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SPCG Successful for Sobieslaw Zasada Group on Appeal

SPCG Successful for Sobieslaw Zasada Group on Appeal

Poland
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SPCG has persuaded the Court of Appeal in Krakow to uphold the judgment of the lower court in favor of firm client Sobieslaw Zasada Group against a demand to have the plaintiff's compensated for its contribution in kind.

According to SPCG, the claimant was demanding "payment of ... tens of millions of PLN to compensate the claimant's company [for] the missing value of the contribution in kind pursuant to Art 175 of the Polish Commercial Companies Code. The claimant [argued] that the value of the non-cash contribution made to [it] by the defendant shareholder was significantly overstated in terms of its selling value as at the date of adopting a resolution to increase the share capital of the claimant company. In the judgment dated 24 June 2016, the Regional Court in Krakow dismissed the claim."

On April 20, 2017, the Court of Appeal in Krakow then dismissed the appeal of the lower court's judgment, agreeing that the claimant had failed to prove the overstatement of the contribution in kind. According to SPCG, the Court of Appeal also agreed with SPCG's argument that the statute of limitations in claims related to conducting economic activity expires after three years.

The SPCG team was led by Partners Krystian Radłowski and Wawrzyniec Rajchel.

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