Takeover of the assets of a simple joint-stock company by a designated shareholder

The article concerns a completely new way of terminating the legal existence of a simple joint-stock company in the corporate law, which is the acquisition of the company's assets by its shareholder. The author positively assesses this institution, however, he formulates two basic reservations. First, he questions the correctness of accepting the creditor's substantiation as a negative premise for the takeover of assets. While substantiation may be sufficient at the level of the application for authorization and at the stage of the creditor's objection, it may be ineffective when it is necessary to assess the grounds for taking over after an objection has been raised, i.e. in the event of a dispute as to the fact. This means depriving the court of the possibility of assessing the evidence, and thus actually reducing the effectiveness of the entire regulation. According to the author, doubts may also be raised by the concept of protecting the interests of other shareholders, who are not entitled to object to the takeover, but only have the right to appeal against the resolution. A more effective solution would be to expressly exclude the possibility of appealing against a resolution only due to questioning the value of the repayment and granting shareholders the right to object.

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