From the selected decisions made in the corporate sphere in 2017, it follows that higher-level courts are adhering to their existing interpretative practices.
The courts therefore inter alia confirmed the standard of conduct of corporate bodies. The executive director is liable for the proper performance of his office and not for the result of his activity, and in the exercise of his office he has to make use of reasonably available (factual and legal) sources of information and to carefully consider the possible advantages and disadvantages (identifiable risks) of each business decision. Any negative consequences of the decision on the company then cannot be attributed to him.
In addition, the courts held that it is not possible for an extraordinary general meeting held six months after the end of the accounting period to decide on the use of profits according to the financial statements drawn up as at the end of that accounting period.
The courts also concluded that a fine for a breach of the obligation to file a document into the collection of documents can only be imposed if the participant has been informed what obligation he has breached and the penalty he faces as a consequence.
Lastly, it remains clear that an application for registration of a branch in the Commercial Register must be filed by the founder and not by the head of the branch. In addition, the appointment of the head of the branch is effective only upon registration in the Commercial Register, not at the moment of appointment.
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