On 14 December 2022 the lower house, Sejm, passed a bill on family foundations. The law was then sent to the Senate, where amendments were made to it, now pending before the Sejm. Regardless of these legislative works, it is expected that the law will come into force 3 months after its promulgation. It should therefore be possible to establish a family foundation as early as the first half of 2023.
Tax Exemption in The Polish Investment Zone From 2023 in Yet a Different Shape
As of 1 January 2023, new conditions govern aid in the Polish Investment Zone (PIZ), as indicated in the new regulation implementing the Act on supporting new investments (the new PIZ regulation).
Did You Know: Three-Way Tie Atop CEE 12-Month Banking & Finance Leaderboard
Did You Know that, according to the Activity Rankings function of the CEELMDirect website, Clifford Chance’s Andrzej Stosio, Norton Rose Fulbright’s Warsaw Managing Partner Grzegorz Dyczkowski, and Mark Harrison, the Founder and Principal of Harrisons, all worked on six reported Banking & Finance deals in the past 12 months, placing them in a three-way tie for first place in CEE over that time?
Dentons Successful for Porsche Inter Auto Polska Before Supreme Administrative Court
Dentons has successfully represented the interests of Porsche Inter Auto Polska in multiple cases concerning excise taxation on intra-community acquisitions of passenger cars before the Provincial Administrative Court in Warsaw and the Supreme Administrative Court.
Corporate Governance in Poland
Contributed by Dentons.
Gas Prices Capping Act Brings Important Changes for RES Sector
On 20 December 2022, the Official Journal of the Republic of Poland published the rather awkwardly titled Act of 15 December 2022 on Special Protection of Certain Gas Fuel Consumers in 2023 Due to the Gas Market Situation (Gas Prices Capping Act). In this legal alert, we’ll look at the main rules intended to protect eligible customers against spikes in gas prices, payment of compensation to eligible suppliers, as well as amendments to the Energy Law (EL) that are likely to affect the market for companies producing energy from renewable sources (RES Businesses).
Dentons Advises NEPI Rockcastle on EUR 60 Million Green Financing
Dentons has advised NEPI Rockcastle on a EUR 60 million green financing for Ploiesti Shopping City from a syndicate of lenders led by BRD Groupe Societe Generale.
Contract Indexation Vs. Contracting Authority’s Economic Prudence in Poland
An economic crisis is definitely upon us. Factors such as inflation, reduced availability of raw materials and skyrocketing material prices and costs triggered by, among other things, the armed conflict in Ukraine and sanctions imposed on the Russian Federation, are having a direct impact on performance of contracts and their profitability. Among those hardest hit in these circumstances are parties to public procurement contracts.
Dentons Advises Helaba on Accolade Polish Warehouse Portfolio Refinancing
Dentons has advised Helaba Landesbank Hessen-Thueringen on its EUR 129 million refinancing of five Accolade warehouse parks in Poland. Allen & Overy reportedly advised Accolade.
Jaroslaw Witek Joins Dentons as Partner in Poland To Lead Defense and Security
Former NGL Legal Partner Jaroslaw Witek has joined Dentons' Warsaw office as a Partner to lead the firm's Defense and Security group.
Amendment to the Czech Republic’s Act on Significant Market Power and its Impact on Business Practices
On 1 January 2023, an amendment to the Act on Significant Market Power in the Sale of Agricultural and Food Products and Its Abuse (the “Act”) comes into effect. The amendment significantly expands the Act’s scope both in terms of who is affected as well as the obligations it imposes.
BASEAK Advises SDT Uzay & Savunma Teknolojileri on IPO
Dentons Turkish affiliate Balcioglu Selcuk Ardiyok Keki Attorney Partnership has advised SDT Uzay & Savunma Teknolojileri on its IPO with Info Yatirim.
Linklaters and Dentons Advise on NEPI Rockcastle Acquisition of Atrium Copernicus Shopping Center
Linklaters has advised NEPI Rockcastle on its acquisition of the Atrium Copernicus Shopping Center in Torun from G City Europe. Dentons advised the seller.
Linklaters and Dentons Advise on Echo Investment Sale of Face2Face Business Campus in Katowice
Linklaters has advised Echo Investment on the sale of the Face2Face Business Campus office complex in Katowice to a joint venture of Investika and Bud Holdings for over EUR 100 million. Dentons and, reportedly, Crido advised the buyers.
Closing: Stellantis Acquisition of aiMotive Now Closed
On December 27, 2022, Dentons announced that aiMotive's sale to Stellantis (as reported by CEE Legal Matters on November 30, 2022) had closed.
Did You Know: CEE 2022 Leaders According to CEELM Direct
Did you know that Dentons worked on more reported client matters in Central and Eastern Europe in 2022 – 86 – than any other firm (with Sorainen only one behind), and that Andrzej Stosio of Clifford Chance in Poland worked on more client matters than any other lawyer in the region – 13 (with Mantas Petkevicius of Sorainen in Lithuania and Roxana Ionescu of Radu Taracila Padurari Retevoescu in Romania both only one behind, with 12)?
Wolf Theiss Advises AFI on EUR 450 Million Credit Facility
Wolf Theiss has advised AFI on a EUR 450 million credit facility for the purposes of refinancing its three shopping centers in Romania – AFI Cotroceni in Bucharest, AFI Ploiesti, and AFI Brasov.
Czabanski & Galuszynski and Dentons Advise on Focus Estate Fund Acquisition of Atrium Mosty
Czabanski & Galuszynski has advised the Focus Estate Fund on its acquisition of the Atrium Mosty shopping center in Plock from the Atrium Group. Dentons advised Atrium.