Selected issues concerning of conducting of business activityunder the Polish Company Law

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YVES DERAINS

Selected issues concerning of conducting of business activity under the Polish Company Law

Marcin Lech* “A day will come when the nations of this continent, without losing their distinct qualities and glorious individuality, will form part of a broader whole, part of the European fraternity. A day will come when there will be no fields of battle exept markets open to commerce and spirits open to ideas.” (Victor Hugo, addressing the Third International Congress for Peace in Paris, 1849)

I. Introduction to the Polish Company Law The Polish legal system is based on the civil law system developed on the European Continent over a great many years. As with countries such as Germany and France, Poland has codified its law and, as a result, the main sources of its law are statutes, codes, ordinances, constitution and international treaties. The civil law system contrasts sharply with common law, a legal system which relies on case precedent as its main source of law and which is predominant in the United Kingdom and the United States. In recent years, Polish legal system has undergone a through transformation. This process is widely seen for example in Polish business law, especially in company law. The Commercial Code of 1934, which had been in force for almost seventy years, partially repealed in the meantime and updated on many occassions, was at last replaced with the new Code of Commercial Companies of 2000. This new Code came into force on 1 January 2001. One of the

* Lecturer, Faculty of Law, Collegium Iuridicum, Academy of International Political and Economic Relations, Gdynia, Poland (www.wsms.edu.pl). Doctor of Law (University of Vienna, Austria), Master of Law - LL.M. (the Nicolaus Copernicus University, Toruń, Poland), Master of Political Sciences -M.A.(University of Gdańsk, Poland). Alumnus of the Diplomatic Academy of Vienna, Austria. Ordinary member of International Law Association (ILA-Polish Branch) in London. E-mail: marcin.lech2 @ wp.pl

LIMA ARBITRATION N° 3 - 2008 / 2009

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