PREFACE... XIX ACKNOWLEDGEMENTS... XXI ABBREVIATIONS... XXIII Chapter 1. COMMERCIAL LAW: DEFINITION, DEVELOPMENT, SCOPE & SOURCES... 1 1. DEFINITION, DEVELOPMENT & SCOPE... 1 2. SOURCES OF COMMERCIAL LAW... 5 Chapter 2. AN ENTREPRENEUR: TO BE OR NOT TO BE... 7 1. OVERVIEW... 8 2. BUSINESS ACTIVITY... 8 3. LEGAL FORMS... 10 4. THE ON ITS OWN BEHALF CRITERION... 11 5. REGISTERED ENTREPRENEUR STATUS... 12 6. COMMERCIAL ENTREPRENEURS AND REGISTERED ENTEREPRENEURS: RELATIONSHIPS... 13 7. DEFINTION OF AN ENTERPRISE... 13 8. AUXILIARY PERSONS OF THE ENTREPRENEUR... 14 8.1. DEPENDANT AUXILIARY PERSONS... 14 8.1.1. PROKURENT... 14 (a) NATURE, CAPACITY & FORMAL REQUIREMENTS... 14 (b) SCOPE... 15 (c) EXPIRY OF PROKURA... 16 8.1.2. PERSONS ACTING IN PLACE OF AN ENTERPRISE... 16 V
8.2. INDEPENDENT AUXILIARY PERSONS... 17 8.2.1. AGENT... 17 (a) Definition... 17 (b) Types of Agents... 17 (c) Duties... 18 (d) Rights... 18 8.2.2. AUTHORISED DEALERS... 19 8.2.3. FRANCHISEE... 19 Chapter 3. BUSNIESS NAME... 21 1. CREATION AND CONTINUED USAGE OF A BUSINESS NAME: RULES... 21 1.1. PRINCIPLE OF BUSINESS NAME HONESTY... 21 1.2. STEADINESS OF THE BUSINESS NAME... 22 1.3. BUSINESS NAME UNITY... 23 1.4. EXCLUSIVITY OF THE BUSINESS NAME... 23 1.5. PUBLICITY PRINCIPLE OF THE BUSINESS NAME... 23 1.6. INALIENABILITY OF THE BUSINESS NAME... 24 2. PROTECTION OF THE BUSINESS NAME... 24 Chapter 4. REGISTRATION OF ENTREPREUNERS: RULES... 27 1. THE POLISH COURT REGISTER... 27 1.1. CENTRAL INFORMATION OFFICE... 27 1.2. STRUCTURE... 28 1.3. REGISTRATION PROCEDURE... 29 1.4. CONSEQUENCES OF REGISTRATION... 30 2. THE BUSINESS ACTIVITY REGISTER... 30 Chapter 5. FORMS OF BUSINESS ORGANISATIONS... 33 I. INTRODUCTION... 33 II. PROPRIETORSHIP... 34 III. PARTNERSHIP LAW... 35 1. THE GENERAL PARTNERSHIP... 35 1.1. CHARACTERISITICS... 35 1.2. FORMATION... 35 1.3. OPERATION... 36 1.4. DISSOLUTION AND LIQUIDATION... 36 2. THE LIMITED PARTNERSHIP... 37 2.1. CHARACTERISTICS... 37 2.2. FORMATION... 38 VI
2.3. OPERATION... 38 2.4. DISSOLUTION AND LIQUIDATION... 39 3. PROFESSIONAL PARTNERSHIP... 39 3.1. CHARACTERISITCS... 39 3.2. FORMATION... 39 3.3. OPERATION... 40 3.4. DISSOLUTION AND LIQUIDATION... 41 4. LIMITED JOINT-STOCK PARTNERSHIP... 41 4.1. CHARACTERISITICS... 41 4.2. FORMATION... 43 4.3. OPERATION... 44 4.4. DISSOLUTION AND LIQUIDATION... 45 IV. COMPANY LAW... 45 1. THE JOINT-STOCK COMPANY... 46 1.1. FORMATION... 46 1.2. SHARES AND BONDS... 48 1.2.1. SHARES... 48 1.2.2. BONDS... 