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WKB Legal Alert | Cyber – compliance in the shadow of pandemic. A cyberfraud case study
Running a business in the pandemic era, including switching to remote working, has opened multiple doors for cyberattacks. Cybercriminals become more skilful in using new technologies and social engineering to their advantage. A cyberattack may cause severe losses, including financial ones, for the company. To minimise potential losses, cybersecurity guidelines adopted by organisations should be given a closer examination.
international
WKB Legal Alert | New law expanding foreign investment controls
Poland adopted a new law on foreign direct investment controls as part of the so-called “Anti-Crisis Shield 4.0”. The law expands the State’s control over M&A transactions in some strategic sectors of the economy. These provisions came into force on 24 July 2020 and they seem to apply to ongoing transactions (those not closed before that date). On 21 July 2020 President of the Office of Competition and Consumer Protection (UOKiK, the authority responsible for application of the new measures) published guidelines concerning new rules on foreign direct investment. Even though the guidelines are not a binding source of law they show how the new measures will be interpreted and adopted.
WKB Legal Alert | Business during a pandemic Expert analyses on selected provisions of the 4.0 Anti-Crisis Shield Act
Our experts continue to monitor and analyse all new legislative proposals in Poland which can affect business during the pandemic. In connection with the adoption of amendments to the Anti-Crisis Shield framework 4.0 (24 June 2020), we present materials, including a set of analyses on the law as of 1 July 2020.
WKB Legal Alert | Impact of the COVID-19 epidemic on the credit sector – Shield 4.0
In connection with the coronavirus pandemic, the legislature has introduced a number of new regulations concerning loan market. We note the most important of them.
WKB Legal Alert | Shield 4.0 – employment law
Shield 4.0 was published in the Journal of Laws and the majority of its provisions came into force on 24 June 2020. In the legal alert, we present the most important solutions for employers introduced by this new special law.
international
NEUE REGELUNGEN ZUR ERWEITERUNG DER KONTROLLE AUSLÄNDISCHER INVESTITIONEN AUF BESTIMMTE SEKTOREN (ZUR VORBEUGUNG “FEINDLICHER ÜBERNAHMEN” IM ZUSAMMENHANG MIT COVID-19).
Im Rahmen des sog. „Anti-Krisen-Schutzschildes 4.0” sind am 24. Juli 2020 neue Regelungen über die Kontrolle direkter ausländischer Investitionen in Kraft getreten. Mit den neuen Rechtsvorschriften wird die staatliche Kontrolle über M&A Transaktionen in manchen strategischen Wirtschaftssektoren erweitert.
WKB Legal Alert | Anti-Crisis Shield 4.0 – real estate
On 24 June 2020, a number of provisions of the Act of 19 June 2020 on subsidies to interest rates on bank loans granted to entrepreneurs affected by COVID-19 and on simplified procedures for the approval of an arrangement in connection with COVID-19 (“Shield 4.0”) entered into force. This Act introduces amendments to other acts. Below, we present the most important changes regarding real estate matters resulting from Shield 4.0 and its implementation:
WKB Legal Alert | What do lenders who offer credit holidays have to watch out for?
One of the solutions introduced by the Anti-Crisis Shield 4.0 is a, so-called, statutory credit holidays. Under these new provisions, credit institutions, in particular banks, are required to suspend the repayment of liabilities incurred by borrowers who have lost liquidity due to the coronavirus pandemic. Implementing these new solutions will undoubtedly be a challenge for lenders. When granting credit holidays, financial institutions need to ensure that the assistance reaches the right people, but also to provide consumers with reliable, truthful and complete information throughout the process. Failure to comply with these obligations may, in general, result in the initiation of proceedings regarding the infringement of consumer collective interests.
international
WKB Legal Alert | Changes in the functioning of the Central Register of Beneficial Owners
On 31 October 2021, with the last part of the amended provisions of the Act on Counteracting Money Laundering and the Financing of Terrorism entering into force, certain aspects of how the Central Register of Beneficial Owners (Centralny Rejestr Beneficjentów Rzeczywistych) functions have changed.
international
WKB Legal Alert | Whistleblower Explained or Who Can Become a Whistleblower and What Protection Can Be Expected
On 18 November 2021, a draft law was published on the protection of persons who report breaches of law with the goal of implementing the Directive (EU) 2019/1937 of the European Parliament and of the Council of 23 October 2019 on the protection of persons who report breaches of Union law into the national law. The period for the implementation expires on 17 December 2021. Currently, the draft law has been sent to public consultation. Since the main mechanism preventing individuals from reporting such breaches is the fear of retaliation, the principal purpose of the Directive and the implementation law is to provide a proper level of protection to whistleblowers.
