All rights and obligations of a partner in a partnership in a debt collection clause

Warning: This is an automated translation from Polish. Accuracy may vary.

From January 1, 2020, a debt collection provision may also cover all the rights and obligations of a partner in a partnership. Yes, a debt collection legacy (like other debt collection provisions) should be included in a will drawn up in the form of a notarial deed. The subject of the debt collection legacy is acquired at the moment of opening the inheritance.

It should also be remembered that the effectiveness of such a debt collection provision is influenced by the content of the partnership agreement and the will of the partners

The possibility of a debt collection legatee joining a partnership will therefore be influenced primarily by the content of the partnership agreement and the will of the partners. Pursuant to Art. 10 of the Commercial Companies Code, all rights and obligations of a partner in a partnership may be transferred to another person only if the partnership agreement so provides and only after obtaining the written consent of all other partners, unless the partnership agreement provides otherwise. However, in accordance with Art. 64 of the Commercial Companies Code, despite the death or declaration of bankruptcy of a partner and despite the termination of the partnership agreement by the partner or his creditor, the partnership continues between the remaining partners if the partnership agreement so provides or the remaining partners so decide. Such an agreement should be made immediately in the event of death or declaration of bankruptcy, and in the event of termination – before the expiry of the notice period. Otherwise, the heir, trustee or partner who terminated the partnership agreement, as well as his creditor, may demand liquidation.