Pursuant to the resolution of the Supreme Court of October 22, 2010 (court file no. III CZP 69/10), a sale agreement on perpetual usufructuary right to land and ownership of buildings constructed on that land which has been concluded between a capital company and its proxy as a buyer, and under which the sale price has been significantly decreased, is an other similar agreement under Article 15 § 1 of the Commercial Companies Code. In practice, it means that the consent of the shareholders’ meeting or general assembly is required for the Company to conclude such an agreement.

Contact person: Monika Proskura, mpr@pnplaw.pl