Archives: Transactions

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Debt financing in Poland –New Developments

The Polish Parliament has recently adopted a new law implementing certain changes to the Polish financial system (“the Act”).[1] The aim is to strengthen supervision over capital markets and improve protection of investors, but it will significantly impact the timing and cost of raising capital through debt securities offered outside the public market. The new … Continue Reading

High Court in Prague sheds some light over the definition of a significant part of an enterprise 

Like any other major change of legislation, the recodification of Czech private law in 2014 has raised a long list of interpretation issues. At the end of August 2018, the High Court in Prague outlined (since the decision has not yet been confirmed by the Supreme Court) an interpretation with respect to one of the … Continue Reading

Poland’s New Split Payment Mechanism Affects Financing and Factoring Transactions

On July 1, 2018 the so-called split payment mechanism was introduced into the Polish legal system. Split payment refers to the splitting of invoice payments in B2B relations between a supplier’s current bank account and a VAT account, which is automatically opened by banks as an account directly linked to current accounts. Funds constituting the … Continue Reading

The Tale of Standardization: The Use of LMA Standard Forms in CEE

If there is a holy book for finance lawyers, at least on this side of the Atlantic Ocean, it would be the Loan Market Association (LMA) standard form. Aimed to improve liquidity and efficiency in the syndicated loan markets in EMEA, the recommended standard forms developed by the LMA are here to stay. Although intended … Continue Reading
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