Category: Poland

Dentons has successfully represented DZ Polska in three cases before the Polish Supreme Court.

The first case, brought on appeal in cassation, involved the effects of an attachment of shares enforced after the shares were disposed of by the debtor. In its judgment, the Supreme Court held that an attachment of shares in the course of execution proceedings remains effective, including vis-a-vis the company, even if the shares had been earlier disposed of by the debtor, unless the seller or purchaser notifies the company of the disposal prior to attachment.

In the second case, the Supreme Court dealt with an action to set aside a fraudulent conveyance. The court accepted Denton’s argument that the proceedings were invalid and reversed the judgments of both courts below and remanded the case to trial court for reconsideration.

In the third case, which also involved an action to set aside, the Supreme Court allowed a Paulian action filed against a “fourth” person to be used to contest a transaction between the debtor and a third party. The Supreme Court ruled that the knowledge of the harmed party and its actions vis-a-vis the debtor (e.g. obtaining and then enforcing a security interest) did not affect the finding of debtor’s intent to prejudice the future creditor.

The client, which formerly did business as DZ Bank Polska, was assisted in all three cases by Dentons Partner Anna Pukszto, supported by Attorney Monika Olesinska-Tyczynska, and Associate Magdalena Inglot.

The Dentons’ Real Estate team in Warsaw has advised the Cromwell Property Group on the sale of the Warsaw Corporate Center office building to Raiffeisen Immobilien Kapitalanlage-Gesellschaft. The buyer was advised by Bird & Bird. 

Developed in 1997, the Warsaw Corporate Center is a nine-story office building offering over 8,600 square meters of leasable space. According to Dentons, “in the two years since it acquired the building, “Cromwell significantly refurbished the building and raised its occupancy rate.” Current tenants include Danske Bank and mBank.

The transaction was led by Dentons Counsel Piotr Staniszewski, supported by Associate Joanna Poplawska.

The Bird & Bird team consisted of Counsel Marcin Swierzewski, Senior Associate Michal Prochwicz, Associate Edyta Deszczka, and Junior Associate Adam Lukaszewski. 

Dentons Poland is announcing that Partner Anna Maria Pukszto has become co-head of its Litigation and Arbitration Team with previously solo head Partner Wojciech Kozlowski.

Pukszto, who also continues to manage the firm’s Restructuring, Insolvency and Bankruptcy Team, has been with Dentons (formerly Salans) since 2000. Her focus is on representing financial institutions in disputes over products or relating to their liability to borrowers or investors and in challenging transactions intended to defraud creditors. She also handles litigation and arbitration arising out of commercial contracts and investment agreements. Her other practice area is restructuring and insolvency, including cross-border bankruptcies, and sales of insolvent debtors’ assets.

“Anna’s appointment as co-head of Litigation and Arbitration is an acknowledgment of her managerial and business skills,” said Dentons Poland Managing Partner Arkadiusz Krasnodębski. “She is an esteemed lawyer and her skills and experience have played a huge role in the development of our litigation and arbitration practice which is currently among the largest and highest-ranked practices in Poland.”

“I’m happy to join forces with Anna to manage a large team of ambitious litigators who cope with cases that are difficult on their merits, often precedential and without cut-and-dry solutions,” added Wojciech Kozlowski. “I’m confident that this is a change that will also have a practical impact on all our clients who appreciate expertise and pragmatic approaches.”

Act BSWW has advised Fortuna Online Zaklady Bukmacherskie sp. z o.o. on an internal merger of its subsidiaries.

Fortuna Online offers betting services, allowing its clients to predict the outcome of sports, social and political events. The company belongs to the Fortuna Entertainment Group, which operates in Poland, the Czech Republic, Slovakia, Croatia, and Romania.

“Fortuna is the leader of the Polish sports betting industry,” says BSWW Partner Marta Kosiedowska. “We are happy to have been given the opportunity to support our client in consolidation of the companies belonging to its group. We believe that this is a good decision from the profitability and competitiveness point of view,” 

The Warsaw-based Act BSWW team included Partner Marta Kosiedowska and Trainee Marlena Suchonos.

CMS has advised ZFP Investments on its acquisition of the Kotlarska 11 office project in Krakow. The seller reportedly was represented by DLA Piper. 

The Kotlarska 11 office building was finished at the end of 2017 by Austria-based UBM Development AG. According to CMS, “it brings 11,000 square meters of modern A-class office space to the rapidly growing Krakow office market.”

The CMS team was led by Counsel Katarzyna Debinska-Pietrzyk and includes lawyers Magdalena Lagodzinska and Izabela Kultys.

Bird & Bird’s Warsaw office has supported Energa S.A. on the planned hybrid bond issuance by Energa-Operator S.A..

The financing obtained from the issuance, which is worth over PLN 1 billion, will be used to implement an investment program in 2017-2019, covering the electricity distribution network’s modernization and extension of infrastructure in Poland, with a total estimated value of approximated EUR 814 million.

Bird & Bird’s advice included drafting the subscription agreement, purchase proposal, and bond issuance terms for the two planned tranches. The documentation was completed in December 2017.

