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Clifford Chance

Clifford Chance


Coronavirus: Enabling the holding of remote meetings of bondholders in Poland

13 May 2020

The coronavirus epidemic has forced lawmakers to verify the legal solutions used to date and to adapt the mechanisms thereof to the currently prevailing conditions. In particular, in light of the prohibition of assemblies introduced by way of the Ordinance of the Council of Ministers of 19 April 2020 on the Introduction of Specific Restrictions, Orders and Prohibitions on Account of the Occurrence of a State of Epidemic (Journal of Laws of 2020, item 697) (the "Ordinance on Restrictions")1 the holding of face-to-face meetings of various company bodies (management boards, supervisory boards, shareholders' meetings) as well as other specific bodies (bondholders' meetings) in a classical manner has turned out to be difficult, if not impossible. The above also applies to bondholders' meetings as provided for in the Act on Bonds of 15 January 2015 (Journal of Laws of 2018, item 483) (the "Act on Bonds").

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