Community News

Interview: The number of investors targeting Poland is on the rise

Equity is flowing to Poland, which offers secure investment opportunities and high yields despite a recent hardening. Investors have changed their thinking about Poland, seeing it as a mature and developed market, says Paweł Nowakowski, Head of Capital Markets at Cresa Poland.

Office yields on the Warsaw market have fallen below the magic threshold of 5%, the shopping centre market is likely to be the next in line. Is investing in Polish real estate becoming less profitable?
Yield compression is a natural consequence of rising transaction prices, driven by growing demand and seller expectations. Compared to Western Europe, Polish yields are still relatively high. Prime office yields in Germany, for instance, are approximately 3%, while in Poland they stand at approximately 4.65%. Retail and warehouse yields in Poland are also much higher than in Western European countries for similar class assets.

But Germany, France and Spain are in a different league. Can we compete with them?
Yes, we can! Stable economic growth and the steady development of the Polish real estate market have changed investor perception of Poland, which has joined mature and developed markets. Secure investment products that generate steady income in the long-term attract investors to Poland. Each market segment is experiencing strong investor interest. In the first half of 2018, investment volumes exceeded EUR 3.2bn, which represented more than a twofold increase on the same period last year. Even if we exclude Griffin Real Estate’s billion-worth acquisition of a portfolio of 28 shopping centres from a consortium of Apollo Rida / Axa / Ares, this year has so far outperformed 2017. According to the current outlook, 2018’s overall investment volume is likely to exceed EUR 5.5bn.

The warehouse market is also doing quite well, alongside traditional assets such as office buildings and shopping centres, isn’t it?
That’s true. The logistics sector has been on investor radars for long. It powers ahead benefiting from growing private consumption, the expansion of e-commerce and manufacturing, and an increased inflow of foreign direct investments. This market continues to expand and yields stand at approximately 6.5%. The hospitality market has also been gaining momentum for some time. Overseas hotel chains are increasingly targeting Poland to take advantage of the growth of business and leisure tourism. Given the strong demand coming from hotel chains and the growing supply of office space, some developers are converting office projects into hotels.

New market sectors or subsectors such as the private rented sector are also emerging. In your opinion, what’s their potential?
Investing in rented apartments in an organised, institutional form is becoming increasingly popular. Global active players have recently emerged on the market with a goal to acquire such property portfolios. Given our society’s deep-rooted need for home ownership, we should ask ourselves how deep this market is. Purpose Built Student Accommodation and inexpensive flats for young professionals at the beginning of their career have a big potential, in my opinion. Polish halls of residence are in a state of disrepair and demand for student housing remains strong.
Another notable trend is in the retail sector. A group of overseas investment funds is seeking to acquire portfolios of retail parks across Poland. But such investment products are not available for now. That’s why developers and investors are focused on building scale through new developments and single retail park transactions. Once they’ve built an appropriately-sized portfolio, they will sell it to investment funds.

You say that Poland is seeing an increase in secure investment assets that generate steady income flows? Do they attract a particular type of investors?
Investment opportunities for core and core plus investors are indeed plentiful. Such market players include pension funds targeting prime assets that guarantee security and diversification of real estate income and a relatively smooth divestment. Large office buildings and retail schemes in city centres are high on their investment agendas. Other assets attracting investor interest include new office buildings under construction or commercialisation in Warsaw and regional cities, shopping centres, portfolios of retail and industrial parks, and hotels operating under leading global brands.

What about more opportunistic investors? Do they stand a good chance in Poland?
The situation is not so clear in their case. Today, the market offers no straightforward opportunities to buy a distressed property, to repair or upgrade it, and to sell it quickly at a profit. Such opportunities are, however, available to opportunistic investors through banks whose portfolios also include underperforming or unsuccessful assets. That’s why we liaise with many banks to assist them in “exit” from problematic investments and to deliver interesting projects to opportunistic investors. Close cooperation between all stakeholders: the bank, the debtor and the investor is important in such projects which also benefit from amendments to the 2016 Bankruptcy Law and new tools such as pre-pack (prepared liquidation of an enterprise). New regulations substantially facilitate and speed up acquisition of non-performing assets.

Do large global investment funds still dominate the real estate market?
Yes, for the time being. This is due to large equity investment requirements, particularly in the commercial sector. In addition to German, US, UK and South African funds, Poland has recently witnessed an increased interest from entities coming from the Far East, including China, Malaysia and Singapore. Polish investors claim a 3-5% share of the investment volume. High Net Worth Individuals have recently, however, stepped up investment activity. These are wealthy individuals who operate in non-real estate sectors and invest any cash surplus on core business activity in real estate. HNWIs invest directly or through platforms and vehicles bringing together smaller investors who with an appropriate size of equity are able to compete against global market players and acquire large retail or office buildings. The Polish real estate market is attractive to large international players as it offers relatively high yields compared with their home markets, but for smaller Polish investors real estate is a good alternative to treasury or corporate bonds. The recent turmoil on the financial market caused by a leading debt collection firm has confirmed that the real estate market has been and will be a safe haven for investors.

From what you say I gather that the market powers ahead at full steam. Is this trend likely to continue in the longer term?
All the signs point to it. In the post-global financial crisis recovery period, the Polish investment market has posted an average annual growth of approximately 14%, one of the best performances in Central and Eastern Europe. I believe it will maintain an upward trend provided there is no major turbulence on global financial markets resulting from economic or political shocks. This will be driven by three main and overlapping factors: Poland’s economic performance, investor perception and the appeal of the local property market.

Read the interview in Polish here.

Wierzbowski Eversheds Sutherland advises Grupa Netsprint (Innova Capital) in strategic acquisition in programmatic advertising sector

Grupa Netsprint (an Innova Capital portfolio company) has acquired Way To Grow, which specializes in optimizing the advertising space of publishers in the programmatic model. The potential of the newly acquired company is to help the foreign expansion of the group.

WaytoGrow Sp. z o.o. was founded in 2014 by Dominik Czarnota, Janusz Michalik and Łukasz Grodecki, who had worked together at sites such as and

Adding Way To Grow is the next step in implementing the Grupa Netsprint strategy based on data and advanced algorithms. According to, “The purchase of Way To Grow is a strategic acquisition that strengthens the potential of Grupa Netsprint in the area of programmatic.”

Monika Bronowska, CEO of Grupa Netsprint, said:“Now we will be able to offer our partners even more comprehensive services and even more effectively support their business. An effect of synergy will also be the intensification of activities on other markets.”

According to Dominik Czarnota, “We have a very committed team in which we strive to maintain a balance between experience and the potential of young people. Thanks to this, we power each other to work, and this translates into better and better results for the company.”

The team at Wierzbowski Eversheds Sutherland advising Grupa Netsprint included partners Michał Karwacki (head of PE & VC) and Ewa Szlachetka (head of M&A and capital markets), senior associates Paweł Lasota and Natalia Burchardt and associate Marek Tołcz.

Michał Karwacki said:We are glad that we could assist the buyer in this deal. We see consolidation trends in the digital sector, including advertising, SaaS and big data, and we would like to be part of such changes on the market.” 


Polish version below.


Warsaw, September 19, 2018. A conference on the new contract terms of the International Federation of Consulting Engineers (FIDIC) will be held in Warsaw on October 4. The event, „The New FIDIC Suite of Contracts: Practical Overview of Major Changes”, is being organized jointly by the law firm White & Case, the Court of Arbitration at the Polish Chamber of Commerce and the Polish Association of Construction Industry Employers. The conference is also being supported by FIDIC.

„The conference, focused on the new FIDIC contract terms, will be a perfect opportunity to get the opinion of experts – representatives of FIDIC, engineers, leading construction companies and law firms – on the practical aspects of the most important changes in the new terms. Our goal is to find the most practical approach to this issue, which is why the speakers will include recognized foreign and Polish experts in this area,” says Michał Subocz, partner at White & Case.

FIDIC representatives who have confirmed their attendance include: Dr. Nael Bunni, Special Adviser, FIDIC Contracts Committee; Aisha Nadar, Member, FIDIC Executive Committee and FIDIC’s Update Task Group; Dr. Cyril Chern, Special Adviser, FIDIC Contracts Committee; and Cremona Cotovelea, Member, FIDIC Procurement Policy Sub-Committee. Panel speakers will also include representatives of White & Case and other law firms, as well as investors, construction companies and consulting firms.

FIDIC contract terms are commonly used in Poland for infrastructure investments, in particular for building expressways, highways and railroad tracks.

The conference on „The New FIDIC Suite of Contracts: Practical Overview of Major Changes” will take place on October 4 at the Raffles Europejski Warsaw hotel. Guests can register online at:





 Już 4 października w Warszawie odbędzie się konferencja poświęcona nowym warunkom kontraktowym Międzynarodowej Federacji Inżynierów Konsultantów (FIDIC). Wydarzenie pt. „The New FIDIC Suite of Contracts: Practical Overview of Major Changes” jest współorganizowane przez kancelarię White & Case, Sąd Arbitrażowy przy Krajowej Izbie Gospodarczej oraz Polski Związek Pracodawców Budownictwa. Organizacją wspierającą jest FIDIC.

„Konferencja poświęcona nowym warunkom kontraktowym FIDIC będzie doskonałą okazją aby poznać opinie ekspertów – przedstawicieli FIDIC, inżynierów, wiodących firm budowlanych i kancelarii prawnych – na temat praktycznych aspektów dotyczących najważniejszych zmian w nowych warunkach. Naszym celem jest jak najbardziej praktyczne podejście do tego zagadnienia, dlatego wśród prelegentów znajdą się uznani zagraniczni i krajowi eksperci z tej dziedziny”, mówi Michał Subocz, Partner w kancelarii White & Case.

Swoją obecność potwierdzili, z ramienia FIDIC: Dr Nael Bunni, Special Adviser, FIDIC Contracts Committee; Aisha Nadar, Member, FIDIC Executive Committee i FIDIC’s Update Task Group; Dr Cyril Chern, Special Adviser, FIDIC Contracts Committee; oraz Cremona Cotovelea, Member, FIDIC Procurement Policy Sub-Committee. Wśród panelistów znajdą się również przedstawiciele kancelarii White & Case oraz innych kancelarii prawnych, a także reprezentanci inwestorów, firm budowlanych i doradczych.

Warunki kontraktowe FIDIC są w Polsce powszechnie stosowane przy realizacji wielu inwestycji infrastrukturalnych, w tym w szczególności dróg ekspresowych, autostrad czy trakcji kolejowych.

Konferencja „The New FIDIC Suite of Contracts: Practical Overview of Major Changes” odbędzie się 4 października w hotelu Raffles Europejski Warsaw. Rejestracja na wydarzenie odbywa się za pośrednictwem platformy internetowej:

Hoover Project Invitation

Dear AmCham Members,

As part of the “Sto Lat Razem” campaign, which celebrates 100 years of Poland`s independence and Polish-American relations, the American Chamber of Commerce together with the U.S. Consulate General and the City of Krakow in cooperation with partner institutions is pleased to announce the ”Honoring Hoover” project.  

Part of the project will be the “Hoover Table Charity” action where American entrepreneurs may can raise money for disadvantaged children.

President Herbert Hoover was an extraordinary person and an American friend of Poland, who worked to assemble humanitarian aid for Poland after the 1st and 2nd World Wars.  As the head of the American Relief Administration (ARA), Hoover initiated and organized efforts to help Poles with the key goal to save Polish children from hunger and disease and to bring relief to the devastated country’s economy.

One of Herbert Hoover`s most notable charity events was the “Invisible Guest Dinner” organized in 1920 at the Waldorf Astoria Hotel in New York. The event idea was to raise funds for Poland in the aftermath of World War I. 1000 people responded to Herbert Hoover’s invitation, each paying $1,000 dollars to attend. The meal was intentionally modest. Guests - America’s most powerful business tycoons were seated at wooden tables and food was served on metal plates without napkins. The dinner was based on the typical size of meals available for a Polish child, with a monetary value of only 22 cents. The meal consisted of potatoes, rice and a cup of cocoa. There was also an empty chair placed in the center of a wooden table to symbolize an absent child`s life. A candle was then placed on the chair to represent the child`s fate coming to an end. This dinner was an enormous success, as it raised one million dollars in aid for the Polish people and was thereafter called the Million Dollar Dinner.

The goal of this project is to enable participation of underprivileged pupils from day-care facilities in Krakow in an Adventure English Language Camp and refresh knowledge about Herbert Hoover’s great story.

Get involved and make a donation in the amount of 2.000 PLN to fundraise an Adventure English  Summer Camp for 1 child (or more!!).

You can transfer funds to a special bank account devoted to the HOOVER TABLE project:

BANK ACCOUNT: 80 1750 0012 0000 0000 3893 0777
THE NAME OF BANK: Raiffeisen Polbank

This account will be managed by the Polish Institute of Philanthropy (project Partner).

All HOOVER TABLE project details can be found on the website:

Iwona Janas szefem marki Manpower na Europę

Z początkiem września Iwona Janas awansowała w strukturach europejskich ManpowerGroup. Została szefem marki Manpower na Europę. To dodatkowa funkcja Iwony Janas w organizacji, ponieważ w dalszym ciągu będzie zarządzać firmą ManpowerGroup w Polsce i w Rosji.

Na nowym stanowisku Iwona Janas będzie odpowiedzialna za budowanie i realizację europejskiej strategii sprzedaży i rozwoju dla marki Manpower, specjalizującej się w świadczeniu usługi pracy tymczasowej, współpracując z dyrektorami marki na poszczególnych rynkach europejskich.

Przez ostatnie 14 lat Iwona Janas, jako dyrektor generalny na Polskę, a od 2 lat również na Rosję, zarządza czterema markami należącymi do ManpowerGroup: Manpower, ManpowerGroup Solutions, Experis, Proservia. W ciągu 14 lat działalności na polskim rynku Iwona Janas przyczyniła się do rozwoju organizacji z 1 do 50 oddziałów firmy rozlokowanych w całej Polsce, z 5 pracowników do ponad 500 zatrudnionych. Stworzona i wdrożona przez nią strategia rozwoju biznesu zaowocowała osiągnięciem przez ManpowerGroup pozycji jednego z liderów na polskim rynku w zakresie rozwiązań HR, uzyskującego roczne przychody w wysokości 150 mln euro. W ramach awansu Iwona Janas zachowuje swoje dotychczasowe funkcje.

Iwona Janas jest absolwentką uczelni ISEAD, jednej z największych szkół zarządzania biznesem na świecie, na kierunku przywództwo. Ukończyła również studia podyplomowe na Uniwersytecie Lille 1 we Francji na kierunku handel międzynarodowy i finanse oraz studia magisterskie na Uniwersytecie Lille 3 na kierunku biznes i języki obce.

W Polsce dyrektorem marki Manpower pozostaje Tomasz Walenczak.


Cushman & Wakefield won all real estate categories at the Euromoney Real Estate Awards 2018

The international real estate advisory firm Cushman & Wakefield has been announced the ultimate winner of the 14th annual Euromoney Real Estate Survey 2018 in the Czech Republic and the CEE region.

Jonathan Hallett, Executive Partner, Head of Central & Eastern Europe, said: “We are delighted to have received the recognition from our clients across the board in the CEE region. This is a testimony to the quality of service we strive to achieve every day. We aim to offer our clients global insight with deep local knowledge with a goal to establish what’s next in the industry.”

Euromoney, a leading international finance publication, annually surveys the opinions of real estate advisors, developers, investment managers, corporate end-users and banks worldwide to determine the best providers of real estate services.

Hines sprzedał biurowiec Proximo II

Hines, międzynarodowa firma działająca na rynku nieruchomości, w imieniu funduszu Hines Russia & Poland Fund (HRPF) ogłosiła dzisiaj sprzedaż budynku biurowego Proximo II na rzecz ČS nemovitostní fond (CSNF), zarządzanego przez REICO investiční společnost České spořitelny (REICO IS ČS). Podczas transakcji Hines był reprezentowany przez firmy Dentons, Cushman & Wakefield oraz Crido. Nabywcy doradzały międzynarodowe firmy White & Case, CBRE, TPA oraz DIL.

Chcielibyśmy podziękować REICO i jego zespołowi za drugą transakcję, zakończoną sukcesem w ciągu 12 miesięcy. Jesteśmy przekonani, że Proximo II idealnie wpisuje się w portfolio REICO w Polsce” – powiedział Przemysław Iznerowicz, Dyrektor Zarządzający w Hines Polska.

Wysokiej klasy budynek biurowy Proximo II, ukończony w styczniu 2018 roku, jest w 100% wynajęty, a jego najemcami są Accenture, EY, Six oraz IT Kontrakt. Proximo II to drugi biurowiec z kompleksu Proximo, zakupiony przez REICO IS ČS. Transakcja zakupu pierwszego budynku, Proximo I, nastąpiła w sierpniu 2017 roku.

Proximo II

Budynek Proximo II jest położony przy Przyokopowej 26 na warszawskiej Woli, w bezpośrednim sąsiedztwie stacji metra Rondo Daszyńskiego. Kaskadowo ułożony biurowiec oferuje najemcom 20 643 mkw. nowoczesnej powierzchni biurowej klasy A, mieszczącej się na 10 kondygnacjach. W budynku znajduje się 207 miejsc parkingowych na dwupoziomowym parkingu podziemnym oraz 12 miejsc na zewnątrz obiektu.

Architektem Proximo II jest renomowana brytyjska pracownia Rolfe Judd, która współpracowała z włoskim biurem projektowym Pininfarina w zakresie projektu lobby recepcyjnego. Inwestycja została zrealizowana zgodnie z wymogami certyfikatu ekologicznego BREEAM na poziomie „Excellent”.

Nowa dyrektor ds. zarządzania w regionie EMEA w firmie Cushman & Wakefield

Caroline Gardiner została dyrektorem ds. zarządzania na region EMEA w dziale globalnej obsługi najemców w międzynarodowej firmie doradczej Cushman & Wakefield.

W ostatnich trzech latach Caroline Gardiner pełniła funkcję doradcy w banku Citigroup, który znajduje się w gronie firm umieszczonych na liście Fortune 500. Jako dyrektor ds. projektów odpowiadała tam za globalny outsourcing usług zarządzania obiektami w 98 krajach w czterech regionach.

Caroline zdobyła bogate doświadczenie w dziedzinie zarządzania nieruchomościami i zajmowała wysokie stanowiska w sektorze bankowym. Była dyrektorem ds. projektów odpowiedzialnym za globalny outsourcing usług zarządzania w banku Barclays w trzech regionach i 54 krajach, a następnie awansowała na stanowisko tymczasowego dyrektora ds. zarządzania na cały świat. Wcześniej w banku HSBC uczestniczyła w stworzeniu zorientowanego na usługi modelu operacyjnego zarządzania nieruchomościami we współpracy z wieloma partnerami i była odpowiedzialna za wprowadzanie zmian i transformację biznesową.

Zanim związała się zawodowo z sektorem bankowym, Caroline zajmowała wysokie stanowiska kierownicze w koncernach specjalizujących się w usługach cateringowych dla firm, w Grupie Compass oraz Directors Table (fine dining) z grupy Sodexho – była odpowiedzialna za rozwój biznesu i wprowadzenie usług zarządzania obiektami.

James Maddock, dyrektor działu globalnej obsługi najemców w regionie EMEA firmy Cushman & Wakefield, powiedział: „Zarządzanie obiektami jest głównym obszarem naszej działalności. Nasi klienci, wśród których są największe firmy i organizacje świata, będą mogli skorzystać z bogatego doświadczenia Caroline w zakresie zarządzania oraz realizacji dla wiodących koncernów projektów związanych z transformacją biznesową i reorganizacją miejsc pracy”.

Caroline Gardiner dołączy do firmy Cushman & Wakefield jako Partner Międzynarodowy pod koniec bieżącego miesiąca. Dotychczasowy dyrektor i Partner Ian Gray pozostanie członkiem wyższej kadry kierowniczej oraz obejmie funkcję dyrektora ds. realizacji projektów na rzecz klientów koncentrując się na dalszym rozwoju obsługi klientów.

Steve Quick, dyrektor generalny działu globalnej obsługi najemców, powiedział: „Bardzo się cieszymy, że tak powszechnie szanowana specjalistka dołącza do naszego globalnego zespołu, w ramach którego będzie odpowiadała za rozwój innowacji, realizację projektów na rzecz klientów oraz nieustanne podnoszenie jakości świadczonych usług. Dzięki zaangażowaniu Caroline oraz wspieraniu najemców globalnych w regionie EMEA wzmocnimy nasz model funkcjonowania, a klienci uzyskają dostęp do najnowszych rozwiązań”.

Caroline Gardiner, nowa dyrektor ds. zarządzania obiektami w dziale globalnej obsługi najemców w regionie EMEA, powiedziała: „Korporacje coraz częściej decydują się na outsourcing części lub całości zadań związanych z zarządzaniem i eksploatacją obiektów. Sektor ten znajduje się obecnie na bardzo ciekawym etapie rozwoju, a zdobyta wiedza i wsparcie zespołu pomogą mi opracować strategię wzrostu, dostosować ofertę w skali globalnej oraz zwiększyć możliwości w zakresie inteligentnego i zintegrowanego zarządzania obiektami z korzyścią dla dotychczasowych i nowych klientów”.

Dział globalnej obsługi najemców w regionie EMEA firmy Cushman & Wakefield wspiera najemców w zakresie podejmowania przemyślanych decyzji biznesowych w celu optymalnego wykorzystania zajmowanej powierzchni.

Central European Service Center of Amway remains at MLP Pruszków I

Polish version below.

Access Business Group (Amway Supply Chain Services) has renewed its warehouse lease at MLP Pruszków I, where the warehouse facility of Amway Polska Sp. z o.o. is located. The tenant was represented by real estate advisory firm Cresa Poland.

Amway Polska, which represents the world’s no. 1 direct selling company, has been present in Poland since 1992. It sells beauty and home care products and dietary supplements, and supports business partners in their growth.

Amway Supply Chain Services is responsible for order logistics, including picking and shipping. The warehouse facility in Pruszków comprises approximately 3,800 sqm, of which approximately 400 sqm is office space.

“Thanks to the well-adapted warehouse space, the scheme’s excellent location and cooperation with the park’s managers, we are able to fulfil all orders for our seven markets within 24 hours,” said Maciej Drzymalski, Manager Operations of Central European Service Center at Amway Supply Chain Services.

Industrial park MLP Pruszków I is located in Pruszków, approximately 4 km from the A2 motorway (Berlin–Poznań–Warsaw) and 19 km from Warsaw’s city centre. It sits on 43 hectares of land and offers more than 170,000 sqm of warehouse and manufacturing space. Since its inception, MLP Pruszków I has developed its own internal infrastructure and may be called a small town. It also boasts a direct access to a railway siding.

“We are extremely pleased that a vast majority of our tenants, including Amway, regularly renew their leases and stay with us for longer. This is a confirmation that we have a very attractive and competitive offer on the market,” said Tomasz Pietrzak, Leasing Manager, MLP Group S.A.

“We presented various alternative options to the client, but MLP Pruszków I is unrivalled for its location and infrastructure,” said Katarzyna Bojanowicz, Business Development Director, Industrial & Warehouse Department, Cresa Poland.


Środkowoeuropejskie Centrum Dystrybucyjne firmy Amway pozostaje w MLP Pruszków I

Firma Access Business Group (Amway Supply Chain Services) przedłużyła umowę wynajmu powierzchni magazynowej w parku magazynowym MLP Pruszków I. Mieści się tam magazyn firmy Amway Polska Sp. z o.o. Najemcę reprezentowała firma doradcza Cresa Polska.

Amway Polska to przedstawiciel światowego lidera sprzedaży bezpośredniej. W Polsce jest obecna od 1992 roku. Celem firmy jest sprzedaż produktów kosmetycznych, suplementów diety i chemii gospodarczej oraz wsparcie rozwoju partnerów biznesowych.

Amway Supply Chain Services odpowiada za logistykę zamówień, w tym ich konfekcjonowanie i wysyłkę. Pruszkowski magazyn ma powierzchnię ok. 3800 mkw., w tym ok. 400 mkw. zajmuje biuro.

- Dzięki odpowiednio dostosowanej powierzchni magazynu, doskonałej lokalizacji i współpracy z kierownictwem parku wszystkie zamówienia dla 7 obsługiwanych rynków realizujemy w 24h – mówi Maciej Drzymalski, Dyrektor Operacyjny Środkowoeuropejskiego Centrum Dystrybucyjnego, Amway Supply Chain Services.

MLP Pruszków I to park magazynowy zlokalizowany w Pruszkowie, około 4 km od autostrady A2 (Berlin–Poznań–Warszawa), 19 km od centrum Warszawy. Park zajmuje 43 ha i oferuje ponad 170 tys. mkw. powierzchni magazynowo-produkcyjnej. Od momentu powstania park ten rozbudował własną infrastrukturę wewnętrzną tak, że może być nazywany małym miasteczkiem. MLP Pruszków I posiada bezpośredni dostęp do bocznicy kolejowej.

- Jesteśmy bardzo zadowoleni, że zdecydowana większość naszych najemców, w tym także Amway, systematycznie przedłuża umowy i pozostaje z nami na dłużej. Potwierdza to, że nasza oferta jest bardzo atrakcyjna, a jednocześniekonkurencyjna na rynku – podkreślił Tomasz Pietrzak, Leasing Manager w MLP Group S.A.

- Przedstawiliśmy klientowi różne opcje alternatywne, jednak MLP Pruszków I wygrywa swoją lokalizacją i dostępną na terenie parku infrastrukturą – mówi Katarzyna Bojanowicz, Dyrektor ds. Rozwoju Biznesu w Dziale Powierzchni Przemysłowych i Magazynowych w firmie Cresa Polska.

CMS focuses on transfer pricing

Polish version below.

CMS continues to develop its offer concerning transfer pricing consulting by strengthening the team with an expert with over 14 years of market experience. At the beginning of September this year Bartłomiej Wajda joined CMS, who as a counsel will head the transfer pricing practice within the tax team.

Bartłomiej Wajda, a Polish Certified Tax Advisor, for the last 12 years has worked in the tax teams of PwC, EY and KPMG, where he advised the largest Polish and international capital groups in the field of transfer pricing. He specialises in: the structuring of intra-group transactions and designing transfer pricing policies, verification of business restructurings (incl. exit fee payments), drafting transfer pricing documentation (Local file/Master file), and valuation of different flows (including benchmarking studies for tangible, intangible and financial transactions). Furthermore, Bartłomiej took part in negotiations of unilateral and bilateral advance pricing arrangements, MAP proceedings and in numerous tax audits concerning transfer pricing issues.

Bartłomiej is also experienced in profit allocation to permanent establishments, analyses of intangible transactions and supporting their business substance. In his professional career, he has supported clients from various sectors, including: automotive, FMCG, finance, electronics and pharmaceuticals.

"As CMS, we have been supporting clients in the field of transfer pricing for a long time, and now with the strengthening of the practice, we would like to offer our clients a dedicated team of fully specialised experts" - emphasises Andrzej Pośniak, partner managing CMS’s tax practice in Poland and in Central and Eastern Europe. “Advising on transfer pricing is another element – after strengthening our offer in the area of tax proceedings and M&A transactions – of our strategy to develop tax services in Poland and in the region”.

Another recent addition to the team is Radosław Byczyk, who has provided advisory services on transfer pricing to clients for almost 8 years. He specialises in international tax structures, including transfer pricing models for transactions carried out by taxpayers, as well as preparing transfer pricing policies. Radek also has extensive experience in preparing transfer pricing documentation and benchmarking studies (during his career he has prepared several hundred sets of documentation and analyses for various types of transactions). Before joining CMS, he worked for Polish and international (“Big Four”) consulting firms.

The CMS tax team was also recently strengthened by Paulina Karpińska-Huzior, a tax advisor and advocate, responsible for supporting clients in tax and penal tax proceedings, and Małgorzata Sajkiewicz, an advocate specializing in the tax aspects of M&A transactions.


Kancelaria CMS stawia na rozwój doradztwa w zakresie cen transferowych

Kancelaria CMS konsekwentnie rozwija ofertę doradztwa w zakresie cen transferowych, wzmacniając zespół ekspertem z ponad 14-letnim doświadczeniem rynkowym. Wraz z początkiem września br. do CMS dołączył Bartłomiej Wajda, który jako counsel pokieruje praktyką cen transferowych w ramach zespołu podatkowego kancelarii.

Bartłomiej Wajda, doradca podatkowy, przez ostanie 12 lat związany był z działami podatkowymi PwC, EY oraz KPMG, gdzie doradzał największym polskim i międzynarodowym grupom kapitałowym w zakresie cen transferowych. Do obszaru specjalizacji Bartka należy w szczególności: modelowanie transakcji wewnątrzgrupowych i kształtowanie polityki cen transferowych, analiza przeprowadzanych restrukturyzacji (w tym zasadności wypłaty –tzw. „exit fee” i jej wysokości), przygotowywanie dokumentacji cen transferowych (Local file/Master file) oraz wycena transakcji (w tym opracowywanie analiz porównawczych dla transakcji towarowych, licencyjnych, usługowych oraz finansowych). Ponadto, Bartek wspiera klientów w negocjacjach jednostronnych i dwustronnych uprzednich porozumień cenowych (APA), a także w postępowaniach w zakresie procedury wzajemnego porozumiewania się (MAP) oraz w licznych kontrolach podatkowych w obszarze cen transferowych.

Bartek posiada również doświadczenie w obszarze zagadnień związanych z alokacją zysku do zakładu zagranicznego (PE) oraz analizą transakcji niematerialnych wraz z uzasadnieniem ich substancji biznesowej.

W swojej karierze zawodowej wspierał klientów z rożnych sektorów, z branży motoryzacyjnej, FMCG, finansowej, elektronicznej oraz farmaceutycznej.

"Jako CMS od dawna wspieramy klientów w zakresie cen transferowych, teraz wraz ze wzmocnieniem praktyki, pragniemy zaoferować klientom dedykowany zespół w pełni wyspecjalizowanych ekspertów" - podkreśla Andrzej Pośniak, partner zarządzający praktyką podatkową CMS w Polsce i w Europie Środkowo-Wschodniej. „Doradztwo w zakresie cen transferowych to kolejny element - po wzmocnieniu naszej oferty w zakresie postępowań podatkowych i transakcji M&A - naszej strategii rozwoju usług podatkowych w Polsce i w regionie”.

W ostatnim czasie kancelaria CMS pozyskała także Radosława Byczyka, który od blisko 8 lat doradza klientom w zakresie cen transferowych. Specjalizuje się w tworzeniu oraz opiniowaniu międzynarodowych struktur podatkowych, w tym modeli cen transferowych dla transakcji realizowanych przez podatników, a także opracowywaniu polityk cen transferowych. Radek posiada również bogate doświadczenie w zakresie przygotowywania dokumentacji cen transferowych oraz analiz porównawczych (w swojej dotychczasowej karierze przygotował kilkaset dokumentacji oraz analiz dla zróżnicowanych typów transakcji). Przed rozpoczęciem współpracy z CMS pracował zarówno w polskich firmach doradczych, jak również w międzynarodowych, należących do tak zwanej „Wielkiej czwórki". 

Zespół podatkowy CMS wzmocniły także ostatnio Paulina Karpińska–Huzior, doradca podatkowy i adwokat, odpowiedzialna za wsparcie klientów w zakresie postępowań podatkowych i karno – skarbowych, oraz Małgorzata Sajkiewicz, adwokat, specjalizująca się w zakresie podatkowych aspektów transakcji M&A.

Praktyka podatkowa CMS zarządzana przez ostanie 2 lata przez Andrzeja Pośniaka, partnera i doradcę podatkowego, jest jednym z największych zespołów prawników podatkowych funkcjonujących w ramach międzynarodowych kancelarii na polskim rynku.  Prawnicy podatkowi CMS wspierają klientów w pełnym zakresie doradztwa podatkowego, w tym w zagadnieniach związanych z cenami transferowymi, podatkiem VAT, CIT, PIT, w zakresie kontroli i postępowań podatkowych, aspektów podatkowych struktur joint venture/konsorcjum, planowania podatkowego i korporacyjnego na potrzeby transakcji międzynarodowych, restrukturyzacji firm międzynarodowych, jak również transakcji połączeń i przejęć. Praktyka podatkowa CMS wspiera również inne zespoły kancelarii ekspertyzą podatkową, ale przede wszystkim posiada własne bogate doświadczenie i historię unikalnych w skali naszego rynku projektów, z których większość to zlecenia pozyskane niezależnie od prac wykonywanych przez inne zespoły kancelarii.  Doświadczenie zespołu obejmuje także doradztwo dla inwestorów zagranicznych planujących nowe inwestycje w Polsce i w Europie Środkowo – Wschodniej oraz doradztwo prawno–podatkowe w transakcjach M&A zarówno po stronie kupujących, sprzedających, jak i firm ubezpieczeniowych (W&I) zapewniających zabezpieczenie ryzyk w transakcjach M&A.

Kraków remains strong on the Polish office market

Krakow retains the crown as Poland’s largest regional office market as it saw its office stock rise by 17% in the past year to 1.16 million sqm, says real estate advisory firm Cresa in its latest report “Occupier Economics: Office Market in Krakow in H1 2018”.

In the first half of 2018, total leasing activity amounted to 77,200 sqm, down by 21% compared to last year, most of which was transacted under new leases (58.3%). Key lease transactions included State Street’s nearly 9,000 sqm lease at .BIG, the 8,500 sqm renegotiation by BGŻ BNP PARIBAS at Avatar and the National Science Centre’s nearly 5,500 sqm lease at Moon Office.

“Krakow’s economic and scientific potential continues to attract firms from the business services sector, making the city one of Europe’s leading BSS locations. Strong development activity keeps office rents stable and tenants enjoy an increasingly wide choice of attractive office space. Due to Krakow’s urban features, office buildings are well dispersed across the city with most office buildings located along dual carriageways,” said Karolina Słysz, Business Development Coordinator in the Krakow office of Cresa Poland.

Nearly 60,000 sqm of office space was delivered across nine schemes in the first six months of the year, including Echo Investment’s O3 Business Campus III (19,200 sqm), Skanska’s High5ive 1 (11,300 sqm) and Skanska’s High5ive 2 (9,300 sqm).

The city’s vacancy rate has been steadily rising for the last five years, now at 9.3%. Headline rents stand at EUR 13-14.50/sqm/month in Krakow’s city centre and at EUR 10-14/sqm/month in non-central locations.

In the first half of 2018, absorption hit nearly 60,000 sqm, up by more than 6% on the same period last year. The Occupier Sentiment Index in Poland rose by 33 points year-on-year, reaching a level of 24 points, which bodes well for further rapid expansion of the Krakow office market,” said Bolesław Kołodziejczyk, PhD, Head of Research & Advisory, Cresa Poland.

Click here to view the report in Polish.

Tricity office market is booming

Polish version below. 

Gdansk, 5 September 2018 – Office supply on the Tricity market keeps breaking new records with the average annual growth at 9% for the last five years. Tricity is currently Poland’s third-largest regional office market (excluding Warsaw) and continues to strengthen its position.

“Tricity is more and more effectively taking advantage of its port facilities. The highest concentration of office development activity is in Gdansk Oliwa, but developers are likely to shift their focus next year to other areas of Gdansk and Gdynia. Tricity, which provides a unique climate and lifestyle, attracts many companies and guarantees an excellent business environment for global corporations opening shared services centres in the region, and is a hub for the IT sector,” said Bartek Włodarski, Partner, Head of the Office Department, Corporate Solutions, Cresa Poland.

The Tricity office market after H1 2018

According to “Occupier Economics: Office Market in Tricity, H1 2018”, the latest report prepared by Cresa Poland, Tricity’s office market comprises 747,000 sqm, which represents a rise of more than 15% year-on-year compared to an increase of approximately 5% for Warsaw. With its 45,700 sqm of office space, Olivia Star accounted for the biggest share of this year’s supply. As in the case of other office projects in Tricity, Olivia Star had been largely pre-let before it was delivered to the market.

Modern office take-up amounted to only 25,900 sqm compared to 71,800 sqm transacted in the first six months of 2017. New leases accounted for 56% of the leasing activity while expansions and renegotiations made up 25.5% and 18.5% of the transaction volume, respectively.

In H1 2018, absorption hit 56,100 sqm, up by 81% on the same period last year. Tricity’s vacancy rate fell from 7.8% to 6.7%, Poland’s lowest.

Reasons for the boom

There are several objective and overlapping reasons for the growing interest in Tricity, and particularly in Gdansk. First of all, the ports in Gdynia and Gdansk saw record transshipment volumes, but their potential is estimated to be much higher. Maritime trading companies chose to establish headquarters or offices in Tricity. High-class office space was also sought after by services and audit companies and – increasingly more so – by the IT sector. Gdansk has a reputation for being an excellent city to live in, and an office near its historic city centre is not only prestigious, but also facilitates talent recruitment. Tricity is also being targeted by many businesses from Scandinavia and Western Europe that want to have their offices here.

Click here to view the full report.

