Dr Anna Szepietowska – GC Powerlist
GC Powerlist Logo
Central and Eastern Europe 2019

Industrials and real estate

Dr Anna Szepietowska

General counsel | Poland Sotheby’s International Realty

Download

Central and Eastern Europe 2019

legal500.com/gc-powerlist/

Recommended Individual

Dr Anna Szepietowska

General counsel | Poland Sotheby’s International Realty

About

What are the characteristics of important transactions that you have been involved in during the last two years?

The transaction model in the real estate market is changing into a multilevel process. No investors are expecting a theoretical legal assessment separated from the comprehensive undertaking. The examples of such an undertaking are the acquisition of the plot of land for building purposes by a developer, the sale of an organised part of an enterprise comprising functioning hotel or the lease agreement for an embassy’s seat. A general counsel should cooperate with all consulting teams in an agile way, including with architects, designers and technical engineers, have sound business judgment and present effective and practical solutions.

How important have “soft skills” or personal attributes outside of technical legal skill been to the team’s success, and which “soft skills” do you feel are most important for an in-house lawyer to possess?

I always underline two non-legal skills. First are communicational skills, as expert knowledge requires the ability to share it. These skills let us address tasks and cooperate with all levels of the organisation. Moreover, I am of the opinion that the general counsel should be an active participant in negotiations, instead of being a passive observer. Secondly, to handle multiple priorities, organisational and management skills are significant.

Law and management education notably complement each other for a team leader. That’s why I hold not only the degree of doctor of juridical science, but also two postgraduate diplomas in project management and management on the market of luxury goods and brands.

What are the main qualities you look for in a potential new hire?

The main quality I appreciate in any work team and from any investor I work for is a chance to deliver business oriented solutions without losing legal independence. Furthermore, initiatives such as Black Swan Fund, Business Women Lodge by PwC and Women in Law are really close to my legal heart. As a female professional I wish the values and the whole culture promoted by said initiatives were present in day-to-day business. The legal profession should be the exemplar of women’s unity and
Solidarity.

 

What advice would you give to any peers or colleagues working in the Polish market for the first time?

What I find useful as a word of advice for colleagues working for the first time in my country is to bear in mind the general characteristic of the local clients, who are resourceful, independent, exigent, and focused on results.


FOCUS ON… CROSS-BORDER REAL ESTATE

Cross-border real estate trading – a review 10 years after the CROBECO programme.

The number of activities and documents carried out and obtained online increases every year. No one can currently imagine purchasing products, especially from international chain stores, without technological improvements, electronic invoices or banking payments. A similar process, but on a smaller scale, can be observed in the legal environment of immovable trade. International transactions point to the fact that there are as many applicable realty regulations as countries, and despite strong differences in law, there are some internal and transnational initiatives facilitating access to realty databases. In the vast majority of countries in the CEE region, the counterparts of Polish electronic land and mortgage registers (EKW) are already available in online versions. Thereby the countries in our region meet the dynamic market expectations, technological development and Europe’s intensified mobility. A great example is the cadastral information system in Latvia, where all entries are made digitally and the national register already covers the entire Latvian territory.

Among the international initiatives to facilitate cross-border trading, one should mention European Land Information Service (EULIS) and European Land Registry Association (ELRA). The most innovative ELRA projects are: European Land Registry Network, Interoperability Model for Land Registers and Cross Border E-Conveyancing (CROBECO). Under the CROBECO transaction both the notarial deed and the application for entry in the land and mortgage register were made using electronic means. It is 10 years since the implementation of CROBECO programme, and that first transaction should be recognised as symbolic and an important step in the global long-term change process.

The facilitated access to documents does not guarantee a proper assessment of the legal status of realty. The documents are not only issued in a foreign language, but they also confirm easements, encumbrances or pre-emption rights according to foreign law. An excellent example that renders translation difficulties is perpetual usufruct existing in the Polish legal system, as the real property right established on the land owned by the State Treasury or by local government unit for the long term.

Observing the differences between international trade on real property and personal property is very interesting from the legal service perspective. 90% of Polish customers have already purchased foreign commodities via the internet. More than a half of them conclude such transactions every month. On the other hand, the potential and attractiveness of real estate as an asset is growing dynamically in the CEE region. Only in Poland immovable sales amount to over PLN100m annually, whilst e-commerce reaches merely a third of this value. There will be no digital revolution in realty trading legislation, but there are already proposals of solutions that may lay the foundations for future regulations. Today’s conclusions are as follows. Firstly, even the legislative power of each country remain indifferent, globalisation has already entered the legal environment. Secondly, technological facilitations cannot replace the professionals able to conduct the cross-border sale process.

Related Powerlists