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Dr Piotr Kuźnicki
ORCID: 0000-0001-5458-5487

Attorney at law, Doctor of Law, assistant professor at the SWPS University, a graduate of the University of Warsaw and Berkeley Law School.

 
DOI: 10.33226/0137-5490.2023.6.3
JEL: K15

The article analyzes the amendment to the Polish Commercial Code, which allegedly introduces the concept of business judgment rule to the Polish legal system. In the author's opinion, the amendment raises several reservations because the new regulations still do not introduce the presumption of lack of directors' fault. Therefore, the amendment does not create a safe harbor for directors who still have to defend themselves against the accusation that they did not act diligently and in the company's interest. In addition, the amendment may erroneously cause directors to seek advisors' opinions that cover every business decision. Finally, the amendment does not resolve an important issue related to the functioning of the concept of business judgment rule in the event of a conflict of interest.

Keywords: directors' liability; business judgment rule; due care; conflict of interest