Anita Garnuszek, Senior Associate from the dispute resolution team, served once again as an arbitrator during the Global Orals stage of the Foreign Direct Investment International Arbitration Moot.

The amendment to the Building law adopted by the Parliament by the act of 13 February 2020 was signed by the President of the Republic of Poland on 3 March 2020 and came into force on 19 September 2020 after a six-month vacatio legis period. The most important modifications introduced by the amendment are described in the legal alert.

On 30 September 2020, a draft act amending the laws on corporate income tax (CIT) was published, which will introduce changes in the tax rules applicable to partnerships. It is highly likely that limited partnerships will become CIT payers from the beginning of 2021. General partnerships may also be affected (i.e. they will become CIT payers) if they fail to meet the conditions specified in the new regulations.

WKB  advised Giant Ventures on Polish aspects of its investment into Airly sp. z o.o. and provided comprehensive legal support during the entire transaction process, in particular undertaking a legal due diligence of the company, as well as providing support in negotiating transaction documents.

Am 5. August 2020 wurde die seit langem erwartete Gesetzesvorlage zur Novellierung des polnischen Gesetzbuches für Handelsgesellschaften veröffentlicht, mit der u.a. bisher unbekannte konzernrechtliche Regelungen erstmals den Weg in die polnische Rechtsordnung finden können.

WKB competition team represented Grundfos Holding A/S in proceedings before the Polish competition authority (UOKiK), swiftly obtaining unconditional clearance for the acquisition of 100% of the shares in Silhorko-Eurowater A/S.

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 advised PKO Bank Polski on restructuring the debt of Huta Pokój S.A., a manufacturer and distributor of steel products.