50 1.2.3. DEALINGS AND THE TRANSFORMATION OF THE POLISH CAPITAL MARKET... 50 1.3. OPERATION... 53 1.3.1. THE MANAGEMENT BOARD... 53 1.3.2. THE SUPERVISORY BOARD... 53 1.3.3. THE GENERAL ASSEMBLY... 54 1.4. DISSOLUTION AND LIQUIDATION... 55 1.4.1. DISSOLUTION... 55 1.4.2. LIQUIDATION... 55 2. THE LIMITED LIABILITY COMPANY... 56 2.1. CHARACTERISTICS... 56 2.2. FORMATION... 57 2.3. OPERATION... 58 2.3.1. INTRODUCTION... 58 2.3.2. THE MANAGEMENT BOARD... 58 2.3.3. THE SUPERVISORY BOARD... 60 2.3.4. THE GENERAL MEETING... 61 2.4. DISSOLUTION AND LIQUIDATION... 62 V. SUPRANATIONAL FORMS OF BUSINESS ORGANISATIONS... 63 1. THE EUROPEAN ECONOMIC INTEREST GROUPING... 63 1.1. INITIAL CONSIDERATIONS... 63 1.2. FORMATION... 64 VII
1.3. OPERATION... 65 1.3.1. MANAGEMENT BY MEMBERS... 65 1.3.2. MANAGEMENT BY MANAGERS... 66 1.4. DISSOLUTION... 67 1.4.1. WINDING UP... 67 2. THE EUROPEAN COMPANY (S.E.)... 68 2.1. INTRODUCTION... 68 2.2. ADVANTAGES OF THE EUROPEAN COMPANY... 69 2.3. FIELD OF APPLICABLITY AND LAW GOVERNING THE EUROPEAN COMPANY... 69 2.4. FORMATION PROCESS... 70 2.4.1. MERGERS... 70 2.4.2. FORMATION OF A HOLDING EUROPEAN COMPANY... 72 2.4.3. FORMATION OF A SUBSIDIARY EUROPEAN COMPANY... 73 2.4.4. CONVERTION OF AN EXISTING PUBLIC LIMITED- -LIABILITY COMPANY INTO A EUROPEAN COMPANY... 73 2.5. STRUCTURE OF THE EUROPEAN COMPANY... 74 2.6. WINDING UP AND LIQUIDATION... 75 Chapter 6. FOREIGN ENTITIES DOING BUSINESS IN POLAND: LEGAL ASPECTS... 77 1. LEGAL FRAMEWORK AND DEFINITION OF A FOREIGN ENTREPRENEUR... 77 2. MEANS OF CONDUCTING BUSINESS... 78 2.1. INTRODUCTION... 78 2.2. REPRESENTATIVE OFFICE... 79 2.3. BRANCH... 80 2.4. SUBSIDIARY... 81 3. REGISTRATION REQUIREMENTS... 81 Chapter 7. POLISH INTERNATIONAL CORPORATION LAW: AN EU LAW CONTEXT... 83 I. POLISH INTERNATIONAL CORPORATION LAW... 83 1. GENERAL OBSERVATIONS... 83 2. SEAT THEORY... 84 3. INCORPORATION THEORY... 85 II. EU LAW: FREEDOM OF ESTABLISHMENT... 86 1. FREEDOM OF ESTABLISHMENT: SIGNIFICANCE OF COMPANIES OR FIRMS... 86 1.1. SCOPE OF ARTICLE 43 OF THE TREATY OF ROME... 86 VIII
1.2. SCOPE OF ARTICLE 48 OF THE TREATY OF ROME... 87 1.2.1. COMPANIES OR FIRMS... 88 1.2.2. IN THE SAME WAY TREATMENT... 89 (i) FORMATION OF COMPANIES OR FIRMS IN ACCORDANCE WITH MEMBER STATE LAW...89 (ii) REGISTERED OFFICE, CENTRAL ADMINISTRATION OR PRINCIPAL PLACE OF BUSINESS... 90 (iii) THE RESIDENT CRITERION... 90 2. CONFLICT RULES OF INTERNATIONAL PRIVATE LAW AS GROUNDS FOR CLAIMING FREEDOM OF ESTABLISHMENT... 