Trójmiasto na fali biurowej hossy

Trójmiejski rynek nieruchomości biurowych bije kolejne rekordy podaży – przy średniorocznej dynamice wzrostu w okresie ostatnich 5 lat na poziomie 9%. Jest to obecnie trzeci największy rynek powierzchni biurowej w kraju wśród miast regionalnych (nie licząc Warszawy) i ta pozycja systematycznie się umacnia.

- Miasto coraz skuteczniej korzysta ze swojego zaplecza portowego. Obecnie budowa biur koncentruje się w Gdańsku Oliwie, jednak już od przyszłego roku aktywność deweloperska przeniesie się w inne rejony Gdańska oraz Gdyni. Trójmiasto, tworząc niepowtarzalny klimat oraz lifestyle, przyciąga wiele firm i tworzy doskonałe zaplecze światowych korporacji dla centrów usług wspólnych oraz hub dla branży sektora IT – mówi Bartek Włodarski, Partner, Dyrektor działu Reprezentacji Najemców Biurowych oraz Klientów Korporacyjnych w firmie Cresa Polska.

Trójmiejski rynek nieruchomości biurowych po I połowie 2018 r.

Według najnowszego raportu Cresa Polska: „Occupier Economics: Rynek biurowy w Trójmieście, I połowa 2018 roku” zasoby nowoczesnej powierzchni biurowej w Trójmieście wzrosły do 747 000 mkw. Oznacza to bardzo wysoki, ponad 15% procentowy, wzrost rok do roku (dla porównania – w Warszawie ok. 5%). Największy udział w tegorocznej podaży miał biurowiec Olivia Star (45 700 mkw.). Podobnie jak inne inwestycje biurowe w Trójmieście został on w dużej części wynajęty przed oddaniem do użytku.

W pierwszej połowie br. podpisano umowy na jedynie 25 900 mkw., wobec 71 800 mkw. odnotowanych w pierwszych sześciu miesiącach 2017 r. W 56% były to umowy nowe, w 25,5% ekspansje, a w 18,5% renegocjacje.

Absorpcja w pierwszej połowie br. wyniosła aż 56 100 mkw., co oznacza wzrost o 81% wobec analogicznego okresu 2017 roku. Stopa pustostanów w Trójmieście spadła z 7,8% do bardzo niskiego poziomu 6,7% (najniższy wynik w kraju).

Przyczyny hossy

Wzrost zainteresowania Trójmiastem, a zwłaszcza Gdańskiem, wynikał z kilku obiektywnych, nakładających się na siebie przyczyn. Przede wszystkim oba porty – w Gdyni i w Gdańsku, odnotowały rekordowe wartości przeładunków, a ich potencjał oceniany jest jako znacznie wyższy. Przedsiębiorstwa obsługujące handel morski decydowały się na utworzenie siedzib lub oddziałów w Trójmieście. Oprócz nich o wysokiej klasy biura zabiegały też spółki usługowe, audytowe i w coraz większej skali – sektor IT. Gdańsk ma opinię miasta, w którym warto mieszkać, a posiadanie biura w pobliżu historycznego centrum jest nie tylko prestiżowe, ale też ułatwia przyciągnięcie wykwalifikowanych pracowników. Trójmiasto stało się wreszcie celem dla wielu przedsiębiorstw ze Skandynawii i zachodniej Europy, które chcą mieć tu swoje przedstawicielstwa.

Kliknij tutaj  żeby przeczytać cały raport. 

Fulbright-Hays Seminars Abroad Program in Kraków

In July, 2018, 16 scholars representing 16 American higher education institutions arrived in Poland to participate in the Fulbright-Hays Seminars Abroad Program. Upon completing the seminar, the participants are expected to prepare curriculums regarding chosen aspects of their experience in Poland and run them for their students in upcoming academic year.

During a four-week program in Poland they visited Kraków - HQ of Motorola Solutions (July 27, 2018). The group had the opportunity to exchanging experiences with Motorola experts and know company inside.

Piąte biuro Cresa w Polsce

Cresa, największa na świecie firma doradcza na rynku nieruchomości komercyjnych świadcząca usługi agencyjne wyłącznie na rzecz najemców, otworzyła biuro w Krakowie.

Cresa posiada już w Polsce pięć biur: w Warszawie, Wrocławiu, Trójmieście, Łodzi i Krakowie. Krakowskie biuro mieści się w biurowcu High5ive przy ul. Pawiej 9.

- Cieszę się, że kolejne sukcesy naszej firmy pozwalają nam zainwestować w jej rozwój. Chcemy być jak najbliżej klientów, ponieważ rośnie zapotrzebowanie na obiektywne i niezależne usługi w zakresie reprezentacji najemców korporacyjnych. Cieszymy się zaufaniem wielu firm, stąd decyzja o naszej obecności w Krakowie – mówi Piotr Kaszyński, Partner Zarządzający Cresa Polska.

High5ive znajduje się w sąsiedztwie Dworca PKP Kraków Główny, co sprawia, że jest to najlepiej skomunikowana inwestycja biurowa w Krakowie. Docelowo kompleks będzie miał pięć budynków o łącznej powierzchni najmu sięgającej 70 000 mkw. Inwestycja realizowana jest przez firmę Skanska. Biuro Cresa Polska mieści się w budynku nr 1, który został oddany do użytku w ramach I etapu.  

- Kraków niezmiennie znajduje się na tzw. krótkiej liście najlepszych lokalizacji dla firm wchodzących do Polski. Jest on drugim największym ośrodkiem akademickim i najsilniejszą destynacją turystyczną w kraju. Miasto jest liderem w sektorze nowoczesnych usług biznesowych. Wysokie zainteresowanie najemców i deweloperów sprawia, że Kraków jest drugim (po Warszawie) największym pod względem podaży i popytu rynkiem biurowym w Polsce – mówi Bartek Włodarski, Partner, Dyrektor działu Reprezentacji Najemców Biurowych oraz Klientów Korporacyjnych w firmie Cresa Polska.


Cresa jest największą na świecie firmą doradczą na rynku nieruchomości komercyjnych świadczącą usługi agencyjne wyłącznie na rzecz najemców i specjalizującą się w dostarczaniu kompleksowych rozwiązań w zakresie nieruchomości. Prowadzi działalność w ponad 80 biurach na całym świecie. Cresa Polska oferuje obiektywne i niezależne usługi doradcze na rynku nieruchomości komercyjnych. Firma zapewnia kompleksowe usługi agencyjne w zakresie reprezentacji najemców pozbawione ryzyka konfliktu interesów, jak również obsługi transakcji na rynkach kapitałowych, badań rynku i doradztwa, wycen nieruchomości, projektowania i zarządzania projektami oraz workplace strategy. Siedziba firmy Cresa Polska mieści się w Warszawie. Biura regionalne znajdują się we Wrocławiu, Trójmieście, Łodzi i Krakowie. Więcej informacji na

TK Maxx staying put at Sarni Stok Shopping Mall

Clothing chain TK Maxx has extended its lease for 2,445 sq.m of space at the Sarni Stok Shopping Mall in Bielsko-Biała. TK Maxx at the Sarni Stok Shopping Mall is the only outlet of that well-known brand in the Podbeskidzie Region of Poland. A renovation of the premises has been scheduled for August of this year. Cushman & Wakefield is responsible for management and commercialisation of the mall. Agnieszka Ługowska, Cushman & Wakefield commented: “TK Maxx has been at the Sarni Stok Shopping Mall since 2009, and the extension of the lease by another term demonstrates that it was the right decision to go with this particular location. This is the only outlet of that popular brand in the region, and so it is frequented in large numbers not only by shoppers from Bielsko-Biała but also from across the region as well as the Czech Republic.”

The highest supply in three years and 40% of this year’s new openings in cities below 100,000 inhabitants

Global real estate services firm Cushman & Wakefield has published another edition of its MarketBeat report on the Polish retail market. More than 180,000 sq m of retail space was added to the market in H1 2018 and another 330,000 sq m is expected to be completed by year-end 2018. This will represent an increase of over 25% year-on-year (yoy), bringing Poland’s total retail stock to more than 14,800,000 sq m. The new supply will be concentrated in cities with fewer than 100,000 inhabitants, accounting for 40% of this year’s openings.

Read more at:

Wierzbowski Eversheds Sutherland advises the founders in Abris Capital Partners investment in Polish fillers and cosmeceuticals producer

The Wierzbowski Eversheds Sutherland Private Equity team in Warsaw has acted on the sell side on Abris Capital Partners’ acquisition of shares in the leading fillers and cosmeceutical manufacturer ITP S.A., well-known on the local market for soft tissues fillers for its Neauvia brand.

ITP S.A., based in Warsaw, has five subsidiaries in Italy, Germany, Poland and Switzerland. Apart from manufacturing fillers and cosmeceutical products in Italy and Switzerland, ITP S.A. also distributes medical devices to health and beauty clinics and wellness equipment to fitness centers.

The signed deal marks the significant buyout from third Abris CEE Mid Market Fund, which was raised in 2018. Abris Capital is an accomplished private equity investor, focusing exclusively on equity investments in Central and Eastern European countries. Abris Capital Partners was established in 2007 to pursue mid-size, growth-oriented investments in Poland and other CEE countries.

ITP S.A. was founded in Poland in 2006, by Gabriel Drigo, Dominik Śliwowski and others, as a biomedical distributor company. It has since created its own R&D and its own products and devices—Neauvia, Zaffiro and ITP Cosmeceuticals—and become one of the leading soft tissues fillers and cosmeceuticals manufacturers in Poland, with its own brands, as well as a distributor of wellness equipment and medical devices across Europe and globally.

The team advising the founders included partners Michał Karwacki(head of PE & VC), Ewa Szlachetka (head of M&A and capital markets), counsel Renata Patoka, counsel Anna Derdak (head of tax), senior associate Natalia Burchardt, associates Marek Tołcz and Zofia Piekarczyk.

Michał Karwacki, who joined the firm as a partner in April 2018, is responsible for the growth of the private equity and venture capital practice at Wierzbowski Eversheds Sutherland. He has over 18 years of experience providing legal advice to businesses in the M&A departments of international law firms. The team he heads offers comprehensive legal support for investments by private equity and venture capital funds in portfolio companies and in exiting investments, with a particular emphasis on companies from the sectors of new technologies, innovative products, cosmetics, foods, TMT and FMCG.

New head of compliance practice at Wierzbowski Eversheds Sutherland

In July 2018, Paweł Stykowski joined Wierzbowski Eversheds Sutherland as the new head of the regulatory risk and compliance team.

Paweł Stykowski specializes in financial services law, particularly insurance law and the law of financial instruments. He also handles consumer protection and compliance issues.

He has 11 years of experience providing legal advice to the insurance and banking industry. Before joining Wierzbowski Eversheds Sutherland, he served as director of the legal department and compliance officer at an insurance company. Earlier, he advised financial institutions as outside counsel and as an in-house lawyer.

Paweł works for leading companies from the financial sector. He is involved in implementation of new legal regulations and recommendations of the Polish Financial Supervision Authority (Insurance Distribution Directive, General Data Protection Regulation, amended Anti Money Laundering and Counter Terrorist Financing Act). He advises on selection and implementation of insurance distribution models (sales by internet, phone, bancassurance and affinity). He drafts and reviews general and specific terms & conditions of insurance, insurance policies and related documents. He represents clients in proceedings before the Polish Financial Supervision Authority, the Office of Competition and Consumer Protection, the General Inspector of Financial Information, the Financial Ombudsman and the courts.

Paweł is an honors graduate of the Faculty of Law and Administration at the University of Warsaw, where he completed a one-year course in US law at the American Law Center in conjunction with the University of Florida. He also completed a year-long course in the UK in the Erasmus program, earning a diploma from Cardiff University Law School. He is also a political science graduate of the Institute of International Relations at the University of Warsaw.

According to Tomasz Zalewski, managing partner of Wierzbowski Eversheds Sutherland, “The development of compliance advisory services is one of the key elements in the strategy of both the Warsaw office and Eversheds Sutherland as a whole. This is a response to the constantly growing demand of clients who are increasingly aware of the great value of a well-functioning compliance system in the context of business risk minimization, the rapidly growing number of regulations, and increasingly demanding regulators. The practice provides multidisciplinary advice in many areas of law covering all compliance requirements. We support clients in connection with the challenges resulting from the rapidly changing legal and business environment and operations in the digital world. We have the pleasure of working for leading entities from regulated sectors. I am glad that thanks to such an experienced specialist, we will be able to significantly expand the offer of advisory services for the financial sector, which continues to set standards for compliance.”

Paweł Stykowski commented: “Financial institutions will have to deal with the next regulatory tsunami. They need the specialized advice of professionals knowledgeable of the specifics of their industry. I am excited that along with the team from Wierzbowski Eversheds Sutherland, known for outstanding experience working for the financial sector, we will be even better able to meet our clients’ needs.”

One of the key experts in the regulatory risk and compliance team is Paweł Dudojc who develops the practice in the areas of FinTech, RegTech, as well as compliance, including advice in such areas as anti-corruption, AML and CTF.

AmCham Patronage of "Buy a Book" Fair in Wrocław

„Buy a Book” – a book fair with the mission of helping

For the 8th time already on 31st of August and 1st of September in Magnolia Park in Wroclaw there will take place an exceptional charity book fair for the Wroclaw Children Hospice Foundation. Again the main organizer of the event is Hewlett Packard Enterprise Wroclaw Center, in cooperation with the Foundation and ABSL (Association of Business Services Leaders in Poland).

The charity book fair ‘Buy a Book’ 2018 edition will be held on 31st of August and 1st of September in Magnolia Park in Wroclaw. The idea is simple: for 5 PLN, 10 PLN, 15 PLN or more, you can choose a book, a comic book or an audiobook – a real treat for reading enthusiasts! All those items are earlier collected among Wroclaw companies’ employees and donated on account of the ‘Buy a Book’. The beneficiary of this initiative is Wroclaw Children Hospice Foundation and all funds gathered during the event are dedicated to fulfilling the Foundation’s statutory goals.

The event is organized in cooperation of the ABSL, the Foundation and Wroclaw companies representing business services sector since 2013, and so far thanks to ‘Buy a Book’ editions over 100 000 PLN was collected to improve the quality of life, including rehabilitation, of the children under Foundation's care. Almost 100 volunteers worked during the 2017 edition, and more than 50 companies and organizations from Wroclaw were engaged in its organization.

On account of the 8th edition of the ‘Buy a Book’, aside from the traditional book fair, the organizers are introducing online charity auction via ‘Charytatywni Allegro’ where there will be many unique books available to purchase and the same support the good cause. We encourage you to follow current information on the action on the event’s Facebook profile:

It’s worth highlitening that the ‘Buy a Book’ event in 2018 has the Honorary Patronage of Mayor of Wroclaw, as well as Patronage of Wrocław Agglomeration Development Agency (ARAW), Wrocław Women's Council, American Chamber of Commerce and Europa Forum.

As the event’s Patron, American Chamber of Commerce would like to encourage you to support the 8th edition of the ‘Buy a Book’ charity event, as well as already save the dates of 31st of August and 1st of September to join the event in Magnolia Park.

Poland ranked 9th globally for corporate compliance complexity in TMF report

• Most complex jurisdiction in Europe according to new TMF Group report
• UAE at no. 1 is most complex, Ireland at 84th has the simplest compliance regime

When it comes to corporate compliance, no place in Europe is more complicated than
Poland, according to a new report by TMF Group – a leading provider of business services
to clients operating and investing globally.

The country is ranked 9th in the Compliance Complexity Index 2018, which assesses 84
jurisdictions globally, based on how difficult it is for companies to adhere to local business
regulations and associated issues. These include the time taken to set up, and comply with
reporting requirements.

The UAE at number one is most complex, followed by Qatar and China. Ireland is the
simplest jurisdiction in 84th position.

Jakub Plewka, head of corporate secretarial services at TMF Poland, commented:
“Poland’s reputation as a European growth engine shows no signs of slowing. But foreign
companies looking to establish here face many hurdles. The most common of these are long
set up times, particularly if there are multiple shareholders and they are based abroad.

“All company documents and some electronic procedures must be completed in Polish. And
while Poland has one legal system, the courts in different cities can interpret laws differently,
resulting in an inconsistent approach to reporting and enforcement.”

The 10 most complex countries for corporate compliance

1) UAE
2) Qatar
3) China
4) Argentina
5) Malaysia
6) Lebanon
7) Brazil
8) Vietnam
9) Poland
10) Uruguay

TMF Poland managing director Mikolaj Plucinski added: “Poland has made efforts to
simplify its regulatory framework in recent years. But global trends towards financial
transparency, and increased compliance obligations add a high number of acronyms to the
pile for company heads and their legal teams. These include BEPS (base erosion and profit
shifting), CRS (common reporting standard), AMLD5 (anti-money laundering directive), UBO
(ultimate beneficial owner) and GDPR (general data protection regulation).

“That’s why we recommend businesses take steps to truly understand the corporate
compliance landscape, and work with local partners – such as TMF Poland – to give them
the right knowledge for success.”

To download the full report, please visit

CMS lawyers advise Abris Capital Partners on aesthetic medicine market transaction

CMS advises Abris CEE Mid-Market III LP on its investment in ITP S.A., operating in the aesthetic medicine industry. The fund, through its subsidiary NEPT Holdings S. a r.l., signed the share purchase agreement relating to the acquisition of a strategic stake in ITP. S.A. from its founders.

Abris Capital Partners has been managing private equity funds since 2006. According to Abris, the acquisition of shares in ITP S.A. is the fifth investment from the EUR 500 million fund secured in autumn 2017 from international investors. 

ITP S.A. specializes in the provision of state-of-the-art technology and global brands in the area of aesthetic medicine, medical devices and wellness equipment. It owns the Neauvia brand – the new generation of tissue fillers with hyaluronic acid and professional cosmeceutical lines, sold in more than 45 countries. 

The private equity fund is being advised by an international team of CMS lawyers including Rafał Zwierz and Graham Conlon (partners) and Olga Czyżycka, senior associate. In addition to experts from the Warsaw office, the team includes transactional lawyers from CMS’s Milan, Geneva and Berlin offices.

White & Case Advises on Poland's Largest Private Share Issue In 2018

Warsaw, July 26, 2018. Global law firm White & Case LLP has advised Bank Zachodni WBK S.A., as a global coordinator and bookrunner, on the issue of 286,624,204 new shares in Globalworth Poland Real Estate N.V., part of a private issue with a total value of €450 million.

The deal represents the largest private share issue in Poland during 2018 to date.

Globalworth Poland Real Estate, previously Griffin Premium RE. N.V., is a Polish office real estate platform, listed on the Warsaw Stock Exchange since April 2017. The company will use the proceeds from the private issue for the purchase of new real estate, repayment of certain loans or credits, and for general corporate purposes.

The White & Case team in Warsaw which advised on the transaction included partner Marcin Studniarek, local partner Rafał Kamiński and associate Monika Dużyńska. Lawyers from the White & Case office in London also advised on the deal.



Warszawa, 26 lipca 2018, Globalnakancelaria prawna White & Case doradzała bankowi Bank Zachodni WBK S.A., pełniącemu funkcję globalnego koordynatora i zarządzającego księgą popytu, w związku z emisją 286,624,204 nowych akcji Globalworth Poland Real Estate N.V. w ramach emisji prywatnej o łącznej wartości 450 mln EUR.

Globalworth Poland Real Estate N.V. (dawniej Griffin Premium RE.. N.V.) to polska platforma nieruchomości biurowych, od kwietnia 2017 roku notowana na Giełdzie Papierów Wartościowych w Warszawie. Wpływy z emisji prywatnej zostaną przez spółkę wykorzystane na zakup nowych nieruchomości, spłatę określonych pożyczek lub kredytów oraz na ogólne cele korporacyjne.

W skład zespołu doradzającego przy transakcji weszli: Marcin Studniarek, partner, Rafał Kamiński, partner lokalny oraz Monika Dużynska, associate z warszawskiego biura White & Case wspierani przez prawników z biura w Londynie.

ManpowerGroup Global Talent Shortage Survey: Talent Shortages at Record High: 45% of Employers Around the World Report Difficulty Filling Roles

Employers around the world are facing the most acute talent shortage since 2006, according to the latest Talent Shortage Survey, released today by ManpowerGroup (NYSE: MAN). Of the almost 40,000 employers surveyed, 45% are struggling to fill roles, with skilled trades workers, sales representatives and engineers the most difficult to find.


Employers in Japan (89%), Romania (81%) and Taiwan (78%) report the most difficulty filling positions as populations age, skills needs shift, and organizations struggle to find the right blend of technical skills and human strengths. In a Skills Revolution where new skills emerge as fast as others become obsolete 27% of employers say applicants lack either hard or soft skills. Employers are placing greater importance on transferable soft skills as roles adapt, more than half of employers say communication skills – written and verbal – are their most valued soft skills, followed by collaboration and problem solving.


View complete 2018 Talent Shortage Survey results:


"With record talent shortages around the world, it's no longer a question of simply finding talent; we need to build it," said Jonas Prising, ManpowerGroup Chairman & CEO. "New assessments, big data and predictive performance mean employers have the best tools to identify adjacent skills, help people shift into emerging roles and create clear career paths. We know talent shortages are not going to fix themselves. Organizations need to accelerate efforts to upskill and reskill employees for the new world of work so companies succeed and people have employment security for the long term."


ManpowerGroup asked 39,195 employers across 43 countries and territories how much difficulty they are having filling roles, which skills they are struggling to find and what they are doing to solve talent shortages.


EMEA: Ireland (18%), the UK (19%) and the Netherlands (24%) are experiencing the least difficulty filling jobs. The worst affected markets in Europe are Romania at 81%, up 9 percentage points, and Bulgaria, up 6 percentage points since 2016.

APAC: The Asia Pacific region is suffering the most acutely from talent shortages, with five of the top 10 worst affected markets in the survey: Japan, Taiwan, Hong Kong, Singapore and India. In Japan, the number of employers reporting difficulty continues to grow, currently standing at 89% - the highest reported globally.

Americas: Argentina is suffering from the most severe talent shortage in the region at 52%. In Brazil 34% of employers report difficulty. Mexico faces the biggest increase in hiring difficulty, jumping from 40% to 50% since 2016. Brazil, Colombia and Argentina have experienced the greatest improvement in talent shortages since 2016. The number of U.S. employers experiencing talent shortages has grown from 32% in 2015 to 46% in 2018 – just above the global average.


Global talent shortages are at the highest level in 12 years. ManpowerGroup calls for new solutions to the growing talent problem: Build, Buy, Borrow, Bridge


BUILD. Invest in learning and development to grow the talent pipeline and upskill the existing and potential workforce.

BUY. In a tight labor market, go to the external market to find the best talent that cannot be built in-house in the timeframe required to fill immediate openings.

BORROW. Cultivate communities of talent inside and outside the organization including part-time, freelance, contract and temporary workers to complement existing workforce.

BRIDGE. Help people move on and move up to new roles inside or outside the organization.


For more details on the talent shortages around the world, including an interactive data explorer tool, visit


Polacy na zakupach: 5 filarów nowoczesnego handlu

Na naszych oczach sektor handlu dynamicznie się rozwija. Jednocześnie zmienia się sposób robienia zakupów oraz podejście sprzedawców do obsługi klienta. Firma PwC w najnowszym raporcie opisuje potrzeby, cechy i wyróżniki polskiego konsumenta. Zbadała także jego preferencje i sprawdziła, za pośrednictwem jakich kanałów dokonuje zakupów.  W raporcie znajdują się odpowiedzi na następujące pytania: 

• Czym wyróżnia się polski konsument i jak lubi kupować? 

• Czy handel wkrótce przeniesie się do internetu? 

• Jak budować markę w dobie influencerów i mediów społecznościowych? 

• Jak zakaz handlu w niedzielę wpłynie na zachowania zakupowe Polaków? 

• W jakie obszary działalności powinni zainwestować przedsiębiorcy? 

• Czy nowe technologie i sztuczna inteligencja zrewolucjonizują handel?

PwC wyróżniło pięć filarów handlu, które stanowią podstawę do budowania nowoczesnego, atrakcyjnego i godnego zaufania biznesu. Takiego, który potrafi sprostać najnowszym wyzwaniom rynkowym i odpowiada na oczekiwania klientów. Raport jest do przeczytania na stronie

CMS Poland nominates two new Counsels

AmCham member company and top international law firm CMS has nominated two new counsels: Michał Andruszkiewicz from the energy practice and Rafał Kluziak from the M&A team. Both nominations became effective on 1 July 2018.

 Our counsels have been promoted in recognition of their skills and experience. The promotions are also related with the development plans for the practices represented by the new counsels" – emphasises Małgorzata Surdek, Managing Partner at CMS Poland.

Michał Andruszkiewicz specialises in the provision of advisory services for the energy and chemical sector. He has provided comprehensive support for clients with respect to various legal aspects related to carrying out business activity in these sectors for over 10 years.

Rafał Kluziak has been specialising in transactional advisory services, corporate law and capital markets for 8 years. His experience includes advising on private and public M&A transactions, tender offers, public offerings and funds. Thanks to his combined M&A and capital markets expertise, Rafał provides his clients with comprehensive support in dual track processes and acquisitions related to delisting plans.


ManpowerGroup Employment Outlook Survey: Polish employers report the most optimistic forecast in nearly 8 years

The ManpowerGroup Employment Outlook Survey for the third quarter 2018 released today by ManpowerGroup in Poland identifies hopeful hiring intensions of Polish employers. With 18% of employers expecting to increase staffing levels, 3% forecasting a decrease and 77% anticipating no change. Once the data is adjusted to allow for seasonal variation, the Outlook stands at +13%. When compared with 3Q 2017, the Outlook is 5 percentage point stronger, while employers report relatively stable hiring prospects quarter-over-quarter.

− With each quarter, we are observing more and more optimistic employment forecasts declared by Polish employers. This is the effect of the ever-increasing stability of the labor market, which is supported by the rapid pace of the economy's development and the good macroeconomic data resulting from it – said Iwona Janas, Country Manager ManpowerGroup in Poland. − Employers from the Manufacturing sector are anticipating the strongest level of hiring activity in the upcoming quarter. Polish data on employment in this sector are growing against the background of Europe and the forecast declared by Polish employers is among the most optimistic across the 26 analyzed markets from the region of Europe, the Middle East and Africa. The good streak on the Polish labor market will also continue in the other analyzed sectors. Although the forecast for Poland is the strongest in nearly 8 years, Polish employers are still struggling with the problem of talent shortage and, consequently, vacancies. Access to a quality stream of human capital is essential to the competitiveness of enterprises. – adds Iwona Janas.

Manufacturing industry on the top

Payroll gains are anticipated in all 10 industry sectors during the July-September period. Manufacturing sector employers report the strongest hiring prospects with a healthy Net Employment Outlook of +23%. Elsewhere, a steady hiring pace is forecast for the Construction and the Mining & Quarrying sector with an Outlook of +16% respectively, while an Outlook stand at +14% in the Restaurants & Hotels sector.

Employers report cautiously optimistic hiring plans in the Electricity, Gas & Water Supply and the Finance & Business Services with an Outlook of +10% respectively, and in the Transport, Storage & Communication sector, where the Outlook is +9%. The weakest hiring prospects report employers in the Agriculture, Hunting, Forestry & Fishing sector and the Public & Social where Outlooks stand at +3% respectively.

Quarter-over-quarter, hiring intentions strengthen in four of the 10 industry sectors, most notably by 5 percentage points in the Mining & Quarrying sector. Wholesale & Retail Trade sector employers report an improvement of 4 percentage points while the Outlook for the Electricity, Gas & Water Supply sector and the Construction is 3 and 2 percentage points stronger respectively. Meanwhile, Outlooks weaken in five sectors, including the Agriculture, Hunting, Forestry & Fishing sector where employers report a slight decline of 3 percentage points.

Hiring prospects weaken in three of the 10 industry sectors when compared with the third quarter of 2017. Decreases of 4 percentage points is reported in the Wholesale & Retail Trade, while the Outlook for the Construction and the Public & Social sector is 1 percentage points weaker. Elsewhere, hiring plans improve in five sectors. Manufacturing sector employers report the most noteworthy increase of 18 percentage points while Outlooks are 10 percentage points stronger in the Electricity, Gas & Water Supply, the Finance & Business Services and the Mining & Quarrying.

Employers in the North report the most optimistic Outlook

Employers in all six regions expect to grow staffing levels during the coming quarter. The strongest labor market anticipated in the North, where the Net Employment Outlook of +15% is the strongest in more than nine years. Employers in the East and in the South-West also expect steady job gains, reporting an Outlook of +14%.The weakest regional Outlooks of +9% are reported in the Central and in the South.

Quarter-over-quarter, hiring prospects improve in 4 of the 6 sectors. Employers in the East, the North and the North-West report slight increase of 3 percentage points. However, hiring intensions weaken in the Central and the South of 3 percentage points.

Year-over-year, hiring intentions strengthen in 5 of the 6 sectors. A considerable increase of 11 percentage points is reported in the North, while employers report an improvement of 9 percentage points in the East. Elsewhere, hiring intensions are 8 percentage points stronger in the North-West, and improve by 4 percentage points in the South-West.

Participating employers are categorized into one of four organization sizes: Micro, Small, Medium and Large businesses. Employers in all four organization size categories expect to increase staffing levels during the coming quarter. The strongest hiring prospects are reported by Large employers with a Net Employment Outlook of +26%, while Outlooks stand at +13% in the Medium-size categories, at +5% in the Small, and also at +7% in the Micro-size.

Japan and Taiwan with the strongest hiring plans

ManpowerGroup interviewed nearly 60,000 employers across 44 countries and territories to forecast labor market activity in 3Q 2018. The third-quarter research reveals that job gains are expected in 43 of 44 countries and territories during the July-September time frame. Third-quarter hiring plans strengthen in 19 of 44 countries and territories when compared with the April-June time frame, are unchanged in seven, and weaken in 18. When compared with the same period last year, outlooks improve in 24 of the 43 countries and territories, are unchanged in seven, and decline in 12.* The strongest Net Employment Outlooks are reported by employers in Japan (+26%), Croatia (+26%*), Taiwan (+24%), Hungary (+19%) and United States (+18%), while employers in Italy (-2%), Panama (+2%) and Spain (+3%) report the weakest hiring plans. 

* Croatia’s data is not seasonally adjusted.

The ManpowerGroup report is available free of charge to the public and can be downloaded from Results for all 44 countries can be viewed in the new interactive Manpower Employment Outlook Survey Explorer tool at

Wierzbowski Eversheds Sutherland strengthens its Tech & Engineering team with three new lawyers

Witold Sławiński, Jan Styliński and Adriana Gostępska have joined the firm’s newly spun-off Tech & Engineering team, headed by managing partner Tomasz Zalewski.
Witold Sławiński specializes in legal support for development processes and construction contracts for firms from the construction sector, particularly the building automation segment. He also represents clients in disputes and advises on business negotiations and commercial contracts, in particular contracts for construction work. He has over 11 years of experience providing legal advice on implementation of major infrastructure projects involving public contracts for construction of roads and stadiums, including representation of clients before the National Appeal Chamber (among other matters, handling proceedings for award of contracts for selection of technical and economic advisers on motorway projects in Poland, and advice on design and execution of sections of the A2 and A4 expressways to toll expressway standards), and preparing and conducting proceedings for the national toll collection system for motorways and expressways. He has worked for leading companies from the industrial automation and cooling industries, including a global leader in the field of electronic security and fire protection systems, a renowned supplier of fittings and valves for industry and power, and one of the world’s leading producers of heating and cooling systems, advising them on business negotiations, commercial contracts, and dispute resolution. He is the author of numerous publication on public procurement and civil law. He completed an LL.M. in international and comparative law at Chicago–Kent College of Law, Illinois Institute of Technology.

Jan Styliński specializes in the law of public-private partnerships and concessions. He is also involved in the real estate development process, particularly with regard to infrastructure, construction, project finance, public procurement, and EU funds. He has nearly 20 years of experience providing legal advice to business. Before beginning his cooperation with Wierzbowski Eversheds Sutherland he worked in a leading Polish law firm and was the founder and partner in a boutique firm providing legal support for major public-private partnership projects in Poland. Before that he also headed the toll roads team for a public road investor. He supports clients in PPP projects worth billions of zloty, and helps them create optimal legal and business structures for the most complex development projects. He has advised in negotiations with financial institutions, the public administration, and statistical offices. He participated in a pioneering notification of individual state aid in the infrastructure sector in Poland and was one of the first lawyers in Poland to work out the issues of classification of debt instruments in PPP projects with EU statistical agencies. He has participated in a total of nearly 30 of the largest PPP projects in Poland, from motorways to parking lots, toll collection systems, and high-speed rail. Thanks to his experience, he was appointed to the PPP Expert Council established by the Minister of Development in 2016. Jan is the president of the Polish Association of Construction Industry Employers (PZPB), one of the country’s largest organizations of construction companies.

Adriana Gostępska specializes in corporate advice for businesses, construction law, and public procurement law. She advises on business negotiations. She has experience providing comprehensive legal support for enterprises, with particular attention to drafting commercial contracts, mainly for construction work, reviewing contracts, and registration of companies. She represents clients in judicial proceedings, particularly in the area of civil and commercial law. At the Warsaw Regional Bar Council, she is a member of the Image and Communications Committee and the Committee on the History and Traditions of the Warsaw Bar. She is an editor of Młoda Palestra, a nationwide journal for advocate trainees. Adriana is a graduate of the Faculty of Law and Administration at Maria Curie-Skłodowska University in Lublin. She also studied at the Faculty of Law at the University of West Bohemia in Pilsen, Czechia. She completed her advocate training at the Warsaw Regional Bar Council

According to Tomasz Zalewski, managing partner of Wierzbowski Eversheds Sutherland, spinning off a new practice is a natural continuation of the firm’s work over the years providing comprehensive advice on public procurement law, handling complex development ventures and projects connected with the application of new technologies in industry, and in general, the digital transformation.
“I am confident that bringing specialists onboard with such huge experience will allow us to greatly expand our practice to meet the needs of the market connected with implementation of Industry 4.0,” said Zalewski. “We already work for numerous clients from the sectors of industrial automation, energy, heat, environmental protection, and new technologies, supporting them in their strategic projects. We are pleased to have the opportunity to advise on many innovative ventures. A recent example is our advice on pre-commercial procurement by a client from the public sector—one of just a handful of such projects in Poland.”

Anna Derdak to head the tax practice at Wierzbowski Eversheds Sutherland

In April 2018 Wierzbowski Eversheds Sutherland was joined by Anna Derdak, attorney at law and tax adviser. She assumed the position of head of the law firm’s tax practice. She will be also a member of the M&A team.

Anna specializes in providing tax advice to Polish and foreign businesses, mainly on VAT and corporate income tax. She conducts tax reviews and due diligence. She represents clients in tax proceedings and administrative court proceedings. She also advises in the area of white-collar crime, particularly VAT carousel schemes, where she helps clients avoid unwitting involvement in tax fraud.

Anna has over a decade of experience providing legal advice to business. Before joining Wierzbowski Eversheds Sutherland she gained experience at leading international law firms and at one of the Big Four accounting firms. She  works for leading companies from the real estate sector, assisting them in optimizing the property acquisition process. She advises enterprises operating in special economic zones or planning to take up such activity or amend their zone operating permit. She has an extensive practice carrying out due diligence projects, whether connected with M&A or designed to limit tax risks in the client’s operations. She supports clients in selecting the most advantageous business models.

Anna is the author of numerous legal publications and has appeared at many conferences and workshops. She is a doctoral student at the Faculty of Law and Administration at the University of Warsaw, where her research topic is fiscal offences.

“I am pleased that our firm has been joined by such an experienced specialist, who will provide ongoing support for our rapidly growing M&A practice,” said Ewa Szlachetka, partner in charge of the M&A team and the banking and finance team at Wierzbowski Eversheds Sutherland. “Anna will face many challenges, including advising on some of the largest transactions involving the Polish State Treasury, such as the project of creating the Polish Aviation Group, which our law firm is involved in, as well as mid-cap transactions carried out by Eversheds Sutherland and on the local market. This is an area where we see a need to provide professional tax law support for deals for financial investors as well as advice for family firms who decide to take on an investor as part of their succession strategy.”

Wierzbowski Eversheds Sutherland advises on establishment of Polish Aviation Group

Wierzbowski Eversheds Sutherland has advised the Ministry of Investment and Economic Development on establishment of Polska Grupa Lotnicza (Polish Aviation Group). The team of lawyers responsible for the project was headed by Ewa Szlachetka, partner and head of the M&A practice and the banking and finance practice.

Polska Grupa Lotnicza (Polish Aviation Group), founded at the beginning of 2018, is a joint-stock company with capital of PLN 1.2 billion. The group is made up of the most important state-owned civil aviation companies, including LOT Polish Airlines, LOT AMS (technical servicing of aircraft) and LS Airport Services (ground services for passengers and cargo).