Bird & Bird’s team included Counsel Katarzyna Piechocka, Head of Financing Transactions Desk Maciej Georg, and Junior Associate Anna Fujak, all working under the supervision of Managing Partner Slawomir Szepietowski.

Dentons has successfully represented Stadler Poland, a manufacturer of rolling stocks, in two public tender procedures with a combined value of more than EUR 600 million.

The first contract involved the delivery of 50 trams manufactured in Poland to the Public Transport Company (MPK) in Krakow. Following 13 months of legal disputes, Stadler’s offer, which was originally in second place, was declared to be the most favorable bid and was awarded a contract worth PLN 363.5 million (approximately EUR 87 million).

According to Dentons, Stadler’s contract with MPK “will strengthen the position of Solaris Tram — the joint venture between Stadler and Solaris Bus & Coach — on the Polish light rolling stock market, which appears to offer promising prospects.” The joint venture was created last year, and Dentons also assisted Stadler in that transaction.

In the second tender procedure, Stadler won a framework contract worth PLN 2.2 billion (approximately EUR 527 million) to supply 71 modern regional trains for Koleje Mazowieckie (Mazovia Region Railways Co.) — which Dentons describes as “the largest contract in Poland for the delivery of rolling stock.” In addition, the firm reports, “the trains to be provided are the newest and most energy-efficient FLIRT trains manufactured in the factory in Siedlce.” Stadler’s offer was challenged by two competitors in the tender. Both appeals were dismissed, and the contract was awarded to Stadler Poland.

The two projects were handled by the Dentons Public Procurement team, which is headed by Partner Aldona Kowalczyk and includes Counsel Michal Drozdowicz and Associates Agnieszka Gilowska and Patrycja Grodzka.

Former Weil Partner Rafal Zwierz has left that firm to join CMS, where he will be responsible for the development of the Capital Markets practice.

Zwierz has spent his 17-year legal career with Weil, Gotshal & Manges in New York (for one year), London (for one and a half years), and, since 2003, in Warsaw. He is qualified in Poland, the United States, and the UK. He graduated from the Faculty of Law of Warsaw University in 1998, and obtained an LL.M. from Harvard Law School in 2000.

According to CMS, “Zwierz’s experience encompasses capital markets and transaction advisory in the field of M&A, with a particular emphasis on clients operating in the energy sector. He has advised on acquisitions by PKN ORLEN, Petrolinvest, CEZ and transactions related to ownership changes, including of Sfinks Polska, Ruch and Farutex. He also took part in restructuring projects.”

In the 1980s and 1990s Zwierz was also a television and film actor. He made his screen debut at the age of 11 in 1984 in the film The House of Fools, and had lead roles in, among others, the films The Mystery of the Forest (1991) and Skarga (1991), and on the TV series On the Fifth Side of the World (1992). His most recent appearance was in the TV series Spellbinder: Land of the Dragon Lord in 1997. In 1997 he quit acting to begin his legal career.

KKLW has announced that Senior Partner Michal Kurzynski has become the firm’s Managing Partner, and that firm lawyer Wiktor Wesolowski has been promoted to Partner.

Kurzynski was one of the founding partners of KKLW in 2011. Before that he spent three years as Partner at the Polish office of Chadbourne & Parke, and six years as Partner at Wierzbowski Eversheds. He also worked for six years at Baker & McKenzie, after spending two years with Dickinson, Wright, Moon, Van Dusen & Freeman. According to KKLW, Kurzynski “advises on mergers and acquisitions, on company and commercial law, as well as on infrastructure projects.” The firm describes him as having “unique experience in providing legal assistance for international sporting events and sports infrastructure investments.”

“KKLW law firm is a group of ambitious lawyers that compete with the largest law firms, as we all have similar knowledge and experience,” Kurzynski said. “My major goal will be further development of KKLW.”

Wesolowski, according to KKLW, “advises and represents clients in litigation proceedings, as well as in judicial-administrative, administrative, and enforcement proceedings. He also advises on international commercial and investment arbitration. As a partner he will be responsible for the development of the litigation practice.”

Wesolowski has spent his entire professional career at KKLW, joining the firm as an associate immediately after graduating from the University of Warsaw in 2011.

Dentons has supported Polish power contractor Rafako in a tender procedure and a contract to build two coal-fired power units on the Indonesian island of Lombok. The contract is worth approximately EUR 200 million.

Rafaka – part of a consortium led by Indonesia-based PT. Rekayasa Industri – was selected as the winner of the tender. The contract calls for the completion of Unit I of the power plant within 36 months and Unit II within 39 months. According to the consortium agreement signed in December 29, 2017, Rafako will receive approximately 35 percent of the contract value.

Rafako is a general contractor of power units. The company manufactures steam and water boilers used in power generation and environmental protection facilities.

Dentons’ assistance to Rafako in the contract award procedure included reviewing the contract documentation and supporting the company’s negotiations with the contracting authority. The firm’s team was led by Warsaw-based Partner Arkadiusz Krasnodebski and Singapore-based Partner Tan Joo Thye in Singapore. Key members of the team also included Warsaw-based Partner Tomasz Janas and Counsels Michal Motylewski and Wojciech Boguslawski, and Singapore-based Partner Jonathan Guwe and Associate Ron Oong.