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Legal market overview
Growing frustration with the waiting game in the Polish energy sector, as the government delays in issuing new guidance, led to the exit of two international energy companies from the market in 2013; Iberdrola and Dong Energy withdrew from the market, with PGE and Energa acquiring the Polish assets of both companies. There has also been a flurry of activity in the private healthcare market, including BUPA’s acquisition of the Lux Med Group, by way of international auction.
This year sees the addition of a Restructuring and insolvency section to the chapter, to cover some of the legal work arising from the country’s ongoing economic challenges. Elsewhere, the Polish dispute resolution market remains buoyant, due in part to continuing difficulties in the construction sector, while the uncertainty created by the changes to the pensions regime has had an impact on stock exchange fundraisings.
In terms of significant lawyer moves, Piotr Gałuszyński left White & Case P. Pietkiewicz, M. Studniarek i Wspólnicy – Kancelaria Prawna sp.k. to head the banking and finance team at Kochanski Zieba Rapala & Partners, with fellow partner Jacek Czabański also joining. Greenberg Traurig Grzesiak sp.k. saw a number of departures, with Paweł Bajno moving to Norton Rose Fulbright, and Piotr Szelenbaum, Maciej Zalewski and Daniel Kaczorowski bolstering the team at White & Case P. Pietkiewicz, M. Studniarek i Wspólnicy – Kancelaria Prawna sp.k..
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Jurisprudence has provided two different decisions in identical case matter, namely the contracting authority's right (or the lack thereof) to disclose information regarded as a trade secret by the economic operator. The regional court in Łódź decided in 2004 that the contracting authority is bound by the economic operator's stipulation regarding confidentiality of some of the information contained in the offer. It may accept it or may reject the offer, but it has no right to disclose it. In 2005 the Supreme Court of the Republic of Poland declared something completely to the contrary in its resolution: the contracting authority has the right to disclose information which does not satisfy statutory conditions of a trade secret. Is the Supreme Court right and does its resolution constitute the final word in this matter? In my opinion, the resolution in fact only raises more doubts.
Since middle of May, a new act on LLP companies is in force in Guernsey, providing unique opportunities for tax planning.
Creation of something out of nothing, based on nothing, guaranteed by no one, persuading people that this something is worth anything - we wonder how much longer it will last and how many people will be worse off because of it.
New rules of statutory warranty bring longer deadlines and significantly alter the buyer's rights.
An employee or job applicant has the right to refuse to provide certain information. For example, a woman doesn't have to admit she is expecting a baby. Neither does she need to reveal what her father or husband does.
Business activity in Poland may be conducted in forms similar to those found in other European countries. Available types of business activity include: 1.1 commercial companies comprising: 1.1.1 corporations (limited liability company and joint-stock company); 1.1.2 partnerships (general partnership, limited liability partnership, limited partnership, limited joint-stock partnership); 1.2 branch offices of a foreign company; 1.3 representative offices of a foreign company; 1.4 individual business activity (also as part of a civil partnership). Cooperatives, associations, foundations and cross-border vehicles such as the European Company, or the European Economic Interest Grouping, which may also be used in conducting business in Poland, are not covered by this study. Read the full study here , prepared at the request of Polish Information and Foreign Investment Agency (PAIiIZ).
The Committee for Preparation of Amendments in the Bankruptcy and Restructuring Law, which was appointed by the Ministry of Justice, has recently prepared guidelines for the bill of a new restructuring law. It should be underlined that restructuring proceedings (often confused with bankruptcy proceedings) concern only entrepreneurs threatened with insolvency, but not yet insolvent, and the purpose of them is to make such entrepreneurs capable of conducting business activity.
Because it has never been clearly defined in any legal regulations, sponsorship can be classified in different ways from the tax point of view.
VEGAS LEX experts discuss Russian roads and PPP projects at the fifth international specialized exhiRoad 2014, the 5th international specialized exhibition and forum held in Moscow earlier this month and attended by VEGAS LEX, focused on effective development mechanisms for Russia's public road system and on legal aspects of public-private partnership projects
The VEGAS LEX law firm has held a seminar, Signing a Concession Agreement: an Insider's Insight , for the staff of Bank of Moscow legal department and business divisions.
Julia Tormagova, head of VEGAS LEX Commercial Group, will speak about trends in the law enforcement practice on the market for pharmaceuticals in 2014.
Popov & Partners Law Office was chosen by Ministry of Finance once again for consultant service of MPopov & Partners Law Office is finishing successfully and before the appointed time, its work on concluded in May 2013 contract with Ministry of Finance for conducting subsequent control of public procurements financed by Operational programme "Administrative capacity". As a result of the quality and effective implementation, in the beginning of September 2014, Ministry of Finance entrusted a second time team of the Law Office for implementing activity for subsequent control of public procurements financed by Operational programme "Administrative capacity", as choose Popov & Partners Law Office for executor of a public procurement. Term of the second contract concluded with Ministry of Finance is until the end October 2015. During its implementation, Popov & Partners Law Office will aim increasing transparency and efficiency in the field of implementation of projects, financed by European social fund, and will contribute for lawful utilizing of funds on Operational programme "Administrative capacity".
Goltsblat BLP , the Russian practice of the leading international law firm Berwin Leighton Paisner (BLP) , is providing the Italian clothing brand TWIN-SET Simona Barbieri with legal support for its entry on to the Russian market, including setting up a joint venture and opening a number of own-brand stores across Russia.
Leading Hungarian law firm, Lakatos, Köves and Partners, has been advising Bayerische Landesbank ("BLB") on the sale of its Hungarian subsidiary MKB Bank Zrt. which closed on Monday 29 September 2014.
Kyiv, 17 October 2014 - AstapovLawyers has advised Lexmark International Technology S.A. (Switzerland) on legal matters pertaining to the signing of distribution agreement with a Ukrainian company. The advice included review and adjustments of the wholesaler contract, drafting arbitration clause and on Ukrainian law matters applicable to the contract.
Zavadetskyi Advocates provided for tax clearance of the transaction for cross-border transfer of the loan portfolio from the balance sheet of the Ukrainian bank to the balance sheet of the UK bank of a Greek banking group. As a result of this work an official tax clarification has been obtained that allowed favorable conditions for the transaction.
Kyiv, 11 August 2014 - Avellum Partners announced that it has acted as the Ukrainian legal counsel to Ferrexpo in connection with the following three export financing credits:
Kyiv, 2 September 2014 – Avellum Partners announced that it has acted as the Ukrainian legal counsel to Ferrexpo in connection with the acquisition of an electrified railway of over two kilometers long and a power line.