Wierzbowski Eversheds Sutherland was responsible for conducting comprehensive due diligence of the companies intended to make up the capital group, and advising on development of the operating rules of the newly created group. The M&A team headed by Ewa Szlachetka included the work of more than ten lawyers, with key tasks performed by Renata Patoka, Krzysztof Feluch, Natalia Burchardt, and Katarzyna Duda.

Six law firms submitted bids in the tender for this project. The bids were opened on 30 October 2017 and on 9 November 2017 the bid of Wierzbowski Eversheds Sutherland was selected as the most advantageous.

Two new lawyers strengthen the Wierzbowski Eversheds Sutherland dispute resolution practice

Wierzbowski Eversheds Sutherland are pleased to announce that their Dispute Resolution team was joined by Dr. Hubert Wysoczański (senior associate) and Michał Miąskiewicz (associate).

Dr. Hubert Wysoczański is an attorney at law specializing in advising and representing clients in civil, commercial, and administrative matters, at the stage of project implementation, contract negotiation, and resolution of disputes before the courts and in domestic and international arbitration, particularly involving construction, infrastructure, the energy sector, environmental protection, public procurement, and corporate and commercial law. He has provided legal support and representation on over 80 major infrastructure projects with a combined value of USD 2.3 billion. He has cooperated with global companies from Canada, China, Cyprus, Denmark, Germany, Poland, Portugal, Spain, Sweden and the United States. He has deep experience in implementation of construction projects for highways, power plants, energy lines, wind farms, mines, commercial real estate and residential development. He has supervised the work of teams involved in due diligence projects. He has led complex cases involving energy projects, appearing before courts in cases involving environmental and planning decisions and building permits. He has advised on regulatory matters and participated in drafting laws governing renewable energy. Before joining Wierzbowski Eversheds Sutherland he worked with well-known international law firms and advised clients in a solo practice. He is the author of two specialized volumes on construction contracts, FIDIC contract conditions and infrastructure projects—the first comprehensive studies in Poland on issues of vital importance for contractual and judicial practice. Hubert Wysoczański holds a PhD in law from Jagiellonian University in Kraków and is a graduate of Melbourne Law School in Australia and Bucerius Law School in Hamburg. He is a member of the Polish Association of Consulting Engineers and Experts (SIDiR) and other legal and industry organizations.

Michał Miąskiewicz is an attorney at law specializing in representing clients in court proceedings, particularly involving civil and commercial law. He also advises in criminal proceedings related to money laundering offences. He has experience in disputes involving infrastructure projects, including disputes arising out of contracts based on FIDIC standards and disputes connected with the real estate market. He advises at all stages of the proceedings, from analysis of the justification for claims to assertion of claims and trial. Before joining Wierzbowski Eversheds Sutherland he acquired experience at Polish and international law firms. For half a year he was responsible for operating the office of a Polish law firm in Senegal. He is a graduate of the Faculty of Law and Administration at the University of Warsaw.

Dispute resolution and arbitration practice – headed by Maciej Jóźwiak – is a vital part of the services of Wierzbowski Eversheds Sutherland. For years we have achieved many successes in this field. We lead high-profile disputes, including cases involving huge infrastructure projects, and are recommended in this area in international legal rankings, recently in Chambers Global 2018.

ManpowerGroup Employment Outlook Survey: Polish employers continue to report hopeful second-quarter hiring plans

Polish employers report steady hiring prospects for the April-June time frame – this is the main conclusion of the ManpowerGroup Employment Outlook Survey released today by ManpowerGroup in Poland. Various levels of hiring gains are anticipated in all 10 industry sectors and all 6 regions during the next three months. The strongest opportunities for job seekers are expected in Manufacturing and in Central Poland.

Warsaw, Poland, 13 March 2018 – The ManpowerGroup Employment Outlook Survey for the second quarter 2018 identifies favorable hiring plans of Polish employers. This marks the 20th consecutive quarter of respectable forecast for Poland’s labour market. The seasonally adjusted Net Employment Outlook stands at +11%. Hiring plans are unchanged when compared with the previous quarter so confidence among Polish employers continues to be the strongest reported since the fourth quarter of 2010. The Outlook also remains relatively stable in a year-over-year comparison. Among 752 survey participants 18% of employers anticipate an increase in staffing levels, 3% forecast a decrease and 76% expect no change.

‘The economy in Poland has accelerated, with a strong impact on the labor market. The result of this is the continuing  positive and stable hiring intentions reported by Polish employers – said Iwona Janas, Country Manager ManpowerGroup in Poland. ‘This trend is favored not only by the good economic situation in Poland but also by the spring and summer period, which is associated with an increased demand for production workers, especially in the food industry, construction workers and people employed in hotels and restaurants. The more conservative forecasts reported in the trade sector may be a reflection of the Sunday trading ban that will soon come into force in Poland. The rapid pace of economic development and increased demand for employees favors a further increase in wages and openness of employers to still fill staff shortages by human resources from behind the eastern border’ – adds Iwona Janas.

Manufacturing industry on the top

Payroll gains are anticipated in all 10 industry sectors during the April-June period. Manufacturing industry employments report the strongest hiring prospects with a solid Net Employment Outlook of +26%, which is the most optimistic forecast for this industry sector since 3Q 2008. Elsewhere, an hopeful hiring piece is forecast for the Restaurants & Hotels sector (+14%), the Construction sector (+13%), the Transport, Storage & Communication sector (+11%) and the Finance, Insurance, Real Estate & Business Services sector (+10%). However, the conservative hiring forecast were reported by employers from 3 sectors – the Electricity, Gas & Water Supply sector, Public & Social sector and the Agriculture, Hunting, Forestry & Fishing sector – with Outlooks of +6%.

In a comparison with the previous quarter hiring plans improve in 7 of the 10 industry sectors, most notably by 12 percentage points in the Finance, Insurance, Real Estate & Business Services sector. However, Outlooks weaken in 3 sectors with considerable decrease of 14 percentage points in the Wholesale & Retail Trade sector.

Year-over-year, hiring intentions strengthen in 4 of the 10 industry sectors. Increases of 12 and 7 percentage points are reported for the Electricity, Gas & Water Supply sector and the Manufacturing sector, respectively. However, hiring prospects weaken in 5 sectors, most notably by 9 percentage points in the Wholesale & Retail Trade sector.

Employers in the Central Poland report the most optimistic Outlook

Workforce gains are anticipated in all 6 regions during the April-June period. Job seekers can expect the strongest hiring pace in the Central region, where the Net Employment Outlook stands at +13%. North and South-West employers also expect respectable job gains reporting Outlooks of +12%. Quarter-over-quarter, hiring prospects improve in 4 of the 6 sectors. Employers in the Central, the East and the North report slight increase of 3 percentage points. However, hiring intensions weaken in the South of 6 percentage points.

Participating employers are categorized into one of four organization sizes: Micro, Small, Medium and Large businesses. Payroll gains are forecast for all 4 organization size categories in the next three months. The strongest hiring intentions are reported by Large employers with a Net Employment Outlook of +27%. Medium employers anticipate a steady hiring pace with an Outlook of +14% while an Outlook stands at +7% for Small- and +3% for Micro-size employers.

Organization-size comparisons Large and Medium employers report a slight quarter-over-quarter improvement of 5 percentage points, while Small employers report a decline of 3 percentage points. The Outlook for Micro-size employers are unchanged when compared with 1Q 2018.

When compared with 2Q 2017, Small employers report stronger hiring intentions of 7 percentage points, while Medium employers report slight improvement of 3 percentage points. However the Outlook is 4 percentage point weaken for Micro-sized employers. The Large business’ forecast are unchanged.

Solid forecast for Taiwan and Japan

ManpowerGroup interviewed over 59,000 employers across 44 countries and territories to forecast labor market activity in 2Q 2018. Job gains are expected in 43 of 44 surveyed countries. Employers from Taiwan report the strongest hiring plans with a healthy Net Employment Outlook of +26%. Elsewhere, an active hiring pace is forecast for Japan with an Outlook of +24%. In both USA and Hungary, employers continue to report steady hiring plans with Outlooks of +18%. The weakest forecast is reported in Italy with Net Employment Outlook stands at -1%. Hiring plans improve in 17 of 43 countries and territories when compared quarter-over-quarter, decline in 17, and are unchanged in 9. Outlooks strengthen in 25 countries and territories year-over-year, weaken in 13, and are unchanged in 5.

The ManpowerGroup report is available free of charge to the public and can be downloaded from Results for all 44 countries can be viewed in the new interactive Manpower Employment Outlook Survey Explorer tool at

Note to editors

Commentary is based on seasonally adjusted data where available. Full survey results for each of the 44 countries and territories included in this quarter’s survey, plus regional and global comparisons, can be found in the ManpowerGroup Press Room at In addition, all tables and graphs from the full report are available to be downloaded for use in publication or broadcast from the ManpowerGroup Web site at The ManpowerGroup Employment Outlook Survey is available free of charge to the public . To receive email notification when the survey is available each quarter, please complete an online subscription form at:

About the Survey

The global leader in innovative workforce solutions, ManpowerGroup releases the ManpowerGroup Employment Outlook Survey quarterly to measure employers’ intentions to increase or decrease the number of employees in their workforce during the next quarter. It is the world’s most extensive, forward-looking employment survey, commencing in 1962 and now polling nearly 59,000 employers in 44 countries and territories (with 752 employers in Poland). The survey with Poland referring results can be found at in “Labour Market Reports” section.

About ManpowerGroup in Poland

ManpowerGroup, the world leader in innovative workforce solutions, has been helping clients and candidates win in Poland since March 2001. ManpowerGroup in Poland provides unique value to clients and candidates through ManpowerGroup™ Solutions, Manpower® and Experis™. ManpowerGroup’s portfolio in Poland covers permanent, temporary and contract recruitment; employee assessment and selection; outsourcing and workforce consulting; and career management and outplacement. More information is available at

About ManpowerGroup

ManpowerGroup (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing and managing the talent that enables them to win. We develop innovative solutions for over 400,000 clients and connect 3+ million people to meaningful, sustainable work across a wide range of industries and skills. Our expert family of brands – Manpower®, Experis®, Right Management® and ManpowerGroup® Solutions – creates substantially more value for candidates and clients across 80 countries and territories and has done so for 70 years. In 2018, ManpowerGroup was named one of the World's Most Ethical Companies for the eighth consecutive year and one of Fortune's Most Admired Companies, confirming our position as the most trusted and admired brand in the industry. See how ManpowerGroup is powering the future of work:


ManpowerGroup Named a Worlds Most Ethical Company by Ethisphere and a Worlds Most Admired Company by Fortune Magazine

ManpowerGroup, the leading global workforce solutions company, has been recognized for the eighth consecutive year as a World's Most Ethical Company by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices. ManpowerGroup has also been named one of Fortune Magazine's 2018 World's Most Admired Companies for the 15th year in a row, ranking second for the most admired company in the diversified outsourcing services industry.

With this double accolade of Most Ethical and Most Admired, ManpowerGroup confirms its position as the most trusted brand in the industry. Fortune's World's Most Admired Companies is the report card on corporate reputation with rankings based on nine key attributes from quality of products/services to long-term investment. ManpowerGroup scored highest in categories including Social Responsibility and Global Competitiveness.

Ethisphere's World's Most Ethical Companies recognizes organizations spanning 23 countries and 57 industries that demonstrate concrete ethical leadership within their industries. The 2018 honorees had record levels of involvement with their stakeholders and communities around the world. Measuring and improving culture, leading authentically and committing to transparency, and diversity and inclusion were all priorities for honorees.

"Our 70-year legacy of providing meaningful and sustainable employment is built on the belief that running a good business also means contributing to society," said Jonas Prising, Chairman & CEO, ManpowerGroup. "Ethics run throughout our organization at ManpowerGroup and every person plays a role in keeping our ethical compass firmly in place. These recognitions are a testament to our people and our values that are embraced by our employees across the globe, who provide tremendous value to our clients, while helping millions of people develop skills so they can access opportunity and meaningful employment."

"While the discourse around the world changed profoundly in 2017, a stronger voice emerged. Global corporations operating with a common rule of law are now society's strongest force to improve the human condition. This year we saw companies increasingly finding their voice. The World's Most Ethical Companies in particular continued to show exemplary leadership," said Ethisphere's CEO, Timothy Erblich. "I congratulate everyone at ManpowerGroup for being recognized as one of the World's Most Ethical Companies."

To learn more about ManpowerGroup, visit

About ManpowerGroupManpowerGroup (NYSE: MAN) is the world's workforce expert, creating innovative workforce solutions for 70 years. We connect more than 600,000 people to meaningful work across a wide range of skills and industries every day. Through our ManpowerGroup family of brands – Manpower®, Experis®, Right Management® and ManpowerGroup® Solutions – we help more than 400,000 clients in 80 countries and territories address their critical talent needs, providing comprehensive solutions to resource, manage and develop talent. In 2018, ManpowerGroup was named one of the World's Most Ethical Companies for the eighth consecutive year and one of Fortune's Most Admired Companies, confirming our position as the most trusted and admired brand in the industry. See how ManpowerGroup makes powering the world of work humanly

ManpowerGroup Leads Conversation on Digital Leadership and How Organizations Can Balance Machine and Human Intelligence in Davos

ManpowerGroup hosts business leaders and innovators including, WPP's Sir Martin Sorrell, Dow Chemical's Andrew Liveris and FT's Gillian Tett for Dinner Debate with a Difference in Davos

ManpowerGroup Chairman & CEO Jonas Prising and tech entrepreneur will host a panel featuring global business experts that challenge traditional ideas of effective leadership and explore what is required to lead through digital transformation.

The debate include one of WEF's most distinguished champions and WPP CEO Sir Martin Sorrell, Dow Chairman and CEO Andrew Liveris, Cognizant CEO Francisco D'Souza, KPMG’s Head of People Susan Ferrier, Samsung Chief Design Officer-IoT Moe Tanabian and IBM Watson Chief David Kenny.

When almost 9 out of 10 HR leaders do not believe they have the leadership talent to drive success in the digital era, leaders of every size and sector need to lead differently to capture opportunity and stay relevant.[1]

"What got us here, won't get us there. Current and future leaders in the digital age must be open to change and ready to take calculated risks," said Prising. "The good news is leading through digital transformation does not mean a complete replacement of the makeup of strong leadership. Instead the 80/20 rule applies. Foundational leadership skills like endurance and adaptability continue to be critical. Yet in the digital age, effective leaders must also nurture the additional 20 percent - unleashing talent, daring to lead, and at times failing, fast; all to accelerate performance. We are pleased to be joined by such diverse and expert speakers to discuss how to keep businesses running smoothly with one hand, while preparing for a different and uncertain future with the other."

[1] Talent Management: Accelerating Business Performance, Right Management (2014)


About ManpowerGroup

ManpowerGroup (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing and managing the talent that enables them to win. We develop innovative solutions for over 400,000 clients and connect 3+ million people to meaningful, sustainable work across a wide range of industries and skills. Our expert family of brands – Manpower®, Experis®, Right Management® and ManpowerGroup® Solutions – creates substantially more value for candidates and clients across 80 countries and territories and has done so for nearly 70 years. In 2017, ManpowerGroup was named one of the World's Most Ethical Companies for the seventh consecutive year and one of Fortune's Most Admired Companies, confirming our position as the most trusted and admired brand in the industry. See how ManpowerGroup is powering the future of work:

Air Products z nowym wiceprezesem na region Europy Środkowo-Wschodniej, Rosji i Wspólnoty Niepodległych Państw

Firma Air Products, jeden z największych dostawców gazów przemysłowych w Polsce, mianowała Vaclava Haranta wiceprezesem na region Europy Środkowo-Wschodniej, Rosji i Wspólnoty Niepodległych Państw (WNP). Jest on odpowiedzialny za strategię i realizację działań prowadzących do wzrostu rentowności segmentu gazów przemysłowych amerykańskiego giganta.


„Jako wiceprezes Air Products będę nieustannie poszukiwał możliwości, które pomogą wzmocnić pozycję firmy na rynkach Europy Środkowo-Wschodniej i Rosji. Ten region, w tym Polska, są dla nas strategicznym priorytetem – naszym zdaniem wykazuje potencjał długotrwałego wzrostu. Produkty i usługi Air Products, a także dbałość o bliskie relacje z klientami i dbałość o bezpieczeństwo pozwoli nam się wyróżnić i budować silną pozycję w długim okresie” – powiedział Vaclav Harant, wiceprezes na region Europy Środkowo-Wschodniej, Rosji i WNP w firmie Air Products.


Przed dołączeniem do Air Products Vaclav Harant pełnił funkcję  wiceprezesa i dyrektora generalnego na Europę Środkowo-Wschodnią, Rosję i WNP w Ecolab-Nalco, gdzie odpowiadał za szybki rozwój firmy na tamtejszych rynkach poprzez inwestycje bezpośrednie, rozbudowę kanałów sprzedaży i w swojej roli wiceprezesa szeregu przedsięwzięć typu joint venture. Przed 2009 r. zarządzał biznesem Merchant Gases w Air Products w Republice Czeskiej i na Słowacji. Był też odpowiedzialny za wejście firmy na rynek rosyjski. Ponadto Vaclav Harant przez dwie kadencje był członkiem zarządu American Chamber of Commerce w Rosji.


Nowy wiceprezes jest absolwentem kierunku inżynierii mechanicznej na Politechnice Czeskiej w Pradze oraz członkiem Strategicznej Rady ds. Inwestycji w Nowy Przemysł podlegającej Ministerstwu Przemysłu i Handlu Federacji Rosyjskiej.   


Pełna biografia i zdjęcie  Vaclava Haranta dostępne są na stronie Air Products Business Leadership.



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biuro prasowe Air Products w Polsce

Jarosław Soroczyński, Anna Hadrych

Questia sp. z o.o. sp. k., Communications Management Consultants

tel. +48 22 623 07 00, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it. ; This email address is being protected from spambots. You need JavaScript enabled to view it.


Kontakt dla inwestorów

Simon Moore tel: (610) 481-7461, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.



Air Products (NYSE: APD) to wiodący na świecie dostawca gazów przemysłowych. Od 75 lat firma dostarcza gazy atmosferyczne i procesowe oraz urządzenia wykorzystywane przez przemysł rafineryjny, petrochemiczny, metalurgiczny, elektroniczny, spożywczy i napojowy. Air Products jest także światowym liderem w zakresie dostarczaniatechnologii i urządzeń do skraplania gazu ziemnego.


W roku fiskalnym 2016 przychody ze sprzedaży firmy Air Products wyniosły 7,5 miliarda dolarów amerykańskich, a jej kapitalizacja wynosi 30 miliardów dolarów. Ok. 16 tysięcy pracowników Air Products w 50 krajach dąży do tego, aby firma była najbezpieczniejszym i najbardziej efektywnym przedsiębiorstwem w sektorze gazów przemysłowych, które zapewnia wszystkim klientom zrównoważone rozwiązania i najwyższy poziom usług.


Air Products jest obecny w 15 krajach Europy, włączając w to kraje Europy Centralnej i Wschodniej, takie jak Słowacja, Czechy, Rosja i Polska. Firma jest jednym z największych producentów gazów przemysłowych w Polsce. Od ponad 20 lat Air Products konsekwentnie wdraża na polskim rynku strategię rozwoju opartą na starannie dobranych inwestycjach. Dodatkowe informacje dostępne są pod adresem:



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UWAGA: Powyższa informacja może zawierać prognozy określone w Private Securities Litigation Reform Act z 1995 roku. Prognozy te opierają się na oczekiwaniach i założeniach dotyczących istotnych czynników ryzyka aktualnych na chwilę dystrybucji powyższej informacji. Faktyczne wyniki operacyjne i finansowe mogą różnić się znacząco od przewidywań i szacunków wyrażonych w prognozach ze względu na czynniki ryzyka nie uwzględnione przez kierownictwo, w tym czynniki ryzyka określone w Formularzu 10k firmy Air Products za rok fiskalny, który zakończył się 30 września 2016 r.



White & Case LLP advised Play and its shareholders

Global law firm White & Case LLP has advised Play Communications S.A. (Play) and its shareholders, Novator and Olympia, on the €1 billion (PLN 4.4 billion) initial public offering (IPO) of Play on the Warsaw Stock Exchange, which values the company at
€ 4 billion (PLN 16 billion).

Play will be listed on July 27, 2017. It is the largest IPO in the telecommunications sector in Europe since June 2015, and one of the five largest ever Polish IPOs.

“White & Case has a strong relationship with Novator and Olympia and we’ve been advising Play since 2014,” said White & Case partner Ian Bagshaw, who co-led the Firm’s deal team. “Our lawyers in London and Warsaw have advised on a complex and successful IPO that will allow the company to continue its exciting growth journey.”

Play, a portfolio company of private equity firms Novator and Olympia, was founded a decade ago and has increased its market share from less than five percent in 2008 to 27 percent in 2017, making it Poland’s second largest mobile network. It competes with Orange, Deutsche Telekom’s T-Mobile and Polkomtel’s Plus, and has more than 14 million customers.

The transaction was advised on by the international team of White & Case lawyers from Warsaw and London offices.

The White & Case Warsaw team was led by Marcin Studniarek, partner, who among others was supported by Rafał Kamiński, local partner, Grzegorz Jukiel, tax advisor and Monika Dużyńska, associate.

In London the White & Case team was led by two partners Ian Bagshaw and Jill Concannon, and the team included Jonathan Parry, Prabhu Narasimhan, Martin Forbes and Nicholas Greenacre, partners and Ben von Maur, James Greene, Benjamin Bierwirth, Brian Dearing, David Nisbet and Nicola Chapman, associates.


Press contact

For more information please speak to your local media contact.

CMS has advised TELE-FONIKA Kable S.A. on the purchase of the UK’s JDR Cable Systems

CMS, the world’s 6th largest law firm by lawyer headcount, has advised Polish company TELE-FONIKA Kable S.A. (“TFKable”) on its acquisition of JDR Cable Systems (Holdings) Ltd. (“JDR”) - a leading supplier of subsea umbilicals and power cables to the offshore energy industry, headquartered in the UK. Both companies have a long history of collaboration, with TFKable being one of JDR’s important business partners, supplying power copper cores for its cable and umbilical systems. JDR’s highly technical subsea systems, used in the global offshore oil, gas and renewable industries, allow its customers to power and control their offshore operations, and will enhance the range of cable solutions TFKable can provide to its customers.

The transaction, which is subject to receipt of, inter alia, the required regulatory approvals, is expected to close in Q3 2017.

The CMS team was led by CEE-based English-qualified corporate partner Graham Conlon, along with senior associate Valentina Santambrogio, supported by over 50 other CMS lawyers, including Ben McParland, Anna Thomson and Siddharth Fresa in CMS’s London office. Graham Conlon commented “This is the second transaction in as many years where we CMS have helped a major Polish company to expand into the UK, the other transaction being Amica’s acquisition of CDA Group in the UK. We are seeing CEE-based companies becoming increasingly acquisitive overseas, and clients appreciate the fact that we have English law capability on the ground in CEE, backed by an extensive footprint of offices throughout Europe and beyond. It is an honour for us to have advised on yet another high-profile transaction.”

JP Morgan and Société Générale are acting as financial advisors to TFKable.


Dentons in Poland advises Mabuchi Motor on its first European investment

Dentons in Poland advises Mabuchi Motor on its first European investment.

This Japanese corporation, the world’s largest manufacturer of small electric motors, will build a plant in the Krakow Special Economic Zone.


Warsaw, July 17, 2017 – Dentons, the world’s largest law firm, provided comprehensive legal and tax support to Mabuchi Motor, throughout its investment into a new plant in the Krakow Special Economic Zone in Poland. Dentons successfully represented Mabuchi Motor at the public auction where the land was purchased from the local municipality, negotiated the property purchase agreement, advised on the available investment incentives and tax solutions, and procured a license to operate in the special economic zone. The Firm also provided advice on day-to-day regulatory, tax and corporate matters.


“Our ability to deliver full-service legal advice to foreign investors is what makes Dentons stand out from other law firms. Our corporate, tax, employment, real estate and state aid lawyers are exceptionally well qualified to offer our clients full support in their investment projects in Poland,” said Arkadiusz Krasnodębski, Poland Managing Partner at Dentons. “We have dedicated teams to advise Japanese, Chinese, French and German clients, as well as a team supporting clients in doing business in Iran. This makes us a natural choice for both foreign investors and Polish firms seeking to expand their business.”   


The plant will manufacture automotive components and spare parts for the motoring industry, including electric motors used to drive automotive appliances. The plant is designed to serve as a major production hub to cater to rising demand from European clients. The construction project officially kicked off on Wednesday, July 12, 2017. The plant is scheduled to launch production by late 2019, and will reach full capacity in 2023, with a planned output of 16 million motors annually. It will create jobs for 400 employees.


The project was led by partner Takura Kawai, head of the Japan Desk in the EMEA region, and included Cezary Przygodzki, a partner in the Tax group, Michał Bernat, a counsel in the Tax and Competition and Antitrust groups, and Łukasz Zwiercan, a counsel in the Real Estate group.


About Dentons

Dentons is the world's largest law firm, delivering quality and value to clients around the globe. Dentons is a leader on the Acritas Global Elite Brand Index, a BTI Client Service 30 Award winner and recognized by prominent business and legal publications for its innovations in client service, including founding Nextlaw Labs and the Nextlaw Global Referral Network. Dentons' polycentric approach and world-class talent challenge the status quo to advance client interests in the communities in which we live and work.



Trzy awanse partnerskie w kancelarii Wierzbowski Eversheds Sutherland

Marta Gadomska-Gołąb, dr Aleksandra Kunkiel-Kryńska oraz Stanisław Żemojtel w lipcu 2017 roku awansowali na partnerów Wierzbowski Eversheds Sutherland.

Marta Gadomska-Gołąb i dr Aleksandra Kunkiel-Kryńska stanęły też na czele nowo utworzonej praktyki Consumer Product Compliance & Life Sciences, zaś Stanisław Żemojtel wraz z awansem partnerskim został szefem praktyki procesowej, przejmując to stanowisko po Henryku Romańczuku, który jesienią bieżącego roku przejdzie na emeryturę.

Marta Gadomska-Gołąb jest radcą prawnym, od trzech lat kieruje w kancelarii praktyką Life Sciences. Jest ekspertem rekomendowanym w zakresie Life Sciences w rankingu Chambers Europe 2017. Posiada wieloletnie doświadczenie w doradztwie regulacyjnym, a także w zakresie odpowiedzialności za produkt, dystrybucji, relacji z konsumentami oraz reklamy dla klientów z branży farmaceutycznej, RTV, AGD, FMCG, wyrobów tekstylnych, a także branży meblowej i kosmetycznej. Zajmuje się również prawnymi aspektami wykorzystania nowych technologii w systemie ochrony zdrowia, w szczególności telemedycyną. Aktywnie działa na rzecz popularyzacji i rozwoju zagadnień medycyny personalizowanej, będąc członkiem organów Polskiej Kolacji Medycyny Personalizowanej. Regularnie występuje jako prelegentka na konferencjach. Jest również wykładowcą UJ. W kancelarii Wierzbowski Eversheds Sutherland pracuje od 11 lat.

Dr Aleksandra Kunkiel-Kryńska jest radcą prawnym, specjalizuje się w prawie konsumenckim. Posiada szerokie doświadczenie w doradztwie dla krajowych i zagranicznych firm z branż RTV, AGD, FMCG, wyrobów tekstylnych, branży meblowej i kosmetycznej. Pracuje dla wiodących producentów, importerów, dystrybutorów i detalistów, zapewniając kompleksowe doradztwo prawne w zakresie szeroko rozumianego prawa konsumenckiego, w tym w zakresie bezpieczeństwa produktów, a także roszczeń konsumenckich i gwarancyjnych oraz prawa umów i prawa reklamy. Jej doświadczenie zawodowe obejmuje również bieżącą obsługę spółek oraz realizację projektów dotyczących zamówień publicznych. W 2012 roku obroniła pracę doktorską w zakresie europejskiego prawa konsumenckiego w Instytucie Nauk Prawnych PAN. Regularnie występuje jako prelegentka na konferencjach, prowadzi też autorskie szkolenia dotyczące prawa konsumenckiego, jest również autorem licznych publikacji na ten temat. Z kancelarią związana jest od 11 lat.

Stanisław Żemojtel jest adwokatem, z kancelarią związanym od 2006 roku. Specjalizuje się w postępowaniach sądowych, administracyjnych i arbitrażowych. W ostatnich latach prowadził wiele głośnych sporów związanych z inwestycjami infrastrukturalnymi. Posiada szczególne doświadczenie w doradztwie dla wiodących spółek z sektora telekomunikacyjnego, budowlanego i energetycznego. Reprezentował klientów w licznych postępowaniach przed Sądem Ochrony Konkurencji i Konsumentów oraz arbitrażach. Jak podkreśla Krzysztof Wierzbowski, partner zarządzający Wierzbowski Evsersheds Sutherland, mecenas Żemojtel dał się poznać jako doskonały procesualista, ma na swoim koncie spektakularne sukcesy w znaczących, często głośnych sporach prowadzonych na rzecz kluczowych klientów kancelarii. Był też zaangażowany wwiększość sporów, które dotychczas prowadził jego poprzednik, co, jak podkreśla Krzysztof Wierzbowski, daje  gwarancję, że sprawy klientów przejdą płynnie w zaufane ręce. W 2017 roku Stanisław Żemojtel został rekomendowany przez informator Legal 500 jako Next generation lawyer

CMS gets a new head of its environmental practice

Starting July 2017, the CMS environmental team will be led by Agnieszka Skorupińska, a Polish qualified advocate with 10 years’ experience. She specialises in Polish and European environmental protection law and natural resources law. She is advising corporate clients on regulatory matters, development projects, environmental aspects of real estate transactions, mergers and acquisitions and financing processes. Over the years, she has successfully represented clients in environment-related administrative and judicial proceedings.


“At CMS we are committed to providing top quality legal advice and we are glad that, with Agnieszka heading the environmental practice, we will be able to give our clients the benefit of our combined experience, especially these days, when environmental law is changing rapidly,” says Tomasz Minkiewicz, partner heading the CMS energy practice.


Agnieszka’s experience covers such matters as historical contamination of soil and ground water, environmental damage, baseline reports, environmental impact assessments, protection of air, including adherence to IED and BAT emission standards as well as obtaining derogations and exemptions from such standards, issues related to CO2 emissions, obtaining environmental permits, including integrated permits, REACH, waste and water management.


She has successfully acted as an advisor to companies from the power generation, renewable energy, chemical, construction, waste management, FMCG, water and sewage, renewable energy, automotive, textile and food sectors.  


She was distinguished as an Up & Coming lawyer in the prestigious Chambers Europe 2017 ranking.


For the last six years, Agnieszka Skorupińska has worked at Dentons, where she dealt with environmental protection projects. As a counsel at CMS, she will head the environmental practice, which is part of the Energy and Projects Department. The CMS Environmental Team advises clients on both day-to-day matters and on strategic projects shaping company policies. The team offers legal assistance in regulatory, contractual and transactional matters.


Founded in 1999, CMS is a full-service top 10 international law firm, based on the number of lawyers (Am Law 2016 Global 100). With 71 offices in 40 countries across the world, employing over 4,500 lawyers, CMS has longstanding expertise both at advising in its local jurisdictions and across borders. CMS acts for a large number of Fortune 500 companies and the FT European 500 and for the majority of the DAX 30. Revenues totalled EUR 1.05bn in 2016.


CMS provides a wide range of expertise across 19 expert practice and sector areas, including Corporate/M&A, Energy, Funds, Lifesciences, TMC, Tax, Banking and Finance, Commercial, Competition & EU, Dispute Resolution, Employment & Pensions, Intellectual Property and Real Estate & Construction.


For more information, please visit

Kancelaria Dentons przeprowadzi się do nowego biura na warszawskim Powiślu

Dentons, największa polska i globalna kancelaria prawnicza, wynajęła 5700 mkw. w realizowanej obecnie inwestycji EC Powiśle. Firma będzie głównym najemcą w jednym z powstających w ramach inwestycji budynków, gdzie zajmie trzy z pięciu pięter. Przeprowadzka planowana jest na 2019 r.

Głównym czynnikiem decydującym o wyborze nowej lokalizacji była jej atrakcyjność z punktu widzenia klientów i pracowników. Wybór Powiśla – jednej z najbardziej dynamicznie rozwijających się części miasta, gdzie nie ma siedziby żadna z dużych sieciowych kancelarii – odróżni nas od pozostałych firm prawniczych i zapewni większą kameralność oraz pożądaną przez klientów dyskrecję. Pomoże nam też utrwalić postrzeganie kancelarii, jako firmy dynamicznej, innowacyjnej i wyznaczającej trendy – komentuje Arkadiusz Krasnodębski, Poland Managing Partner w Dentons.


Potrzeby i oczekiwania klientów oraz pracowników wobec kancelarii prawniczych ulegają ciągłym zmianom. Ten globalny trend dotyczy także funkcji biura, jego otoczenia i aranżacji. Nowa siedziba w Warszawie to pilotażowy projekt w Dentons Europe, który będzie nie tylko wizytówką firmy w Polsce, ale umożliwi stworzenie wzorcowych rozwiązań, wdrażanych w innych biurach Dentons w Europie – mówi Tomasz Dąbrowski, Europe Chief Executive Officer w Dentons.


Nowe biuro będzie nawiązywać do aktualnych trendów w aranżacji przestrzeni, z uwzględnieniem specyfiki funkcjonowania kancelarii prawniczej. Znajdzie się w nim szereg rozwiązań wspierających kluczowe wartości Dentons, takie jak współpraca, transparentność, równość oraz promujących kulturę mentoringu i coachingu – dodaje Karina Furga-Dąbrowska, partner i Chief Design Officer w Dentons.


Inwestycja EC Powiśle usytuowana jest prostokącie ulic Wybrzeże Kościuszkowskie, Zajęcza, Dobra i Leszczyńska, bezpośrednio przy stacji metra Centrum Nauki Kopernik. Projekt obejmuje rewitalizację hal zabytkowej elektrowni, utworzenie trzech nowych budynków biurowych klasy A, apartamentów i butikowego hotelu o łącznej powierzchni 50 tys. mkw. Inwestycja to także ponad 40 nowych koncepcji rekreacyjnych, w tym restauracje, bary i kawiarnie obejmujące przylegające do historycznego obiektu elektrowni place, gdzie odbywać się będą koncerty, wystawy oraz inne wydarzenia kulturalne i sportowe.


Projekt realizują firmy White Star Real Estate i Tristan Capital Partners. Za projekt architektoniczny odpowiada pracownia APA Wojciechowski, wspierana przez studio Belotto Design. W procesie poszukiwania nowej siedziby oraz negocjowania warunków umowy Dentons reprezentowała firma JLL. Zespół doradców technicznych JLL wspiera również Dentons w procesie aranżacji nowego biura pełniąc rolę project managera. Za projekt aranżacji biura kancelarii odpowiada Studio Rygalik.


O kancelarii Dentons

Dentons jest największą na świecie firmą prawniczą, oferującą najwyższej jakości doradztwo prawne i biznesowe. Za innowacyjne osiągnięcia w zakresie świadczenia usług prawnych, w tym stworzenie Nextlaw Labs oraz Nextlaw Global Referral Network, Dentons jest regularnie rekomendowany przez wiodące informatory biznesowe i prawnicze i zajmuje pozycję lidera w zestawieniu „Indeks Elitarnych Globalnych Firm Acritas”. Jest także zdobywcą nagrody BTI Client Service 30 Award. Dzięki policentrycznemu podejściu oraz zapewnianiu klientom dostępu do najbardziej utalentowanych prawników na całym świecie, Dentons rzuca wyzwanie istniejącym standardom obsługi prawnej w społecznościach, w których funkcjonuje.

Dentons strengthens market-leading position in Central Asia with the expansion of the Tashkent office

Dentons, the world’s largest law firm, has announced the expansion of its office in Tashkent, Uzbekistan through a combination with highly ranked Uzbek firm Avent Advokat. Eldor Mannopov, the founder and managing partner of Avent Advokat, has joined the Firm along with a team of nine lawyers. The move, which comes shortly after Dentons’ entry into Georgia, further strengthens the Firm’s market leadership in the Commonwealth of Independent States (CIS) and Central Asia.


Aigoul Kenjebayeva, Central Asia Regional Managing Partner, commented, “Dentons’ Tashkent office has been operating successfully on the Uzbekistan market for almost 20 years, largely thanks to the professionalism of Counsel Mouborak Kambarova. By joining forces with Avent Advokat, this office will become one of the top legal practices and the undisputed leader in Uzbekistan.  This will allow us to support our clients’ growing needs across the region better.”


“The recently elected Uzbek leaders have implemented a wide and ambitious program to eradicate corruption and create a more favorable environment for businesses and investors.  These reforms are giving impetus to foreign investment, and a number of our multinational clients are now seeking quality legal advice in that emerging market,” said Tomasz Dąbrowski, Chief Executive Officer of Dentons Europe.


Eldor Mannopov has been appointed Uzbekistan Managing Partner. A highly ranked lawyer in business law, he focuses on international trade, arbitration, M&A, tax, litigation and compliance and is especially respected as a market-leader lawyer specializing in construction matters.  He is also well known for his experience working with Chinese and other Asian clients.