BULLETIN | The most important changes in labor law – an overview
We kindly encourage you to review the currently pending legislative proposals and recent changes in the area of employment law. In the latest WKB newsletter, you will be able to learn more about: remote work, whistleblowers protection, an amendment to the Social Security System Act and obtaining information on employees’ vaccinations.
international
WKB Legal Alert | Amendments to Polish Companies Law – updated draft bill
On 6 July 2021, the Government Legislation Centre published an updated draft of the bill to amend the Commercial Companies Code (“CCC”) and certain other acts, following its review by a meeting of its legal committee. Compared with the draft published half a year ago, the July 2021 draft does not introduce significant changes. The primary purpose of the bill is to introduce into Polish law novel legal regulations in respect of holdings and moreover a range of amendments strengthening the position of supervisory boards, by providing them the tools needed to more effectively exercise corporate supervision. We present the most important provisions of the draft amendments.
international
WKB Legal Alert | New edition of the best practice for GPW listed companies. Evolution or revolution?
The Best Practice for GPW Listed Companies is the code of corporate governance rules which all companies listed on the Warsaw Stock Exchange (Giełda Papierów Wartościowych w Warszawie; the “Exchange”) Main Market are subject to since 2002 (as soft law). The current edition of the Best Practice, adopted in 2016, was replaced by the Exchange Supervisory Board in its Resolution No. 13/1834/2021 of 29 March 2021, by a new edition (i.e. the Best Practice for GPW Listed Companies 2021) which came into force on 1 July 2021.
international
WKB Legal Alert | NOVELLE DES GESETZES ZUR BEKÄMPFUNG VON GELDWÄSCHE UND TERRORISMUSFINANZIERUNG – ACHT WICHTIGSTE ÄNDERUNGEN
Die Novelle des Gesetzes vom 1. März 2018 zur Bekämpfung von Geldwäsche und Terrorismusfinanzierung, mit der die Regelungen der sog. 5. Geldwäsche-Richtlinie (des Europäischen Parlaments und des Rates (EU) 2018/843 vom 30. Mai 2018) in die polnische Rechtsordnung umgesetzt werden, tritt in Kraft.
international
WKB Legal Alert | Amendments to the Act on Counteracting Money Laundering and the Financing of Terrorism – the eight key changes
New amendments to the Act of 1 March 2018 on Counteracting Money Laundering and the Financing of Terrorism, which transpose the provisions of the so-called 5th AML Directive (Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018) into Polish law, will be coming into effect.
WKB Legal Alert | Cyber – compliance in the shadow of pandemic. A cyberfraud case study
Running a business in the pandemic era, including switching to remote working, has opened multiple doors for cyberattacks. Cybercriminals become more skilful in using new technologies and social engineering to their advantage. A cyberattack may cause severe losses, including financial ones, for the company. To minimise potential losses, cybersecurity guidelines adopted by organisations should be given a closer examination.
international
WKB experts at 65th UIA Congress
WKB's experts: Aleksander Stawicki, Łukasz Czekański and Magdalena Zielińska - Kuć, together with renowned legal experts from all over the world, participate as panellists in the prestigious 65th UIA Congress (28-30 October in Madrid), organised by UIA Union Internationale des Avocats.
international
Transaction in the Polish renewable energy sector – a discussion with market representatives
Poland is one of the most promising markets for green energy investments in Europe. One of the main conclusions of the international conference on “Transactions in the renewable energy sector”, held on 3 February, is that in addition to the involvement of investors and the support of financial institutions, a clear and predictable national policy is also necessary. The conference was organized by AEEC (Associated European Energy Consultants) and the law firm WKB Wierciński, Kwieciński, Baehr. Representatives of financial institutions, advisors and investors active in the renewable energy sector participated in the conference, with panels moderated by WKB’s expert lawyers.
