Supreme Court dismisses claim for early payout of revalued cooperative shares before the five-year statutory protection period expires.
Legislator summary
AI generatedThe Supreme Court of Poland dismissed Piotr B.'s claim for immediate payment of revalued cooperative shares, overturning lower court rulings that allowed early distribution. The plaintiff argued that his membership termination required full settlement, while the defendant contended that the five-year waiting period was essential to protect the cooperative's economic stability. The court ruled that the statute explicitly restricts payout to former members only after five years, thereby preventing them from participating in covering losses with revalued shares.
Legislator headnote
AI generatedArt. 5 ust. 1 ustawy z dnia 30 sierpnia 1991 r. o waloryzacji udziałów członkowskich w spółdzielniach; The five-year prohibition on paying revalued shares to former members applies to all former members to protect the cooperative's economic condition, not just current members.