Eldor Mannopov commented, “We are excited to join the world’s largest law firm. We look forward to collaborating actively with our colleagues from across Central Asia and around the globe with world-class client service and value.”


The Tashkent office provides full service business law advice in energy, banking and finance, corporate, M&A, infrastructure and PPP, technology and construction.  The team serves clients in English, Russian, Uzbek and Turkish.


“We have been exploring ways to strengthen our current operations in Tashkent, and so we are delighted to welcome one of Uzbekistan’s top legal teams to our Firm. With the addition of the new team, we will be able to offer our clients a wide range of quality services on both local and foreign law in Uzbekistan,” remarked Evan Lazar, Chairman of the Board of Dentons Europe.


Dentons is the only global law firm which, in addition to its vast collaboration of offices worldwide, is able to offer full coverage services in Central Asia and the neighboring countries, particularly in Uzbekistan, Russia, Turkey, Ukraine, Kazakhstan, Azerbaijan and Georgia, and via associated firms in Turkmenistan, Tajikistan and Kyrgyzstan.


About Dentons

Dentons is the world's largest law firm, delivering quality and value to clients around the globe. Dentons is a leader on the Acritas Global Elite Brand Index, a BTI Client Service 30 Award winner and recognized by prominent business and legal publications for its innovations in client service, including founding Nextlaw Labs and the Nextlaw Global Referral Network. Dentons' polycentric approach and world-class talent challenge the status quo to advance client interests in the communities in which we live and work.


Dentons crowned International Firm of the Year by The Lawyer

Dentons has been named "International Firm of the Year" at The Lawyer Awards, one of the most prestigious accolades within the legal industry. The ceremony took place in London on June 27, 2017.

Against very strong competition the Firm was recognised for its continued international expansion over the last 12 months, with launches in Australia, Colombia, Mexico, Costa Rica, Guatemala, Panama and the Netherlands; for ground-breaking innovation through the development of Nextlaw Labs and Nextlaw Global Referral Network; and for success in advising clients across multiple regions.


"This award demonstrates that our ability to offer clients the benefit of quality experience wherever they want to do business or resolve a dispute – from Canada, the US and Latin and Central America, across Europe, the Middle East and Africa, to the Asia-Pacific region – is being closely watched and admired across the globe," said Elliott Portnoy, Dentons' Global CEO.


Global Chairman Joe Andrew added, "Our vision of challenging the profession and innovating in client service delivery demonstrates that we continue to set the pace in the global legal market. This recognition from The Lawyer, and the continued support of our clients, validates the strategy we are pursuing to become the law firm of the future right now.”


The "International Firm of the Year" award follows several other major award wins for the Firm. Last month, Dentons won the "International Law Firm Innovation" category at the Legal Week Innovation Awards for the second consecutive year – winning for Nextlaw Labs in 2016 and Nextlaw Global Referral Network in 2017. In addition, Dentons was named "Best Managed International Firm" at the 2017 Managing Partners' Forum (MPF) Awards for Management Excellence and became the only firm to win the MPF Awards' "Best Performing Legal Brand" award in consecutive years. The Firm also picked up the prize for "Most Innovative Non UK-headquartered Firm" at The Lawyer's 2016 Business Leadership Awards.


About Dentons

Dentons is the world's largest law firm, delivering quality and value to clients around the globe. Dentons is a leader on the Acritas Global Elite Brand Index, a BTI Client Service 30 Award winner and recognized by prominent business and legal publications for its innovations in client service, including founding Nextlaw Labs and the Nextlaw Global Referral Network. Dentons' polycentric approach and world-class talent challenge the status quo to advance client interests in the communities in which we live and work.



White & Case doradzała Bankowi PKO BP S.A.

Międzynarodowa kancelaria prawna White & Case występowała w charakterze doradcy prawnego Powszechnej Kasy Oszczędności Bank Polski S.A. Oddział – Dom Maklerski PKO Banku Polskiego w Warszawie („Oferujący”), przy ustanowieniu w dniu 26 maja 2017 r. przez Echo Investment S.A. („Emitent”) II Programu Emisji Obligacji („Program”) do wysokości 300 milionów zł lub równowartości tej kwoty w euro.

W ramach Programu Emitent będzie mógł dokonywać przez okres 12 miesięcy od daty zatwierdzenia przez Komisję Nadzoru Finansowego prospektu emisyjnego dotyczącego Programu, wielokrotnych publicznych emisji niezabezpieczonych obligacji. W dniach 8-9 czerwca Emitent przeprowadził pierwszą ofertę publiczną Obligacji, tj. obligacji serii E, o wartości 100 milionów zł. Obligacje serii E zostaną wyemitowane na początku lipca.

Powyższą transakcję realizował zespół prawników White & Case z biura w Warszawie: Andrzej Sutkowski (partner), Bartosz Smardzewski (counsel) oraz Katarzyna Grodziewicz (associate).

CMS wins Manufacturing Excellence Award 2017

CMS has received the prestigious “Manufacturing Excellence Award 2017” in the "Law Firm” category. The award ceremony took place during the fifth annual CEE Manufacturing Excellence & Industrial Property Awards 2017 on 22 June 2017 that was organised by and CEO Manufacturing Magazine.

This year awards were given in numerous categories, corresponding to the needs of the manufacturing sector, including: Professional Service Providers”, “Facilities maintenance/Property management”, “Law Firm”, “Corporate Real Estate Agency”, “Construction Company”, “Industrial Developer”, “Logistics Services Supplier”, “Robotics/Automations Supplier”, “Information Technologies for Manufacturing”, “Sustainability and Environment” or “Business and Science”.

“This award underlines the market position and experience of our practice which specialises in legal advisory services on the logistics and industrial real estate market in Central Eastern Europe” – says Wojciech Koczara, partner and head of the CMS Real Estate and Construction practice in CEE and Poland.

CMS advises on the purchase of three Fashion House Outlet shopping centres

CMS has advised on the purchase of a portfolio of Fashion House Outlets located in Piaseczno, Gdańsk and Sosnowiec.

“The commercial real estate market in Poland is currently receiving considerable interest from investors. Due to the expected increase in consumer spending, this trend is likely to continue in the coming years. Increasing retail sales and changes in the structure of consumer spending mean that there are new opportunities for the development of commercial projects in Poland,” says Wojciech Koczara, managing partner at CMS’s real estate practice for Poland and Central and Eastern Europe. 

The team of CMS lawyers that advised the purchaser – a leading global financial institution – included attorney Piotr Przybylski (co-leader of the project) and Kamil Osowski, CMS real estate lawyer, led by Wojciech Koczara, partner, legal advisor, Michał Derdak, senior lawyer and legal advisor from Warsaw CMS’s law enforcement team, as well as lawyers from SKJ Szybkowski Kuźma Jeleń Sp.j., which cooperated with CMS on this transaction as a subcontractor.

Dentons publikuje globalny przewodnik na temat rozwiązywania sporów

Kancelaria Dentons opublikowała swój pierwszy przewodnik Global Litigation and Dispute Resolution Q&A Guide, który zawiera komentarz na temat procedur rozwiązywania sporów obowiązujących w 27 krajach świata.

Publikacja z założenia nie stanowi wyczerpującej porady na temat rozwiązywania sporów w wymienionych krajach. Została przygotowana w formie pytań i odpowiedzi na kluczowe zagadnienia w takich tematach jak główne metody rozwiązywania sporów, postępowania sądowe i sporne, koszty procesów i ich finansowanie, środki zabezpieczenia roszczeń, rodzaje ochrony prawnej udzielanej przez sądy, postępowania dowodowe, transgraniczne postępowania sporne, oraz alternatywne metody rozwiązywania sporów w państwach Azji, Europy i obu Ameryk oraz w Australii.

„Jestem przekonany, że ta publikacja ułatwi planowanie strategii sporów i wybór najbardziej efektywnej drogi procesowej naszym klientom. Dzięki zasięgowi Dentons było możliwe przygotowanie szerokiego i cennego materiału, który pokazuje jak bardzo różnią się od siebie mechanizmy rozstrzygania sporów na całym świecie oraz pomaga je zrozumieć bazując na autentycznych doświadczeniach naszych ekspertów.” Powiedział Wojciech Kozłowski, partner, współkierujący praktyką rozwiązywania sporów Dentons w Europie.

Eksperci z praktyki Postępowań Sądowych i Rozwiązywania Sporów Dentons mają doświadczenie w prowadzeniu wielorakich postępowań i sporów, w tym sporów z zakresu bankowości, sporów związanych ze stosunkiem spółki, arbitrażu międzynarodowego, pozwów grupowych, sporów z zakresu własności intelektualnej, postępowań sądowo-administracyjnych, postępowań antymonopolowych, postępowań z zakresu unijnego prawa konkurencji, a także postępowań dotyczących kontroli wewnętrznej i przestępstw przeciwko obrotowi gospodarczemu.

W oparciu o duże doświadczenie, wiedzę oraz szczegółową ocenę sprawy, prawnicy z praktyki Postępowań Sądowych i Rozwiązywania Sporów Dentons tworzą indywidualne strategie procesowe uwzględniające cele biznesowe klientów. Zespół Dentons stosuje odpowiednie narzędzia i sposoby działania na każdym etapie sprawy, określając i kontrolując wspólnie z klientem ryzyka dotyczące kosztów prowadzenia sporu oraz minimalizując prawdopodobieństwo powstania kolejnego sporu sądowego w przyszłości.

Przewodnik Global Litigation and Dispute Resolution Q&A Guide jest dostępny do pobrania w wersji angielskiej ze strony Dentons.


O kancelarii Dentons

Dentons jest największą na świecie firmą prawniczą, oferującą najwyższej jakości doradztwo prawne i biznesowe. Za innowacyjne osiągnięcia w zakresie świadczenia usług prawnych, w tym stworzenie Nextlaw Labs oraz Nextlaw Global Referral Network, Dentons jest regularnie


rekomendowany przez wiodące informatory biznesowe i prawnicze i zajmuje pozycję lidera w zestawieniu „Indeks Elitarnych Globalnych Firm Acritas”. Jest także zdobywcą nagrody BTI Client Service 30 Award. Dzięki policentrycznemu podejściu oraz zapewnianiu klientom dostępu do najbardziej utalentowanych prawników na całym świecie, Dentons rzuca wyzwanie istniejącym standardom obsługi prawnej w społecznościach, w których funkcjonuje.



Nominowany przez kancelarię Dentons prof. Krystian Jażdżewski laureatem nagrody Polskiej Rady Biznesu im. Jana Wejcherta

Nominowany przez kancelarię Dentons prof. Krystian Jażdżewski laureatem nagrody Polskiej Rady Biznesu im. Jana Wejcherta

Prof. Krystian Jażdżewski, endokrynolog i genetyk, został nagrodzony „polskim biznesowym Oskarem” w kategorii „Wizja i innowacje”. Laureat, wspólnie z zespołem lekarzy i naukowców z Zakładu Medycyny Genomowej Warszawskiego Uniwersytetu Medycznego, opracował unikalną metodologię przeprowadzania testów genetycznych, umożliwiających ocenę genów odpowiedzialnych za powstanie chorób nowotworowych dwudziestokrotnie taniej, niż podobne badania przeprowadzane na świecie, przy zachowaniu wysokiej czułości wykonywanych badań.

W Polsce jest nawet milion osób o podobnie wysokim, jak u Angeliny Jolie, ryzyku zachorowania na raka piesi. Naszym marzeniem jest, by znaleźć je wszystkie i powiedzieć, co zrobić, żeby nie zachorować lub wykryć chorobę wcześnie – podkreślał, odbierając nagrodę, prof. Jażdżewski.

Jestem dumna, że w imieniu kancelarii Dentons, mogłam zgłosić tę nominację i wesprzeć w ten sposób niezmiernie ważną działalność profesora i jego zespołu. Mam nadzieję, że zdobycie tego wyróżnienia sprawi, że wiele firm i organizacji wesprze program „Badamy Geny”, przyczyniając się do uratowania zdrowia i życia tysięcy Polaków – skomentowała Karina Furga-Dąbrowska, partner kierująca Zespołem Doradztwa Podatkowego oraz współkierująca Zespołem Ochrony Zdrowia w Dentons.

Kancelaria Dentons doradzała Pro Bono spółce Warsaw Genomics, utworzonej przez zespół prof. Jażdżewskiego, w zakresie wyboru optymalnego modelu funkcjonowania, w tym opracowania statutu fundacji wspierającej badania, oraz korzystania z zachęt inwestycyjnych na działalność badawczo-rozwojową i kwestiach regulacyjnych dotyczących ochrony danych osobowych pacjentów.

W ubiegłym roku pracownicy i współpracownicy kancelarii Dentons wraz z rodzinami uczestniczyli w akcji umożliwiającej wykonanie kompleksowych badań genetycznych, której towarzyszyły spotkania edukacyjno-informacyjne z udziałem prof. Jażdżewskiego i członków jego zespołu. Każde odpłatne badanie wykonane w ramach akcji, pokrywało koszt dodatkowego badania dla dziecka – pacjenta Centrum Zdrowia Dziecka z podejrzeniem choroby genetycznej, którego rodzice nie mogliby sobie na takie badanie pozwolić, gdyż nie jest ono finansowane ze środków publicznych – powiedziała Agnieszka Wardak, partner odpowiedzialna za działania Pro Bono w warszawskim biurze Dentons i członek Globalnego Komitetu Pro Bono w Dentons. Wiedza o obciążeniach genetycznych jest często kluczowa dla właściwej diagnostyki i podjęcia leczenia. Na bazie testów genetycznych powstaje też atlas genetyczny Polaków, uwzględniający specyfikę zachorowań na choroby genetyczne. Cieszymy się, że badając siebie, mogliśmy wesprzeć dzieci z CZD jak i naszą naukę – dodała Agnieszka Wardak.  



O kancelarii Dentons

Dentons jest największą na świecie firmą prawniczą, oferującą najwyższej jakości doradztwo prawne i biznesowe. Za innowacyjne osiągnięcia w zakresie świadczenia usług prawnych, w tym stworzenie Nextlaw Labs oraz Nextlaw Global Referral Network, Dentons jest regularnie


rekomendowany przez wiodące informatory biznesowe i prawnicze i zajmuje pozycję lidera w zestawieniu „Indeks Elitarnych Globalnych Firm Acritas”. Jest także zdobywcą nagrody BTI Client Service 30 Award. Dzięki policentrycznemu podejściu oraz zapewnianiu klientom dostępu do najbardziej utalentowanych prawników na całym świecie, Dentons rzuca wyzwanie istniejącym standardom obsługi prawnej w społecznościach, w których funkcjonuje.



Dentons to combine with Peru's Gallo Barrios Pickmann

Dentons to combine with Peru's Gallo Barrios Pickmann

Proposed combination uniquely positions firms to meet client needs in one of Latin America's strongest and fastest-growing economies

Dentons, the world's largest law firm, today announced it will form a combination with Gallo Barrios Pickmann in Peru, one of the strongest and fastest-growing economies in Latin America.

The proposed combination would uniquely position Dentons and Gallo Barrios Pickmann to provide high-quality legal services to clients within Peru and around the world.

If approved by the partners of both firms, this combination would give Gallo Barrios Pickmann's clients access to the experience and talents of thousands of lawyers working from more than 60 countries on six continents. Similarly, Dentons' existing global clients would have direct access to the talented lawyers of Gallo Barrios Pickmann in Lima, Peru's capital.

“By combining with a high-quality firm in Peru, Dentons confirms its reputation as not just the largest law firm in the world, but the leading law firm,” said Joe Andrew, Global Chairman of Dentons.

The proposed combination follows a proposed strategic alliance announced earlier this month with Brazil's Vella Pugliese Buosi Guidoni. It also follows the launch earlier this year of Dentons Muñoz in Central America, and the launch last year of Dentons López Velarde in Mexico and Dentons Cardenas & Cardenas in Colombia. These moves are part of our long-planned strategy to build our fast-growing presence in Latin America.

"With this combination we are truly poised to become one of the leading firms in Latin America," said Elliott Portnoy, Global CEO of Dentons. "We are growing faster there—and with truly high-quality firms—than anyone has ever done before."

The combination enhances both firms' depth and reach in key business sectors and practice groups, including Banking and Finance; Corporate; Dispute Resolution and Litigation; Labor, Employment and Migration; Mining and Natural Resources; and Tax.

"The proposed combination with Dentons, with its polycentric approach, will allow us to maintain our deep roots in the local community and the best attributes of our firm, which have enabled us to become one of the elite firms in Peru," said Julio Gallo, of Gallo Barrios Pickmann.

Following approval by partners of both firms, who are expected to vote on it in the next few weeks, the proposed combination will launch later in 2017.



About Dentons

Dentons is the world's largest law firm, delivering quality and value to clients around the globe. Dentons is a leader on the Acritas Global Elite Brand Index, a BTI Client Service 30 Award winner and recognized by prominent business and legal publications for its innovations in client service, including founding Nextlaw Labs and the Nextlaw Global Referral Network. Dentons' polycentric approach and world-class talent challenge the status quo to advance client interests in the communities in which we live and work.

Forum Zamówień Publicznych CMS

INVITATION: On 24 May 2017 CMS organises Public Procurement Forum that will be held at the Business Centre Club in Warsaw on 24 May 2017.

The event will discuss recent trends and developments in the public procurement market both in Poland and across Europe. The speakers and panelists will look at both new EU Directives and their implementation into national legislation as well as recent 2016 changes into Polish Public Procurement Law. 

The agenda will include, in particular: 

  • The bigger (EU) picture – public procurement in Europe in 2017, latest trends and developments;
  • Public procurement in Poland – recent and forthcoming legislative changes, market response and needs;
  • New contract award criteria (MEAT) and LCC – practical approach, economic perspective, as well as views from the EU;
  • Limiting bureaucracy and boosting innovation in public procurement – have the efforts been successful so far?
  • Bid rigging and compliance aspects of public tenders – insight into antitrust and criminal law challenges;
  • Fighting and defending tender outcome – experiences from various Member States.


Our speakers and panellists will be economists and business representatives of various entities and sectors as well as CMS lawyers from several European jurisdictions:


Joanna Baczewska, Board Member, Warsaw Trams Ltd;

Jakub Mikolajczak, Head of Legal, Bombardier Transportation Poland;

Edyta Snakowska-Estorninho, Legal Director, Pratt & Whitney;

Pawel Pawlowski, Self-government Investments Expert; 

Virginie Dor, Member of the European Commission’s Stakeholder Expert Group on Public Procurement, CMS Brussels;

Bernt Elsner, Partner, CMS Austria

Małgorzata Urbańska, radca prawny, Partner, CMS Polska

Arkadiusz Korzeniewski, adwokat, Partner, CMS Polska


and further CMS Partners and experts.

To confirm your attendance, please click here and to review detailed agenda, please click here

The conference will be held in English, but simultaneous translation into Polish will be provided.

Dentons opens in Georgia

2 May 2017 - Dentons, the world’s largest law firm, has entered the Georgian market with the opening of its new office in Tbilisi. The Firm’s expansion into Georgia will solidify Dentons’ market leadership in Central and Eastern Europe (CEE) and the Commonwealth of Independent States (CIS).

”Our new Tbilisi office will further enhance Dentons’ position as the preeminent law firm in CEE, CIS and Central Asia,” said Tomasz Dąbrowski, Chief Executive Officer of Dentons Europe. “With a legacy dating back more than 25 years, not only were we among the first international law firms in the region, but we have also established a solid track record on many of the most important deals and litigations in these emerging markets.”

“In line with our polycentric strategy, Dentons is now the only global law firm to offer clients on-the-ground legal knowledge in Georgia, Kazakhstan, Azerbaijan, Russia, Turkey and Ukraine.  We are in the unique position to serve our clients’ legal needs right across this energy-rich region,” said Elliott Portnoy, Global Chief Executive Officer of Dentons.

The highly ranked team of 11 professionals, including two partners, brings capabilities in Litigation and Dispute Resolution, Corporate, Banking and Finance, Intellectual Property, Energy, Government, and Infrastructure and PPP. The team joins Dentons from DLA Piper.

Evan Lazar, Chairman of the Board of Dentons Europe commented, “Our new colleagues are recognized by Chambers and Partners and Legal 500 among the most distinguished lawyers on the Georgian market. We are truly delighted to welcome them onboard.”

Otar Kipshidze will lead Dentons’ Tbilisi office as Managing Partner and will also head the Litigation and Dispute Resolution practice in Georgia.  He brings extensive experience in litigation, energy, banking and finance and corporate law. Partner Avto Svanidze will lead the local Corporate practice.  He advises on M&A, real estate, financing, restructuring  and infrastructure privatization, and has represented clients in many of the largest transactions on the Georgian market.  Senior Counsel Ted Jonas advises clients on international business transactions, energy and infrastructure projects, government relations, and dispute resolution.  He is dual qualified in the US and Georgia.

Otar Kipshidze commented, “By joining forces with the world’s largest law firm, we will ensure that our clients continue to receive top quality legal advice, both here in Georgia and around the world. We also see excellent synergies arising from Dentons’ strong presence in neighboring countries such as Turkey, Azerbaijan, Russia, Kazakhstan and Ukraine.”

“Our latest office opening adds to Dentons’ incredible growth momentum in Europe,” said Joe Andrew, Dentons Global Chairman.  “Our recent recognition as Europe Law Firm of the Year at the Chambers Europe Awards 2017  shows that our consolidated market presence across Europe is resulting in better service for our clients.”


With the addition of the Tbilisi office, Dentons now employs more than 7800 lawyers in 150 offices across more than 60 countries around the world.



About Dentons

Dentons is the world's largest law firm, delivering quality and value to clients around the globe. Dentons is a leader on the Acritas Global Elite Brand Index, a BTI Client Service 30 Award winner and recognized by prominent business and legal publications for its innovations in client service, including founding Nextlaw Labs and the Nextlaw Global Referral Network. Dentons' polycentric approach and world-class talent challenge the status quo to advance client interests in the communities in which we live and work.

Do Wierzbowski Eversheds Sutherland dołącza dr hab. Konrad Zacharzewski

Do Wierzbowski Eversheds Sutherland dołącza dr hab. Konrad Zacharzewski – specjalista w zakresie rynków kapitałowych i prawa walut cyfrowych.

Z dniem 1 czerwca 2017 roku współpracę z kancelarią prawną Wierzbowski Eversheds Sutherland rozpocznie dr hab. Konrad Zacharzewski. Specjalizuje się w prawie rynku kapitałowego, papierów wartościowych i bankowym oraz prawie walut cyfrowych. Jako Of Counsel wzmocni zespół bankowości i finansów.   

Dr hab. Konrad Zacharzewski jest adwokatem z wieloletnim doświadczeniem w doradztwie prawnym dla instytucji rynku kapitałowego. Zakładał towarzystwo funduszy inwestycyjnych i opracował komplet procedur korporacyjnych, a także projektował emisje certyfikatów inwestycyjnych. Pracując na rzecz wyspecjalizowanego domu maklerskiego, opracował komplet procedur korporacyjnych oraz regulacji wewnętrznych. Jego dotychczasowe doświadczenia w doradztwie dla instytucji rynku kapitałowego koncentrują się również wokół takich zagadnień, jak zarządzanie aktywami, ład korporacyjny, AML, KYC,  outsourcing oraz compliance. 
Jest liderem w doradztwie prawnym dotyczącym walut cyfrowych oraz technologii rozproszonego rejestru (blockchain). Ma na swoim koncie dwie pionierskie w skali kraju publikacje naukowe, stanowiące podstawę prac legislacyjnych w ww. obszarze. Świadczył usługi dla podmiotów związanych z obrotem bitcoinami. Obecnie uczestniczy w koordynowanych przez Ministerstwo Cyfryzacji pracach koncepcyjnych poświęconych usytuowaniu kryptowalut w systemie prawa polskiego oraz w polskiej gospodarce i w życiu publicznym. W dziedzinie bankowej skupia się na kwestiach odszkodowawczej odpowiedzialności banku, pracował również przy sprawach tzw. toksycznych opcji.   

Dr hab. Konrad Zacharzewski łączy praktykę prawniczą z pracą naukową na stanowisku adiunkta w Katedrze Prawa Cywilnego i Bankowego na Wydziale Prawa i Administracji Uniwersytetu Mikołaja Kopernika w Toruniu. 

– Miło mi bardzo powitać profesora Konrada Zacharzewskiego w naszym zespole. Jest on najwyższej rangi specjalistą w dziedzinie prawa rynku kapitałowego i walut cyfrowych. Jako kancelaria od lat doradzamy przy innowacyjnych projektach z wykorzystaniem najnowszych technologii, dlatego cieszymy się, że dzięki wyjątkowemu doświadczeniu profesora w szeroko rozumianej branży fintech będziemy mogli znacznie poszerzyć naszą ofertę w tym obszarze – mówi Ewa Szlachetka, szef zespołu bankowości i finansów w kancelarii Wierzbowski Eversheds Sutherland. 

– To już kolejny specjalista z doświadczeniem w pracy dla sektora finansowego, jaki dołączy do Wierzbowski Eversheds Sutherland w najbliższym czasie. Również 1 czerwca zespół Ryzyka Regulacyjnego i Compliance wzmocni dr Łukasz Cichy, ekspert w zakresie Governance Risk Compliance, który doradzać będzie instytucjom finansowym we wdrożeniu wymogów regulacyjnych w obszarze szeroko rozumianego zarządzania, w szczególności odnośnie Rekomendacji H i Rekomendacji Z. Jestem przekonana, że pozyskanie tak doświadczonych specjalistów będzie stanowiło ogromne wsparcie dla klientów w obliczu nadchodzących wyzwań dla branży usług finansowych – dodaje Ewa Szlachetka. 

Dentons among most desirable employers in Poland

For the second year running, Dentons was awarded the title of the “Most Desirable Employer” among law firms in the “Most Desirable Employers in the Opinion of Specialists and Managers” survey carried out by Antal, a leading international recruitment firm.  Other winners in their respective categories include PKN Orlen, IKEA, Facebook, and Google.

Antal’s survey featured open-ended questions answered on an anonymous basis.  In their reply to the question concerning the most desirable employer, respondents were free to name any company present on the Polish market. 

“We are delighted to have been chosen the “Most Desirable Employer” among other law firms once again. We realize the human element is critical to business success in today’s increasingly competitive marketplace. For this reason, we strive to create an environment conducive to the development of professional skills and competencies so that we can offer our clients and business partners the services of the most talented lawyers in Poland, Europe and worldwide,” said Arkadiusz Krasnodębski, Dentons Poland Managing Partner.

The results of the 7th edition of the “Most Desirable Employers in the Opinion of Specialists and Managers” survey were published on 25 April at an official gala event in Warsaw.

The annual survey was carried out by Antal between November 2016 and January 2017.  Approximately 3,300 specialists and managers based in various locations in Poland, evaluated firms from 16 industries, including the banking, consulting and legal sectors.

For the full report, go to Antal’s website.




About Dentons

Dentons is the world's largest law firm, delivering quality and value to clients around the globe. Dentons is a leader on the Acritas Global Elite Brand Index, a BTI Client Service 30 Award winner and recognized by prominent business and legal publications for its innovations in client service, including founding Nextlaw Labs and the Nextlaw Global Referral Network. Dentons' polycentric approach and world-class talent challenge the status quo to advance client interests in the communities in which we live and work.

Sięgać po więcej. 3,8 mld+ dla polskiej energetyki

Po raz kolejny PwC przygotowało raport o kluczowych wyzwaniach dla sektora energetycznego.

 „Sięgać po więcej. 3,8 mld+ dla polskiej energetyki” przedstawia pięć obszarów, które mogą stanowić źródło podniesienia efektywności w sektorze elektroenergetycznym. Ich właściwe wykorzystanie to szansa na skuteczne wykorzystanie aktualnych zasobów oraz zidentyfikowanie nowych źródeł przychodów.

Wśród obszarów znalazły się:

  • Możliwości związane z samochodem elektrycznym 
    ·        Era analityki danych produkcyjnych 
    ·        Zintegrowane zarządzanie wiedzą o klientach 
    ·        Nowe strumienie przychodów 
    ·        Crowdfunding - alternatywne źródła finansowania inwestycji

Na bazie posiadanych zasobów i infrastruktury, polska energetyka możne zyskać ponad 3,8 mld+ PLN. Na kwotę tą składa się wartość generowana w wyniku rozwoju elektromobilności (2,0 mld PLN) oraz wykorzystania finansowania społecznościowego (1,8 mld PLN). „+” oznacza dodatkowy potencjał pozwalający na generowanie setek milionów złotych rocznie dla sektora, który na obecnym etapie rozwoju rynku nie jest możliwy do precyzyjnego oszacowania.

Raport można pobrać na

Zapraszamy do lektury.

Wierzbowski Eversheds Sutherland wśród wiodących polskich doradców w obszarze ochrony danych osobowych i TMT

Praktyka danych osobowych i TMT kancelarii prawnej Wierzbowski Eversheds Sutherland została doceniona w ostatnim czasie przez cztery prestiżowe rankingi: Legal 500, Chambers Europe, ranking dziennika Rzeczpospolita oraz Polityki Insight.  

W międzynarodowym rankingu The Legal 500 Europe, Middle East and Africa (2017) kancelaria wyróżniona została w 11 kategoriach, kolejny rok z rzędu zajmując pozycję lidera w obszarze TMT. Wyróżnienia indywidualne przypadły w udziale Gerardowi Karpowi oraz dr Arwidowi Mednisowi. (Leading individual).  

W XV edycji Rankingu Kancelarii Prawniczych dziennika Rzeczpospolita dziewiąty rok z rzędu kancelaria rekomendowana została w kategorii Technologie Media i Telekomunikacja. Po raz dziewiąty rekomendację indywidualną otrzymałrównieżdr Arwid Mednis.

W rankingu Chambers Europe praktyka TMT zajęła pozycję trzecią, zaś rekomendacje indywidualne otrzymali również jej szefowie – dr Arwid Mednis oraz Gerard Karp.   

Drugi rok z rzędu kancelaria została doceniona w Rankingu Kancelarii Regulacyjnych Polityki Insight, tym razem awansując na pozycję lidera w kategorii Dane osobowe oraz zajmując trzecie miejsce w kategorii Telekomunikacja. 

Więcej na


In the judgment of December 20, 2016, the Regional Court in Warsaw ordered GDDKiA to pay a consortium of contractors almost PLN 30 mln plus interest for a period of more than four years. The consortium of Polimex-Mostostal S.A., Mostostal Warszawa S.A. and Acciona Infraestructuras S.A. was represented by the law firm White & Case. The judgment is now final and enforceable.

The case regarded the consortium’s claim for payment of the remuneration for construction works, which GDDKiA did not pay, stating that it had deducted its own claim for the payment of a contractual penalty. The court ruled that GDDKiA was not entitled to a penalty and ordered that the entire requested amount plus interest be paid to the consortium members. The contract between the parties was executed on the basis of the so-called FIDIC Yellow Book.

The essence of the case was whether a contractor is required to introduce changes to a revised work program demanded by an engineer. The problem arose from the fact that during the performance of the construction works on the A2 motorway the contractor encountered certain objective obstacles (e.g., delayed access to the construction site, the Rawka River overflowing its banks, etc.). Consequently, in the revised version of the program the contractor indicated that certain works might be finished after the completion date indicated in the contract. The employer and the engineer insisted that such revision of the program was a violation of the contract. In GDDKiA’s opinion, the revised program could not include completion dates other than those indicated in the contract. The engineer therefore instructed the contractor to take into account its remarks concerning the noncompliance of the revised program by presenting a revision indicating that all the works would be completed on time. The contractor did not comply with that instruction and insisted that it was entitled, and moreover obliged, to include completion dates in the revised program that were, at a given moment, realistic in its opinion. 

GDDKiA therefore imposed a contractual penalty on the contractor in the amount of 0.03% of the contract price for each day that the engineer’s remarks on the revised program were not taken into consideration. The penalty was almost PLN 30 million. Next, GDDKiA deducted the penalty amount from the contractor’s remuneration, even though the contractor was able to eliminate the delay so that ultimately the construction works were completed on time.

The Regional Court in Warsaw agreed with the consortium’s view that the program should reflect the actual state of construction works and not hypothetical assumptions. The court emphasized that the program served an informational purpose and the contractor was in fact obliged to indicate in the revised program all threats that could impact the timely completion of the works. 

The court also stated that the fact that the contractor is required to take into account the engineer’s comments on the revised program does not mean that it must introduce all the changes demanded by the engineer. The court therefore found that the contractor had not breached the contract and consequently it could not be ordered to pay a contractual penalty. The deduction of the penalty from the remuneration for the works was thus ineffective. 

The White & Case team handling the matter included: Michał Subocz, partner and head of the Disputes Resolution practice, Piotr Bytnerowicz, counsel, and Katarzyna Misztal and Łukasz Zbyszyński, associates.


Mariusz Mroczek

Senior Business Development Manager

White & Case M. Studniarek i Wspólnicy - Kancelaria Prawna sp.k.

+ 48 22 50 50 225; This email address is being protected from spambots. You need JavaScript enabled to view it.

Webinar: A... B... C... of the General Data Protection Regulation (GDPR)

11 April 2017, 10 a.m.-11 a.m.

For many entrepreneurs now the last moment  to start implementing the provisions of the EU General Data Protection Regulation (GDPR) is now. Why? 
GDPR imposes  the obligation of “self-diagnosis” and “self-healing” on the entrepreneurs. These provisions do not provide solutions – it is the entrepreneurs, who should find them. The solutions should be tailored to the risk related to  personal data protection, occurring at  given business. 

There is less than 300 working  days  left for performing such analysis and coming up with solutions. Entrepreneurs have time only until 25th May 2018 to adjust to the regulations. However, many entrepreneurs still do not  have the basic information on the requirements resulting from the GDPR. To address the existing needs of entrepreneurs, PwC experts have prepared a webinar A… B… C… of the General Data Protection Regulation

During the webinar the following issues related to the requirements of the GDPR will be discussed: 

  • effective date of GDPR entering into force and time limit for the implementation;
  • new approach to personal data protection: risk analysis, lack of ready-made solutions, tailoring solutions to the given risk;
  • new obligations of entrepreneurs: designing data protection, privacy by default, data breaches notifications;
  • abandoning the obligation of keeping the registers by the authority body and switching to  keeping own register of personal data processing operations within the company
  • divergence from the requirements for documentation of data protection and switching to the system of using any documentation selected at own discretion, but tailored to the needs of the entrepreneur;
  • financial penalties imposed on entrepreneurs for infringement of the GDPR’s rules.

Webinar will be conducted by: 

Sylwia Pusz, Partner responsible for GDPR services in PwC 
Anna Kobylańska, Counsel and an advocate and Head of the intellectual property rights, new information technologies and personal data protection practice of PwC Legal in Poland 
Magdalena Kaj, Associate in the GDPR Team, PwC 

Online seminar will be conducted in Polish and is free of charge. 
Further details and the registration form are available at the organizer’s website:

Dentons launches 2017 edition of its ‘Investing in renewable energy projects in Europe’ guide

The renewable energy market never stands still. Technical advances and the increased prevalence of competitive tendering mechanisms are driving down costs globally. Changes in political and economic conditions can trigger regulatory changes that transform the climate for renewable projects in a country overnight – and not always for the better.

Across Europe as a whole, however, the renewables industry continues to expand and develop. Commercial success in the renewables sector continues to hinge on understanding current and anticipating future trends, spotting opportunities as they arise, minimizing risk and putting in place an agile business model that is capable of surviving shocks and uncertainties.

Download the 2017 edition of our guide “Investing in renewable energy projects in Europe”. It highlights key regulatory developments and gives snapshots of the prospects for renewable energy projects in 16 jurisdictions across Europe and Central Asia, including Belgium, France, Germany, Italy, Poland, Spain, Romania and Turkey.

Dentons produced this guide in cooperation with Recharge, the global source for renewable energy news and intelligence.



For further information, please contact:

Iryna Batmanova

Business Development and Marketing Manager, Energy, Europe

+48 22 24 25 106

This email address is being protected from spambots. You need JavaScript enabled to view it.



About Dentons

Dentons is the world's largest law firm, delivering quality and value to clients around the globe. Dentons is a leader on the Acritas Global Elite Brand Index, a BTI Client Service 30 Award winner and recognized by prominent business and legal publications for its innovations in client service, including founding Nextlaw Labs and the Nextlaw Global Referral Network. Dentons' polycentric approach and world-class talent challenge the status quo to advance client interests in the communities in which we live and work.


On February 23, 2017, the Supreme Court ruled in favor of the cassation appeal submitted by White & Case on behalf of a Polish and Spanish consortium led by Mostostal Warszawa S.A. In this precedent-setting case, the Supreme Court determined who the defendant must be in cases regarding the abuse of a bank guarantee.

The consortium wanted a ruling confirming that the beneficiary had no right to enforce a bank guarantee securing the proper performance of an agreement for upgrading a section of a national road into an express road.

