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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.
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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.
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WKB Legal Alert | More time to prepare and approve financial statements for 2020
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 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.
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WKB lawyers advised Polskie ePłatności S.A. on the acquisition of a stake in QRTAG
WKB lawyers advised Centrum Rozliczeń Elektronicznych Polskie ePłatności S.A. (PeP) on the acquisition of a stake in QRTAG sp. z o.o., a company that designs, develops, and implements mobile applications.
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WKB advised CVI on its exit from Exact Systems
WKB Lawyers advised CVI Dom Maklerski sp. z o.o. managing the assets Noble Fund Mezzanine FIZAN on its exit from Exact Systems sp. z o.o., a company engaged in quality assessment of components in the high-volume automotive and household appliance industry.
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WKB Lawyers in Legal 500 EMEA 2023
We are pleased to announce that the results of the latest ranking of The Legal 500 EMEA 2023 have been published. This year WKB was recognised in 16 categories and in 4 of them we were recognised as a TOP TIER FIRM. Individual recommendations were made for 50 of our experts - 2 of our lawyers were included in the elite group of the Hall of Fame - Jerzy Baehr and Aleksander Stawicki, 4 lawyers were recommended in the group of Leading Individuals: Jakub Pokrzywniak, Jan Roliński, Bartosz Turno and Anna Wojciechowska. Anna Flaga-Martynek, Marta Midloch and Dorota Karczewska were honoured as Next Generation Partners.
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Recommendations for WKB Lawyers in Chambers Europe 2023
The results of Chambers Europe - the leading legal directory in Europe - have been released. We are pleased to announce that 10 of our teams were recognised this year, four of them in Band 1. The Energy & Natural Resources team joined this elite group, along with Competition/Antitrust, Corporate/M&A and Public Procurement. Fifteen of our lawyers received individual recommendations - five of them in Band 1: Jerzy Baehr, Jakub Jędrzejak, Jakub Pokrzywniak, Jan Roliński and Aleksander Stawicki.
WKB Legal Alert | European Union AML package – AML regulation
Issues related to anti-money laundering and countering the financing of terrorism remain at the centre of attention of European Union bodies. According to the Joint Declaration of the European Parliament, the Council of the European Union and the European Commission on the Union’s legislative priorities for 2023 and 2024, AML and CTF are among the most important matters facing the Union’s legislature. There are ongoing legislative works at the European Union level on a consolidation of EU AML and CFT rules. The, so-called, ‘AML package’ consists of four legislative acts, at the core of which sits the proposed Regulation on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing. Its provisions are intended to replace the current substantive provisions of the Polish Act on Counteracting Money Laundering and Terrorism Financing.
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WKB advises Lisner Holding on the acquisition of 100% of Graal Group from its current shareholders
WKB Lawyers advised Lisner Holding sp. z o.o., a member of the UTM (Unternehmensgruppe Theo Müller) group, on the signing of a preliminary share purchase agreement for 100% of shares in Greenwich Investments sp. z o.o., the parent company of the Graal Group.
WKB Lawyers joins Global Insurance Law Connect
From 1 March 2023 WKB Lawyers become the latest firm to join the Global Insurance Law Connect (GILC), a global alliance of insurance law firms. WKB will be the 14th European member, alongside firms from the UK, the Netherlands, Norway, Denmark, Finland, Turkey, Italy, Switzerland, Belgium, Luxembourg, France, Germany and Spain.
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WKB advised TU and TUnŻ Europa on the acquisition of 80% of shares in Millennium Financial Services from Bank Millennium
Bank Millennium has signed an agreement to sell 80% of shares in Millennium Financial Services to Towarzystwo Ubezpieczeń na Życie Europa, which will acquire 72% of shares, and Towarzystwo Ubezpieczeń Europa, which will acquire 8% of shares. WKB Lawyers provided TU and TUnŻ Europa comprehensive legal support at all stages of the transaction, from due diligence, through transaction structuring and negotiations, up to preparing and signing the transaction documentation.