Abstract

The issue of legal classification of a loan extended to a shareholding company by its shareholder in a situation of the company’s having been declared bankrupt is of a key practical importance. Although the changes in this filed introduced by the new Restructuring Law, that is first of all so-called legislative subordination clearly inspired by the solutions adopted in Germany, should be considered positive, there are still areas which arouse serious doubts. As regards the subjective scope they are focused primarily on persons whose legal status vis-a-vis the company does not reflect their economic position, the moment significant for defining the status of the company’s shareholder, assignment of receivables towards the company and the receivable owed to the company by the third parties controlling the shareholder. The doctrine and the case law will undoubtedly also have to clarify the meaning of the notion of “another legal act of similar effects” relating to a loan agreement.