The Supreme Court agreed with the consortium, holding that, contrary to the rulings of some appellate courts, in disputes on the abuse of a bank guarantee the scope of standing is determined by the contents of the requests in a statement of claim. This means that, if the claims are properly worded, a claim for a determination that there is no right to demand payment from a bank guarantee does not have to be raised against the bank that issued the guarantee. It may be sufficient to sue the guarantee beneficiary (in this case, the party that contracted the construction work).

The ruling of the Supreme Court is crucial for other cases concerning bank and insurance guarantees since it resolves a legal issue that until now was unclear to practitioners and led to conflicting case decisions.

The White & Case team representing the consortium included Michał Subocz, the partner in charge of the Disputes Resolution practice, Piotr Bytnerowicz, counsel, and associates Jakub Wołkowicz and Emanuel Wanat.

Mariusz Mroczek
Senior Business Development Manager
White & Case M. Studniarek i Wspólnicy - Kancelaria Prawna sp.k.
+ 48 22 50 50 225; This email address is being protected from spambots. You need JavaScript enabled to view it.

Dentons advised on tender offer for sale of shares in the largest Polish healthcare company

Dentons advised the offeror – Korporacja Inwestycyjna Polskiej Farmacji sp. z o.o. – with regard to the tender offer for sale of 100% shares in Pelion S.A.

The offeror is a company controlled by Mr. Jacek Szwajcowski, with Mr. Zbigniew Molenda holding a minority stake. Messrs. Szwajcowski and Molenda are both founders of Pelion. The tender offer is addressed to other shareholders of Pelion S.A.

It is the largest tender offer for shares of a company listed on the Warsaw Stock Exchange this year. 

The Pelion group consists of ca. 170 subsidiaries. Services provided by the group encompass all market sectors (wholesale, retail and the hospital market) and are addressed to patients, pharmacies, hospitals and manufacturers.  Pelion S.A. is a holding company exercising ownership supervision over all areas of the business of the Group, implemented accordingly by Polska Grupa Farmaceutyczną SA – wholesale, PGF Urtica – supplies for hospitals, CEPD N.V – retail sale and Pharmalink – services for manufacturers.

The Dentons team assisting the transaction was headed by Jakub Celiński, partner of Dentons Warsaw acting in cooperation with Michał Mężykowski (partner), Ryszard Manteuffel and Piotr Nerwiński (senior associates) and Lee Federman, partner of Dentons London.




About Dentons

Dentons is the world's largest law firm, delivering quality and value to clients around the globe. Dentons is a leader on the Acritas Global Elite Brand Index, a BTI Client Service 30 Award winner and recognized by prominent business and legal publications for its innovations in client service, including founding Nextlaw Labs and the Nextlaw Global Referral Network. Dentons' polycentric approach and world-class talent challenge the status quo to advance client interests in the communities in which we live and work.

CMS advised Pradera

CMS has advised Pradera, one of Europe's leading specialist retail property fund and asset managers, on the Polish and Czech aspects of the transaction concerning acquisition of 25 prime retail parks in eight European countries for EUR 900 million.

The parks, each located beside an Ikea store, have been sold to the Pradera European Retail Parks SCSp fund which is backed by equity investments from private wealth partnership, LJ Partnership. LJ Partnership took a significant minority stake in the business in May 2016.

The portfolio of retail parks situated next to IKEA stores comprises around 500 units with a gross lettable area of around 538,000 sqm. Completion on 17 assets located in Germany, France and Poland is expected on 4 April 2017, with a further eight retail parks in Sweden, Finland, Denmark, the Czech Republic and Switzerland due to complete on 31 August. 

Pradera is a market leading specialist fund and asset manager of shopping centres and retail parks in Europe and Asia. Founded in 1999, Pradera’s  EUR 2.7 billion portfolio prior to this acquisition comprised 44 shopping centres and retail parks in the UK, Spain, Italy, Germany, Poland, the Czech Republic, Greece, Turkey and China with more than 2,500 stores.

The team was led by partners Wojciech Koczara (Poland) and Lukas Hejduk (Czech Republic) supported by Marcin Pasik, Joanna Pierzchała, Michał Maślak (real estate team), Grzegorz Pączek (corporate team), Konrad Werner (Banking and International Finance) in Poland and Petr Koral, Petr Huk (real estate team) and Lukas Valusek (Banking team) in the Czech Republic. The CMS team was responsible for the due diligence of the Polish and Czech assets and supporting in the preparation of transaction documentation including financing documentation.

CMS and DZP advised on the purchase of Sheraton Grand Kraków Hotel

CMS advised Invesco Real Estate, a global investment management firm, on the purchase of Wawel Holding Sp z o.o., the company owning the Sheraton Grand Kraków Hotel. DZP advised Algonquin, a pan-European hotel investor and operator, on the sale of Wawel Holding sp. z o.o. 

The transaction closed on 28 February 2017 for a total value of €70 million.

“The transaction was particularly interesting due to the significance of the Sheraton Grand Krakow Hotel for Krakow's hospitality market." said Wojciech Szybkowski and Adriana Andrzejewska from CMS, while Bartosz Marcinkowski and Marcin Kuliński from DZP stressed the complexity of the deal, not unusual in the hotel sector.

CMS's work was coordinated by Wojciech Szybkowski, partner, and Adriana Andrzejewska, senior associate, working together with Piotr Przybylski, associate in the Real Estate Practice. Małgorzata Urbanska, partner, and Michal Derdak, senior associate, from the CMS Competition team, advised on antitrust clearance for the transaction. Konrad Werner, senior associate, from the Banking and Finance Practice was also involved in the project.

DZP’s work was led by Bartosz Marcinkowski, partner, and Marcin Kuliński, senior associate, assisted by Agata Iżyk, associate, all from DZP's M&A & Corporate Practice, with key contributions from Magdalena Skowrońska, partner, Paulina Armada-Rudnik, associate, both from DZP's Capital Markets and Financial Institutions Practice and Joanna Wierzejska, tax partner in DZP's Tax Practice.

Dentons Expands Global Presence to the Netherlands Announcing Combination with Respected Dutch Firm Boekel

Dentons Expands Global Presence to the Netherlands Announcing Combination with Respected Dutch Firm Boekel

Dentons, the world’s largest law firm, announced today that it will enter the Netherlands through a combination with respected Dutch law firm Boekel.  The partners of both firms have approved the deal, which is expected to close in April 2017. With the addition of the Amsterdam office, Dentons will have 26 offices in 18 countries across Europe.

“This is a landmark achievement in furthering our strategy for Europe,” said Tomasz Dabrowski, Chief Executive Officer for Dentons Europe.  “Two years ago, we set out our vision for growth, with an ambitious goal to enter three new markets: Italy, Luxembourg and the Netherlands.  We opened in Milan in October 2015, and in Luxembourg and Rome last year, and are now continuing the momentum with our combination in Amsterdam.”

“As the first polycentric law firm, we are committed to bringing our clients quality legal talent in the world’s most important business centers,” said Elliott Portnoy, Dentons’ Global CEO. “The Netherlands is the sixth largest economy in the European Union and a hub for international trade.  Due to its business-friendly climate, it is an attractive location for corporate headquarters and therefore a key market for our multinational clients.”

Boekel is an Amsterdam-based law firm employing approximately 70 lawyers, including 16 partners.  The firm provides clients with full service legal advice, with a particular focus on  real estate, corporate and litigation.

As a result of the combination, Boekel’s clients will gain access to the experience of more than 7,600 lawyers in more than 60 countries around the world.

“As a dynamic young firm, committed to challenging the status quo, the team at Boekel is an excellent cultural fit for Dentons.  We share a common vision and values – particularly in the area of innovation.  We look forward to working with the team there as we continue our journey to build the law firm of the future today,” said Joe Andrew, Global Chairman at Dentons.

Wendela Raas, Managing Partner of Boekel, said, “Our clients will continue to receive the same personalized and practical advice they have come to expect from Boekel, while at the same time benefitting from Dentons’ unmatched global reach.” 

Marien Glerum, CEO of Boekel, said, “We are very excited to be joining Dentons, which will provide us with an excellent platform for further growth and development within the Netherlands, particularly in the Corporate, M&A and Banking and Finance practices. Furthermore, we can directly benefit from Dentons’ innovations in legal technology. The combination makes us even more attractive as a firm for ambitious lawyers.” 

Name and brand 

Globally the firm operates under the name "Dentons" in English and all other languages except for Chinese. In Chinese, the firm is known as "大成". 

Dentons and its combination partners have always sought to capitalize on strong legacy brands through a conscientious, innovative brand migration strategy that captures the goodwill which the lawyers and professionals of each foundational firm have built with existing clients in the regions they serve, while simultaneously developing and supporting the Dentons brand around the world. At launch, the new firm will be known in the Netherlands as Dentons Boekel.




About Dentons

Dentons is the world's largest law firm, delivering quality and value to clients around the globe. Dentons is a leader on the Acritas Global Elite Brand Index, a BTI Client Service 30 Award winner and recognized by prominent business and legal publications for its innovations in client service, including founding Nextlaw Labs and the Nextlaw Global Referral Network. Dentons' polycentric approach and world-class talent challenge the status quo to advance client interests in the communities in which we live and work.


About Boekel
Boekel is a full-service business law firm, founded in Amsterdam in 1957.  Approachable and practical, the firm provides industry-focused legal advice to assist Dutch and international clients in all aspects of their business operations, transactions and litigation.  Boekel combines personalized service with a hands-on mentality to help clients address increasingly complex issues in today’s fast moving world. Using a consultative, innovative approach, Boekel offers realistic, high quality solutions tailored to clients’ needs.

CMS advises on its intended delisting from the Warsaw Stock Exchange

CMS advised in the process of finding an investor – private equity fund Advent International through AI Prime – and the planned exit from the stock exchange.

As part of the agreement signed yesterday, the parties agreed to announce tender offers to subscribe for shares in and its subsidiary InPost and to delist the shares of both companies from the Warsaw Stock Exchange. The transaction is financed solely by Advent International through its subsidiary AI Prime Luxembourg, which will allocate approx. 170 million PLN for debt refinancing. The Fund will also provide an additional ca. 500 million PLN for the purposes of financing the future funding needs.

Rafał Woźniak (counsel) and Zuzanna Jurga (senior associate) led the team of lawyers from CMS. The team consisted of: Dariusz Greszta (partner), Rafał Kluziak (senior associate), Magdalena Trzepizur (associate), Jakub Szczygieł (lawyer) and Agnieszka Ziółek (senior associate). The team was supervised by Michał Pawłowski, partner and head of CMS’ Capital Markets Practice in CEE. In addition, Graham Conlon (partner based in Warsaw) and Valentina Santambrogio (senior associate, London) from International Private Equity at CMS were involved in the deal.


Eversheds Sutherland launches globally on 1 February 2017

Eversheds Sutherland, created by the combination of leading law firms, Eversheds, headquartered in the U.K., and Sutherland Asbill & Brennan LLP, based in the U.S., launches globally today under the name Eversheds Sutherland.With more than 2,300 lawyers in 61 offices across 29 countries, Eversheds Sutherland ranks in the top 10 in UK listings and top 40 in U.S. global listings.

The two firms announced on 16th December 2016 that their respective partners had voted overwhelmingly to combine. Since then, both firms have been working closely to advance the shared goal of providing clients with quality, innovation and consistency in legal services delivery around the globe. Today, the combination is effective.
Eversheds Chief Executive, Bryan Hughes, commented:
“Establishing a truly global platform for our clients, including a strong presence in the U.S., has long been our number one strategic priority. I am delighted that, with the creation of Eversheds Sutherland, that vision finally becomes a reality. Sutherland shares completely our approach to the creation of meaningful long term relationships with clients to deliver the very highest levels of service. We are very much looking forward to working together, collaborating as equal partners to create a new and powerful offering in the legal sector.”
Sutherland Managing Partner, Mark Wasserman, commented:
“We are grateful for the overwhelmingly positive response we have received from our clients, partners and staff about the bright future ahead for Eversheds Sutherland. This new relationship, strengthens our core competencies and provides us the opportunity to expand our client services globally. Working together with our new colleagues worldwide, we are committed to delivering the benefits of this broadened international platform to our clients.”
Eversheds Managing Partner and CEO-Elect, Lee Ranson, commented:
“Since the partner vote, things have moved on apace which says a lot about the collaborative relationship that already exists between us. Our joint focus is clear – it’s all about client service both for existing arrangements and in enhancing our offering for those who could benefit. The reaction internally and externally so far could not have been better with the opportunities and work presented to us already sending us a clear message that our global platform and approach to quality, innovation and client service is highly compelling.”
Krzysztof Wierzbowski, Managing Partner of Wierzbowski Eversheds Sutherland, commented:
"Eversheds has an established reputation when it comes to international client service, and our strategic ambition is to provide the highest quality of services for those in need of legal counselling throughout the world. Joining forces with Sutherland provides clients of the combined firm just such a global platform. The combination of the two firms also generates many new opportunities and possibilities for the Polish office. It enables expansion of the client base and strengthens a number of important practice areas which Sutherland also specialises in. As a result of the Eversheds and Sutherland combination, the Polish office is able to respond even better to the needs of our clients planning to enter the US market or conduct transactions there, or engaged in disputes with companies in the United States. The creation of the new firm is exciting news for our existing US clients, who represent a significant part of our portfolio".

Eversheds Sutherland will be led by joint CEOs as part of a six-strong global management team. Eversheds Sutherland (International) LLP Managing Partner and CEO-Elect, Lee Ranson, and Eversheds Sutherland (US) LLP Managing Partner, Mark Wasserman, have been appointed as joint CEOs. 
The other members of the global management team are: Keith Froud and Ian Gray from Eversheds Sutherland (International) LLP and Victor Haley and Thomas Gick, until April 2017, to be followed by Cynthia Krus, from Eversheds Sutherland (US) LLP. 
Eversheds Sutherland Ltd is overseen by a global Board of ten with equal representation from both firms.  From Eversheds Sutherland (International) LLP: Keith Froud, Lee Ranson, Paul Smith, plus two rotating members from their international board and Regional Managing Partner team. From Eversheds Sutherland (US) LLP: Ben Clark, Thomas Gick until April, Cynthia Krus from April, Robert Pile, Eric Tresh, Mark Wasserman.
There are no significant internal structural changes anticipated within either firm and respective practice group heads are working together to co-lead client initiatives.

Eversheds combines with Sutherland | Wierzbowski Eversheds Sutherland emerges with new name and visual identity

Eversheds combines with Sutherland | Wierzbowski Eversheds Sutherland emerges with new name and visual identity.

We are pleased to announce that on 1 February 2017 the newly created firm Eversheds Sutherland was launched on the international legal services market. The global law firm arising from the combination of Eversheds and the American law firm Sutherland Asbill & Brennan has 61 offices in 29 countries and a total of more than 2,300 lawyers. As a result of the combination, our law firm is changing its name to Wierzbowski Eversheds Sutherland Sp. k. 

Combining the strengths of Eversheds and Sutherland is a huge step in the process of building a firm with global reach, and another milestone in the development of our Polish firm. From now on we will be able to better respond to the needs of our existing US clients and clients who intend to enter the US market, plan to conduct transactions there, or are engaged in disputes with companies in the US. The combination with Sutherland also allows us to strengthen a number of practices that are important to us and which Sutherland has also specialised in, such as energy, corporate law, taxation, financial services including insurance, intellectual property, litigation and real estate.

The American law firm Sutherland Asbill & Brennan was founded in 1924. Prior to the combination with Eversheds it had six offices in the US and two in Europe. The firm works for the biggest global companies and its client portfolio includes more than half of the US Fortune 100 companies.  

The legal identity of Wierzbowski Eversheds Sutherland remains unchanged, and thus the new name does not mean that you need to amend agreements or the like. The registration data, such as the VAT number and the postal address, remain unchanged. If it is necessary to supplement the paperwork in our cooperation going forward, we will let you know.

Our website address has changed to Our new e-mail addresses follow the pattern This email address is being protected from spambots. You need JavaScript enabled to view it. . However, if you send us an e-mail to an earlier address, the message will still reach us. 

We invite you to follow us on LinkedIn, where the new profile Wierzbowski Eversheds Sutherland has just appeared, and on Twitter and Facebook. You will find interesting articles, legal alerts and invitations to events organized by us in each of these channels.


PwC conference on Employee Equity Plans on 1st February, 2017

PwC organizes a conference on Employee Equity Plans on 1st February, 2017. Zapraszamy do udziału w konferencji „Pracownicze programy akcyjne - szansa dla firm, szansa dla Polski”.

Podczas spotkania odpowiemy na pytanie, czy programy te mają szansę stać się popularne w Polsce, przeanalizujemy, jakie warunki są niezbędne, aby mogły się rozwinąć, a przede wszystkim podpowiemy, jak w praktyce wdrażać je w spółkach. 

Temat jest warty uwagi, gdyż istniejące badania wskazują, że spółki posiadające pracownicze programy akcyjne (PPA) z istotnym udziałem pracowników w akcjonariacie osiągają o 1-2 proc. wyższą dynamikę wzrostu przychodów. W firmach, w których od lat funkcjonują PPA, wzrasta też retencja, motywacja i wydajność pracowników. W rezultacie wiele podmiotów z PPA osiąga przeszło 20% większe zyski niż podmioty analogiczne o innej strukturze własnościowej.

Dodam także, iż gościem specjalnym konferencji będzie Pan Minister Mariusz Haładyj, Podsekretarz Stanu w Ministerstwie Rozwoju, którego wystąpienie będzie dotyczyło społecznej i gospodarczej roli pracowniczych programów akcyjnych.

Konferencja jest bezpłatna i odbędzie się 1 lutego 2017 r.

Szczegóły znajdują się w załączonym zaproszeniu oraz na stronie wydarzenia.





Dentons advises Enlight Renewable Energy of a wind farm in Croatia

Dentons advised Enlight Renewable Energy on the construction and multijurisdictional financing of a 49 MW wind farm near the Adriatic port of Split in Croatia. 

Counsel Agnieszka Kulińska, supervised by Arkadiusz Krasnodębski, Poland Managing Partner and Head of the Warsaw and European Energy and Natural Resources practice, provided comprehensive legal advisory concerning the preparation of construction and maintenance contracts for the wind farm, including the balance of plant agreement, operations and maintenance agreement for the substation, turbine supply agreement and full services agreement. She also represented the client in negotiations at each phase of the project. The Warsaw-based team led this project as foreign experts, coordinating the work of local advisors in Croatia. 

„The Warsaw Energy and Natural Resources team has for years been highly regarded by Polish and international clients and business partners. We are pleased that Enlight Renewable Energy has entrusted us with legal advice on this complex and multi-aspect project in which we were able to utilize our long-established and broad experience in the scope of renewable energy,” commented Agnieszka Kulińska, Counsel in the Warsaw Energy and Natural Resources team.

The financing of the transaction involved the laws of Croatia, England, USA, Israel and Germany and encompassed advice in the scope of general management of legal aspects of the transaction, negotiations of the finance documents, including approx. EUR 29 million and HRK 155 million facilities agreement, coordination of the multijurisdictional legal advice provided to Enlight Renewable Energy as well as assistance with fulfilment of the conditions precedent to the first utilization of the facilities.

The financing transaction was led by Mateusz Toczyski, Partner and Head of the Polish and European Banking and Finance Practice, and Counsel Agnieszka Lipska with support from Associates Krzysztof Mrozik and Łukasz Błaszczak, as well as lawyers from other relevant jurisdictions.

"This is a milestone transaction for us, showcasing the Dentons Warsaw banking practice as an internationally recognized adviser in multijurisdictional transactions, coping smoothly with various issues in different legal systems," commented Agnieszka Lipska, Counsel in the Warsaw Banking and Finance team.  "Our people are regarded as professional advisers delivering seamless cross-border advice," added Partner Mateusz Toczyski.  

Enlight Renewable Energy is a Tel Aviv Stock Exchange listed company specializing in the initiation, development, financing, construction, management and operation of renewable energy projects. Operating on a local and global scale, the company has successfully executed over 150 wind and solar projects in Israel and Europe and procured project financing for projects encompassing over US $500 million granted by leading banks and financial institutions in Israel and worldwide. The company is currently operating, constructing and developing over 1GW of projects.



About Dentons

Dentons is the world's largest law firm, delivering quality and value to clients around the globe. Dentons is a leader on the Acritas Global Elite Brand Index, a BTI Client Service 30 Award winner and recognized by prominent business and legal publications for its innovations in client service, including founding Nextlaw Labs and the Nextlaw Global Referral Network. Dentons' polycentric approach and world-class talent challenge the status quo to advance client interests in the communities in which we live and work.

CMS provides legal advice in yet another family business transaction

CMS has advised the shareholders of Polska Dystrybucja Alkoholi on the sale of 100% of the company’s shares to Eurocash Group. The share purchase agreement was concluded on 30 December 2016, following the fulfilment of the President of the Consumer and Competition Protection Office’s condition that a warehouse for alcoholic beverages in Pabianice, owned by Polska Dystrybucja Alkoholi, be excluded from the planned transaction.

In the last three months CMS’s corporate team also supported the family business Allcom as well as the founders of a chain of restaurants operating under the brand name Thai Wok in the sale process. 

“After years of dynamic growth many Polish companies and family businesses are looking for new sources of financing to further their development, obtain new know-how or create structures that provide support for international operations. At the same time, they are large businesses with good prospects that represent attractive assets for private equity funds or industry investors. There will be more and more of these kinds of transactions on our market, also in connection with the generational change we observe within Polish enterprises. Just in the last quarter of 2016 we supported three Polish businesses with established market positions in relation to ownership changes. A smooth transfer of power in an enterprise requires a lot of preparation. It is crucial to work out, within this process, one’s own business and legal solutions, not only to allow the further development of the company, but also to help maintain the current system of values as well as the manner of doing business,” emphasises Marek Sawicki, partner responsible for transactions at CMS.

Polska Dystrybucja Alkoholi – since November known as Jantoń Dystrybucja – was established in 2002 and distributes alcoholic beverages. Eurocash is the largest Polish group dedicated to the wholesale distribution of food products, household chemicals, alcohol and tobacco products (FMCG). The company has been listed on the Warsaw Stock Exchange since 2005. As announced by Eurocash Group, the acquisition of PDA “is yet another element of the Group's acquisition policy” and “enables the further development of Eurocash Group in the segment of alcohol distribution as well as a potential revenue growth”. 

The transaction was conducted by CMS’s Marek Sawicki, partner and co-head of Corporate/M&A Department.

Nowy prawnik w CMS z angielskimi uprawnieniami solicitor

CMS has gained yet another lawyer qualified to provide English law services. On 16 January Anna Wawrzyńczak-Palynyczak LL.M., legal counsel and senior associate in the Banking and International Finance Department, became a qualified English law solicitor. Thus, Anna Wawrzyńczak has joined a very narrow group of Polish lawyers who are qualified to offer advice under English law.

Anna has extensive experience in dealing with cross-border and local financial transactions, including financing company acquisitions using senior debt in the form of credit facilities, or through bond issues and mezzanine financing. She has provided advice in relation to projects such as CVC’s acquisition of PKP Energetyka and Bridgepoint’s acquisition of the Smyk chain.

“In recent years there have been more and more transactions involving Polish companies being carried out under English law. It is a legal system that is most commonly used for large transactions, due to the involvement of foreign investors. In the case of financing acquisitions of Polish companies, the choice of English law definitely makes it easier to obtain financing from foreign financing entities,” says Anna Wawrzyńczak­-Palynyczak.

As a lawyer qualified to provide services under English law, Anna Wawrzyńczak-Palynyczak intends to further develop her practice related to the financing of M&A transactions and other types of financing, providing clients with the added benefit of Polish language advice and knowledge of both legal systems, which may significantly streamline the process.

Changes in Labour Code from 1 January 2017

Legal Alert. Changes in Labour Code from 1 January 2017. The Act of 16 December 2016 amending certain acts to improve the legal environment of entrepreneurs (Journal of Laws of 2016 item 2255), introducing a number of changes in Polish employment law, entered into force on 1 January 2017.

Longer period to appeal termination

The act unifies and extends the periods for appeal from a statement of termination of employment and for appeal from a notice refusing to admit the employee to work. These periods were previously 7 days in the case of a termination upon prior notice and 14 days in the case of termination without prior notice.

Following the amendment, the period for appeal is 21 days, counted respectively from date of delivery of the statement giving advance notice of termination of the employment contract, the statement of termination without prior notice, or the statement on refusal to admit the employee to work.

The interim provisions may be relevant in the case of notices of termination with or without prior notice delivered near the end of 2016. If the shorter appeal period previously in force was still running on 1 January 2017, the appeal period is extended to 21 days.

Workplace regulations and remuneration regulations mandatory for employers of at least 50 employees

From 1 January 2017 the obligation to adopt workplace regulations and remuneration regulations applies to employers with at least 50 employees, if the employees are not covered by collective labour agreements in this respect.

Previously, this requirement applied to employers employing at least 20 people. Following the amendment, an employer with at least 20 employees, but fewer than 50, may introduce such regulations, and is required to do so if requested by an enterprise trade union organization.

Analogous rules apply to the obligation to establish a company social benefit fund. Employers employing at least 50 employees (calculated as the equivalent of 50 full-time positions) as of 1 January of a given year are required to establish a company social benefit fund. Employers of the equivalent of at least 20 full-time positions, but fewer than 50, must establish a social benefit fund if requested by an enterprise trade union organization.

Issuance of work certificates

From 1 January 2017 an employer will no longer be required to issue a work certificate to an employee if it intends to establish another employment relationship with the employee within 7 days after termination or expiration of the previous employment relationship. The obligation to issue work certificates for completed periods of employment for a probationary period or employment for a definite period with the given employer, after 24 months of employment, has also been eliminated. However, the interim regulations require employers to issue work certificates to employees employed on 1 January 2017 on the basis of a successive employment contract for a probationary period or a definite period with the same employer, for periods of employment completed prior to 1 January 2017 for which no work certificate has been issued. The deadline for issuing these certificates is 30 June 2017.

From 1 January 2017 a new form for work certificates is in force, introduced by the Regulation of the Minister of Family, Labour and Social Policy on Work Certificates of 30 December 2016 (Journal of Laws of 2016 item 2292).

Agreements on joint financial liability

Under the amending act, agreements on an employee’s joint financial liability for property of the employer entrusted to the employee will now have to be in writing in order to be valid. This change does not affect agreements entered into before 1 January 2017. Such agreements will remain valid even if they were not made in written form. 


Ewa Łachowska-Brol


T: +48 22 50 50 797 ewa.lachowska-brol 

Kinga Jezierska 


T: +48 22 50 50 741 This email address is being protected from spambots. You need JavaScript enabled to view it.  


Evan Lazar re-elected as Chairman of the Board of Dentons Europe

Evan Lazar re-elected as Chairman of the Board of Dentons Europe 

Evan Z. Lazar has been re-elected as Chairman of the Board of Dentons Europe for a second term of office from January 1, 2017 to December 31, 2019.

“I feel very privileged to be able to serve my partners as Chairman for another term,” said Lazar.  "Over the last three years, we have established a solid foundation - outstanding legal talent, a strong presence in Europe’s most important markets, and unparalleled global reach. We will build on this momentum to make Dentons one of Europe’s top law firms.”

Elliott Portnoy, Dentons Global CEO, commented, “During Evan’s first term, Dentons has seen exceptional growth in our offerings to clients throughout Europe. Not only have we enhanced our practice and sector capabilities across the continent, but we have also strengthened our presence in key markets in Italy, Germany, Luxembourg and CEE.”

In addition to his role as Chairman of the Board of Dentons Europe, Lazar is also a member of Dentons’ Global Board, serving as a Global Vice Chair of the Firm. He is also Co-Chairman of Dentons’ Global Real Estate Group, where he is widely recognized as one of the leading real estate investment and property finance lawyers in Europe. His extensive experience in cross-border property and finance transactions has placed him at the forefront of many of the region's most important real estate and finance deals. 

Dentons Global Chairman Joe Andrew said, “In addition to being a driving force on both the Europe and Global Board of Dentons, Evan is also passionate about serving our clients.  Under his leadership, Dentons’ Global Real Estate group has continued to grow its reputation as one of the world’s best.”  

“Evan was part of the original team that came together to create Dentons and he is 100 percent committed to its success,” said Tomasz Dabrowski. “He has been a key driver of our growth here in Europe and has also contributed to advancing Dentons’ strategy around the world.”

Before Dentons was founded, Lazar co-chaired legacy firm Salans’ Global Real Estate Group.  Prior to that, he founded the Central European Real Estate practice at Weil, Gotshal & Manges and was later Co-Chairman of their European Property and Finance group. Before moving to Europe in 1993, Evan was a real estate lawyer at Wolf, Block, Schorr & Solis-Cohen in Philadelphia.


For additional information please contact:

Amanda Lowe, PR and Communications Manager, Europe

+420 236 082 249

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Changes in the Employment Law

Changes in the Employment Law. On January 1, 2017 an amendment to the Act on minimum pay for work (the “Act”) will come into force. The changes will affect rules for hiring workers on contracts of mandate (Polish: umowa zlecenie) and service contracts (Polish: umowa o świadczenie usług), including the self employed (B2B).



More information

Dentons launches in Australia

Dentons launches in Australia

Solidifies position as the Pacific Rim’s leading law firm.

Dentons, the world’s largest law firm, today formalized its combination with offices of the nearly century-old Australian law firm Gadens, solidifying its position as the Pacific Rim's leading law firm.

Dentons now serves 84 markets in Pacific Rim countries, more than any other law firm. Clients in Australia and around the world now benefit from the local experience of 7,600 Dentons lawyers serving 57 countries on six continents.

“The launch of Dentons in Australia and Papua New Guinea is another step in our drive to connect clients around the world to lawyers who know the communities, the culture and the business and legal environment of the markets in which clients need a matter addressed or a dispute resolved,” said Joe Andrew, Dentons Global Chairman.

 “Our clients, particularly those in China, Singapore, Hong Kong and South Korea, responded enthusiastically to the announcement of our combination,” said Elliott Portnoy, Dentons Global CEO. “Adding market-leading experience in Australia’s banking and finance, real estate, infrastructure, energy and natural resources sectors to our global teams significantly enhances our offerings to clients in the Pacific Rim.”

Dentons Australia Region CEO Steve Healy, said: “Both international and domestic clients will benefit from being advised by the largest global elite law firm in the world. We have enjoyed an exceptional track record in Australia for almost 90 years and in Papua New Guinea for over 45 years and this combination will allow us to offer our clients connections to international markets with business expertise and legal experience across every practice and sector globally.”

In keeping with its polycentric nature, which emphasizes market-specific sensitivities in determining how to best serve clients, Dentons has adopted multiple operational models with the various members of the Gadens joint venture.

Dentons will have offices in Sydney and Perth in Australia and Port Moresby in Papua New Guinea. The firm will also be able to meet client needs in Brisbane and Adelaide.




About Dentons

Dentons is the world's largest law firm, delivering quality and value to clients around the globe. Dentons is a leader on the Acritas Global Elite Brand Index, a BTI Client Service 30 Award winner and recognized by prominent business and legal publications for its innovations in client service, including founding Nextlaw Labs and the Nextlaw Global Referral Network. Dentons' polycentric approach and world-class talent challenge the status quo to advance client interests in the communities in which we live and work.

Dentons Business Services EMEA opens in Warsaw

Dentons Business Services EMEA opens in Warsaw.

Dentons Business Services EMEA (DBSE) is a joint initiative between the UK, Middle East and Africa (UKMEA) and Europe regions of the Firm. It leverages both regions' combined scale and resources more effectively by co-locating in one center certain tasks that are currently performed across numerous offices, enabling the Firm to deliver better service and increased value to clients.

"The launch of DBSE marks the beginning of our global shared services strategy - a key integration initiative that aims to improve the quality of business services provided to lawyers across the Firm", said Dentons Global Chairman Joe Andrew. "Dentons now has a presence in 58 countries, and while our polycentric culture means that we respect the legal traditions and cultures in all of these markets, it is also important for us to focus on delivering a seamless one-firm experience to the increasing number of clients who instruct us across multiple offices and regions."

"Following our unprecedented growth trajectory over the past few years we now have more lawyers with greater experience in more locations than any other firm," said Dentons Global CEO Elliott Portnoy. "By already attracting business services professionals from leading law firms, professional services organisations and multinationals DBSE represents a major step forward toward achieving our goal of offering clients the highest quality of legal work better, faster and more economically than any of our competitors".

Tomasz Dabrowski, CEO of Dentons Europe added, “As Dentons continues to grow across Europe, DBSE will allow us to build up a high quality, fit-for-purpose business services function to support the increasingly sophisticated needs of our business and our clients.”

Led by Director Piotr Macieja, DBSE is based at the Atrium Centrum building, within walking distance of Dentons' Warsaw office. It currently employs more than 70 people working across the areas of finance, business development and marketing, human resources and IT, with plans to grow further over the next two years. 

“Even in an extremely competitive labor market, we have been fortunate in attracting top caliber talent to our team, and this is largely thanks to Dentons’ reputation as the undisputed leader in the Polish legal sector.” said Piotr Macieja, DBSE Director. 


About Dentons

Dentons is the world's largest law firm, delivering quality and value to clients around the globe. Dentons is a leader on the Acritas Global Elite Brand Index, a BTI Client Service 30 Award winner and recognized by prominent business and legal publications for its innovations in client service, including founding Nextlaw Labs and the Nextlaw Global Referral Network. Dentons' polycentric approach and world-class talent challenge the status quo to advance client interests in the communities in which we live and work.



Amanda Lowe

PR and Communications Manager, Europe

+420 236 082 249

This email address is being protected from spambots. You need JavaScript enabled to view it.


Dentons to be first global law firm with offices in Central America

Dentons to be first global law firm with offices in Central America

Proposed combination with Muñoz Global would unite world’s largest law firm and regional leader with offices in Costa Rica, Panama and Nicaragua

Dentons, the world’s largest law firm, today announced it would become the first global law firm with offices in Central America if a proposed combination with Costa Rica-based Muñoz Global is approved by partners of both firms later this year.

Muñoz Global is a newly established law firm, comprised of the former Costa Rican offices of the Arias & Muñoz law firm and new offices in Panama and Nicaragua. Muñoz Global founders José Antonio Muñoz and Pedro Muñoz also founded Muñoz & Muñoz, which combined with El Salvador’s FA Arias in 1998 to form Arias & Muñoz, the first Pan-Central American law firm. 

José Antonio Muñoz, Pedro Muñoz and Armando Arias, founder of FA Arias, today announced the Muñoz brothers’ separation from the Arias firm on amicable terms. The Panama and Nicaragua offices will be headed by Gisela Porras and Bernard Pallais, respectively. 

The proposed combination follows the launch of Dentons López Velarde in Mexico and Dentons Cárdenas & Cárdenas in Colombia earlier this year. It marks the next step in Dentons’ strategy to grow its presence in Latin America and the Caribbean.

“As the first global law firm with offices in Central America, we will be uniquely positioned to serve our clients who have growing needs in this region,” said Joe Andrew, Global Chairman of Dentons. “Our goal is to connect those clients to top-tier talent by combining with firms whose lawyers are highly regarded and deeply rooted in the local economy and legal culture. The lawyers of Muñoz Global offer all that and more.”

“Since our launch in Mexico and Colombia earlier this year, cross-border work into and out of the region has grown rapidly, demonstrating that clients see a great advantage to being served by a global firm that can offer the best locally informed legal counsel and business advice anywhere they operate,” said Elliott Portnoy, Global Chief Executive Officer of Dentons. “Given the interconnectedness of the economies of Costa Rica, Panama and Nicaragua, we see real opportunities to serve clients further through more intra-region work as well.”

“For more than 21 years our lawyers have focused on international standard legal and business solutions for the Central America market. With the announced intent to combine with Dentons, we will now help our clients around the world while continuing to provide our services and counsel in Central America and Panama,” said José Antonio Muñoz, Founding Partner of Muñoz Global.

“In 1995, Pedro Muñoz and I began our long-term project to make legal services in our region international when we started operations in Nicaragua,” said José Antonio Muñoz. “After an incredible 18-year run in Central America we now go global with help and great support from Dentons.”