91 2.1. INITIAL CONSIDERATIONS... 91 2.2. DETERMINATION OF PERSONAL STATUS... 91 2.3. SECONDARY ESTABLISHMENT... 92 2.4. PRIMARY ESTABLISHMENT... 93 2.4.1. RELOCATION FROM A STATE USING THE INCORPORATION THEORY TO ANOTHER STATE USING THE INCORPORATION THEORY... 94 2.4.2. RELOCATION FROM A STATE USING THE SEAT THEORY TO ANOTHER STATE USING THE SEAT THEORY... 95 (i) PROBLEMS INHERENT IN LAWS OF CONFLICT... 95 (ii) PROBLEMS INHERENT IN SUBSTANTIVE LAW... 96 2.4.3. RELOCATION FROM A STATE USING THE INCOR- PORATION THEORY TO A STATE USING THE SEAT THEORY... 98 2.4.4. RELOCATION FROM A STATE USING THE SEAT THEORY TO A STATE USING THE INCORPORATION THEORY... 99 III. CONSISTENCY OF THE SEAT THEORY WITH FREEDOM OF ESTABLISHMENT: JUDICIAL DECISION OF THE EUROPEAN COURT OF JUSTICE... 99 1. INTRODUCTION... 99 2. THE ECJ s DAILY MAIL JUDGEMENT OF 27 SEPTEMBER 1998... 100 3. THE ECJ s CENTROS JUDGEMENT OF 9 MARCH 1999... 101 4. THE ECJ s ÜBERSEERING JUDGEMENT OF 5 NOVEMBER 2002... 103 5. THE ECJ s INSPIRE ART JUDGEMENT OF 30 OCTOBER 2003... 105 IV. CONSEQUENCES OF ECJ JUDGEMENTS FOR POLISH LAW... 107 1. INITIAL CONSIDERATIONS... 107 2. THE REAL SEAT PRINCIPLE AS INCONSISTENT WITH FREEDOM OF ESTABLISHMENT... 108 2.1. MOVING-IN: CASES... 108 2.2. DEPARTURE: CASES... 108 IX
X 2.3. APPLICATION OF POLISH LAW TO FOREIGN COMPANIES RELOCATING THEIR REAL SEAT TO POLAND: SCOPE... 109 2.3.1. BUSINESS NAME REGULATION... 109 2.3.2. LEGAL CAPACITY... 110 2.3.3. MINIMUM CAPITAL... 110 2.3.4. LIABILITY OF DIRECTORS AND SHAREHOLDERS: PROTECTION OF CREDITORS... 111 2.3.5. PROTECTION OF MINIORITY SHAREHOLDERS... 111 2.3.6. CO-DETERMINATION... 112 2.3.7. WINDING UP AND LIQUIDATION... 112 2.3.8. LAW OF TORTS AND CRIMINAL LAW... 112 2.3.9. ABUSE... 113 Chapter 8. CHARACTERISTIC FEATURES OF COMMERCIAL CONTRACTS... 115 I. INTRODUCTION... 115 II. ACCEPTANCE OF A REVOCABLE OFFER... 117 III. PERMISSIBILITY OF ACCEPTANCE OF A MODIFIED OFFER... 118 IV. THE LETTER OF CONFIRMATION... 119 V. EXCLUSION OF THE AD PROBATIONEM FORM... 120 VI. RULES FOR MAKING AN OFFER IN ELECTRONIC FORM... 121 VII. THE CRITERION OF REQUIRED CARE FOR ENTREPRENEURS... 122 VIII. EXCLUSION OF THE REVALUATION PRINCIPAL... 122 IX. CONCLUSION OF CONTRACTS BY USAGE OF DIFFERENT STANDARD FORMS OF CONTRACTS... 123 X. SILENCE AS ASSENT... 124 Chapter 9. PURCHASE AND SALE OF GOODS... 125 I. GENERAL CONTRACTUAL TERMS... 125 1. CHOICE OF LANGUAGE... 126 2. PAYMENT CLAUSE... 127 3. GOVERNMENT APPROVAL CLAUSE... 127 4. ARBITRATION CLAUSE... 128 5. FORCE MAJEURE... 129 6. CHOICE OF LAW AND JURISDICTION... 132 7. PENALTY CLAUSE... 132 II. NATIONAL TERMS OF DELIVERY AND PAYMENT... 133 1. MAIN CHARACTERISTICS OF THE PURCHASER AND SALE AGREEMENT... 133
