There have been re-introduced proceedings in commercial cases to the Polish civil procedure which may be particularly of importance to cases with cross border element.
The great amendment of the Polish Code of Civil Procedure means, among other things, a return to a separately regulated commercial procedure. The legislator’s assumption is simple – greater rigor for the parties and faster verdicts, which are to adapt the court procedure to the realities of the market of professional entities conducting business activity.
The provisions regulating commercial proceedings should be applied in litigation commercial cases. Regulations concerning other separate proceedings should be applied only if they are not inconsistent with commercial proceedings. The exceptions are the European order for payment procedure, the European Small Claims Procedure and the electronic order for payment procedure.
Commercial case:
Commercial cases are as follows:
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On October 13, 2022, there will enter into force changes to the Polish Commercial Companies Code, which will have influence on corporations operating in Poland, particularly from the perspective of holding law, regulations increasing the powers of supervisory boards and imposing additional obligations on the management boards of capital companies. The changes are introduced by the latest amendment to the Polish Code of Commercial Companies and Partnerships of February 9, 2022, published on April 12 in the Journal of Laws (Journal of Laws, item 807).
The changes contained in the amendment are important both for the owners of entities (shareholders), as well as for members of supervisory boards and members of management boards.
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Activities in the area of Risk Management and Compliance have recently assumed exceptional importance. This is due not only to internal company regulations, but also to the constantly tightening regulations on transactions with related parties, including those from tax havens or from outside the EU, control of final beneficiaries or the obligation to verify the credibility of the counterparty. Not only for the purposes of security of receipt of payment, but also to ensure that VAT is correctly accounted for.
Why is it important to know your counterparty?
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We are entering 2022 by fighting on at least two fronts: the still present pandemic and sanctions disrupting the current global economy. This could not but have had an impact on the international investment market, which is now facing a difficult challenge.
For many years, the world’s most popular emerging markets have been the so-called BRICS: Brazil, Russia, India, China and South Africa. But given that Russia is no longer a market that Westerners can access following the invasion of Ukraine, it might be time for investors to stop lumping all of the emerging markets together.
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As world leaders endorse climate goals like reaching net-zero greenhouse-gas emissions within the next 30 years, companies are pushing to move their projects from research and development to commercial phases. The net-zero objective—balancing emissions produced and emissions removed from the atmosphere—has spurred growth in the business of sustainable energy, which generates fewer emissions than fossil fuels. Some of these possibilities, like satellites that can wirelessly beam down solar energy from orbit, remain experimental, while others, like underwater turbines that harness tidal movements, have progressed from prototypes to commercial demonstrations. What are the newest developments in generating power from the sun, water, air and Earth?
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