The combination of Dentons and Muñoz Global would allow both firms to enhance their capabilities in key business sectors and practices including:

  • Banking  and finance: Muñoz Global and Dentons have significant banking and finance practices, with both firms jointly serving some of the world’s largest banks. In addition, each firm serves leading local and regional financial institutions in their respective regions.
  • Corporate: Reflecting the strong ties to local economic drivers in the communities they serve, both firms have built substantial corporate practices, providing counsel on mergers and acquisitions, joint ventures, private equity and foreign direct investment. Muñoz Global boasts one of Central America’s elite transactional practices, ranked Band 1 by the legal guide Chambers in Corporate/M&Aand focused on banking and finance, real estate, life sciences and manufacturing. 
  • Dispute resolution: The proposed combination would, for the first time, unite a global firm with a significant presence in the world’s leading arbitration centers, such as London and Singapore, with the Central American leader in dispute resolution. Chambers recently awarded Muñoz Global’s Dispute Resolution practice a Band 1 ranking. 
  • Life sciences: Dentons and Muñoz Global share numerous clients in the pharmaceutical, medical equipment and health services sectors. The combination would bring the advantages of one-firm service to these clients across all the locations served by the new firm.
  • Real estate: Clients of both firms will benefit from the synergies of combining one of Central America’s most widely recognized real estate practices and recipient of a Band 1 ranking from Chambers, with the experience and skill of the largest real estate practice group in the world at Dentons.
  • Tourism and hospitality: If approved, the combination will bring together Dentons’ world-class Hotels and Leisure practice with one of Central America’s leading tourism and hospitality groups to serve one of the region’s most important business sectors.
  • Transportation and logistics: Both firms offer public and private sector clients deep experience in all aspects of transportation, transportation finance and logistics. Muñoz Global’s longtime involvement in government-sponsored transportation and infrastructure projects will bring an added dimension to the work that Dentons performs on behalf of leading engineering, logistics and transportation clients around the world. Muñoz Global’s Projects practice is ranked Band 1 by Chambers


Both firms will seek approval for the proposed combination from their partners before the end of 2016.

For more information and details regarding the combination, visit




About Dentons

Dentons is the world's largest law firm, delivering quality and value to clients around the globe. Dentons is a leader on the Acritas Global Elite Brand Index, a BTI Client Service 30 Award winner and recognized by prominent business and legal publications for its innovations in client service, including founding Nextlaw Labs and the Nextlaw Global Referral Network. Dentons' polycentric approach and world-class talent challenge the status quo to advance client interests in the communities in which we live and work.


AboutMuñoz Global

With offices in Costa Rica, Panama and Nicaragua, Muñoz Global offers an outstanding multi-national legal team with global resources to ensure that our clients receive unmatched attention and expertise. Our 75+ person team is comprised of the brightest and best talent in the region, making Muñoz Global an undisputed leader in corporate legal services across multiple industries. We are uniquely 

positioned to leverage our global platform and deliver sophisticated and innovative legal services for the success of our clients. We proudly offer talented and skilled legal professionals from diverse backgrounds and cultures in Central America and the Caribbean, as well as through the Dentons presence in more than 50 countries around the world.

Dentons launches new edition of its Global Energy Game Changers series which focusses on Europe

Dentons launches new edition of its Global Energy Game Changers series which focusses on Europe

Dentons’ global Energy team has launched the newest edition of its Global Energy Game Changers series, a compendium of insightful analysis of the most important issues facing the energy industry globally.

The global energy sector is undergoing a dramatic transformation. New technologies and new regulations in nearly every subsector are straining yesterday's business models. Foundational elements throughout the industry, including energy transfer and storage, have seen massive disruption. At the same time, price fluctuations, volatile consumer demand and cyber and physical security concerns continue to add to an unpredictable future. Nevertheless, opportunity abounds.

Download the latest edition of Dentons’ Global Energy Game Changers series. It is focused on key developments in Europe: continent-wide regulatory reform; the regulation of new cross-border power flows; challenges facing the oil and gas industry; infrastructure sharing; disputes under investment treaties; and the prospect of the UK leaving the European Union. Dentons’ Energy lawyers take an in-depth look into the issues shaping the business environment in one of the world's most important energy regions. 

For further information, please contact:

Iryna Batmanova

Business Development and Marketing Manager, Energy, Europe

+48 22 24 25 106

This email address is being protected from spambots. You need JavaScript enabled to view it.  

About Dentons 

Dentons is the world's first polycentric global law firm. A top 20 firm on the Acritas 2015 Global Elite Brand Index, the Firm is committed to challenging the status quo in delivering consistent and uncompromising quality and value in new and inventive ways. Driven to provide clients a competitive edge, and connected to the communities where its clients want to do business, Dentons knows that understanding local cultures is crucial to successfully completing a deal, resolving a dispute or solving a business challenge. Now the world's largest law firm, Dentons' global team builds agile, tailored solutions to meet the local, national and global needs of private and public clients of any size in more than 125 locations serving 50-plus countries.

Aleksandra Minkowicz-Flanek Awarded the Nicolaus Copernicus Medal by the Polish Bank Association

Aleksandra Minkowicz-Flanek Awarded the Nicolaus Copernicus  Medal by the Polish Bank Association. 

The Polish Bank Association awarded the Nicolaus Copernicus Medal to Aleksandra Minkowicz-Flanek, Partner in charge of the Employment Law practice at Dentons’ Warsaw office, in recognition of her commitment and contribution to the banking self-regulatory organization. The medal acknowledges individuals for their outstanding contribution to the dynamic growth and security of the Polish banking system. The awards ceremony was held on 5 October 2016 at the Banker’s Club (Klub Bankowca) in Warsaw at the Annual Meeting of HR and Personnel Training Directors.

Aleksandra Minkowicz-Flanek is a recognized legal practitioner specializing in employment and corporate law. She has extensive experience in individual and collective employment law, employment restructuring, group layoffs, banking sector payroll systems and employment aspects of corporate transactions. She is valued by banking clients for her expertise in remuneration programs for bank management. She is also experienced in the interpretation and application of legal regulations incorporating the CRD3 and CRD4 Directives into the Polish legal system.

For many years Aleksandra Minkowicz-Flanek has been placed highly in international legal rankings. Legal directions, such as Chambers Europe, Legal 500 and Best Lawyers recommend her in the field of Employment and Labor Law. In 2015 she was awarded with the ILO Client Choice Award.

The Nicolaus Copernicus Medal is a huge distinction awarded by the Polish Bank Association to persons contributing to the development of the banking sector. We are proud that Aleksandra was honored in this way. This is a mark of appreciation for her expertise and commitment, as well as a confirmation of the excellent reputation she enjoys among our clients and business partners. I am glad that Dentons is able to provide our clients with the services of the most respected and talented lawyers out there,” said Arkadiusz Krasnodębski, Managing Partner of Dentons Poland.



About Dentons

Dentons is the world's largest law firm, delivering quality and value to clients around the globe. Dentons is a leader on the Acritas Global Elite Brand Index, a BTI Client Service 30 Award winner and recognized by prominent business and legal publications for its innovations in client service, including founding Nextlaw Labs and the Nextlaw Global Referral Network. Dentons' polycentric approach and world-class talent challenge the status quo to advance client interests in the communities in which we live and work.

White & Case advised Waterland Private Equity Investments

Global law firm White & Case LLP acted as legal adviser for Waterland Private Equity Investments B.V. (“Waterland PE”) in connection with the acquisition of 61.16% of the total number of shares in Kredyt Inkaso S.A. (“Kredyt Inkaso”) from its current shareholders.

In the course of the tender offer announced at the end of July, the company from the Waterland PE group acquired 7,911,380 shares in Kredyt Inkaso and became the biggest investor in this debt collection company. Subscriptions were accepted in the period from 16 to 29 August. In accordance with the announced conditions, the offeror undertook to acquire shares if over 60% of the Kredyt Inkaso shares were subscribed for and when the offeror obtained permits from the appropriate antimonopoly authorities. The conditions of the offer were met before its closing date, which were possible thanks to the pre-notification procedure used by White & Case. This was the first investment of Waterland PE in Poland and the largest investment in this part of Europe.

White & Case was responsible for, among others, conducting a due diligence analysis of Kredyt Inkaso and several of its subsidiaries, including in Romania, Bulgaria, Russia and Luxembourg, preparing the text of the offer and obtaining permissions from antimonopoly authorities in Poland and Russia.

The White & Case team was led by partners Marcin Studniarek, Andrzej Sutkowski and Aneta Hajska. The team was also composed of Jakub Gubański, Grzegorz Jukiel (counsel) and Jacek Polewski, Monika Dużyńska, Klaudia Malczewska, Iwo Małobęcki, Małgorzata Mroczek and Michał Plich (associates) from the Warsaw office and lawyers from the White & Case office in Moscow.



White & Case

White & Case LLP is a leading global law firm with lawyers in 38 offices in 25 countries. Among the first US-based law firms to establish a truly global presence, we provide counsel and representation in virtually every area of law that affects cross-border business. Our clients value both the breadth of our global network and the depth of our US, English and local law capabilities in each of our regions and rely on us for their complex cross-border transactions, as well as their representation in arbitration and litigation proceedings.


Mariusz Mroczek

Senior Business Development Manager

White & Case 

M. Studniarek i Wspólnicy Kancelaria Prawna sp.k.

Tel.: + 48 22 50 50 225

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Travelport appoints Katarzyna Fabianska as Country Manager in Poland Warsaw

Travelport appoints Katarzyna Fabianska as Country Manager in Poland Warsaw


Travelport, a leading Travel Commerce Platform has today announced the appointment of Katarzyna Fabianska as the new Country Manager of Travelport in Poland. Katarzyna brings with her a wealth of experience and has already been serving as Travelport’s Eastern European Senior Business Development Manager. 

In her new position, Katarzyna will be responsible for driving adoption of Travelport’s award-winning point-of-sale solution for travel agencies, Travelport Smartpoint, as well as Travelport’s innovative Universal API, that allows online travel agencies to connect to Travelport’s platform and design their own customised user interfaces. Katarzyna will also be promoting other key bespoke product offerings for Travelport’s Eastern European customers. 

Katarzyna’s predecessor, Aleksandra Tomaszewska now takes responsibility of the commercial relationship with Travelport’s significant NDC partner CEE Travel Systems, which is responsible for distributing Travelport’s unrivalled travel content in thirteen Eastern European countries.  

Commenting on her new role, Katarzyna said: “I’m excited to have been given this great professional opportunity. Having worked with the Eastern European team and our customers I am well aware of the challenges faced and the opportunities available to travel businesses in Poland. I’m looking forward to helping our customers take advantage of these opportunities and using Travelport’s innovative technology to help grow their businesses.”

Gavin Teale, Travelport’s Managing Director Eastern Europe commented: “I’m delighted that Katarzyna Fabianska will take on the role of Country Manager in Poland – an important country and hub for our business in Eastern Europe. I’m confident that our customers will benefit from Katarzyna’s experience and energy. I also want to wish Aleksandra Tomaszewska well in her new and important role and thank her for the great work she has done for our Polish business. Aleksandra and Katarzyna will continue to work closely together to ensure a smooth transition for our customers.”

Travelport is a Travel Commerce Platform providing distribution, technology, payment, mobile and other solutions for the global travel and tourism industry.  With a presence in over 180 countries, approximately 3,700 employees and an additional 1,200 employees at IGT Solutions Private Ltd who provide us with application development services, our 2015 net revenue was over $2.2 billion. Travelport is comprised of:

  • A Travel Commerce Platform through which it facilitates travel commerce by connecting the world’s leading travel providers with online and offline travel buyers in a proprietary business-to-business (B2B) travel marketplace.  In addition, Travelport has leveraged its domain expertise in the travel industry to design a pioneering B2B payment solution that addresses the needs of travel intermediaries to efficiently and securely settle travel transactions.


  • Technology Services through which it provides critical IT services to airlines, such as shopping, ticketing, departure control and other solutions, enabling them to focus on their core business competencies and reduce costs.



Travelport is headquartered in Langley, U.K.  The Company is listed on the New York Stock Exchange and trades under the symbol “TVPT”.


For Travelport media enquiries, please contact:


Mark Hamilton, Senior Manager, Corporate Communications

Tel: +44 (0)1753 288342

Mob: +44 (0)7552 212132

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.  


Kate Aldridge, VP Corporate Communications

Tel: +44 (0)1753 288720

Mob: +44 (0)7921 698757

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White & Case provided legal advice to Jastrzębska Spółka Węglowa S.A.

The global law firm White & Case provided legal advice to Jastrzębska Spółka Węglowa S.A. (“JSW”) in connection with the sale of all the shares which JSW holds in Wałbrzyskie Zakłady Koksownicze Victoria S.A. (“WZK Victoria”) to Agencja Rozwoju Przemysłu S.A. and Towarzystwo Finansowe “Silesia” Sp. z o.o. (“TFS”) (ARP and TFS jointly referred to as the “Investors”).

The final agreement concluded on 30 September 2016 concerns JSW selling the Investors 92.8413% of the shares in WZK Victoria. The total sale price for the WZK Victoria shares was PLN 350,000,000 with a possible price adjustment based on the cumulated EBITDA value of WZK Victoria in the years 2016-2019. The whole amount for the sale of the WZK Victoria shares has already been paid.

In the project, White & Case was responsible for the overall coordination of the sale process, which also included negotiating the final version of the documentation, hammering out agreements with the Ministry of the State Treasury related to the Investors taking over so-called investment commitments and negotiating with trade unions and employer organizations the takeover of a package of social benefits. The negotiations took almost 6 months of intensive work.

The White & Case team was comprised of Marcin Studniarek (partner), Rafał Kamiński (local partner), Jakub Gubański (counsel) and Małgorzata Mroczek, Anna Pawelec, Monika Dużyńska and Michał Jadwisiak (associates).

Global law firm White & Case LLP advises Jastrzębska Spółka Węglowa S.A

Global law firm White & Case LLP has advised Jastrzębska Spółka Węglowa S.A. (JSW) on the acquisition of an organized part of the enterprise of Kompania Węglowa S.A., including the Knurów-Szczygłowice coal mine, for PLN 1.49 billion.

JSW is the largest producer of high quality type 35 (hard) cooking coal and a significant coke producer in the European Union. White & Case provided comprehensive support for the acquisition, including advice on financing through private placements of secured bonds under the issue programme in two tranches of, respectively, PLN 700 million and US$163.76 million.

Warsaw-based White & Case partner Marcin Studniarek, who led the team which advised JSW, said: “The coal and coke market is cyclical in nature and global fluctuations in price have a significant impact on the profitability of mining plants. Any action aimed at reducing mining production costs and expanding the resource base are important factors in determining the competitive edge of mining companies. The White & Case team which advised JSW successfully navigated a complex transaction, underlining the Firm’s capability in providing legal advice to mining companies. We were very pleased to support JSW in the pursuit of its strategic goals.”

During 2013, the output of JSW’s five existing mines was 9.8 million tonnes of coking coal (including 7.8 million tonnes of hard coking coal) and 3.8 million tonnes of steam coal. Prior to the acquisition of the Knurów-Szczygłowice mine, the anticipated coal resource of the JSW mines was around 2.2 billion tonnes, including approximately 600 million tonnes of recoverable resources.

The Knurów-Szczygłowice mine has an annual coal production capacity of 3.8 million tonnes, including 40 percent coking coal. Its anticipated coal resources are 1.26 billion tonnes with recoverable reserves of 375.1 million tonnes, including 119.7 million tonnes under current valid licenses.

The White & Case team in Warsaw was led by partner Marcin Studniarek with support from local partners Aneta Hajska and Tomasz Ostrowski, counsel Jakub Gubański and Grzegorz Jukiel and associates Aneta Urban, Rafał Kamiński and Magdalena Zmysłowska.

White & Case

White & Case LLP is a leading global law firm with lawyers in 39 offices across 26 countries. Among the first US-based law firms to establish a truly global presence, we provide counsel and representation in virtually every area of law that affects cross-border business. Our clients value both the breadth of our global network and the depth of our US, English and local law capabilities in each of our regions and rely on us for their complex cross-border transactions, as well as their representation in arbitration and litigation proceedings.


Mariusz Mroczek
Senior Business Development Manager
White & Case P. Pietkiewicz, M. Studniarek
i Wspólnicy Kancelaria Prawna sp.k.
+ 48 22 50 50 225
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Global law firm White & Case LLP has advised Echo Investment S.A

Global law firm White & Case LLP has advised Echo Investment S.A., the Poland-based real estate investment company, on two significant loan transactions. 

The Firm advised on a financing of up to €132 million from Berlin Hyp AG and ING Bank Śląski S.A. to refinance the current debt from Echo’s four office projects – Malta Office Park in Poznań, Park Rozwoju in Warsaw, West Gate in Wrocław and A4 Business Park in Katowice. 

White & Case also advised on a financing of up to €185 million from Landesbank Hessen-Thüringen Girozentrale to refinance the current debt of seven shopping centres belonging to Echo – Galeria Sudecka in Jelenia Góra, Galeria Venada in Łomża, Galeria Amber in Kalisz, Galeria Olimpia in Bełchatów, Outlet Park in Szczecin, Centrum Handlowe Echo in Przemyśl and Centrum Handlowe Echo in Bełchatów.

Echo Investment is one of the largest investment and development companies in Poland and has been listed on the Warsaw Stock Exchange since 1996. It invests in four main real estate sectors: housing construction, shopping centers, office construction and hotel construction. 


The White & Case team in Warsaw which advised on the transaction was led by partner Tomasz Ostrowski with support from associates Sylwia Opiatowska, Michał Jadwisiak, Ilona Fedurek and Mateusz Zawistowski.


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On 9 June 2016 at the Fort Sokolnickiego Arts Centre in Warsaw, the grand gala was held to celebrate the 25th anniversary of the presence of Avis in Poland. Avis is one of the world's most famous and biggest car rental brands

At the anniversary gala, Avis had the honour to host its most important trading partners, suppliers, business travel agencies, hotels, representatives of the industry media, and business organizations.

During the gala dinner, Radosław Lesiak (Avis Country Manager in Poland) summed up the past 25 years of the rent-a-car industry in Poland and presented probable directions of development of this sector of services.

The special guest of the event was Mr Piotr Kuczyński, journalist specialising in economy and financial market analyst.

The event was both an excellent opportunity to sum up the company's achievements and outline directions of its future development, and also to establish many new business contacts in a relaxed atmosphere.

The event was hosted by well-known journalist and television presenter, Marcin Prokop; an unconventional performance by the Obsession Quartet was the artistic highlight of the evening.

The accompanying exhibition prepared by partners of Avis was unique, too – it showcased the latest models of Volvo, BMW, AUDI, FORD, TOYOTA, and NISSAN - currently available (or coming soon) at Avis. The event guests were surprised by an exceptional historical model: Ford Sierra, which was the first car to be available at Avis in 1991. 

A quarter of a century is a unique anniversary and an opportunity for recollections, summaries, and above all, acknowledgements. With this Avis gala we take a bow in acknowledgement of our customers, employees and partners, who, for many years, with their work, commitment and trust, have contributed to the success and position of Avis in the domestic market, emphasised Radoslaw Lesiak, Country Manager.

It was 25 years ago that the first Avis car rental offices were opened in Warsaw – at the Okęcie Airport and at the Mariott Hotel. Since then, the company has been increasing its presence in Poland. Today, its fleet is more than 2,000 cars, and Avis has 70 rental offices located in the centre of the biggest cities and at airports, with more than 250 employees.

Our strategy is ever expanding and our offer is tailored to the needs of individual clients, and this approach has proved to be effective over the past 25 years. For many years, Avis Poland, guided by the motto ‘We try harder’, makes every effort to guarantee that its services bring full satisfaction to all clients. Today, this rule is applicable to each and every one of our activities, ensuring we stand out in comparison to our competitors. Our awards are a testament that we keep on ‘trying harder’, for example the Business Traveller Award for the best car rental company in Poland and in the world, says Radosław Lesiak, Country Manager, Avis Poland.



About Avis 

Avis Car Rental operates one of the world's best-known car rental brands with approximately 5,500 locations in more than 165 countries. Avis has a long history of innovation in the car rental industry and is one of the world's top brands for customer loyalty. Avis is owned by Avis Budget Group, Inc. (NASDAQ:CAR), which operates and licenses the brand throughout the world. For more information, visit

For more information, contact:

Katarzyna Dobrzyńska   

Avis Poland  

+48 603 192 595 

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A new EU law on personal data has been in force for a week. The perspective from the Polish market.

A new EU law on personal data has been in force for a week. The perspective from the Polish market.   

Almost 80% of business entities surveyed by CMS declare that they are aware of the changes to personal data protection, which entered into force on 25 May of this year. However, almost 30% of respondents do not know how much time is scheduled for the adaptation to the new EU regulations – according to a report entitled “Changes in the EU Personal Data Protection Law – New Challenges and Opportunities for Companies”, prepared by CMS.

CMS’s TMT team examined more than 100 companies on the Polish market in relation to the new data protection rules introduced by the European Union for all companies operating in member states, as well as for companies that provide goods or services to EU citizens even though they operate outside Europe.

The new law will be enforced by the regulator starting from 25 May 2018. In the case of non-compliance after this date, companies must be aware of the risk of financial penalties of up to EUR 20 million or 4% of the global annual turnover of the previous financial year.

Tomasz Koryzma, partner at CMS says: “Business entities should start preparing for the implementation of the new law now, as adaptation to EU regulations requires both adequate financial and human resources. Given the scale of the changes, it may be necessary to create multi-disciplinary teams of legal and technological experts, who will analyse the impact of the new regulations on the company’s activities. Firstly, we need to look at the business processes, existing documentation and software that is used to process data and then we need to evaluate their compliance with the new regulations.

The legislator has given businesses across Europe two years to prepare for the new regulations. This is needed due to the scale of the changes including, inter alia: the need to verify IT systems used by business entities or to inform customers about the new rules related to processing their data, as well as to introduce a new process in the company – an assessment of the impact of data processing on privacy.

“One of the major changes from the perspective of business entities is the need to provide customers with exhaustive information, in a clear and accessible way, about how their data is being processed, e.g. whether and to which countries the data is transferred and for how long it remains in the database. In practice, this means that information saying that the data is processed, e.g. for marketing or recruitment purposes is no longer sufficient," says Marcin Lewoszewski, legal adviser at CMS’s TMT department.  “Additionally, businesses are now obliged to very carefully select the entities whom they entrust with the processing of data, e.g. in connection with the HR/payroll services or data analysis," says Marcin Lewoszewski. 

It may be implied from CMS’s survey that only approx. 15% of the surveyed business entities have already taken any action in their organisations to prepare for the new challenges, while the vast majority of respondents (approx. 75%) limit themselves to monitoring legal changes in the scope of personal data management. 

Businesses have apparently decided to wait and see what happens, which may indicate their need to obtain further information about the practical consequences of the changes and on what actions to take in relation to the new approach to personal data protection," Tomasz Koryzma, partner at CMS law firm, says. "However, if we look at the Polish market it may turn out that in comparison with the richer countries of Western Europe, the distance Polish companies have to cover in order to meet the new requirements, e.g. in relation to adapting IT systems, is greater due to the long-term lower level of investment in business, including in data security," he adds.

Companies themselves express the need for more information about the practical consequences of the changes – more than 85% of respondents would like to see more information about the consequences and specific actions needed in connection with the change in the regulations.

The vast majority of companies surveyed by CMS consider the regulations as significant enough to engage the company's management in the process of introducing changes to their organisations. The respondents think that the management’s participation is needed in the process of identifying key risks, due to the need to consider a new approach to personal data in the company’s organisational culture, and also because it is an important element of risk management in the company. In addition, nearly half of respondents believe the changes to be so extensive that they intend to use the support of external companies

According to the respondents, sales, marketing and IT departments must make the greatest effort to prepare for the changes. Only approx. 40% see the need for HR departments or HR processes to adapt, and even less as regards finance (below 20%).

“Businesses accurately identify areas that will require the most attention and adaptation to the new law. Particularly in those industries where personal data is a key value – e.g. in the financial sector – the biggest changes will be related to the area of marketing and sales and IT,” says CMS’s Marcin Lewoszewski. 

As shown in the survey by CMS, the surveyed business entities associate the new legislation mainly with an increase in the costs of running a business – almost 80% of respondents share this fear. When asked about the benefits of increased protection of personal data, respondents indicate an increase in customer trust (about 40%) and a reduction of legal risk (nearly 30%). Among other benefits of tightening the approach to the protection of personal data, they also point out the following aspects: increase of competitive advantage, and making data protection real.

When asked about the reasons to adapt to the new regulations, respondents indicated the risk of financial sanctions and regulatory risk (almost 90%), which is quite obvious given the circumstances. Further down were reputational risk (approx. 75%) and customer expectations (approx. 50% of responses). Only approx. 30% of respondents have a proactive approach to the changes, referring to the benefits of the commercial use of personal data.

When asked about specific plans in the scope of providing information about changes in the approach to personal data within their own organisations, the surveyed business entities primarily consider transferring such information via the Intranet (over 50%) or retraining employees (45%). At the same time almost ¼ have no plans or knowledge of any planned activities.


Examples of changes concerning personal data applicable after 25 May 2016:

  • The new regulations require business entities to notify the Inspector General for the Protection of Personal Data (GIODO) about all instances of data breaches and at times also to notify the data subjects involved (e.g. customers). All irregularities in this respect will have to be reported to the supervisory authority (GIODO) without undue delay, if possible, no later than 72 hours after the discovery of the breach. The above concerns not only instances where data is e.g. unlawfully published on the Internet but also situations where a USB stick with data is lost or data is deleted.
  • The new law allows for profiling based on automatic data processing only when the individual concerned consents to it, unless such profiling is necessary to enter into or perform an agreement. The regulation requires that consumers be informed of being subject to profiling.
  • Everyone whose data is processed by a company, e.g. employees or customers, must now be provided with significantly more information on what happens to their data. Business entities will have to ensure that such information is transparent, reliable and clear.
  • Data controllers will be able to conclude agreements for outsourcing data processing only with entities that guarantee the proper implementation of the regulation, among other things, apply security measures adequate to the processing risk and regularly monitor the effectiveness of technical and organisational resources that are to ensure security.
  • The new regulation changes the role of the information security administrator. Under the regulation this role will be replaced by the data protection supervisor. One supervisor will be able to operate in more than one company only on the condition that it is easy for each such company to contact the supervisor. This should improve the functioning of capital groups that coordinate activities aimed at data protection.
  • The catalogue of the supervisor’s tasks has been unified in the entire European Union. The supervisor’s duties will comprise, among other things, monitoring compliance with the regulation by undertaking activities and training the employees of a given company as well as cooperation with the Inspector General for the Protection of Personal Data (GIODO).
  • Under the regulation, the appointment of a data protection supervisor in the private sector will be obligatory in two cases: if data processing due to its character, nature, purpose or scope requires regular and systematic monitoring of individuals on a large scale as well as when data of a specific category (sensitive data) or personal data concerning convictions is processed on a large scale. In the remaining cases the appointment of a data protection supervisor will be voluntary.


Additional information on the survey:

The survey was carried out in April and May 2016 among representatives of over 100 companies operating in Poland. Nearly half the respondents (48%) work in companies with over 500 employees and 68% are employed in international corporations. The following sectors had the strongest representation: insurance (19%), banking (14%) and technology (11%). Many of the respondents work in the FMCG, telecommunications, automotive and e-commerce sector. Respondents were mainly management board members and department directors and managers. The majority of them work in legal (29%) and IT (11%) departments, followed by the compliance, security, sales and marketing departments. 

More information on the changes in the law and their consequences for the Polish market can be found in the report entitled “Changes in the EU Personal Data Protection Law – New Challenges and Opportunities for Companies” available at


Information about CMS:

CMS is an international law firm that provides comprehensive legal and tax advice for companies, financial institutions and administrative bodies. We are one of the largest and most experienced international law firms in Poland – we have operated on the Polish market for over 20 years. The CMS offices in Warsaw and Poznań comprises  more than 150 lawyers, who advise clients operating in all key sectors of the economy. For more information see:


CMS is focusing on the development of key practice areas by nominating new partners and counsels:

CMS is focusing on the development of key practice areas by nominating new partners and counsels:

  • Michał Pawłowski, partner in charge of Warsaw’s capital markets team – to the position of equity partner;
  • Piotr Ciołkowski – to the position of partner in the energy practice;
  • Katarzyna Kucharczyk – to the position of counsel in the dispute resolution department;
  • Adam Stopyra – to the position of counsel in the banking and international finance department;
  • Ewa Świderska – to the position of counsel in the insurance team. 

“This year’s nominations are a reflection of the growth of our practice and our plans for further development, as well as the result of our increasing specialisation and adjusting to our clients’ needs,” says Małgorzata Surdek, managing partner of CMS Poland. All appointments take effect from 1 May 2016.

Michał Pawłowski specialises in capital market transactions, commercial law and securities law. He represents clients in transactions involving public offerings of shares (primary and secondary) bond issues, withdrawing companies from trading (P2P) as well as mergers and acquisitions.
Along with his team, he joined CMS in the summer of 2015. In his new role Michał will focus on the further development of the capital markets practice in Central-Eastern Europe. The capital markets team made its debut in this year’s Legal500, ranking immediately in group 2. Michał Pawłowski is recommended by Chambers & Partners as a capital markets lawyer.

He is an attorney, a doctor of law and an economist. He graduated from the faculty of law at Poznan’s Adam Mickiewicz University and earned a degree in economics at the University of Economics in Poznan. He teaches at the Kozminski University in Warsaw.

Piotr Ciołkowski will continue to develop the regulatory team he runs within the energy department. An alumnus of CMS’s graduate programme, Piotr has over 11 years’ experience advising energy clients. In addition to assisting clients with the start-up, safe running and restructuring of their operations, he is responsible for negotiating contracts for sales of goods such as oil, electricity and gas, and property rights. He participates in acquisitions transactions both in the conventional energy and renewable energy sectors. He has also conducted litigation in particular with the President of the Energy Regulatory Office.

CMS’s regulatory team, led by Piotr Ciołkowski, won first place in this year’s Polityka Insight ranking of regulatory law firms. For many years CMS’s energy practice in Poland has found itself in the highest categories (Band 1 and Tier 1) of the Chambers & Partners and Legal500 rankings, and has been recommended by Rzeczpospolita daily. Piotr Ciołkowski was also individually recommended in the last edition of the Legal500. He is a legal advisor, a graduate of the Adam Mickiewicz University in Poznan.

Katarzyna Kucharczyk, legal adviser, has over 10 years’ experience in representing financial institutions and clients from the construction, IT and telecommunications sectors in court disputes and in national and international arbitration. She has also actedbefore patent office and administrative courts on intellectual property matters. In her new role, Katarzyna will focus on the development of a practice devoted to construction disputes and disputes in the field of competition and consumer protection in the financial sector.

Katarzyna specialises in disputes concerning construction projects, infrastructure and real estate. She has acted for, among others, the perpetual usufructee in a precedent-setting case concerning the perpetual usufruct of land located in central Warsaw, and was a representative in matters concerning the construction of motorways. She also represents clients on competition law and consumer protection issues, including clients from the financial sector. She is a recommended dispute resolution lawyer in the international ranking Chambers Europe.

Dr Adam Stopyra, advocate, has been associated with the banking sector for more than 10 years. He specialises in regulatory issues. As counsel he will lead the derivatives, securitisation and regulations practice. He combines legal expertise with experience gained in the Department of Capital Adequacy at Raiffeisen Bank, where he was responsible for portfolio sales and securitisation. He has experience in the implementation of EU regulations such as EMIR, CRD IV, MiFID, UCITS. He has a doctorate in legal sciences from the University of Warsaw.

Ewa Świderska, legal advisor, specialises in providing legal advice to companies in the financial services sector, especially the insurance sector. She has been with CMS since 2006. As counsel and leader of the insurance team she will be responsible for the further development of this practice. She combines legal expertise with an excellent understanding of the insurance market. She gained professional experience as an in-house lawyer at various international insurance companies. She has advised on proceedings before the supervisory authority, as well as on the creation and marketing of insurance products, and on bancassurance issues. She has also dealt with data protection and consumer protection issues. Her professional experience includes transactions on the financial services market, including mergers and restructuring of international financial institutions. She graduated in law from the University of Warsaw.


Małgorzata Surdek appointed the new managing partner in CMS in Poland

Małgorzata Surdek appointed the new managing partner in CMS in Poland

In May 2016, Małgorzata Surdek took over the position of Managing Partner of CMS in Poland. She replaced Andrew Kozlowski, who has managed CMS’s Warsaw office since 2003.

Małgorzata Surdek has been with CMS for 20 years. She has over 12 years’ experience of managing CMS teams in Poland and Central-Eastern Europe. For more than 5 years she has managed the firm’s dispute resolution practice in Poland, and recently also in the CEE region. She has also led the Financial Institutions and Services Group. Małgorzata represents clients in civil and commercial law disputes before common courts, in particular in disputes concerning competition and consumer protection, intellectual property, claims under insurance agreements, construction disputes and commercial arbitration (she also acts as an arbitrator and is a Fellow of the Chartered Institute of Arbitrators).

“In the last two decades, CMS has grown to become the second largest law firm in Poland in terms of income and number of lawyers. It has a very strong position in areas such as transactional assistance, dispute resolution and arbitration, as well as in advisory services for the energy, finance and real estate sectors, among others. I feel comfortable handing the management over to Małgorzata Surdek after 13 years, as I am certain that her experience, managerial skills, energy and excellent client contacts will provide strong foundations for the further dynamic development of CMS, as well as make it possible for the company to take full advantage of market opportunities,” says Andrew Kozlowski, former Managing Partner of CMS in Poland. 


Andrew Kozlowski will continue to share his experience with CMS’s partners and clients as a Counsel.


Global law firm White & Case LLP has advised Synthos S.A.

Global law firm White & Case LLP has advised Synthos S.A., one of the largest manufacturers of chemical raw materials in Poland and Europe’s leading manufacturer of emulsion rubbers, on the acquisition from INEOS Enterprises of the INEOS Styrenics business, a leading producer of high quality expandable polystyrene for the building, construction and packaging industries.

The transaction, valued at €80 million, is expected to be finalized during the second half of 2016, following relevant approvals from the competition authorities. It includes the indirect acquisition of shares in the INEOS Styrenics subsidiaries in France, the Netherlands and Turkey, as well as the assets of Switzerland-based INEOS Styrenics International SA.

The White & Case team which advised on the transaction was led by local partner Andrzej Sutkowski (Warsaw) and partner David Crook (London), and included partners Peita Menon (London) and Nathalie Negre Eveillard (Paris), local partner Rafał Kamiński (Warsaw), counsel Jakub Gubański (Warsaw) and Tallat Hussain (London) and associates Jacek Polewski, Monika Dużyńska, Iwo Małobęcki (all Warsaw), Laura Hoyland, Hyder Jumabhoy, Stephen Carlton (all London), Valerie Menard, Anne Petitjean, Delphin Boucher, Caroline Lyannaz, Louis Feuillee (all Paris), Ceylan Kara and Eylul Topanoglu (both Istanbul).

CMS moves up in the Legal 500 ranking

CMS has strengthened its position among the best law firms in Poland improving in three categories in the Legal 500 – one of the most prestigious rankings of Polish and international law firms. 

CMS has been the leader (Tier 1) in the Legal 500 in Poland for years, in categories such as: Energy, Insurance and Employment. This year, CMS’ real property practice moved up to Tier 1. This confirms the real estate & construction team’s dynamic development and its strong position on the market of transactions and investment projects in the real estate and construction sectors. The Department, headed by Wojciech Koczara, is made up of more than 30 lawyers. The team’s headline projects include advising Pramerica Real Estate on the sale of a portfolio of logistics projects in Poland, Slovenia and Czech Republic and advising the general contractor on the construction of the new Łódź Fabryczna train station and rail line. 

All the remaining practices of CMS mentioned in the Legal 500 are classified only one level lower – in Tier 2. 

The M&A team – which moved up to Tier 2 – was involved last year in such prominent projects as the purchase of PKP Energetyka by CVC or Value4Capital’s sale of The position of CMS in the category Commercial, Corporate and M&A is reflected by the number of transactions completed each year, the profile of M&A projects in respect of which the law firm provides advisory services and the recognisability and reputation of the team of 30 people co-managed by Partners Dariusz Greszta and Marek Sawicki. The CMS team is also considered as one of the leading teams providing M&A advisory services in the CEE region (Band 1) by Chambers in the Central Eastern Europe category. 

CMS’ Banking Department also moved up to Tier 2. The Department has 16 lawyers led by Małgorzata Chruściak. It specialises in providing advisory services in connection with transactions carried out on the banking services market, project financing, as well as representing banks in any credit transactions, debenture issues and entering into derivative transactions, as well as transactions related to debt restructuring.  The recent examples of team’s projects includes advising EBRD on the financing of the construction of part of a wind farm in Orla or advising PZU on financing of a major real estate acquisition. 

Debuting this year in the ranking, the CMS capital markets team was ranked as Tier 2. The team of Michał Pawłowski, who joined CMS in Autumn 2015, effectively strengthened the practice existing in CMS within the area of IPOs, bond issues and withdrawing companies from public trading.

The Legal 500 ranking is based on the opinions of over 250,000 clients of law firms all over the world, information provided by law firms, as well as interviews carried out by the Legal 500 analysts. This ensures that the best law firms are selected, which then are classified within tiers 1-3.


Dentons launches new guide ‘Investing in renewable energy projects in Europe’

Dentons launches new guide ‘Investing in renewable energy projects in Europe’

Europe has seen a surge in renewables over the last decade, and the sector continues to grow. The priorities for the renewable energy expansion driven by the EU energy policy framework are setting corresponding national targets for the EU member states and are impacting neighboring countries in Europe and Central Asia.