2. TERMS OF DELIVERY... 133 2.1. GENERAL PROVISIONS... 134 2.2. SPECIFIC PROVISIONS... 134 (a) DEFAULT OF THE PURCHASER... 134 (b) LIABILITY FOR DEFECTS... 135 3. TERMS OF PAYMENT... 136 III. INTERNATIONAL TERMS OF DELIVERY (INCOTERMS)... 137 1. EXW (Ex Works)... 139 1.1. GENERAL CHARACTERISTICS... 139 1.2. EXAMPLES OF SELLER S OBLIGATIONS... 139 1.3. EXAMPLES OF BUYER S OBLIGATIONS... 140 2. FCA (Free Carrier)... 140 2.1. GENERAL CHARACTERISTICS... 140 2.2. EXAMPLES OF SELLER S OBLIGATIONS... 141 2.3. EXAMPLES OF BUYER S OBLIGATIONS... 141 3. FAS (Free Alongside Ship)... 142 3.1. GENERAL CHARACTERISTICS... 142 3.2. EXAMPLES OF SELLER S OBLIGATIONS... 142 3.3. EXAMPLES OF BUYER S OBLIGATIONS... 143 4. FOB (Free On Board)... 143 4.1. GENERAL CHARACTERISTICS... 143 4.2. EXAMPLES OF SELLER S OBLIGATIONS... 143 4.3. EXAMPLES OF BUYER S OBLIGATIONS... 144 5. CFR (Cost and Freight)... 144 5.1. GENERAL CHARACTERISTICS... 144 5.2. EXAMPLES OF SELLER S OBLIGATIONS... 144 5.3. EXAMPLES OF BUYER S OBLIGATIONS... 145 6. CIF (Cost, Insurance and Freight)... 145 6.1. GENERAL CHARACTERISTICS... 145 6.2. EXAMPLES OF SELLER S OBLIGATIONS... 145 6.3. EXAMPLES OF BUYER S OBLIGATIONS... 146 7. CPT (Carriage Paid To)... 146 7.1. GENERAL CHARACTERISTICS... 146 7.2. EXAMPLES OF SELLER S OBLIGATIONS... 147 7.3. EXAMPLES OF BUYER S OBLIGATIONS... 147 8. CIP (Carriage and Insurance Paid to)... 147 8.1. GENERAL CHARACTERISTICS... 147 8.2. EXAMPLES OF SELLER S OBLIGATIONS... 148 8.3. EXAMPLES OF BUYER S OBLIGATIONS... 148 9. DAF (Delivered at Frontier)... 148 9.1. GENERAL CHARACTERISTICS... 148 XI
XII 9.2. EXAMPLES OF SELLER S OBLIGATIONS... 149 9.3. EXAMPLES OF BUYER S OBLIGATIONS... 149 10. DES (Delivered Ex Ship)... 150 10.1. GENERAL CHARACTERISTICS... 150 10.2. EXAMPLES OF SELLER S OBLIGATIONS... 150 10.3. EXAMPLES OF BUYER S OBLIGATIONS... 150 11. DEQ (Delivered Ex Quay)... 151 11.1. GENERAL CHARACTERISTICS... 151 11.2. EXAMPLES OF SELLER S OBLIGATIONS... 151 11.3. EXAMPLES OF BUYER S OBLIGATIONS... 152 12. DDU (Delivered Duty Unpaid)... 152 12.1. GENERAL CHARACTERISTICS... 152 12.2. EXAMPLES OF SELLER S OBLIGATIONS... 153 12.3. EXAMPLES OF BUYER S OBLIGATIONS... 153 13. DDP (Delivered Duty Paid)... 