Consequences of the failure to grant a company permission to sell the shares Cover Image

Skutki braku udzielenia zgody na zbycie udziałów przez spółkę
Consequences of the failure to grant a company permission to sell the shares

Author(s): Monika Antos
Subject(s): Law on Economics, Commercial Law
Published by: Oficyna Wydawnicza KA AFM

Summary/Abstract: The article presents the problem of efficiency of provisions limiting the possibility of selling shares in a limited liability company. The author especially emphasises the cases when such a consent was not given, and/or when the organ obliged to give it undertakes no actions in the area. The article presents the consequences of both refusal to grant a permit before the conclusion of the share sales agreement and after such an agreement has been concluded. Moreover, it distinguishes the situations in which the provisions of the code apply directly, i.e. when the managing board expresses the consent, from the cases where the competency has been transferred to another organ, e.g., the general meeting of the supervisory council. The author believes that, independent of contractual regulations, should the company refuse such a consent, a partner should always retain the right to take a legal action to be awarded such consent.

  • Issue Year: 10/2012
  • Issue No: 1
  • Page Range: 85-97
  • Page Count: 13
  • Language: Polish