Privacy related regulations in Poland podcast
Agnieszka Wiercińska-Krużewska shared her reflections on Polish privacy related regulations in a podcast recorded by Privacy Rules, a global alliance of privacy professionals. The briefing includes the latest on Polish data protection-related laws and is available both on Privacy Rules’ website and on YouTube.
WKB is an official partner of the CAMERIMAGE film festival
November 10th will mark the launch of the 26th edition of the CAMERIMAGE – the International Film Festival of the Art of Cinematography which will take place in Bydgoszcz. WKB law firm, already a long-standing partner of the CAMERIMAGE film festival, once again has the pleasure of supporting the organisers of the largest and most renowned festival dedicated specifically to the art of cinematography and its creators – cinematographers.
international
WKB top-ranked in Media Law International 2021
WKB Wierciński, Kwieciński, Baehr law firm has again been ranked by Media Law International – the most important international ranking published as a specialist guide to the world’s leading media law firms. 
Changes in public procurement law – an article in Miesięcznik Ubezpieczeniowy
An article authored by dr hab. Jakub Pokrzywniak and dr Jarosław Kola discusses the relationship between the provisions on the "contract" analysis of needs and requirements, in relation to the statutory obligations of an insurance distributor in the field of customer needs recognition.
WKB is an official partner of the CAMERIMAGE film festival
November 10th will mark the launch of the 26th edition of the CAMERIMAGE – the International Film Festival of the Art of Cinematography which will take place in Bydgoszcz. WKB law firm, already a long-standing partner of the CAMERIMAGE film festival, once again has the pleasure of supporting the organisers of the largest and most renowned festival dedicated specifically to the art of cinematography and its creators – cinematographers.
WKB supports the gold medallists of the 2018 European Rowing Championships
WKB Wierciński, Kwieciński, Baehr advised the Polish national women’s quadruple sculls team, consisting of Agnieszka Kobus-Zawojska, Maria Springwald, Marta Wieliczko, and Katarzyna Zillmann, in the negotiation and conclusion of a partnership agreement with Totalizator Sportowy.
WKB advises on a unique merger of investment fund companies
WKB Wierciński, Kwieciński, Baehr advised PKO BP Group during the merger process of two investment fund companies – PKO TFI and Gamma TFI (previously KBC TFI), which was entered into the Register of Entrepreneurs of the National Court Register at the beginning of June.
international
2022 promotions at WKB
On 1 January 2022, Anna Flaga-Martynek (infrastructure projects), Marta Midloch (infrastructure projects and capital markets), Marcin Smolarek (banking and finance), Maciej Szambelańczyk (energy), Anna Wojciechowska (company law and corporate governance) and Anna Wyrzykowska (real estate and property development) joined the ranks of WKB’s equity partners. The following counsels were nominated as partners: Agata Szczepańczyk-Piwek (capital markets and financial services), Sergiusz Urban (environmental law) and Jordan Zafirow (dispute resolution). Promotions to counsel were granted to Wojciech Kulczyk (competition and consumer law), Bartosz Łaski (real estate and property development) and Krzysztof Sikorski (energy).
international
Poczta Polska, with the support of WKB, received the European Commission’s approval for PLN 215 million in state aid
Poczta Polska, with the support of WKB, received the European Commission’s approval for PLN 215 million in state aid. As the first decision of its kind issued by the Commission to an EU postal operator, it could pave the way for similar decisions in other cases.
international
WKB advised Avallon MBO Fund on the acquisition of the majority of shares in Norlys AS
WKB lawyers advised Avallon MBO Fund on the acquisition of 75% of the shares in Norlys AS along with its subsidiaries in Poland, Sweden and France – Norlys Group constitutes an international holding producing high-quality outdoor lighting for the professional lighting business with its main production plant based in Nowy Sącz.
international
TopLegal Award in the category “Best Italian Desk of the Year” awarded to WKB
WKB’s Italian Desk has won the Top Legal Awards in the category “Italian Desk Dell’Anno” (“Best Italian Desk of the Year”). The winners of the 2021 edition were announced at a gala ceremony on 23 November 2021 in Milan.