153 13.1. GENERAL CHARACTERISTICS... 153 13.2. EXAMPLES OF SELLER S OBLIGATIONS... 154 13.3. EXAMPLES OF BUYER S OBLIGATIONS... 154 IV. INTERNATIONAL TERMS OF PAYMENT... 155 1, NET CASH CLAUSE... 155 2. CASH AGAINST INVOICE... 156 3. CASH ON DELIVERY / PAY ON DELIVERY... 156 4. CASH AGAINST DOCUMENTS... 156 5. CASH AGAINST A LETTER OF CREDIT OR DOCUMENTS AGAINST A LETTER OF CREDIT... 157 V. INTERNATIONAL PRIVATE LAW... 158 VI. EU LAW AND INTERNATIONAL TREATIES OR CONVENTIONS... 159 VII. UNITED NATIONS CONVENTION ON CONTRACTS FOR THE INTERNATIONAL SALE OF GOODS (1980)... 160 1. INTRODUCTION... 160 2. STRUCTURE AND ESSENTIAL FEATURES... 160 3. CONDITIONS AND SCOPE OF APPLICABLITY... 161 3.1. CONDITIONS OF APPLICABLITY... 161 3.2. SCOPE OF APPLICABLITY... 162 4. GENERAL PROVISIONS... 163 5. OFFER, ACCEPTANCE AND FORMATION OF CONTRACT... 164 6. BASIC LEGAL REMEDIES... 165 6.1. REMEDY TO REQUIRE PERFORMANCE OF ANY OBLIGATION AND RATIFICATION OF SUBSEQUENT DELIVERY... 165 6.2. REMEDY AS RIGHT OF RETENTION... 166
6.3. CLAIMS FOR COMPENSATION... 166 6.4. TERMINATION OF CONTRACT... 167 VII. WORLD TRADE ORGANISATION... 167 Chapter 10. DANGEROUS PRODUCTS LIABILITY... 169 I. GENERAL CHARACTERISTICS... 169 II. PRODUCER... 170 III. PERSONS INJURED... 170 IV. DANGEROUS PRODUCTS... 171 V. SCOPE OF DAMAGE... 172 VI. EXEMPTION OF PRODUCERS FROM LIABLITY... 172 Chapter 11. PURCHASE AND SALE OF IMMOVABLE PROPERTY... 175 I. INITIAL CONSIDERATIONS... 175 II. THE FUNCTION OF LAND REGISTER... 176 III. CONTRACTS FOR THE SALE OF IMMOVABLE PROPERTY... 177 1. CONFLICT OF LAWS: PRINCIPLES... 177 2. FORMAL REQUIREMENTS... 177 3. CONTENTS OF A CONTRACT FOR THE SALE OF IMMOVABLE PROPERTY... 178 3.1. MINIMUM CONTENT... 178 3.2. PARTIES TO A CONTRACT FOR SALE... 179 3.3. OBJECT OF SALE... 180 3.4. PURCHASE PRICE... 180 3.5. HANDING-OVER DATE... 181 4. DEFECTS OF QUALITY AND DEFECTS OF TITLE... 181 5. PURCHASE PRICE AND MEANS OF PROVIDING SECURITY FOR THE PAYMENT... 183 IV. PRIVATE AND PUBLIC RESTRITIONS REGARDING THE PURCHASE OF IMMOVABLE PROPERTY... 185 1. PRIVATE RESTRICTIONS... 185 1.1. INTRODUCTION... 185 1.2. SCOPE OF THE ACT ON THE ACQUISITION OF IMMOVABLE PROPERTY BY FOREIGNERS, 24 MARCH 1920... 185 1.3. APPROVAL FOR THE ACQUISITION OF IMMOVABLE PROPERTY... 186 1.4. EXEMPTIONS... 187 1.5. TREATMENT OF NATIONALS AND ENTREPRENEURS FROM EEA MEMBER STATES... 188 XIII
