To establish a limited liability company, the establishment of a management board is required. All members of the management board are required to sign the application for entry of the company into the register. One of the first obligations of the management board is to report the formation of the company to the appropriate registry court. Remaining a member of the management board involves a number of different duties that the member must fulfill.
Duty to represent the company and manage its affairs
Projects related to the PRS sector (Private Rental Sector) are becoming more and more popular. PRS is an organized form of leasing run by specialized entities for which apartment rental is the main area of business activity.
These companies rent, among others: to a person or persons interested in purchasing real estate, after paying a specified percentage of the real estate value. Depending on the company offering such solutions, the lease length ranges from 2 to 5 years, during which interested entities rent the apartment, for example for 70% of the market rental rate (with an own payment of 30% of the property amount). So, with an own payment of 50% of the property value, the monthly rent of PLN 4,000 will theoretically be reduced to only PLN 2,000 per month.
An important issue in the restructuring process, practical for creditors from the point of view of making decisions in restructuring and bankruptcy proceedings, is the valuation of the assets of the entity subject to restructuring, taking into account individual classes of assets. We may be dealing with a valuation of the entire enterprise or individual components. In Poland, company valuation and the process related to it have not been legally regulated. At the restructuring stage, the bankruptcy trustee or liquidator – depending on the form of proceedings – estimates the components of the bankruptcy estate, and may use experts to that purpose.
Welcome at the webinar prepared by KIELTYKA GLADKOWSKI KG LEGAL in the frames of our iSTART1 concept which combines cross border legal services and networking between European enterprises who need finansing for commercial projects and development in such sectors as, for example, life sciences, biotech, longevity, HR tech, technology, gaming, defence. Elevator pitch is a simple textbook how to persuade potential investor to invest and to enter into a joint venture. The webinar also presents practical hints about the investment contract and crucial clauses that should be included there.
The article prepared by Przemysław Głowacz, KIELTYKA GLADKOWSKI KG LEGAL
Introduction
The concept of whistleblowing has been known for many years. It is the term that refers to the act of calling for help and literally means “blowing the whistle”. It is defined as critical statements, complaints or tips provided by employees – whistleblowers about shortcomings and erroneous behavior in the company towards state institutions or other third parties.