Although the regulatory and commercial structures of national markets often differ substantially, governments and regulators have to grapple with many of the same issues. National policies and legislation continue evolving. For RES developers and investors, commercial success hinges on understanding current and anticipating future trends, spotting opportunities as they arise, minimizing risk and putting in place an agile business model that is capable of surviving shocks and uncertainties.

Download our guide “Investing in renewable energy projects in Europe.”It gives snapshots of the prospects for renewable energy projects in 16 jurisdictions in Europe and Central Asia with active renewable energy industries or significant RES potential. In each case, we look at the general background and the intrinsic potential for RES development, the factors driving the industry, and the constraints and risks investors face.

Dentons produced this guide in cooperation with Bloomberg New Energy Finance.


About Dentons

Dentons is the world's first polycentric global law firm. A top 20 firm on the Acritas 2015 Global Elite Brand Index, the Firm is committed to challenging the status quo in delivering consistent and uncompromising quality and value in new and inventive ways. Driven to provide clients a competitive edge, and connected to the communities where its clients want to do business, Dentons knows that understanding local cultures is crucial to successfully completing a deal, resolving a dispute or solving a business challenge. Now the world's largest law firm, Dentons' global team builds agile, tailored solutions to meet the local, national and global needs of private and public clients of any size in more than 125 locations serving 50-plus countries.  


CMS advises on the creation of mandatory fuel reserves

CMS has acted as legal advisor in the process of obtaining financing and securing against legal risks associated with the purchase and storage of diesel fuel for UNIMOT SA in light of the Polish Act on mandatory reserves of fuel.  Funding for the purchase of the mandatory reserves has been provided by ING Bank Śląski SA and the storage  for mandatory reserves will be covered by the largest national operator specialising in the storage and handling of fuels – Operator Logistyczny Paliw Płynnych (OLPP).

“The transaction was very complex and required negotiations with several financial institutions. The new agreements will minimise the costs associated with fulfilling the requirements of the law on mandatory reserves, which directly translates into tangible cost savings for the company,” says Robert Brzozowski, President of UNIMOT SA.

The CMS team working for the fuel importer was composed of lawyers who specialise in funding and regulatory advice for the fuel sector.

“The success of this type of transaction is determined on the one hand by an understanding of the needs of companies that operate in the fuel sector, and on the other by a thorough knowledge of the Act on mandatory reserves. Only a combination of these two factors allows the proper protection of a business activity in terms of the law. Also it is important to be aware of the expectations of financing institutions, for which the proper conclusion of a warehouse agreement with a licensed operator is a very significant element of the transaction.” says Tomasz Zwoliński, Of Counsel and Legal Advisor in the Department of Banking and International Finance from CMS.

CMS’s work included negotiating financing documents with the banks financing UNIMOT SA as well as negotiations with OLPP in connection with the necessity to conclude a separate contract for the storage of mandatory reserves. The following lawyers were involved in the project: Tomasz Zwoliński, Of Counsel and Legal Advisor in the Department of Banking and International Finance, Adam Stopyra, Senior Associate in the Department of Banking and International Finance, Piotr Ciołkowski, Of Counsel and head of the regulatory team in the Department of Energy and Projects, as well as other CMS lawyers who advised on both Polish and English law.

Squire Patton Boggs and Carroll, Burdick & McDonough to Combine.

Squire Patton Boggs and Carroll, Burdick & McDonough to Combine.

(SAN FRANCISCO – February 22, 2016) – Squire Patton Boggs and California-based Carroll, Burdick

& McDonough today announce that they have reached a definitive agreement to combine firms.

The combination will create the world's premier product quality, brand protection and compliance practice, joining together Squire Patton Boggs’ leading global platform of over 1,500 lawyers spanning 45 offices in 21 countries in the Americas, Asia Pacific, Europe and the Middle East, with Carroll Burdick, a complex litigation and products risk management powerhouse with over 50 lawyers on three continents.

Carroll Burdick will operate as an integrated part of Squire Patton Boggs, offering clients a robust level of service in a range of corporate, compliance and dispute-related disciplines, as well as deep roots representing the transportation industry. Founded in San Francisco in 1948, where its main office remains, Carroll Burdick also has offices in Böblingen (near Stuttgart), giving the combined firm a significant presence in the center of Germany’s industrial powerhouse of Baden-Württemberg. This office will complement Squire Patton Boggs’ offices in Berlin and Frankfurt, and further solidify its long- term commitment to serving premier German clients with worldwide business. Carroll Burdick also has offices in Hong Kong and Los Angeles, which complement those of Squire Patton Boggs and strengthen the combined firm’s presence in California and the Pacific Rim.

“From the outset of our discussions with Carroll Burdick, it was clear that our firms shared common values, a complementary mix of practices and clients who would mutually benefit from what the other firm brought to the table,” said Squire Patton Boggs’ Global Chairman Mark Ruehlmann. “The needs of our clients have always been the central focus of our firm’s strategic vision. In an increasingly regulated and inter-dependent global economy, our clients rely upon us now more than ever for compliance solutions across virtually all industries. With this combination, and the new relationships that come with it, we have even greater opportunities to better serve our clients with strong and developing global businesses.”

“As we looked to grow and expand the range of services we could offer clients, particularly our premier practice in global product risk coordination, joining a firm with the scale, practice breadth and global

reputation of Squire Patton Boggs was a logical step,” said Dr. Matthew Kemner, Chairman of Carroll Burdick, who has been asked to serve as a member of Squire Patton Boggs’ Global Board. “For a global firm of this size, we were impressed with their high level of integration and ability to mobilize client teams across virtually any area of law and geography for the better service of our outstanding global clients. This is a very exciting day for our clients and us.”

The combination is subject to a limited number of conditions and is expected to become effective in March 2016.

About Squire Patton Boggs:

Squire Patton Boggs is one of the world’s strongest integrated legal practices. With 45 offices in 21 countries, the firm is renowned for its local connections and global influence, delivering comprehensive legal services across North America, Europe, the Middle East, Asia Pacific, and Latin America. For more information, visit

About Carroll, Burdick & McDonough:

A leader in global product risk management and global litigation coordination, Carroll Burdick has over 50 lawyers on three continents, speaking more than 16 languages including German, English, Mandarin Chinese (Mandarin and Cantonese), French, Italian, Latvian, Malay, Romanian, Russian and Spanish, with over 20 percent of the firm’s lawyers having legal educations in two or more countries. This unparalleled experience provides the cultural insights necessary for effective global legal service that helps our international clients reach their global business goals.


Angelo Kakolyris
(212) 407-0148 This email address is being protected from spambots. You need JavaScript enabled to view it.

CMS advises on the sale of an office building in Poznań

CMS advised the developer, Garvest Real Estate, on the sale of the Pixel office building in Poznań.

The building was bought by Globe Trade Center in a EUR 32.2 million deal.

With its 14,500 square metres and a distinctive form designed by JEMS Architekci, Pixel is located in at ul. Grunwaldzka 182 in Poznań and is wholly occupied by the Allegro Group. 

For CMS, the sale of the Pixel office building was the second transaction in the Poznań office property market in the last few months (the Firm was also engaged by Bluehouse Capital Advisor in the acquisition of the Malta House building in Poznań).

“Investors’ interest seems to have been shifting towards regional office property markets in Poland for some time and it looks like this trend is here to stay. High quality assets in regional cities may be an interesting alternative considering that, with a growing supply of office space in Warsaw, owners may find it more and more difficult to obtain attractive leasing terms for their office space” – says Wojciech Koczara, partner heading the CMS Real Estate and Construction Practice in Poland and CEE.


The Firm’s involvement in the Poznań transaction included advising on the negotiations of the sale agreement.


The CMS team advising Garvest Real Estate on the sale of the property included: Wojciech Koczara, partner in the Warsaw office and head of the CMS Real Estate and Construction Practice in Poland and CEE, and Mateusz Wosiek, associate in the CMS Real Estate and Construction Department.

All-Poland supervisory boards’ competencies survey – share your view with us!

All-Poland supervisory boards’ competencies survey – share your view with us!

Accordingly to statistics, supervisory boards of Polish listed companies are composed from economists, engineers and lawyers. Nowadays boards care more than ever of the right competencies and experience of their members. These approach is taken to enhance efficiency, effectively respond to business challenges and meet shareholders expectations. What set of competencies would create a supervisory board which is effective, professional and valuable to owners and shareholders?

 We would like to invite the owners, investors, managers and non-executive directors of listed companies to participate in the All-Poland supervisory boards’ competencies survey. The results of the survey will be published in a report titled Supervisory Boards 2016. Trends and directions in change. Responders who fill the questionnaire and share their contact details will receive a copy of the report.

Your opinion is extremely important to us. Thank you in advance for sharing your insights!

Read more and access questionnaire here

CMS awarded in Polityka Insight Ranking of Regulatory Law Firms

CMS has received first place in Polityka Insight 2016 ranking of regulatory law firms in the “Energy” category. In addition, CMS is the only law firm on the Polish market that – having analysed the opinions of clients and competitors, as well as the scope of services provided – managed to meet the requirements of the ranking for the best advisors in the energy sector (listed as Group 1). CMS has also been awarded as one of the best in Poland in the field of competition law and banking law (Group 3).

The Polityka Insight 2016 ranking of regulatory law firms covers the regulatory advice market, i.e. the market related to public economic law enforced by authorities such as the Energy Regulatory Office, the Office for the Protection of Competition and Consumers (UOKiK) or the Financial Supervision Authority (KNF). The ranking takes into account four main criteria: (1) complexity of services provided by the law firm, (2) reputation of the law firm in the industry, (3) client feedback and (4) the average of the Anglophone rankings such as Chambers Europe and Legal 500.

CMS’s position in Polityka Insight ranking reflects the scale of its activity and the profile of its projects in recent years, as well as the complexity of the legal advice and the recognition and reputation of CMS teams.

“Regulated industries in Poland continue to face numerous challenges – on the one hand there are a number of regulations at the EU level, which local regulators and companies operating on the Polish market must take into account. On the other hand, one should expect regulatory changes originating from the domestic market. These changes sometimes have a major impact on the development prospects of companies in the regulated sectors, such as the energy, telecommunications, banking or insurance sectors. Regulatory changes bring about legal and business risks that need to be skilfully managed,” says Piotr Ciołkowski, Of Counsel in CMS’s Energy Department. 

The CMS energy team comprises more than 20 lawyers, including four partners. The department is headed by Karolina Siedlik, while Piotr Ciołkowski leads the regulatory team. Last year, CMS provided advice on, among others, the acquisition of PKP Energetyka by CVC Capital Partners, and advised Tauron Wytwarzanie in its dispute with the Energy Regulatory Authority concerning reimbursement of stranded costs. CMS’s clients are the leading companies in the energy industry, including PGNiG, PGE GiEK, ENEA and Lotos.

In turn, CMS’s competition law team, headed by Małgorzata Urbańska, consists of 7 lawyers. As well as antitrust law and merger control, the team also advises in matters relating to state aid, public procurement, consumer law and unfair competition. The team represents clients in proceedings both before the President of the Office for the Protection of Competition and Consumers, as well as before the European Commission. Recently, CMS lawyers successfully represented P4, the Play phone operator, before the Court of Competition and Consumer Protection in relation to an appeal against a decision of the President of the Office for Protection of Competition and Consumers, which imposed a fine on P4 for alleged participation in a cartel together with three other mobile operators (Orange, T-Mobile and Plus). 

Clients from the banking sector are supported by a team of 14 lawyers under the leadership of Małgorzata Chruściak in CMS’s Warsaw office. The team provides services to Polish and foreign banks, branches of financial institutions, companies and investment funds as well as their clients in all sectors in Poland and on the Central-Eastern European markets. It provides clients with regulatory advice on transactions carried out on the financial services market, on numerous real estate project financing transactions, and also represents banks in relation to all kinds of credit transactions, issues of debt instruments and entering into derivative instruments, as well as transactions related to the restructuring of debts of borrowers

Recently, the team took part in processes of the working group of the Union of Polish Banks in the course of works on the Restructuring Law. On behalf of the Association of Restructuring Practitioners it participated in the work of the Team of the Ministry of Justice and Ministry of Economy, preparing amendments to the Bankruptcy and Reorganisation Law and a draft of the Restructuring Law. In cooperation with Dispute Resolution team, our lawyers represents financial institutions (insurance companies, banks) in proceedings before the President of the UOKiK in cases concerning practices infringing collective consumer interests, court proceedings resulting from an appeal against a decision of the President of the UOKiK and in proceedings before the UOKiK for the recognition of standard contractual provisions as illegal.

The team also has extensive experience in regulatory matters related to both commencing and conducting business on the Polish financial services market as well as the processes associated with the winding up of operations and in relation to assisting financial institutions adapt to the changing legal regulations.


Squire Patton Boggs Partners the 2016 Polish and Central & Eastern Europe Private Equity Conference

Squire Patton Boggs Partners the 2016 Polish and Central & Eastern Europe Private Equity Conference.

Squire Patton Boggs is pleased to announce it is a partner to the third annual Polish & CEE Private Equity Conference, which will take place on Friday, 4 March 2016 at the InterContinental Hotel, Warsaw, Poland.

The one-day event provides a special opportunity to hear from more than 50 of the region’s top private equity (PE) specialists in several, focused panel discussions, as well as to network and meet the owners of relevant potential business targets from various sectors that are considering PE/VC financing, and 250 other PE professionals.

Topics covered in the panel discussions include the driving forces behind PE in the CEE region, successful fundraising, early stage investment, LP investment, deal sourcing, and current exit strategies.  Corporate partner Christopher Rose, who oversees Squire Patton Boggs’ private equity and venture capital practice in Central and Eastern Europe and Russia, will moderate the panel on eary stage investments and Michał Karwacki, who heads the private equity and venture capital team at the Warsaw office, will moderate the deal sourcing session.

Keynote speakers who will be presenting at the event include Ralf Huep (Advent International), Bill Fawkner-Corbett (CEE Equity Partners), Tomasz Czechowicz (MCI), Przemek Szczepanski (Syntaxis Capital), Peeter Saks (BaltCap), Alex Kacprzyk (Resource Partners), Tomasz Stamirowski (Avallon), Andrzej Mierzwa (21 Concordia), Kalmer Kikas (BPM Capital), Kaido Veske (Livonia Partners), Jacek Adamski (Lewiatan Business Angels), Pawel Chudzinski (Point Nine Capital), Marcin Hejka (Intel Capital), and Jean-Philippe Burcklen (European Investment Fund).

Three new Of Counsels in CMS

New appointments confirms the strong position of CMS’ energy team and CMS’ real estate team on the Polish market as well as the plans for further development of these practices in the coming years.

Zbigniew Kozłowski, advocate, head of the environmental law team operating within the Energy and Projects Department, Agnieszka Kuźma, advocate from the Real Estate and Construction Department, and Paweł Zalewski, legal counsel, leading the renewable energy team within the CMS Energy and Projects Department, were designated as Of Counsels in the CMS Warsaw office in January 2016.


Zbigniew Kozlowski is an advocate heading the environmental law team in CMS, a firm with which he has been associated since 2007. He advises on industrial emissions, trading in allowances for CO2 emissions, environmental impact assessments, waste management, water and wastewater management, permits for the use of the environment and environmental pollution.

At CMS he has provided comprehensive legal assistance to ENEA Wytwarzanie in matters relating to a leakage of fuel oil from the Kozienice power plant, decisions on environmental conditions, integrated permits and authorisations to participate in the ETS. He has developed scenarios of conduct for several power plants belonging to the Veolia group, aimed at obtaining additional free allowances for CO2 emissions. He has advised ArcelorMittal Poland in relation to deviations from BAT conclusions. He took part in preparing the strategy of the implementation of the IED directive in a network of a power plant and a heat and power plant from a leading energy group. He has successfully represented Clients in a number of administrative and administrative judicial proceedings. He has also participated in projects related to the construction of new generating capacity in the Polish energy sector.

He has been described by Chambers & Partners analysts as a notable practitioner, ranking in Band 2, while his team continues to be ranked in Band 1 since the creation of a separate “Environment” category in the Chambers & Partners ranking. Zbigniew Kozłowski is also one of the winners of “Rising Stars Prawnicy – liderzy jutra 2015” (“Rising Stars Lawyers – Tomorrow’s Leaders 2015”), acompetition organised by Dziennik Gazeta Prawna.

Paweł Zalewski – the leader of the renewable energy team – specialises in providing legal advice to entities operating in the energy industry. He has advised on matters related to the prospecting and exploring of hydrocarbons, in particular in relation to the regulatory and administrative issues in the context of obtaining administrative decisions necessary to conduct this type of activity. His experience also includes M&A transactions – he has prepared and negotiated M&A agreements for major wind energy projects. Additionally, he has many years of experience in the provision of ongoing support in relation to wind power projects. He has been working at CMS since 2009.

Agnieszka Kuźma is an advocate in the Real Estate and Construction Department in CMS, a firm with which she has been associated since May 2006. She specialises in real estate and construction law. Agnieszka provides comprehensive advice to Polish and foreign clients, primarily in relation to real estate sale, purchase and leaseback transactions. She also advises in relation to obtaining financing and refinancing for real estate transactions and projects, prepares and negotiates contracts in construction and investment processes (contracts for design works, contracts for general contracting, development contracts), including those performed in the framework of joint ventures, negotiates commercial property leases and pre-let contracts for the performance of projects within the build-to-suit system, and she drafts opinions on so-called restitution claims as part of comprehensive audits of the legal status of real estate. Her experience also includes advising on prestigious and complex real estate projects with the highest values of real estate transactions in Poland in recent years, including the purchase of office facilities worth 300 mln euros and 150 mln euros for foreign funds.

For the past ten years the CMS Energy Team has been ranked by Chambers & Partners analysts in Band 1, the highest category for Energy & Natural Resources. Since 2012, when a separate “Environment” category was added, CMS has continued to be ranked in Band 1. The CMS Warsaw office’s position in the energy sector has also been confirmed by the Legal 500 rankings, in which the firm ranked in Band 1 seven times in the past 8 years. Chambers & Partners also recognised CMS as the best advisor for the energy sector in the whole CEE region, ranking it in Band 1 in the “Project & Energy” category.


The CMS real estate team ranks in Band 2, both according to Chambers & Partners analysts and Legal 500 analysts. In 2014 CMS also received the Eurobuild “Law Firm of the Year” award.

About CMS:

CMS is an international law firm providing comprehensive legal and tax advice to companies, financial institutions and administrative bodies. We are one of the largest and most experienced international law firms in Poland – we have been operating on the Polish market for over 20 years. The Warsaw office of CMS employs 140 lawyers who advise clients operating in all key sectors of the economy. Further information:

Squire Patton Boggs Advises China-CEE Fund on Acquisition of Energy 21

Squire Patton Boggs’ Warsaw and Prague  offices have jointly represented China Central and Eastern Europe Investment Cooperation  Fund (China-CEE Fund) in its acquisition of Energy 21 a.s. from Mid-Europa Partners and Darby Private Equity for an undisclosed amount.

Energy 21 a.s. is a Czech investment company specializing in the construction and operation of solar power plants.  It is the largest Czech-based independent operator of photovoltaic power plants in Central and Eastern Europe, with an installed generation capacity currently of around 61 megawatts. The China-CEE Fund was established by China Exim Bank in partnership with other institutional investors from the CEE region to capitalize on investment opportunities in CEE countries.  The Squire Patton Boggs team was led by Corporate of counsel Pawel Magierowski in Warsaw, with partner Jeff McGehee leading the Prague team of Ivan Karpjak, Marketa Topinkova and Lenka Nova. European head of Energy & Resources, partner Trevor Ingle in London assisted on the UK law aspects.

“We are delighted to act for the China-CEE Fund on its first investment into the Czech Republic,” commented Prague office managing partner Radek Janecek.  “We have built up a regional team which offers one of the leading legal advisory services for  private equity investors in CEE, and alongside our private equity and VC specialists we have local experts in all relevant legal areas, such as tax and regulatory, and with in-depth industry knowledge, not least in technology and renewables.”


About Squire Patton Boggs Squire Patton Boggs is one of the world’s strongest integrated legal practices. With 44 offices in 21 countries, the firm is renowned for its local connections and global influence, delivering comprehensive legal services across North America, Europe, the Middle East, Asia Pacific, and Latin America. With expertise spanning all key sectors, the firm is also known for its preeminent public policy practice and deep-rooted relationships in Washington DC and Brussels. For more information,


CMS Emerging Europe M&A Report 2015/16

Central and Eastern European M&A markets diverging

Some markets see increase in deal value and volume, but CEE M&A activity down overall

Private equity fund investment up 16%

Investment by US based companies and funds increases by 61%


Fragmented investment landscape

Investors no longer regard Central and Eastern Europe as a coherent investment area as countries in the region present increasingly different risk profiles. While the CEE M&A market overall was down on 2014, a number of markets saw increases in 2015 in both deal value and volume, as reported in Emerging Europe M&A Report 2015/2016, published by CMS in cooperation with EMIS.

Helen Rodwell, Partner, CMS Prague :Political changes can be seen to have a direct, and often immediate, impact on the levels of new investment and the sustainability of investments. The net result for the region may be neutral, however, as investment is simply diverted to other CEE countries, rather than withdrawn”.


Stefan Stoyanov, Global head of M&A database, EMIS: “Looking ahead to 2016, we expect a year of respite for emerging Europe M&A. Political risks remain, but many external shocks have been curbed or at least taken into account. On the private equity front, ripe portfolios and a flight to higher returns are likely to spur more deals in the region.”

While the 2015 global M&A market saw more deals with more value than any year since 2007, CEE was relatively flat with a 3% decline in announced deals (2,138 transactions), but a sharper 15% decline in total value (from EUR 63bn to EUR 53,5bn). Poland, Hungary, Serbia and Bosnia and Herzegovina saw an increase in deals – both value and volume – from 2014.

Increased private equity interest

A total of 288 deals were announced (a 16% increase), more than half of which constituted new PE entries. The largest transactions predominantly attracted US and UK investors.

Radivoje Petrikić, Partner, CMS Vienna:“Private equity funds are traditionally characterised by a greater risk appetite than corporate players. It should be expected that funds will to a large extent shape the situation on the M&A market in the region in the coming months”.

US investors increasingly active

In 2015 US based investors increased their M&A activity in the region by 61% in value and 9% in volume with 127 deals valued at almost EUR 4bn.

Helen Rodwell, Partner, CMS Prague:The most active foreign investors in CEE in 2015 were from the US. This is not surprising, given the strength of the dollar against the Euro, and is a consistent trend across the European M&A market. A new wave of investment from China and a developing interest from South Korea was also apparent.”


CEE also saw more interest from German (a 22% increase in volume to 88 transactions) and UK investors (a 23% increase in value of transactions closed by UK–based buyers to EUR 2.5bn).  

The most active sectors in M&A

Manufacturing was the most targeted sector with 343 deals for a total of EUR 8.9bn (14% increase), followed by Telecoms & IT and Real Estate with 298 and 263 deals for EUR 5.7bn and EUR 8.3bn, respectively.

Information on the report:

The fifth edition of “Emerging Europe M&A Report 2015/2016” published by CMS in cooperation with EMIS presents the M&A trends for 2016 and an analysis of M&A deals valued over US$ 1mln announced in 2015 across 22 jurisdictions in Central and Eastern Europe, focusing on 15 of them in detail (Albania, Bosnia and Herzegovina, Bulgaria, Croatia, the Czech Republic, Hungary, Montenegro, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey and Ukraine, while data on Emerging Europe include also Belarus, Estonia, Kosovo, Latvia, Lithuania, Macedonia, and Moldova). The report will be available from 19th January at

Information about CMS:

Founded in 1999, CMS is a full-service top 10 international law firm, the largest in Europe, based on the number of lawyers (Am Law 2013 Global 100). With 59 offices in 33 countries across the world, employing over 3,000 lawyers, CMS has longstanding expertise both at advising in its local jurisdictions and across borders. CMS acts for a large number of Fortune 500 companies and the FT European 500 and for the majority of the DAX 30.

CMS provides a wide range of expertise across 18 expert practice and sector areas including Banking and Finance, Commercial, Competition, Corporate, Dispute Resolution, Employment, Energy, Intellectual Property, Lifesciences, Real Estate, TMT and Tax. For more information, please visit

CMS offices and associated offices: Aberdeen, Algiers, Amsterdam, Antwerp, Barcelona, Beijing, Belgrade, Berlin, Bratislava, Bristol, Brussels, Bucharest, Budapest, Casablanca, Cologne, Dubai, Dusseldorf, Edinburgh, Frankfurt, Geneva, Glasgow, Hamburg, Istanbul, Kyiv, Leipzig, Lisbon, Ljubljana, London, Luxembourg, Lyon, Madrid, Mexico City, Milan, Moscow, Munich, Muscat, Paris, Prague, Rio de Janeiro, Rome, Sarajevo, Seville, Shanghai, Sofia, Strasbourg, Stuttgart, Tirana, Utrecht, Vienna, Warsaw, Zagreb and Zurich.

Information about EMIS:

EMIS operates in and reports on countries where high reward goes hand-in-hand with high risk. We bring you time-sensitive, hard-to-get, relevant news, research and analytical data, peer comparisons and more for over 120 emerging markets. Our information platform provides a unique blend of analysis, data and news on companies, industries and countries. We license content from the cream of the world's macroeconomic experts, the most renowned industry research firms and the most authoritative news providers. We combine this with our own company and M&A research to offer a multi-faceted view of each emerging market. Formed over 20 years ago, we employ nearly 300 people in 13 countries around the world, providing intelligence to nearly 2,000 clients. We are part of Euromoney Institutional Investor plc. For more information, please visit

Amcham Student Essay Contest 2015 Winner

Hubert Motyka nominated by Universal Express- the winner of the ninth edition of the American Chamber of Commerce Student Essay Contest. The essays weree judged by an Awards Committee made up of Board of Directors and AmCham Members


We live in an era of innovation. But what really is innovation? We often associate innovation with

groundbreaking discovery of a new medicine,  development of better computer or space travel. But

these are only one kind of innovation, these are technological advancements, engineering

inventions. Another type is mental innovation, change in one’s way of thinking. They are seen

throughout history as the most important events. Mental innovations are often connected to, or

even cause the technological innovations.

Today we live in an era of innovation. Technological progress has never been so rapid and we have

never been so focused on keeping this forward movement before. In fact, the only way to maintain

this rate of innovation is to cooperate. The best example of such cooperation is between Poland

and the US. Teams consisting of Polish and American scientists carry out studies in different fields of

science, for instance on proteins which contribute to the development of new therapies to cure

human diseases (such as AIDS or leukemia), or on superconductors which are likely to revolutionize

the future of electronic devices. Both American students in Poland and Polish students in America

are involved in scientific research or engineering. Under the supervision of their professors they

make our food healthier, they build everything from Martian rovers to 3D-printers, they design

better prostheses which feel like real limbs. They even make our morning commuting easier and

faster by developing self-driving cars.

The Polish-American cooperation is present not only in the scientific field but in business as well.

More and more American companies are entering the Polish market and vice versa, speeding up the

economies of both countries and providing human capital and products which otherwise would not

be available to the consumer. Tightening business, diplomatic and cultural bonds allows the citizens

of both countries to live a better, wealthier and more modern life. Achieving these mutual benefits

would not be possible without arguably the most important innovation of all: changing our way of

thinking, which was mentioned earlier. Poland and the US have always maintained close

relationships, however, the level of life we live today was reached only recently. What changed? We

became more open-minded, more informed and better educated. We finally understood that joint

thinking pays.

Innovation is everything. Innovation is life. Innovation is what makes us different from other

species. Thanks to our cognitive abilities we now are where we are. We have invented language,

agriculture, civilization, we have undergone the industrial revolution, and right now we are on the

edge of new substantial event which will change our lives forever. We may be certain about it,

because the only constant thing in life is change. It is now our task to direct those changes in the

good direction, the direction of progress and innovation. The only way to achieve this is to

strengthen our mutual Polish-American relationships and to educate the future generations. We are

a part of a much longer process, and the responsibility of maintaining this trend of progress and

innovation lies in our hands.

CMS advises listed Polish household appliances company, Amica, on the acquisition of the UK-based CDA.

CMS has advised Poland-based manufacturer and wholesaler of household appliances Amica Wronki S.A. (“Amica”) on the purchase of the entire issued share capital of The CDA Group Limited (“CDA”), a UK-based retailer of high quality kitchen appliances, from its shareholders, three individuals, for GBP 24.3m. The financing of the acquisition was partly funded from Amica’s own funds and partly via a bonds issue.


The transaction will expand Amica’s existing network which spans across Poland, Germany, the Russian Federation, the Nordic countries, the Czech Republic, Slovakia and now the United Kingdom.


The deal represents one of the largest private investments in the UK from Poland and is another prime example of CMS’ ability to deliver seamless advice across multiple jurisdictions, the lawyers on this transaction being based in Warsaw, London, Glasgow, Bristol and Edinburgh. 


The CMS team advising Amica was led by Graham Conlon (English-qualified corporate and private equity partner based in Warsaw) and Valentina Santambrogio, with invaluable assistance from Paulina Lasocka-Wysoczańska, Grzegorz Pączek , Kyle Abrey, Charlotte Higgins, Robert Lammiman, Anna Spichenko, Vitalii Mainarovych, Dawid Koruba, Simon Howley and Jakub Lerner (Corporate), Eileen MacMahon and Fraser Vandal (Employment), Sally Badham and Marcin Patrzala (Real Estate), Alexandra Tuck, Arkadiusz Michaliszyn, Jim Hillan, Tair Hussain, Agnieszka Sałuda, Łukasz Dynysiuk, Anna Burchner and Philip Reid (Tax), Caroline Hobson (Competition), Jacek Liput, Krzysztof Sikora, Michał Derdak and Agnieszka Starzyńska (Commercial, Regulatory and Disputes), Alistair Hill and Mathew Boyle (Pensions) and Valentina Keys (Environment).


Global law firm White & Case LLP has advised a consortium of banks that included Bank of America Merrill Lynch, Deutsche Bank, Goldman Sachs International, Santander GBM and Societe Generale Corporate & Investment Banking on the issuance by PZU Finance AB (publ) of registered bonds of a total nominal value of €350 million.


The bonds were issued on October 16, 2015 and bear interest at the fixed rate of 1.375 percent per annum. Interest on the bonds will be paid once a year and they will be redeemed on July 3, 2019. The bonds were listed on the regulated market of the Irish Stock Exchange on the basis of an issue prospectus approved by the Central Bank of Ireland. The bonds were assimilated with a previous bond issuance made by PZU Finance on July 3, 2014 and create a single series of bonds with a nominal value of €500 million. White & Case also advised on the previous bond issuance.


The White & Case team which advised on the transaction was led by partner Marcin Studniarek (Warsaw) and included partner Doron Loewinger (London) and associates Michał Petz, Magdalena Chałas (both Warsaw) and Catherine Andrews (London).


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Global law firm White & Case LLP has advised a consortium of banks consisting of Bank Zachodni WBK S.A.Bank BGŻ BNP Paribas S.A.Bank Gospodarstwa KrajowegoBank Polska Kasa Opieki S.A. and mBank S.A. on the financing in the form of a revolving credit of up to PLN 700 million (around US$180 million) for Eurocash S.A. 

 The funds made available to Eurocash will be used to repay part of its existing short term financial debt and for the company’s general corporate purposes.

The Eurocash group is a leader in the wholesale distribution of fast moving consumer goods, household detergents, alcohol and tobacco products. It is also the franchiser of a number of retail stores including Groszek, Delikatesy Centrum, Polska Sieć Handlowa Lewiatan and the ABC trade network. 

The White & Case team in Warsaw that advised on the transaction included partner Tomasz Ostrowski and associate Sylwia Opiatowska 

White & Case

White & Case LLP is a leading global law firm with lawyers in 39 offices in 25 countries. Among the first US-based law firms to establish a truly global presence, we provide counsel and representation in virtually every area of law that affects cross-border business. Our clients value both the breadth of our global network and the depth of our US, English and local law capabilities in each of our regions and rely on us for their complex cross-border transactions, as well as their representation in arbitration and litigation proceedings.

CMS wins Legal Advisor of the Year for the chemical sector

CMS has received the “Diamonds of Polish Chemistry” award (Diamenty Polskiej Chemii) for best legal advisor. This prestigious award is granted at the Chemical Industry Forum & Awards Gala, organised by the Executive Club.  A jury of experts grants the award to distinguished individuals and companies who have contributed to strengthening the Polish chemical industry’s competitiveness and international reputation.  “The Polish chemical industry is at an interesting moment – on the one hand, large scale innovative investments are being made, while on the other hand it faces numerous challenges, such as high energy consumption and dependence on raw material supplies which, in the current economic and political situation, significantly impact the development of the industry. Regulatory issues at the national and EU level are also important. They hugely affect the outlook for the industry and require skillful management of legal risk,” says Karolina Siedlik, CMS partner responsible for legal advice in the chemical industry.  CMS cooperates with leading chemical and petrochemical companies in Poland, providing advice on regulatory matters and investment projects at every stage of implementation (including financing), as well as on environmental issues.   Last year, CMS began working on the largest chemicals projects in Poland, in cooperation with Grupa Azoty Zakłady Chemiczne Police S.A. and PKN Orlen, among others.   In addition to providing consulting services to Polish and international companies in the chemical industry, CMS is an active member of PIPC, acting in the Commission on Sustainable Development

Squire Patton Boggs adivsed at the first PPP hospital

Squire Patton Boggs, Wolf Theiss DLA Piper, CDZ Law, and SDZ Legal have advised InterHealth Canada, and CMS has advised the EBRD, FM Bank PBP, and Alior Bank, on agreements for the design, construction, equipment, operation, and transfer of Zywiec Poviat PPP Hospital in Poland, in what the parties are describing as "a landmark structured transaction for a new build Integrated Healthcare PPP.”

A cross-border Squire Patton Boggs team led by partner Peter Swiecicki (Warsaw) has advised client InterHealth Canada Limited on the finance documents for a new hospital in Żywiec, Poland. Structured as an “integrated public-private partnership” (facilities and clinical operations) this will be the first PPP healthcare facility in Poland.

On 7 September 2015, InterHealth Canada Limited and the lenders, EBRD, FM Bank PBP and Alior Bank, signed the Term Facilities Agreement along with key finance documents; and FM Bank PBP and InterHealth Canada signed the VAT Facility Agreement. Construction will start once financial close is reached, although certain preparatory works may start sooner. The New Zywiec Poviat Hospital is on target to admit patients in late 2017/ early 2018.

Working alongside Peter Swiecicki were associate Malgorzata Olech (SPB Warsaw), Financial Services partner Claire Shepherd (SPB Manchester) on English law issues, and co-leader of the Healthcare Practice Group Stephen Nash (SPB Denver) as Responsible Attorney for the client.

The long-awaited and highly needed new hospital in Zywiec will bring significant benefits to the local community and provide them with access to top-quality, comprehensive healthcare services, including general acute care services and ambulatory care, prophylactic medicine, elective procedures and cutting edge diagnostics. The construction of the hospital will take two years to complete. This will be followed by a period of commissioning. The hospital will begin to admit patients in late 2017/ early 2018.

It will be operated and managed by InterHealth Canada until 2045, after which it will be returned to Zywiec Poviat in accordance with the PPP Agreement. It is expected that other districts in Poland and governments in the CEE will seek to replicate the Zywiec PPP model.

CMS advises on the IPO of InPost S.A.

CMS has provided legal advice in the course of Inpost SA’s IPO to managers: IPOPEMA Securities S.A., Wood & Company Financial Services and Alior Bank S.A. Brokerage House. The IPO of the largest independent postal operator in Poland saw the offer of existing shares worth over PLN 121 million. SA Group will use proceeds from the sale of the shares to further develop its network of parcel machines (paczkomaty™).
InPost’s IPO involved the sale of 4.85 million shares of the previous owner of Inwestycje, of which 17.4% went to individual investors and 20% to the European Bank for Reconstruction and Development. The share price was set at PLN 25.

The IPO, which took place on 13 October this year at the Warsaw Stock Exchange, is one of the largest public offerings carried out at the WSE in 2015.

In September, CMS announced the expansion of the Capital Markets Team in Poland and the strengthening of its position in the area of IPOs, bond issues and withdrawals of companies from public trading. InPost’s IPO is the first public offering prepared by the expanded CMS team, joined by Michał Pawłowski, partner and head of the team, Rafał Woźniak, Of Counsel, and Magdalena Trzepizur, a lawyer specialising in capital markets law.
“Recently we have seen growing interest in IPOs from other companies. The success of InPost’s IPO is an important factor when they make decisions about the direction of their development. InPost’s success may be a strong argument for the development via the stock exchange,” says Michał Pawłowski, partner at CMS and head of the Capital Markets Team. “This transaction proves that good companies may debut on the Warsaw Stock Exchange successfully, even in difficult times for the capital markets,” adds Rafał Woźniak, Of Counsel in the CMS Capital Markets Team.

