Syndics

• Insurance contract conclusion motion.pdf
• Guarantee amount change motion.pdf

Legal basis of obligatory third party insurance of receivers, court supervisors, managers:

1/*The act of 28 February 2003 – Bankruptcy law and reorganization law (Journal of Laws No. 60 item 535 as amended,

2/*The act of 15 June 2007 on Receiver’s License.

3/*The ordinance of 8 October 2007 on obligatory third party insurance of a person appointed to fulfil duties of a receiver,
      court supervisor or manager.

4/*General Agreement

OBJECT OF INSURANCE

AXA Towarzystwo Ubezpieczeń Spółka Akcyjna, hereinafter referred to as AXA, covers by third party insurance coverage of a person appointed to fulfil duties of a receiver, court supervisor or manager for damage caused at fulfilling these duties in compliance with the act – Bankruptcy law and reorganization law. Insurance coverage covers liability of an Insured person for damages caused by prohibited action and resulted from failure to fulfil or inadequate fulfilment of duties. The insurance coverage covers damages caused by the actions or omission of the Insured person or people, for whom this person is responsible.

SCOPE OF INSURANCE COVERAGE

Within the limits of its liability Axa is obliged to:

-*pay claims, that the Insured person is obliged to pay to the claimant on the basis of a recognition made or accepted by AXA,
   a settlement reached or accepted by AXA or a valid court decision,

-*pay necessary costs of defence in the process of criminal proceedings and costs of legal proceedings in civil actions taken at the
   instruction of or upon the consent of AXA, which includes particularly remuneration of lawyers and legal advisors, remuneration
   of experts and witnesses, court costs, other costs of establishing the amount of damage and scope of liability of the Insured person,

-*reimburse costs of measures taken by the Insured person after the occurrence of an Identifiable Accident, in order to prevent from
   the increase of damage, if they were justified by the conditions of the event.

GUARANTEE AMOUNT

Total amount of AXA benefits for all Identifiable Accidents shall not exceed the specified guarantee amount set forth in the policy, notwithstanding the number of people who caused or took part in this event. The guarantee amount is determined in accordance with the highest value of the bankruptcy estate among all bankruptcy proceedings carried out simultaneously by the Insured person. The Insured person is obliged to estimate the value of the bankruptcy estate within 30 days from the date of delivery of the court’s decision regarding the appointment of the receiver, court supervisor, manager. Until the day of estimating the value of the bankruptcy estate, the minimum guarantee amount is obligatory. If, after estimating the value of the bankruptcy estate, there is need of increasing the guarantee amount, than it is assumed that the increased guarantee amount is obligatory from the beginning of the insurance period. The fee for increasing the guarantee amount is charged for the entire insurance period. If within the insurance period the Insured person is called to fulfil the duties of a receiver, court supervisor or manager in next proceedings, in which the value of the bankruptcy estate requires higher minimum guarantee amount, than the Insured person will file a claim on increasing the guarantee amount. The fee for increasing the guarantee amount shall be charged proportionally to the length of the unused insurance period. The guarantee amount is assessed using EURO average exchange rate announced by the Narodowy Bank Polski for the first time in the year, in which the insurance contract was concluded.

THE FEE AND THE BEGINNING OF THE INSURANCE PERIOD

The insurance period begins on a day when the Insured person was called to fulfil the duties of a receiver, court supervisor or manager, under the condition of putting forward an application for insurance within 30 days from the call to fulfil duties.