Company hopping

By some strange happenstance, it turns out that successive companies taking advantage of gullible customers have the same recurring cast of characters sitting on their governing bodies, or even working in day-to-day roles. Behold the seldom seen company hopper !

Is it possible to incorporate one financial sector company in Poland and then, once it has gone bust, to go ahead and start up another one which is for all intents and purposes identical ?  And then a third one ?  And, once the antitrust authority, the prosecutors, and the media begin sniffing about, a fourth one ?  Yes, by all means.

The Polish state continues to experience grave difficulty in protecting consumers in the financial market, leaving it open to the depredations of dozens – or even hundreds – of these company hoppers. Individuals who open successive, similar businesses on a serial basis, once the most recent one has become insolvent, or become the subject of unwanted attention by the authorities. By design, the new business is in no way better than the previous one (…)

The full text of this article is available in Polish. If you are interested in an English-language version or in discussing the issues raised herein with one of our lawyers, please contact: kontakt@gessel.pl