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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.
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.
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.
WKB Legal Alert | New powers granted to the President of the OCCP – access to information on taxpayers
Another "Anti-Crisis Shield" has come into force, extending the powers of the President of the Office of Competition and Consumer Protection (Urząd Ochrony Konkurencji i Konsumentów; UOKiK; “OCCP”) regarding access to data held by tax offices and customs and tax offices. The details are presented in this legal alert.
international
WKB Legal Alert | Publication of draft amendments to the commercial companies code
On 5 August 2020, the Government Legislation Centre published the long awaited draft bill amending the Commercial Companies Code and certain other acts. The primary purpose of the proposed amendments is to introduce certain regulations from holdings law (the law on corporate groups) into the Polish law system, which will regulate relationships between parent companies and their subsidiaries such that the interests of all parties concerned are taken into account. Furthermore, the draft bill, as published, provides for a number of amendments strengthening supervisory boards by giving them tools allowing them to  exercise more effective corporate supervision. The bill also sanctions a duty of loyalty of members of a company’s governing bodies.
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.
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.
WKB Legal Alert | New powers granted to the President of the OCCP – access to information on taxpayers
Another "Anti-Crisis Shield" has come into force, extending the powers of the President of the Office of Competition and Consumer Protection (Urząd Ochrony Konkurencji i Konsumentów; UOKiK; “OCCP”) regarding access to data held by tax offices and customs and tax offices. The details are presented in this legal alert.
international
WKB Legal Alert | Publication of draft amendments to the commercial companies code
On 5 August 2020, the Government Legislation Centre published the long awaited draft bill amending the Commercial Companies Code and certain other acts. The primary purpose of the proposed amendments is to introduce certain regulations from holdings law (the law on corporate groups) into the Polish law system, which will regulate relationships between parent companies and their subsidiaries such that the interests of all parties concerned are taken into account. Furthermore, the draft bill, as published, provides for a number of amendments strengthening supervisory boards by giving them tools allowing them to  exercise more effective corporate supervision. The bill also sanctions a duty of loyalty of members of a company’s governing bodies.
WKB advises on RWE’s planned acquisition of Nordex’s wind and solar power business
WKB supported RWE and Freshfields Bruckhaus Deringer – global advisors to the RWE energy group – advising on the Polish aspects of RWE’s acquisition of Nordex’s European wind and solar power project portfolio.
international
Anna Wyrzykowska, attorney-at-law and partner at WKB – the first Pole with the position of Vice-President of AIJA.
Anna Wyrzykowska, partner at WKB, was elected on 28 August by the General Assembly of AIJA (Association Internationale des Jeunes Avocats / International Association of Young Lawyers) to the position of First Vice President of the Association. Anna is the first lawyer from Poland with such a high position on the board of AIJA, one of the most important international legal organizations in the world, and which has been operating since 1962.
international
WKB advised ABB on the divestment of the Power Grids Division in Poland within a global joint venture transaction with Hitachi
WKB advised ABB with regards to the Polish legal aspects of ABB’s divestment of the Power Grids Division into a separate entity, together with the part of the company which provides support services to this Division in the CEE region. The transaction was carried out simultaneously in multiple jurisdictions across the world.
WKB the fifth largest law firm in Poland according to the Rzeczpospolita ranking
In the latest edition of the Law Firm Ranking, published every year by the Rzeczpospolita daily, WKB moved up to the 5th place by the number of lawyers and to the 6th place by the number of advocates and legal advisers. The firm was also recognized as one of the growth leaders for 2010-2020.
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.
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.
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.
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.
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.
Anna Wyrzykowska authored The Real Estate Guide Poland
Anna Wyrzykowska has authored the chapter on Polish regulations regarding the real estate market in „The Real Estate Guide Poland”, prepared by MultiLaw International.
international
WKB lawyers co-authored Chambers Corporate M&A 2020 Guide
Jakub Jędrzejak, Marta Midloch, Ben Davey and Katarzyna Kozak have co-authored the chapter on the Corporate M&A market in Poland in the latest publication Chambers Practice Guides 2020.
international
WKB lawyers co-authored the chapter in The Corporate Governance Review 2020
Andrzej Wierciński, Anna Wojciechowska and Anna Wyrzykowska have co-authored the chapter on Polish regulations regarding corporate governance in ”The Corporate Governance Review 2020”, which features an overview of the rules in 26 selected jurisdictions worldwide.
international
WKB top-ranked in Media Law International 2020
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.  This year WKB has received a Tier 1 recommendation, placing our firm among the top four law firms in this area in Poland.
Possible impact of the COVID-19 pandemic on the M&A market
The SARS-CoV-2 virus pandemic which causes the COVID-19 illness is negatively impacting the global economy, including the Polish market. We invite you to read the analysis of Jakub Jędrzejak, managing the area of mergers and acquisitions, on the possible consequences of the COVID-19 pandemic on the M&A market