international
WKB advised EW Rywałd sp. z o.o. at the stage of contractor selection for the Wind Farm Rywałd project
WKB Wierciński, Kwieciński, Baehr law firm advised EW Rywałd sp. z o.o., being a part of leading independent investment and asset manager KGAL, at the stage of contractor selection for the Wind Farm Rywałd project in Poland. Our support consisted in the preparation of a “tailored fit” contract draft to meet the client’s individual needs, participation in the negotiation process, including assessment of changes to the Balance of Plant contract put forward by the bidders, negotiations with the preferred bidder, changes to the BoP contract, and supervision of the signing process with the preferred bidder.
international
WKB Legal Alert | Changes in the functioning of the Central Register of Beneficial Owners
On 31 October 2021, with the last part of the amended provisions of the Act on Counteracting Money Laundering and the Financing of Terrorism entering into force, certain aspects of how the Central Register of Beneficial Owners (Centralny Rejestr Beneficjentów Rzeczywistych) functions have changed.
international
WKB’s successes before the Supreme Court
We present the latest successes of the WKB law firm before the Supreme Court for our clients: Gdańsk Airport, Zakład Unieszkodlwiania Odpadów in Szczecin and a leading insurer.
international
WKB attorneys win before the Court of Appeal in a case of great significance for banks in terms of their liability related to posting transfers
WKB represented successfully one of the leading banks in Poland in a case brought by a citizen of England who transferred several million Polish zlotys to an open account as a result of Business E-mail Compromise fraud committed by unknown perpetrators.
international
WKB lawyers co-authored the chapter in “Real Estate M&A 2021” guide
Anna Wyrzykowska, Jakub Jędrzejak, Marcin Smolarek and Łukasz Czekański co-authored the chapter on Polish regulations regarding mergers and acquisitions in the real estate market in the prestigious “Real Estate M&A 2021” guide, published by Lexology.
international
Dr Jarosław Kola co-authored a chapter of the monograph “Electromobility as a megatrend of contemporary economy”
In February 2021, the PWN publishing house published a monograph entitled "Electromobility as e megatrend of contemporary economy", which contains an analysis of the key economic and legal challenges faced by all entities involved in the process of electromobility development in Poland.
international
WKB Italian Desk in an article in Top Legal Review magazine
In a series of publications, Top Legal Review magazine discusses OMNIA’s activities, its latest issue focusing on law firms from Spain, Slovenia, Portugal, France, Germany and Poland. Development opportunities on the Polish market are presented in the commentary to the article by Domenico Di Bisceglie, partner and co-head of the Italian Desk team at WKB.
Dr hab. Jakub Pokrzywniak co-authored the chapter on insurance contracts in a publication titled “Prawo umów handlowych” (Commercial contract law)
The author thoroughly discusses all aspects of the insurance guarantee, from explanation of the very definition and function of the guarantee, to discussion of legal regulations related to this type of contract, to the issues of payments and claims.
international
The Commentary to the Act on electromobility and alternative fuels, co-authored by WKB’s experts, has been published
Experts from WKB’s energy, public procurement and environmental protection practices have co-authored the commentary published by C.H. Beck.
Infrastructure construction will determine the pace of the Polish electromobility market – an article authored by Jakub Pokrzywniak
One of the main factors that is very important in the development of electromobility in Poland is the construction of infrastructure allowing for charging electric vehicles. What are the legislator's requirements, what the procedure looks like and who is an important link in this process, you can read in the article published in Executive Magazine
Force majeure will not automatically exempt one from liability for breach of contract – article by Marta Midloch
The issue of force majeure is presented by Marta Midloch in an article in Executive Magazine.
international
Jarosław Kola among the co-authors of the publication “Public Procurement Regulation in Africa: Development in Uncertain Times”
In June 2020, Lexis Nexis (South Africa) published the publication titled "Public Procurement Regulation in Africa: Development in Uncertain Times", with contributions from an international team of academics specialising in public procurement law and edited by Prof. Geo Quinot and Prof. Sope Williams-Elegbe from Stellenbosch University in Cape Town.