Kozminski’s Lions 2015 to CMS

Michał Pawłowski, partner at CMS in Poland, has been awarded the “Kozminski’s Lions 2015” award in the “Lawyer” category assigned by Kozminski  University. According to the Financial Times, Kozminski is one of the 50 best business universities in Europe.  The purpose of the “Kozminski’s Lions” competition is to distinguish alumni who have achieved professional success and whose career path can be an example for other students and alumni of the university.  The Jury evaluating candidates this year has taken into account such criteria as candidate’s career path and its dynamics, market position and brand of the company. The competition is divided into three categories: Manager, Entrepreneur and Lawyer.


Michał Pawłowski joined CMS in September 2015 as a partner to lead the Capital Markets Team within the transactions practice in Poland. He has advised in the most importanttransactions involving listed companies on the Polish market, such as, for example (valued at more than EUR 4 billion) the takeover of Bank Zachodni WBK by Banco Santander, the leading Spanish financial group, as well as the merger of Bank Zachodni WBK and Kredyt Bank SA. He is an advocate, a Doctor of Law and an economist. For many years he has specialised in capital markets transactions, commercial law and securities law. He represents clients in public share offers (primary and secondary), bond issue programmes,delisting (P2P) as well as mergers and acquisitions. He is a graduate of the Adam Mickiewicz University in Poznań (Law) and Poznań University of Economics (Economics). He now teaches at Koźmiński University in Warsaw. Prior to joining CMS, Michał gainedexperience at law firm DLA Piper, where he co-founded and coordinated the capital marketsteam (most recently as counsel in the Corporate Law Department). He has also worked at White & Case.

The Future of the United States

Spurred by the presidential election in 2016 – and because this election will play a critical role in the nation’s progress over the next decade – Frost & Sullivan has undertaken a comprehensive study of the future of the United States, analyzing the many Mega Trends that will affect American citizens and business through 2025.  This webcast will provide an overview of key findings from this research and will explore some of the themes that emerged throughout our research, including:

• How expanding data frontiers will force companies to find ever-more-creative ways of keeping pace with rapidly evolving technology
• America’s “network culture” that connects communities and friends, and how virtual relationships across geographies are redefining families, friendships, and professional networks
• The reality of the new “human-centric” workplace and how it will become key to employees’ future health, wellness, and happiness
• The intersection of the collaboration and competition economies, and how companies will take advantage of more opportunities to share assets and form partnerships, while simultaneously trying to compete in a crowded field and amid rapidly evolving customer dynamics

Live online Sep 30 4:00 pm United Kingdom - London or after on demand 75 mins

Register for free

CMS bolsters capital markets team

CMS is expanding its range of services in Poland. Within the transactions practice, the Capital Markets Team is taking on new staff. Partner Michał Pawłowski joined on 1 September to lead the team. On 1 July, of counsel Rafał Woźniak joined the team, along with Magdalena Trzepizur, a lawyer specialising in capital markets law.

The new team will strengthen CMS’s position in the area of IPOs, bond issues, delisting and public to private transactions. The new lawyers bring CMS experience in the most important transactions involving listed companies on the Polish market, such as, for example (valued at more than EUR 4 billion) the takeover of Bank Zachodni WBK by Banco Santander, the leading Spanish financial group, as well as the merger of Bank Zachodni WBK and Kredyt Bank SA. 

Michał Pawłowski is an advocate, a Doctor of Law and an economist. For many years he has specialised in capital markets transactions, commercial law and securities law. He represents clients in public share offers (primary and secondary), bond issue programmes, delisting (P2P) as well as mergers and acquisitions.

He is a graduate of the Adam Mickiewicz University in Poznań (Law) and Poznań University of Economics (Economics). He now teaches at Koźmiński University in Warsaw.

Prior to joining CMS, Michał gained experience at law firm DLA Piper, where he co-founded and coordinated the capital markets team (most recently as counsel in the Corporate Law Department). He has also worked at White & Case.

Of counsel Rafał Woźniak will advise on capital market transactions, commercial law, corporate matters and bond issues. Recently he advised on the initial public offerings of companies such as Poznańska Korporacja Budowlana Pekabex SA and Enter Air SA.

Prior to joining CMS Poland Rafał worked for the Warsaw office of DLA Piper. He is a Doctor of Law and a graduate of law and political science from the Nicolaus Copernicus University in Toruń.

An expert in capital market law and company law, Magdalena Trzepizur will support CMS’s clients in primary and secondary public offerings, mergers and acquisitions as well as other transactions involving public companies. She has advised issuers of securities as well as brokerage houses and investment banks on IPO and SPO processes. More recently she has participated in the preparation of initial public offerings of shares for, among others, Poznańska Korporacja Budowlana Pekabex SA and Enter Air SA. Prior to joining CMS, Magdalena worked at the Warsaw office of DLA Piper. She graduated from the Faculty of Law and Administration at the University of Silesia in Katowice.

Together with the new lawyers, the Capital Markets team includes other experienced CMS lawyers: Dariusz Greszta, partner, Zuzanna Jurga, senior lawyer, Rafał Kluziak, lawyer and Dawid Koruba, lawyer.

CMS is an international law firm that provides comprehensive legal and tax advice to companies, financial institutions and administrative bodies. We are one of the largest and most experienced international law firms in Poland – we have operated on the Polish market for over 20 years.

The CMS office in Warsaw has 140 lawyers who advise clients from all key sectors of the economy. For more information see:



Women! Let’s work together!

Women! Let’s work together!

We are very proud to announce that Beata Stelmach, GE’s CEO for Poland and the Baltics, has received an honorary decoration for her services to the Polish economy’s development – the award given in person by Janusz Piechociński, Poland’s Deputy Prime Minister. The official gala was organized by the “Women’s Activeness” Association and held last Friday in Wroclaw, Poland. The award ceremony was preceded by a conference called “Economy is a Woman” which had the aim of promoting women’s activeness in business. The participants could listen to success stories from well-known businesswomen and gain advice from more experienced colleagues and the network.

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White & Case advised in connection with the sale of shares of Polenergia S.A. amounting to PLN 189 mln through ABB.

White & Case advised in connection with the sale of shares of Polenergia S.A. amounting to PLN 189 mln through ABB.

White & Case P. Pietkiewicz M. Studniarek i Wspólnicy – Kancelaria Prawna sp.k., which belongs to the global law firm White & Case LLP, acted as the exclusive counsel in connection with the sale by Mansa Investments sp. z o.o. (a wholly-owned indirect subsidiary of Kulczyk Investments S.A.) of 15.4% of Polenergia S.A. shares amounting to PLN 189 mln through accelerated book-building.

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Global law firm White & Case LLP has advised Dom Maklerski mBanku S.A. acting as the Global Coordinator, Joint Bookrunner and Joint Offering Agent, mBank S.A. acting as the Underwriter and Bank Zachodni WBK S.A. acting as the Joint Bookrunner, Joint Offering Agent and Underwriter, on the USD140 million initial public offering and listing of shares of Uniwheels AG on the Warsaw Stock Exchange.

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GE Drives Dialogue on Regional Change

As most of the countries in Central and Eastern Europe (CEE) are now working on new energy policies, it is the right time to make bolder decisions on how the energy transition can be implemented in order to boost competitiveness in the region. That is why GE together with its partners: Lewiatan, a Polish confederation of private employers and the American Chambers of Commerce from Poland, Czech Republic, Lithuania, Latvia and Estonia organized on May 7 in Warsaw the regional multistakeholder debate “How to Drive Energy and Industrial Growth in Central and Eastern Europe?”. The discussion gathered representatives of governments, regulatory, science  and European institutions as well as business leaders from 7 countries.

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AmCham as a Patron of XI International MBA Congress

Amcham is the Patron of XI International MBA Congress taking place from May 15 to 17 in Cracow. The event is organized by the Kraków University of Economics, and will gather representatives of Polish and foreign universities and leading experts and economists. The key note speaker will be Professor Charles Wankel, Ph.D., Associate Professor of Management in St. John’s University.

The participants will have the opportunity to take part in the networking events like study visits to selected companies (Coca Cola HSBC, MAN Trucks, Silgan White Cap, Woodward), official diner with charity auction and golf tournament.



More info in Polish


For more information , see www.kongresMBA,pl or contact: This email address is being protected from spambots. You need JavaScript enabled to view it.

Squire Patton Boggs Advises MCI Management as Leading Investor on Auctionata's EUR 42 Million Funding Round

Squire Patton Boggs Advises MCI Management as Leading Investor on Auctionata's EUR 42 Million Funding Round.

Squire Patton Boggs has advised MCI Management, the leading investor in the Auctionata online auction house's series C financing round with a total new investment of EUR 42 million (USD 45 million). Auctionata — which was represented by Hogan Lovells — also welcomed Hearst Ventures from New York (which was represented by Taylor Wessing), leading growth investor Kreos Capital from London, and Yuan Capital from Hong Kong as new investors.

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Double success for CMS Poland’s Tax Team

Congratulations! Double success for CMS Poland’s Tax Team! 

In the 9th Annual Ranking of Tax Advisors by Dziennik Gazeta Prawna (one of the leading economic dailies in Poland) CMS Polska Tax Team was recognised as the Best as well as the Second Most Effective tax team in Poland, in the category of small tax firms. The ranking considered various criteria, including turnover per tax team fee earner, number of clients, complexity of cases, influence on the market and tax payers, quality and innovation. This is a spectacular result, especially taking into account that this relatively small tax team acts on projects that tax advisory giants would be delighted to work on. CMS has also beaten other international law firms – none of them was ranked number one in any of the categories.

The comprehensiveness of our offer and our long-term cooperation with some key clients have been recognised in the ranking. Our advisory for Saipem SpA (ENI Group) and Techint SpA (two members of the Saipem-Techint-PBG consortium), with regard to the EUR 692 mln construction of the Liquefied Natural Gas (LNG) terminal in Świnoujscie – one of the most significant strategic investments in Poland – was noted and appreciated. Our work for Saipem covered the establishment and management of the investment as well as internal finance settlements. We also successfully represented the consortium in a dispute with Poland’s Minister of Finance. The case concerned the interpretation of VAT payment obligations by the Minister of Finance, with a disputed amount of more than EUR 240 mln. Three administrative courts judged in our client’s favour, securing this strategic investment with a tax breakthrough judgment.

CMS Polska Tax Team is run by Partners and tax advisors Arkadiusz Michaliszyn and Andrzej Pośniak. Team members are lawyers Agnieszka Sałuda, Piotr Nowicki and Łukasz Dynysiuk.

Firm’s Poland Private Equity and VC Leader is Appointed Partner

Firm’s Poland Private Equity and VC Leader is Appointed Partner at Squire Patton Boggs


Squire Patton Boggs is pleased to announce that its Head of Private Equity (PE) and Venture Capital (VC) in Poland, Michał Karwacki, has been promoted to Partner in the firm’s Warsaw office. Mr. Karwacki has some 15 years of transactional experience, with a special focus on the private equity and VC sectors.  Since joining Squire Patton Boggs’ Global Corporate Practice in May 2014, Mr. Karwacki has led the firm’s private equity and VC team in Poland by developing close relationships with local PE Houses that are extremely active in their markets.

Mr. Karwacki is known for his skills in managing and advising on all aspects and stages of private equity and VC transactions, from matching potential deal partners, and structuring and negotiating the deal to closing and post-completion work.  He has been involved in some of Poland’s leading transactions in the sector.  A well known commentator on the market and a key speaker at the recent 2015 Polish & CEE Private Equity Conference in Warsaw, Mr. Karwacki has been recognized by Chambers Europe 2014 as “a key figure with a strong track record in private equity”. He is also praised by clients and market observers in Chambers Europe as “a noteworthy lawyer who is thorough and committed”, and endorsed for his “energetic approach” as well as "efficiency, experience and excellent skill-set”.

Squire Patton Boggs is recognized as a leading adviser in the private equity and VC markets in Central and Eastern Europe. Since 2014 Mr. Karwacki has worked closely with colleagues in the firm’s Global Corporate Practice to develop the private equity and VC portfolio not just in Poland but also in neighbouring countries in the CEE region.  

Peter Święcicki, Squire Patton Boggs’ office managing partner in Warsaw, said: “We’re delighted to have Michał as a Partner in Warsaw. He has proven to be an inspirational colleague, delivering commercially astute advice to valuable clients and enhancing our market reputation through excellent deals. I’am sure that this is just a beginning of a promising careear for Michał and Squire Patton Boggs.”


About Squire Patton Boggs

Squire Patton Boggs is one of the world’s strongest integrated legal practices.  With 44 offices in 21 countries, the firm is renowned for its local connections and global influence, delivering comprehensive legal services across North America, Europe, the Middle East, Asia Pacific, and Latin America.   With expertise spanning all key sectors, the firm is also known for its preeminent public policy practice and deep-rooted relationships in Washington DC and Brussels.  For more information, visit





Analysis of President Obama’s State of the Union Address

President Barack Obama's State of the Union address. What to expect from the 114th Congress? Read Squire Patton Boggs analysis.

President Barack Obama delivered his State of the Union address to a joint session of Congress on Capitol Hill on Tuesday, Jan. 20, 2015, in Washington. Given six years to the day of his first Inaugural Address, this was his first address to a Congress under Republican control. What to expect from the 114th Congress?

We reccomend to read the Squire Patton Boggs analysis of President Obama’s State of the Union Address and believe, AmCham members will find it of interest given the global importance of the US economy


KPMG FORUM is a Polish-English quarterly where experts from KPMG in Poland share their professional expertise in audit, taxation, as well as strategic, operational and legal advisory services.

Articles in this issue:

  • ‘Independent supervisory board members: a choice or a necessity?’ – Monika Bartoszewicz
  • ‘Practical issues in the application of the amended provisions of the Corporate Income Tax Act with respect to thin capitalization’ – Rafał Ciołek, Dominika Łabędzka
  • ‘Online or offline? Omni-channel selling as a challenge for service retailers’ – Jan Karasek, Andrzej Musiał, Piotr Kwiatkowski
  • ‘Property Lending Barometer 2014. A survey of banks on the prospects for real estate lending in Europe’ – Steven Baxted
  • ‘Differences in valuation of private and public companies’ – Tomasz Wiśniewski, Jacek Komór
  • ‘When lending to a natural person, better check their self-employment status’ – Katarzyna Zwolińska-Sosnowska

Downloand now click HERE

KPMG FORUM is a Polish/English quarterly, printed on recycled paper, authored by KPMG experts from the Polish practice. Based on their professional experience, the authors explore the challenges and problems arising in their daily work. The magazine includes current publications that are valuable in terms of business and address the issues of audit and tax, as well as strategic, operational and legal advisory issues.

More information about KPMG FORUM

Materials received from KPMG Sp. z o.o.

White & Case Advises Synthos S.A. on €350 Million Senior Notes Issuance

Global law firm White & Case LLP has advised Synthos S.A., one of the largest European producers of chemical raw materials, on the issuance of senior notes with a total value of 350 million. The notes have been issued by Synthos Finance AB (publ), a special purpose vehicle with a registered office in Stockholm, Sweden and a wholly owned subsidiary of Synthos S.A.

The bonds were issued under a private offer to selected institutional investors, pursuant to Regulation S and Regulation 144A of the U.S. Securities Act of 1933. The agreement on the conditions of the bond issue is governed by the law of the State of New York, USA. The bonds are unsecured with a stable interest rate of 4.00 percent per annum reaching final maturity in 2021. The bonds are listed on the Irish Stock Exchange and admitted for trade on the Global Exchange Market.

 “This was a complex project involving Polish, Swedish, Czech and American law, bringing together several teams of White & Case lawyers, from the capital markets practice as well as banking and finance, acting simultaneously in several of our offices,” said White & Case partner Andrzej Sutkowski, who coordinated Synthos’ issuance of bonds. “In the last year the Firm has actively advised on all high yield bonds issued by Polish companies, which clearly demonstrates our reputation among law firms advising on debt instruments.”

The Firm advises on projects including the issuance of bonds by P4 (the Play operator), TVN S.A. and PZU S.A.

The participating banks included BNP Paribas, Citigroup Global Markets Limited, Deutsche Bank AG, London Branch, Banco Santander S.A., ING Bank N.V., London Branch, Powszechna Kasa Oszczędności Bank Polski S.A. and UniCredit Bank AG.

The White & Case team in Warsaw advising Synthos S.A. was led by partners Marcin Studniarek and Andrzej Sutkowski. They were supported by local partner Tomasz Ostrowski and associates Bartosz Smardzewski, Monika Dużyńska, Aneta Urban and Sylwia Opiatowska; partners Rob Mathews and Jill Concannon and associates Annie Serafim and Jennifer Reiss in London; partner Carl Hugo Parment and associates Michael Bark-Jones, Petter Alberts and Emil Björkhem in Stockholm; local partner Eva Svobodová, counsel David Ilczyszyn, and associate Ondřej Bartoň in Prague; and partners John Donovan and Gregory Little in New York.


Prologis Acquires 50,000 Square Metres in Poland From Invesco Real Estate

Prologis, Inc., the global leader in industrial real estate, and Invesco Real Estate (IRE), the global real estate investment manager, announced that Prologis European Properties Fund II (“PEPF II”) has solely acquired a high-quality logistics facility in Poland from IRE’s flagship pan-European
open-ended strategy.Renamed Prologis Park Stryków II, the facility comprises 50,000 square metres and is 100-percent leased to Castorama. It is located 18 kilometres southwest of Łódź city centre and 2 kilometres from the intersection of the A1/E75 highway (Gdansk-Vienna) and the A2/E30 highway (Berlin).

The transaction follows the first acquisition by PEPF II from Invesco Real Estate of two logistics facilities in Poland and Hungary, totalling 94,200 square metres, in July.

“This acquisition is a unique opportunity to purchase a premium-quality asset,” said Ben Bannatyne, managing director, Prologis Central and Eastern Europe. “This facility complements PEPF II’s existing portfolio and meets rising demand for well-located logistics infrastructure in Poland.”

Tomas Picha, Director, CEE Transactions at Invesco Real Estate, said: “The successful sale of Castorama confirms the continued demand among institutional investors for core assets in Poland. This demand, combined with our active management of our client‘s investment objectives, meant the timing was optimal for us to sell this outstanding asset. However, we continue to have a strong interest in the region on behalf of our existing investment mandates.”

Hilton Warsaw Hotel & Convention Centre Announces New Sunday Lunch

Hilton Warsaw Hotel & Convention Centre is now expanding its culinary offer by introducing the new Sunday lunches at Meza restaurant.

With the start of the autumn season, the hotel will introduce a completely new concept of a Sunday meal. “By launching our Sunday lunch, we would like to fill a gap on the Warsaw market,” said Erwin Verhoog, general manager, Hilton Warsaw Hotel & Convention Centre. “Sunday brunches are becoming more popular among locals, and almost all top-pier hotels offer one. They are all sophisticated buffets, looking to impress with variety and preparation of food. Our lunch concept will be much more informal, designed in order to help our guests connect; spend some quality time with their family and friends over a meal.”

That is why the new menu, created by the hotel's celebrated chef Sven Thomsen, will put an emphasis on fresh, homemade dishes served directly to the table for the guests to share. It will feature all time Sunday lunch favorites, from warming soups to the oven roasted chicken to juicy BBQ pork ribs, as well as brunch classics such as eggs Benedict, grilled sausages and pancakes. The price is only 99 PLN per adult including water, with children up to 6 eating for free and those from 6 to 15 years old enjoying 50% discount. Those who would like to upgrade their lunch with unlimited beer and wine and a glass of Prosecco on arrival can do it for as little as 49.50 PLN per person. The additional beverage package will also include soft drinks for children free of charge. Parents will certainly be happy to know that the hotel will provide creative childcare for their kids as well as healthy food options within the children’s menu. Live piano music will also undoubtedly contribute to the homely atmosphere.

To learn more please visit

2014 Mid-Term Congressional Analysis by Squire Patton Boggs

To help you get a better sense of what the US Congressional mid-term elections could mean for your business in the United States in the next two years, Squire Patton Boggs has prepared an analysis of the election results. Please find a link to this up-to-the-minute 2014 Mid-Term Congressional Analysis here: Post Election Analysis

This analysis highlights What to Expect from the 114th Congress in the Run Up to the 2016 US Presidential Election.  It provides an in-depth analysis of the issues that the new Congress will face, covering Appropriations/Budget, Defense and National Security, Education Policy, Energy and the Environment, Financial Services, Food and Agricultural Policy, Healthcare Policy, Homeland Security and Cybersecurity, International Policy Issues, Tax Policy, Technology and Communications, Trade Policy, and Transportation and Infrastructure.

Frank Samolis, a Squire Patton Boggs Partner and one of the co-authors of this Analysis, will be providing a briefing for AmCham members on Friday, 14 November at 9:30, and will be available to provide more background on the election results, the incoming Congress, and particularly on Trade Policy issues.

Polish "Ethical Company" Contest: GE and Orlen as Partners

Puls Biznesu daily announced the start of the “Ethical Company” initiative – the project supported by PwC with GE and Orlen Companies as partners. Please see attached the interview (Puls Biznesu daily, Nov. 5) with Beata Stelmach, GE CEO Poland&Baltics (interview available in Polish only).

For more details please read the below post on the GE for CEE blog:

Please share the “Ethical Company” initiative link with your business partners and engage them to participate in the contest. All the materials under the link available in the Polish language.

Companies that in the most comprehensive way have undertaken action aimed at building and strengthening organizational culture, and which show the highest activity in this area compared to other companies in Poland are asked to participate!



Regent Warsaw Hotel in Warsaw is Awarded the 5-Star Category

The Regent Warsaw Hotel, a prestigious Warsaw hotel located in the direct vicinity of the Łazienki Park, has just received its fifth star.

Unlike in the case of being part of a network, the Regent Warsaw hotel’s competitive advantage includes the local management team’s ability to make quick and flexible decisions concerning the hotel’s future. Thanks to this, new ideas aimed at attracting guests to the place have already been implemented. The program for families with children has been expanded and a broad wedding portfolio has been introduced along with winter conference and Christmas offerings.

The Regent Warsaw Hotel invites you all to spend Christmas with us and welcome the New Year at a Crystal Ball in the atmosphere of the roaring twenties.

'KPMG Forum' Publication 3/2014

KPMG FORUM is a Polish-English quarterly where experts from KPMG in Poland share their professional expertise in audit, taxation, as well as strategic, operational and legal advisory services.

Articles in this issue:

  • ‘Value of audit: Time for a change’ - Stacy Ligas
  • ‘Modern decision-making support tools’ – Krzysztof Radziwon, Radosław Kowalski
  • ‘Amendments to the act on taxes and local fees with respect to real property tax’ – Agata Małecka
  • ‘The strategic dimension of innovation’ – Jerzy Kalinowski, Kiejstut Żagun
  • ‘Private equity a way to grow business’ – Rafał Wiza, Piotr Grauer
  • ‘Online portals to become a priority for Polish non-life insurers’ – Piotr Kondratowicz
  • ‘How the form of business activity impacts taxation’ – Tomasz Kamiński
  • ‘Can a court fee be recovered in respect of appeals against decisions made by the National Chamber of Appeal?’– Mikołaj Zdyb.

Downloand now click HERE

KPMG FORUM is a Polish/English quarterly, printed on recycled paper, authored by KPMG experts from the Polish practice. Based on their professional experience, the authors explore the challenges and problems arising in their daily work. The magazine includes current publications that are valuable in terms of business and address the issues of audit and tax, as well as strategic, operational and legal advisory issues.

More information about KPMG FORUM

Materials received from KPMG Sp. z o.o.


Fulbright Days in Poznań - Independence and Innovation our Road to Development

On November 20 – 21, 2014 The Polish – U.S. Fulbright Commission in cooperation with the Poznan University of Technology and Adam Mickiewicz University in Poznan, is organizing a conference: Fulbright Days in Poznan- Independence and Innovation our Road to Development.

The aim of the event is to conclude the celebrations of the 55-th anniversary of the Fulbright Program in Poland and to present Poznan as an innovation hub and vibrant academic center. The conference is addressed to all interested in cooperation with American universities and academia circles as well as with American entrepreneurs. The program will include lectures, workshops and discussion panels. Successful business and science partnerships will be presented through specific case studies. Discussion panels will elaborate on the plans and needs of the Polish - American scientific exchange and academic cooperation . The workshops will focus on publishing in indexed journals as well as on personal presentation skills. The speakers include Fulbright’s current U.S. grantees, Polish and American alumni of the Program, graduates of the TOP 500 Innovators Program and leading business representatives . The conference will be conducted in English. The organizers do not provide simultaneous translation . For students and academia there is a special registration fee: of 49 PLN (students) and 99 PLN ( academia ).

Details of the event and the registration form can be found at :


Dentons advises on another major CEE cross-border deal in the logistics sector

Dentons’ Global Real Estate team acted as legal counsel to P3, the specialist owner, developer and manager of European logistics properties, on the acquisition of a portfolio of three logistics parks, two of which are located in Poland and one in Romania, from CA Immobilien Anlagen AG.  The portfolio totals 467,000 sq.m. of lettable area. The transaction also includes approximately 165 hectares of land for development, principally in Poland and Romania.

In Poland, the 177,000 sq.m. park at Blonie is situated in close proximity to the Warsaw city center, with links to the A2 motorway to Poznan and Berlin. Tenants include large traditional and online retailers like Bayer, IBM, Orange, Triumph and Allegro. The park also offers 17 ha. of development land. The second park is located near Piotrkow, South East of Lodz in central Poland. It provides 75,000 sq.m. of space and direct road links to Warsaw, Wroclaw and Katowice. The park is on a 120 ha. plot, offering scope for development.

The Bucharest Park is the largest of the three standing assets acquired by P3, consisting of 215,000 sq.m. of almost fully occupied space and 40 ha. of land for development. It is a major center for third-party logistics providers, due to its direct access to the A1 motorway heading westwards and the park’s freight handling facilities as part of the pan-European rail corridor linking Dresden and Nuremberg to Istanbul. The park’s location, on the city’s principal ring road and its close proximity to central Bucharest, attracts both e-commerce tenants as well as multinationals such as Carrefour.

Evan Z. Lazar, Co-Chairman of the Global Real Estate Group at Dentons added: “The logistics sector continues to be attractive in Central and Eastern Europe and this is yet another significant cross-border transaction on the warehouse market that Dentons advised on this year.” 


CIMA introducing an updated syllabus and assessment method for its professional qualification starting from January 2015

The Chartered Institute of Management Accountants is the world’s largest and leading professional body of management accountants, with over 218,000 members and students in 178 countries.

CIMA students and members work at the heart of business in industry, commerce, the public sector, and non-profit organisations. CIMA works closely with employers and sponsors leading-edge research, constantly updating its qualification, professional experience requirements and continuing professional development to ensure it remains the employers’ choice when recruiting financially-trained business leaders.

In 2011 CIMA and the American Institute of Certified Public Accountants (AICPA) launched a joint venture that gives management accountancy a far higher profile in the United States and promotes its development across the world. The step, which required ratification from the institutes’ respective governing bodies, combines the strength of the AICPA in North America with CIMA’s presence in Europe, Middle East, Africa, Asia and elsewhere.

What is new?

Our 2015 CIMA Professional Qualification Syllabus aims to address the ‘employability’ needs of businesses and people. The updated syllabus and assessment will help to produce competent and confident management accounting professionals who can guide and lead their organisations to sustainable success.

How employers benefit

We have created a powerful, globally consistent management accountancy standard that’s built on a deep understanding of the business needs of employers around the world. Employability is a core concept for everybody associated with CIMA.

There is increased flexibility for employees in taking their tests ‘on demand’. This will make it easier for employers to plan staff resources. There is also a more rigorous assessment of high-level competencies and an expectation of a fuller understanding of the topics that key employers have helped to define.

Why is it changing?

Our aim has been to make the syllabus more relevant to employers by ensuring the learning experience of candidates matches the real world of business. Through over 60 face-to-face meetings, roundtable discussions with over 200 organizations and a global online survey, we have worked closer than ever before with employers, members and students around the world to make sure we deliver the changes you need.

For more information please contact Daniel Idzkowski, Business Development Manager CEE, CIMA: This email address is being protected from spambots. You need JavaScript enabled to view it. or +48 784 008 603.

Prologis Agrees Development at Newly-Acquired Site at Prague Airport

Prologis Agrees Second Development at Newly-Acquired Site at Prague Airport - 31,000 Square Metre build-to-suit for ČERVA  

Prologis, Inc. (NYSE: PLD), the global leader in industrial real estate, announced that it has signed a lease agreement with ČERVA for a build-to-suit (BTS) development of 31,190 square metres at its recently-acquired Prologis Park Prague-Airport.

The new project for ČERVA, a wholesale personal protection equipment supplier, is the second at Prologis Park Prague-Airport, following a speculative logistics facility of 30,000 square metres. The building will feature modern cross-dock facilities, including an outside ramp for side loading.

“As we have been co-operating with Prologis for more than six years in this region, we are most confident in this expansion and in Prologis’ ability to deliver a quality and tailored facility to our specific requirements,” said Albert Giliaev, Chairman of ČERVA.

“We are delighted that ČERVA has chosen Prologis to build its new state-of-the-art distribution facility at our Prologis Park Prague-Airport,” said Martin Polák, Senior Vice President and Country Manager for the Czech Republic & Slovakia, Prologis. “We only recently purchased Prologis Park Prague-Airport, so to be already embarking on our second project confirms that the park's prime location makes it one of the most attractive hubs for commercial development in the area.”  

Prologis Park Prague-Airport is located by exit 7 on the R6 highway, just five minutes from Prague Václav Havel Airport, three minutes from the Prague Ring Road and 10 minutes from the D5 highway, which connects Prague with Pilsen and onto Germany.

Prologis owns and manages a portfolio of more than 3.7 million square metres of logistic and distribution space in Central & Eastern Europe (as of 30 June 2014).


GE Presents its 3rd Edition GE Innovation Barometer Report

On July 22, 2014 GE presented the 3rd edition of the GE Innovation Barometer for Poland.

The results of the report were discussed during a media meeting hosted by Beata Stelmach, GE’s CEO for Poland and the Baltics, with Paweł Poncyljusz, Member of the Management Board of Avio Polska, and Leszek Grabarczyk, Deputy Director of the National Centre for Research and Development.

For more details please visit GE's blog:

Attached please find the Polish language version of the report (results for Poland) – please use it in your internal/external communication.

The full version of the global survey can be found at:


CH2M HILL Announces Restructuring

CH2M HILL announced today it is taking steps to restructure the company to achieve important business objectives, including enhancing client service, improving efficiency, reducing risk, creating more opportunity for profitable growth, and providing more long-term value for its stockholders.

Company officials explained that over the past several years, the corporate structure and overhead of the company has grown in anticipation of a future state that did not materialize. In response, the company is right-sizing its overhead structure in all global operating units to align with the company’s strategy.

This restructuring aims to gain over $US100 million in operational efficiencies, and will include reducing the company’s total workforce by about 5% (about 1,200 people out of about 26,000 worldwide). The company is offering a Voluntary Retirement Program for eligible employees in the U.S.

In addition, other activities already underway include a renewed emphasis on client service and sales, stronger focus on core markets, services and geographies, a right-sized office footprint, a more disciplined approach to risk mitigation and project delivery, and a refreshed strategy.

“From time to time, good companies adjust their businesses to the needs of their clients, their markets, and their aspirations. We’ve done this ourselves many times over the years,” said CEO Jacqueline Hinman. “We’re staying true to our values, and channeling the courage and passion our founders had for building a unique company, run by its employees, into the work ahead so we can continue to deliver on our purpose: to lay the foundation for human progress by turning challenges into opportunities.”

Hinman added, “We continue to win significant new work and deliver excellent work for our clients every day. We intend to retain our industry-leading position and provide long-term, sustainable growth that benefits our clients, employees and stockholders.”



Air Products Licenses Its ICEFLY® Cryogenic Machining Technology to Advanced Research Systems

Air Products has licensed its proprietary cryogenic machining technology to Advanced Research Systems, Inc. (ARS), a leading manufacturer of industrial and research cryogenic equipment, including ARS’ globally renowned low-temperature cryostats. The technology license agreement gives ARS extensive rights to Air Products’ patented ICEFLY® Cryogenic Machining Technology, which has been applied broadly to the machining of metals and polymer materials.

Included in the agreement is the transfer of ICEFLY® cryogen delivery equipment design information and cryogenic machining know-how developed by Air Products. ICEFLY cryogen delivery equipment is compact, easily retrofitted to automated machine tools and machining centers, and can deliver either a consistent, saturated stream of liquid nitrogen for metals machining or a preset low-temperature gaseous nitrogen stream for polymer machining. When used for metals machining, the vaporization of liquid nitrogen targeted at the cutting tool provides efficient cooling during the cutting operation, thereby enhancing tool life, enabling increased cutting speeds and feeds, and displacing the use of conventional coolants. When used for polymer machining, especially for applications within the medical segment where the use of traditional coolants may be undesirable or unacceptable, the equipment can deliver a predetermined low-temperature gaseous nitrogen stream to minimize and, in many cases, eliminate burrs on the work piece.

“We are confident that ARS has the engineering and cryogenic equipment fabrication capabilities to successfully apply, offer, and support ICEFLY Cryogenic Machining Technology in the machining marketplace,” said Jeffrey Knopf, manager, Licensing and Technology Transfer at Air Products. “We also welcome the opportunity to provide ARS customers with our safe and reliable liquid nitrogen supply. As a global industrial gas supplier and recognized leader in cryogenic technology applications, Air Products has the experience and know-how to help ARS customers determine the most efficient and economical nitrogen supply option to meet their specific needs.”

“We are pleased to offer ICEFLY Cryogenic Machining Technology as a licensee of Air Products and look forward to building on their applications and equipment design experience,” said Ravi Bains, president of ARS. Bains adds, “Collaboration between a technology and operations-focused company such as Air Products and a mid-size specialty cryogenics business such as ARS is an effective model to commercialize the cryomachining solution to the machining segment.”

ARS will offer applications expertise and market ICEFLY cryogen delivery equipment under a newly formed subsidiary called Industrial Cryogenic Technologies (ICT), a company that offers both ICEFLY equipment and turnkey offerings to integrate the cryomachining solution.


Wardyński & Partners Launches ‘In Principle’, a new Legal and Business Portal

In July 2014, Wardyński & Parnters lanched a new press title in Poland – the portal ‘In Principle’ (, in which lawyers from the organization discuss the nuances of law affecting businesses.

The portal is designed for managers and lawyers. Readers of the portal will find articles devoted to various industries and fields of laws, such as litigation, M&A, intellectual property, new technologies, real estate, banking and finance, and employment law. The portal also includes practical guides to litigation and M&A in Poland, as well as publications devoted to specific legal issues such as virtual currencies, subcontracting in public procurement, and reprivatisation. Changes in law and the most interesting new rulings from Polish and EU courts are also discussed. New articles will appear on the site at least once per week.

According to Jan Ciećwierz, adwokat and editor-in-chief of the portal, ‘In Principle’ was created out of a merger of the firm’s Litigation Portal and Transactions Portal. Thus on the official launch date the portal already contains over 1,500 articles. We write with businesses in mind. Today they need more than just a fundamental grasp of the law. We always strive to write simply but with precision. We believe it is the task of lawyers not only to provide legal services, but also to share their knowledge.

The firm has also devoted great care to the design of the graphics of the portal, which allude to the finest literary traditions.

To mark the launch of the portal, the firm’s Wardyński+ app for iPad and Android (in Polish) has also been updated. The app now provides users access to the most recent issues of “In Principle,” the portal’s archives, the firm’s Yearbook, and other publications by Wardyński & Partners.


White & Case Advises Play Topco S.A. on PIK Toggle Transaction

Global law firm White & Case LLP has advised Play Topco S.A., the indirect shareholder of Polish mobile telecoms operator P4 Sp. Z o.o., on its €415 million senior PIK toggle notes offering.

P4 Sp. Z o.o., which trades as Play, is a portfolio company co-owned by Olympia Development and London based investment firm, Novator. The proceeds of the transaction have been distributed to shareholders.

"We are pleased to have advised Play Topco S.A. on this important and strategic transaction," said White & Case partner Ian Bagshaw. "As the appetite for good credits in Europe's bond markets remains high the successful completion of this transaction demonstrates that PIK toggle bonds remain a viable option for capital raising."

The cross-border team from White & Case which advised Play Topco S.A. was led by partners Jill Concannon, Rob Mathews and Ian Bagshaw (London) and the wider team included partner Marcin Studniarek, local partner Daniel Kaczorowski (Warsaw), counsel Prabhu Narasimhan (London) and associates Nicole Vella, James Greene, Nicola Sole, Robert Hutton, Nilima Shah, David Nisbet (London), Rafał Kamiński, Marta Osowska and Magdalena Zmyslowska (Warsaw).

This is the second transaction on which the Firm has supported Play and its affiliates this year, having advised on the organisation's inaugural €870 million and PLN130 million dual-tranche high yield bond issue and entry into a new super senior revolving credit facility in February.




AmCham.Pl Quarterly

AmCham.Pl Quarterly 

AmCham.Pl Quarterly is the official publication of the American Chamber of Commerce in Poland. It is a voice for foreign investors and the business community in Poland, and it stri...

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