XIV 2. PUBLIC RESTRICTIONS... 189 2.1. THE ACT ON THE SHAPING OF AGRICULTURE STRUCTURES, 11 APRIL 2003... 190 2.2. THE ACT ON MANAGMENT OF AGRICULTURAL IMMOVABLE PROPERTY OF THE STATE TREASURY, 19 OCTOBER 1991... 191 2.3. THE ACT ON THE MANAGEMENT OF IMMOVABLE PROPERTY, 21 AUGUST 1997... 191 Chapter 12. PURCHASE AND SALE OF AN ENTERPRISE (PRIVATE ACQUISITION)... 193 I. PROCESS OF ACQUISITION OF AN ENTERPRISE... 194 II. ASSET DEAL... 196 1. LEGAL BACKGROUND FOR THE PURCHASE OF AN ENTEPRISE IN THE FORM OF AN ASSET DEAL... 196 1.1. INTRODUCTION... 196 1.2. ARTICLES 55 1 AND 55 2 OF THE CIVIL CODE... 197 1.3. LEGAL BASIS FOR THE PURCHASE OF AN ENTEPRISE... 197 2. WARRANTY CLAUSES IN THE PURCHASE OF AN ENTERPRISE WITH RESPECT TO AN ASSET DEALS... 198 2.1. PRELIMINARY EXPLANATION... 198 2.1.1. DUE DILIGENCE PRIOR TO CLOSING... 198 2.1.2. DUE DILIGENCE AFTER CLOSING... 199 2.2. WARRANTY PROVISIONS... 199 2.2.1. IN GENERAL... 199 2.2.2. DEFECTS IN QUALITY OF AN ENTERPRISE... 200 2.2.3. DEFECTS IN TITLE OF AN ENTERPRISE... 201 2.2.4. DEFECTS OF AN ENTIRE ENTERPRISE AND DEFECTS OF SEPARATE COMPONENTS OF AN ENTEPRISE... 202 2.2.5. EXCLUDING THE SELLER S WARRANTY... 202 2.2.6. BUYER S CLAIMS BASED ON WARRANTY... 203 2.2.7. NOTICE OF DEFECT... 204 2.2.8. CESSATION OF WARRANTY CLAIMS BASED ON DEFECTS IN AN ENTERPRISE... 205 2.2.9. THE CONTRACTUAL MODIFICATION OF A SELLER S LIABILITY FOR DEFECTS IN AN ENTERPRISE... 206 3. CONCEQUENCES OF THE ASSET DEAL TO THE LAW OF EMPLOYMENT... 207 III. A SHARE DEAL... 208 1. LEGAL BACKGROUND FOR THE PURCHASE OF AN ENTEPRISE IN THE FORM OF AN SHARE DEAL... 208
1.1. INTRODUCTION... 208 1.2. LEGAL BASIS... 208 2. WARRANTY CLAUSES IN THE PURCHASE OF AN ENTERPRISE WITH RESPECT TO SHARE DEAL... 209 3. RESTRICTIONS ON SALE OF SHARES/INTREST IN ACCORDANCE WITH PROVISIONS OF COMMERCIAL COMPANIES CODE... 209 3.1. COMPANY LAW... 209 3.2. PARTNERSHIP LAW... 211 4. CONSEQUENCES OF THE SHARE DEAL TO THE LAW OF EMPLOYMENT... 211 IV. SOME LEGAL ASPECTS OF COMPETITION LAW WITH RESPECT TO ASSET AND SHARE DEAL TRANSACTIONS... 212 1. INTRODUCTION... 212 2. NOTIFICATION OF CONCENTRATION... 212 3. EXCEPTIONS OF THE PROPOSED CONCENTRATION... 213 4. POWERS OF DECISIONS OF THE COMPETITION OFFICE... 213 V. ASSET DEAL TRANSACTION AND THE ACQUISITION OF IMMOVABLE PROPERTY... 214 Chapter 13. INSOLVENCY... 215 1. INTRODUCTION...215 2. APPLICABLITY OF THE INSOLVENCY AND REORGANISATION LAW... 216 3. REASONS FOR ANNOUNCEMENT AND REASONS FOR REJECTIONS OF THE ANNOUNCEMENT OF THE INSOLVENCY PROCEEDINGS... 217 3.1. REASONS FOR ANNOUNCEMENT... 