Strengthening corporate governance in light of new legal reforms

KKZ provided comprehensive corporate advisory services to support alignment with recent amendments to the Commercial Companies Code, with a focus on redefining the balance of powers between the management and supervisory boards.

Our Law Firm provided comprehensive assistance to the Client on corporate issues. The most essential matter was the regulation of mutual corporate relations between the management board and the supervisory board, especially in the context of the recent amendment to the Commercial Companies Code.
This amendment introduced a number of new control powers for the supervisory board and strengthened its position as a corporate body. The Law Firm’s task in this regard was, among other things, to prepare appropriate amendments to the company’s existing regulations, but also to create new documents, such as regulations for the election of a supervisory board advisor.
KKZ also prepared for the Client several legal opinions clarifying the wording of the company’s internal regulations, provisions of contracts concluded with members of the management board, as well as changes in commercial law. Evaluation of decisions made by board members in the context of the business judgment rule and possible future liability of members of the management board was one of the key issues considered in the legal opinions.