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Dr hab. Artur Nowacki
ORCID: 0000-0003-0513-115X

Professor at the Department of Commercial Law at the Faculty of Law and Administration of the University of Warsaw and legal adviser in Warsaw.

 
DOI: 10.33226/0137-5490.2023.1.3
JEL: K29

The article deals with analysis of Art. 129 of the Polish Insolvency Law regulating ineffectiveness towards the insolvency estate – in circumstances defined therein – of the remuneration of a manager or member of a supervisory board of the insolvent debt. Article claims, among others, that Art. 129 of the Insolvency Law, different than Art. 185.4 of the Insolvency Law, concerns only remuneration awarded prior to insolvency, whereas Art. 129.1 first sentence of the Insolvency Law such remuneration for the period prior to declaration of insolvency, while Art. 129.1 second sentence of the Insolvency Law such remuneration for the period following declaration of insolvency (although awarded prior to declaration of insolvency). The purpose of Art. 129 of the Insolvency Law is not to sanction actions detrimental to the insolvency estate, but to ensure economic consequences of insolvency are shared in a just way and therefore shared also by very important stakeholders that are nowadays managers and members of the supervisory bodies of the insolvent debtor. This interpretation heavily impacts on solving a number of interpretation issues posed by the wording of Art. 129 of the Insolvency Law.

Keywords: insolvency; remuneration; ineffectiveness; manager