywna: po pierwsze, z uwagi na wymóg, by powód pozwał wszystkich pozostałych akcjonariuszy. Po drugie, ze względu na zakres kognicji sądu, który jest za wąski. Obecna regulacja może być efektywna jedynie wówczas, gdy spółka dobrowolnie dokona wykupu po przegraniu procesu o ustąpienie. W przeciwnym razie efektywne ustąpienie ze spółki będzie wymagało wytoczenia powództwa o zobowiązanie do złożenia oświadczenia woli, a następnie powództwa o zapłatę. Artykuł zawiera także konkretne propozycje optymalizacji tego przepisu.

EN

The subject matter of the article is the analysis of the institution of the resignation of a shareholder in a simple joint-stock company. The author considers the introduction of an institution granting a shareholder the right to exit the company as justified. It may form an instrument for the protection of interests of shareholder (usually the minority of them), which on the one hand are marginalized by other shareholders (usually the majority), and on the other hand find it impossible (due to legal or actual grounds) to dispose of their shares, regardless of whether the company does not consent it, or there is no demand for them, due to the situation of the company. The author critically assesses the regulation of the institution of resignation. He believes that it will be ineffective in its current form: first, because of the requirement for the petitioner to sue all the remaining shareholders. Secondly, due to the scope of court cognition, which is too narrow, the current regulation can be effective only if the company voluntarily buys out after losing the case in the resignation proceedings. Otherwise, effective resignation from the company will require an action for a commitment to make a declaration of intent, followed by an action for payment. The article also contains specific suggestions for optimizing this provision.

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Simple Joint-Stock Company – A New Type of Polish Commercial Company Dedicated (Mostly) to New-Technology Entities

Gloss to the Resolution of the Supreme Court of 26 February 2021, III CZP 24/20 [on the Interpretation of the Will]

Resignation of a shareholder of a simple joint-stock company