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The acquisition of a company by the foreigner

According to the ruling of the Supreme Court of 14 November 2014, the target company can't apply for a opening of a supplementary liquidation and appointment a new liquidators after her deregistration from the register, even in situations where the acquiring company was a foreign company, which as a foreigner (within the meaning of the Act on the acquisition of real estates by foreign persons) can't sell the property of the target company, because according to the said law, acquisition of real estate through the acquisition of the company, without the consent of the Minister of the Interior was invalid.

Bearing in mind the decision of the Supreme Court according to the current state of the law the property hasn't got the owner. As in accordance with the Commercial Companies Code the property which belong to target company passed to the acquiring company but in accordance with the Act on the acquisition of real estate by foreign person acquisition of a company was invalid.

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