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Legal market overview
The year under review has been a fruitful for one for firms’ real estate departments, as the level of investment from both Polish and international investors has remained high, with particular interest in retail centres, office buildings and logistics parks. With the market for office space in Warsaw at a premium, investors are increasingly looking at opportunities in Poland’s other major cities.
The new Act on Bonds was introduced in July 2015 and contains several innovations intended to eradicate the problems associated with previous bonds legislation, which were thought to discourage issuances of non-treasury bonds and investment therein.
On the whole, firms have reported a positive year for M&A deals; the only exception to this was in the run up to the Parliamentary elections in October 2015, when several major transactions were put on hold.
The picture is less rosy in relation to the capital markets, with equity specialists in particular finding new instructions harder to come by now that the raft of major privatisations is over. Of the new work that is being generated, some is being snapped up by Mrowiec Fialek i Wspólnicy, a boutique formed in April 2014 by former Allen & Overy, A. Pedzich sp. k. partner Zbigniew Mrowiec.
Other developments included Paweł Pietkiewicz’s departure from White & Case LLP, P. Pietkiewicz, M. Studniarek i Wspólnicy – Kancelaria Prawna sp.k. to join Greenberg Traurig Grzesiak sp. k., and Allen & Overy, A. Pedzich sp. k.’s recruitment of IP specialist Krystyna Szczepanowska-Kozłowska from DLA Piper Wiater sp.k..
Firms in the spotlight
Laszczuk & Partners
Łaszczuk & Partners is a Warsaw-based independent law firm that has been providing legal services to Polish and foreign businesses since 1989. In our work we combine knowledge and experience with creativity and understanding of business needs. We seek to ensure our clients stability and legal security in their operations. Our team of talented lawyers acts quickly, developing optimal, effective and practical legal solutions. Our strength is creation of interdisciplinary teams to solve specific tasks, allowing us to make the most effective use of our lawyers’ knowhow from various fields of law.
Legal Business: country analysis
Breaking new ground – advisers hope shale revolution can restart CEE market
Weighed down by political unrest and slowing economies, energy and infra projects look like one area to be driving
the CEE economy. Can the shale revolution power up
Click here to read the feature.
GC Powerlist -
INSIGHT: Hard graft
the pan-Europe bribery crackdown
As European agencies turn up the heat on bribery and corruption, we team up with Simmons & Simmons to assess how clients are responding.
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By its judgment dated 19 June 2015 entered in the case brought by Jan Rokita against Konrad Kornatowski (former Police Commander in Chief), the Regional Court in Warsaw allowed the claim and rendered unenforceable the 2009 judgment of the Court of Appeal ordering Jan Rokita to make a statement of apology to Konrad Kornatowski in Dziennik newspaper.
On 13 August 2015, the Court of Appeal in Warsaw dismissed in its entirety an action brought by the General Inspectorate for Road Transport against Robert Feluś and Grzegorz Jankowski for publication of a correction to the press release entitled “Libacja inspektorów od radarów ”. The article was published in “Fakt Gazeta Codzienna” on 27 September 2013.
On 26 June 2015, the Regional Court in Warsaw dismissed in its entirety a claim filed by Katarzyna Tusk against Ringier Axel Springer Polska (RASP) represented by Kochański Zięba Rapala & Partners Law Firm.
On 1 October 2015, the Court of Appeal in Warsaw reversed the judgment of the Regional Court in Warsaw announced on 2 February 2015 in the case brought by Marek Falenta against Michał Wodziński (the former editor of Fakt.pl) and dismissed the action for publication, on the fakt.pl portal, of corrections to the following press articles: “Tak żyje kelner od afery taśmowej” (“This Is How the Tape Scandal Waiter Lives”), “Tak ”Król węgla” chciał obalić Tuska?” (“Is This How the ‘Coal King’ Wanted to Overthrow Tusk?”), “Węglowy król: jakie ma haki na premiera?” (“The Coal King: What Does He Have on the Prime Minister?”), “Adwokat Falenty z pluskwą w teczce?” (“Falenta’s Lawyer With a Bug in His Briefcase?”), “Nowa hipoteza: Trio frustratów stoi za taśmami” (“The New Hypothesis: There’s a Trio of Frustrated People Behind the Tapes”), “Tak mieszka król węgla od afery taśmowej” (“This Is How the Tape Scandal Coal King Lives”).
As the modern business services market continues to experience explosive growth in Poland, it is worth keeping in mind the legal issues surrounding practices related to monitoring of employees. The line between lawful and unlawful monitoring practices is at times unclear, and issues of personal data protection also must be kept in mind.
Personal data protection generates a large number of difficulties in the day-to-day activity of service centres. This results from the complicated processes surrounding the processing of personal data in international corporations and the unique nature of the BPO/SSC industry, but also from the restrictive requirements of Polish law regarding personal data.
New minimum wage act sets lowest hourly remuneration for workers at Euro 8.50 from 1 January 2015. This regulation will have crucial impact on undertakings from other countries providing their services in Germany. Foreign employers will have to comply with the new law and pay their employees staying in Germany at least Euro 8.50 per hour.
The practice of entering into double net or triple net lease agreements has become fairly common in the modern commercial property market in Poland. This means that a significant majority of the costs of the upkeep of the leased property are shifted to the tenant.
New rules of statutory warranty bring longer deadlines and significantly alter the buyer's rights.
We are pleased to send you brief description of the main points of the bill of the Renewable Energy Sources (RES) Act, published by the Ministry of the Economy in December, 2011, and its comparison with the current RES support system.
Advertising for pharmaceuticals is impermissible if the content of a promotional statement is not based on sound scientific evidence. That was the verdict of the Oberlandesgericht Koblenz (OLG) [Higher Regional Court of Koblenz].
The European Commission has expanded its proceedings against an internet company on account of possible infringements of antitrust law. The latter is said to have potentially abused its dominant market position.
Family disputes can become deeply entrenched and are then no longer capable of being resolved. This can give rise to the desire to disinherit one’s relatives. For this to happen, a will needs to be prepared.
According to a ruling of the Bundesgerichtshof (BGH), Germany’s Federal Court of Justice, discontinuing life-sustaining measures can render the personal responsible unworthy of inheriting in the absence of a living will (Az.: IV ZR 400/14).
Declarations of discontinuance are a possible consequence of violations of competition law. They can be tied to a condition, but for this to happen strict requirements need to be met.
AKD advises INKEF Capital on the investment in NightBalance- AKD
Enjoying one’s twilight years abroad is a dream that an increasing number of Germans are pursuing. However, it is important to bear in mind that this may affect the distribution of one’s estate.
Everything has its limits, including negotiations concerning a wage increase. As demonstrated by a ruling of the Landesarbeitsgericht Schleswig-Holstein (LAG) [Regional Labour Court of Schleswig-Holstein], these can even end with the dismissal of the employee.
It is particularly easy for disputes to arise in cases involving communities of heirs. Anyone who refuses to accept an official or notarial letter in the context of inheritance disputes may end up drawing the short straw.
Commercial court in Zajecar adopted the PPRP of RTB BOR Group - VALUE OF RESTRUCTURED debt exceeding 1.2 billion EUR