Category: Poland

Former DLA Piper Counsel Magdalena Zablocka-Foulkes has joined Orlen as its new General Counsel.

Before the move, Zablocka-Foulkes spent over three years with DLA Piper as a Counsel.

Before that, she spent two years with Bird & Bird as a Counsel and 11 years with Domanski Zakrzewski Palinka as a Senior Associate, between 2008 and 2019. Earlier still, she spent three years as an Associate with Baker McKenzie, more than eight years as a Councillor with the Warsaw – Bielany Municipal Council, and two years as the Deputy Director of the department responsible for legislative issues of Masovian Voivodeship Sejmik.

Originally reported by CEE In-House Matters.

MFW Fialek has advised the V4C private equity fund on collateral provided for the purpose of financing from mBank. Additionally, the firm advised V4C on raising capital from IFC. Clifford Chance, working with Van Campen Liem, advised mBank.

According to Clifford Chance, the proceeds will be used to optimize the fund’s liquidity and investment strategies.

The MFW Fialek team included Partner Miroslaw Fialek and Associate Wojciech Lichterowicz.

The Clifford Chance team included Warsaw-based Partner Andrzej Stosio, Counsel Mateusz Chrusciak, and Associates Joanna Korycinska and Gabriela Kobak as well as further team members in Luxembourg.

Norton Rose Fulbright has advised Nedbank Limited on the refinancing of EPP Group’s retail real estate portfolio, focusing on the Power Park Olsztyn shopping center in Olsztyn, Poland. Dentons reportedly advised EPP. CMS reportedly advised mBank as the existing lender.

Nedbank Group is a financial services provider in South Africa, offering wholesale and retail banking services as well as insurance, asset management, and wealth management.

EPP Group is the largest asset manager of retail real estate located in Poland in terms of gross leasable area.

The Norton Rose team included Warsaw-based Partner Tomasz Rogalski, Counsel Marta Kawecka, Senior Associate Patrycja Pakla, and Associates Jakub Wiatrzyk and Magdalena Olechniewicz-Blocher as well as further team members in Johannesburg.

Editor’s Note: After this article was published, CMS confirmed its role on the deal. The team included Partner Jakub Podkowa and Associate Krzysztof Schulz.

Subsequently, Dentons also confirmed its involvement to CEE Legal Matters. The firm’s team included Partner Piotr Nerwinski, Senior Associate Lukasz Blaszczak, and Associate Jakub Olejniczak.

MFW Fialek announced that Dom Whisky Group’s sale to United Beverages (as reported by CEE Legal Matters on September 28, 2023) has now closed.

As previously reported, MFW Fialek has advised the shareholders of Dom Whisky Group, including Premium Brands Spirits, CBMAX Spirits, and Premium Brands, on the sale to United Beverages. Reportedly MJH Moskwa, Jarmul, Haladyj, and Partners advised United Beverages.

According to MFW Fialek, the activities of Dom Whisky Group’s companies consist of retail and wholesale sales of alcoholic and non-alcoholic beverages conducted in specialized stationary stores and via an online spirits store.

The MFK Fialek team included Partner Miroslaw Fialek, Senior Associate Mariusz Domagala, Associates Mateusz Wieckowski, Jakub Wilk, and Mateusz Trzewik, and Junior Associates Natalia Grzegorzewska, Franciszek Furmaniak, and Adrianna Kloda-Szczesna.

Greenberg Traurig has advised Axpo Polska on a power purchase agreement for the offtake of energy from RWE Renewables Poland.

According to Greenberg Traurig, “under the terms of the agreement, Axpo Poland will purchase all the electricity generated by RWE’s plants in Poland in 2024 and 2025. The plants have a total installed capacity of 628 megawatts and produce around 1,500 gigawatt-hours of electricity per year.”

Earlier in 2024, Greenberg Traurig advised Axpo Polska on PPA with DIF Capital Partners (as reported by CEE Legal Matters on March 14, 2024).

The Greenberg Traurig team included Partner Konrad Kosicki.

Greenberg Traurig could not provide additional information on the matter.

Norton Rose Fulbright has advised Panattoni on the construction of a new built-to-own facility in Lodz, to be developed for E.G.O.-Group. Schoenherr reportedly advised E.G.O.-Group.

Panattoni is an industrial property developer.

As reported by CEE Real Estate Matters, E.G.O. produces components for stoves, washing machines, dryers, refrigerators, and many other household appliances and commercial machines. The Polish company has been operating since 2005 and it has a large household-appliance-components factory in Lodz. That complex is to be extended with a production plant on Mahoniowa Street in the city.

