Orphaned real estate

In accordance with the judgment of the Supreme Court, dated November 14 2014, the company acquired may not apply for the opening of the winding-up of the subsidiary and the appointment of liquidators after sign out from the register, even when the acquiring company was a foreign company, which as a foreigner (within the meaning of the Act on the acquisition of real estate by foreigners) may not dispose of the property of the company acquired, in a situation when in accordance with the above Act, the acquisition of real estate by acquisition of without the consent of the Minister of Internal Weld was null and void.

Bearing in mind the decision of the Court we are dealing with a situation in which in the current legal status of the property does not have an owner, because in accordance with the provisions of the Code of Commercial Companies, the assets of the company being acquired to the acquiring company, and in accordance with the Act on the acquisition of real estate by foreigners acquiring it was null and void.

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