217 3.2. REASONS FOR REJECTIONS OF ANNOUNCEMENT... 218 4. REASONS FOR COMMENCING REORGANISATION PROCEEDINGS... 219 5. PROCEEDINGS REGARDING THE ANNOUNCEMENT OF INSOLVENCY AND MAKING DECISION... 219 6. CONSEQUENCES OF THE ANNOUNCEMENT OF INSOLVENCY... 220 7. ORGANS INVOLVED IN THE INSOLVENCY PROCEEDINGS... 222 7.1. CHARACTERISTIC... 222 7.2. COMMON REGULATIONS FOR TRUSTEE, COURT SUPERVISOR, AND ADMINISTRATOR... 222 7.3. FURTHER DUTIES AND POWERS OF THE TRUESTEE... 223 7.4. FURTHER DUTIES AND POWERS OF THE COURT SUPERVISOR... 223 7.5. FURTHER DUTIES AND POWERS OF THE ADMINISTRATOR... 223 XV
XVI 8. PARTICIPANTS IN THE INSOLVENCY PROCEEDINGS... 224 8.1. INSOLVENT DEBTOR... 224 8.2. CREDITORS... 224 8.2.1. DEFINITION... 224 8.2.2. MEETING OF CREDITORS... 225 8.2.3. BOARD OF CREDITORS... 225 9. COMMON REGULATION FOR INSOLVENCY PROCEEDINGS INCLUDING THE COMPOSITION AGREEMENT AND INSOLVENCY PROCEEDINGS INCLUDING LIQUIDATION... 226 9.1. CLAIMS REQUIRED TO BE FILED... 226 9.2. FILING CLAIMS... 227 9.3. LIST OF CLAIMS... 228 10. INSOLVENCY PROCEEDINGS INCLUDING THE COMPOSITION AGREEMENT... 228 10.1. CLAIMS INCLUDED IN THE COMPOSITION... 229 10.2. CONTENT OF THE COMPOSITION... 229 10.3. PROCEEDINGS REGARDING THE CONCLUDING OF THE COMPOSTION... 230 11. INSOLVENCY PROCEEDINGS INCLUDING THE LIQUIDATION PROCEEDINGS... 231 12. REORGANISATION PROCEEDINGS... 232 12.1. CHARACTERISTIC AND PURPOSE... 232 12.2. COMMENCEMENT OF THE REORGANISATION PROCEEDINGS AND THE REORGANISATON PLAN... 232 12.3. LEGAL CONSEQUENCES OF THE INITIATION OF REORGANSIATON PROCEEDINGS... 233 12.4. COMPOSITION WITH CREDITORS... 233 Chapter 14. ARBITRATION LEGISLATION... 235 1. GENERAL PROVISIONS... 235 1.1. SCOPE OF APPLICATION... 235 1.2. SCOPE OF ISSUES SUBMITTED TO THE ARBITRATION PROCESS (ARBITRABILITY)... 236 1.3. RECEIPT OF WRTITTEN COMMUNICATION... 237 2. ARBITRATION AGREEMENT... 237 2.1. DEFINITION... 237 2.2. KINDS OF ARBITRATION COURTS... 238 2.3. FROM OF THE ARBITRATION AGREEMENT... 238 3. COMPOSITION AND JURISDICTION OF THE ARBITRATION COURT... 239 3.1. NUMBER OF ARBITRATORS... 239 3.2. APPOINTMENT OF ARBITRATORS... 239
4. JURISDICTION OF THE ARBITRATION COURT... 240 5. CONDUCT OF ARBITRATION PROCEDDINGS... 241 5.1. GENERAL RULES OF PROCEEDINGS... 241 5.2. PLACE AND COMMENCEMENT OF ARBITRATION PROCEEDINGS... 241 5.3. LANGUAGE AND COURSE OF PROCEEDINGS... 241 6. THE AWARD AND TERMINATION OF PROCEEDINGS... 242 7. JUDICAL REVIEW OF ARBITRATION ISSUES... 243 INDEX... 245 REFERENCES... 251 XVII