The Norton Rose Fulbright team in Warsaw included Partner Magdalena Zienkiewicz and Associate Karol Truszkowski.

Rymarz Zdort Maruta has advised AFI Europe on the purchase of land in Wroclaw from Develia.

AFI Europe operates office, commercial, and residential projects in Central and Eastern Europe.

Develia is a group of development companies that are implementing residential and commercial investments in Poland.

According to Rymarz Zdort Maruta, the land in question has an area of 5,500 square meters, was sold for PLN 50.5 million, and is to be developed into a 13-floor office building. 

The Rymarz Zdort Maruta team included Partner Piotr Fedorowicz, Senior Associate Tomasz Karkowski, and Associates Karol Wojtkowski and Marcin Banak.

Rymarz Zdort Maruta could not provide additional information on the matter.

Jasinski has advised Euro Styl on a public-private partnership project in Gdansk between its subsidiary GGI Dolne Miasto and the City of Gdansk.

According to Jasinski, the project in question is a development in the area of Dolne Miasto.

The Jasinski team included Partner Mateusz Jasinski.

Jasinski did not respond to our inquiry on the matter.

Clifford Chance has advised the lenders on the debt refinancing and financing of Agora’s acquisition of a 49% stake in Eurozet. Greenberg Traurig advised Agora.

Agora is a Polish media corporation. Eurozet is a media group based in Poland that produces and broadcasts radio programming, sells spot advertising, brokers activities for stations, and develops and manages online services. 

The acquisition itself was finalized in June 2024 (as reported by CEE Legal Matters on June 24, 2024).

The Clifford Chance team included Partner Andrzej Stosio, Counsel Kacper Bardan, Senior Associate Wojciech Wator, and Associates Artur Gladysz and Oskar Ratajczak.

The Greenberg Traurig team included Partners Rafal Baranowski and Robert Gago, Local Partner Filip Kijowski, and Senior Associate Tomasz Denko.

The Digital Operational Resilience Act (DORA), along with the NIS2 directive, is a crucial piece of European legislation aimed at strengthening cybersecurity within the EU. While NIS2 focuses on a broader range of critical sectors, DORA specifically targets the financial sector, establishing a robust framework to ensure that regulated financial entities can withstand, respond to and recover from disruptions and threats related to information and communications technology (ICT). DORA complements other EU regulatory frameworks by introducing standardised requirements for digital operational resilience, which financial entities must incorporate into their risk management strategies by its effective date of 17 January 2025.

NIS2 Directive

In contrast to DORA, the second Network and Information Security Directive (NIS2) provides a harmonised framework for overseeing and supervising ICT risk management across various critical sectors.

Who must comply?

To enhance cybersecurity within the EU’s financial system, European legislators have mandated that a wide range of financial institutions fall under DORA’s scope. These institutions are required to implement the rules and standards set forth by the regulation, with varying levels of obligation. Entities subject to DORA include:

• credit institutions;
• investment firms;
• insurance and reinsurance undertakings;
• payment and electronic money institutions;
• alternative investment fund managers;
• crypto-asset service providers;
• crowdfunding service providers; and
• ICT third-party service providers.

These entities are considered vital to the infrastructure and security of the EU’s financial system and are thus expected to maintain a high level of digital operational resilience to protect financial markets and their participants.

DORA compliance requirements

Entities subject to DORA must adhere to a range of technical, organisational and legal requirements, including:

• ICT risk management;
• reporting cybersecurity incidents to competent authorities and establishing communication channels;
• regular testing of digital operational resilience;
• ongoing training for employees and managers; and
• managing risks associated with third-party service providers, including establishing key contractual provisions.

In certain cases, financial institutions may also engage in information-sharing arrangements related to cyberthreat intelligence. These arrangements aim to enhance security and cyberthreat awareness across the EU by sharing experiences and practical solutions.

Next steps

As the DORA compliance deadline approaches, all potentially affected institutions should evaluate whether they are subject to the new rules and to what extent. The regulation imposes significant obligations, requiring considerable time and resources to achieve compliance. It is advisable to allocate adequate resources and seek both technical and legal advisory support in a timely manner.

Reference

Regulation (EU) 2022/2554 of the European Parliament and of the Council of 14 December 2022 on digital operational resilience for the financial sector.

By Katarzyna Szczudlik, Partner, and Pawel Baran, Senior Attorney at Law, Schoenherr