9
Mar

Important resolution of the Supreme Court regarding manager’s liability

On January 30, 2019, the Supreme Court in the case conducted under reference number III CZP 78/18 passed a resolution important for managers of limited liability companies regarding the application of the provision of Art. 299 of the Code of Commercial Companies in the event of the bankruptcy of the company.

Pursuant to the wording of the resolution, a member of the management board is liable for liabilities of a limited liability company pursuant to art. 299 § 1 of the Code of Commercial Companies created after filing for bankruptcy, including court costs awarded in a case against a trustee, if they are related to the legal relationship existing at the time of filing for bankruptcy.

Therefore, this resolution confirms the broad responsibility of the members of the company’s management board for its obligations. Late submission of an application for bankruptcy may also entail the need to cover future liabilities, including those arising after the trustee was established.