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.

As in the previous year, due to the ongoing Covid-19 pandemic and in response to proposals put forward by non-government organisations and economic operators, deadlines for the preparation of financial statements for 2020 have been extended.

WKB advised Orbico d.o.o. and Distribev Orbico sp. z o.o. in the sale of 80% of shares in the share capital of Distribev Orbico sp. z o.o. to United Beverages S.A. WKB lawyers advised Orbico d.o.o., the largest distributor in Europe, providing them with comprehensive legal support during the entire transaction, in particular during negotiations concerning the terms and transaction documents.

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:

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.

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.

Simplified restructuring proceedings will be available until30 June 2021. The legislature’s intent was to enable debtors to undertake negotiations with their creditors without the need for the courts to formally open proceedings, while simultaneously protecting them from enforcement by their creditors.

Practical guidelines developed on the basis of the provisions of the Act on special arrangements for the prevention, countering and combating of COVID-19, other infectious diseases and crisis situations caused by them (the “Anti-Crisis Shield”), which entered into force on 31 March 2020, the Act on special support instruments in connection with the spread of the SARS-CoV-2 virus (the “Shield 1.1”), which entered into force on 18 April 2020, the Act amending certain laws concerning protection measures in connection with the spread of the SARS-CoV-2 virus (the “Shield 3.0”), which entered into force on 16 May 2020, and the Act on interest subsidies for bank loans granted to entrepreneurs affected by COVID-19 and on simplified proceedings for the approval of an arrangement in connection with COVID-19 (the “Shield 4.0”), which entered into force on 24 June 2020.