Tag Archives: POLAND

Polish government to pass law that will allow it more control over the Internet content and legitimize blocking access to certain websites

On February 1, 2021, a new draft act on freedom of speech on social media platforms appeared on the Polish Ministry of Justice website. Works on the draft act, originally announced by the ministry in December last year, gained momentum in mid-January amid Twitter and Facebook blocking Donald Trump’s accounts, which the Polish government viewed … Continue Reading

Poland: Websites Under Competition Authority’s Watchful Eye

Toward the end of September 2020, a draft amendment of the Act on Competition and Consumer Protection (the Draft) was up for public consultation in Poland. The provisions of the Draft are currently being agreed upon. The objective is to incorporate into the Polish legal framework Regulation (EU) 2017/2394 of the European Parliament and of … Continue Reading

Stealth Civil Procedure Revolution in Poland – Online Hearings and Email Service Coming Soon

Much attention has been paid recently to the latest government-sponsored, draft civil procedure amendment, which, piggybacking on the e-bidding solutions regulations, proposes amendments to the COVID-19 acts introducing temporary solutions regarding, among others, the functioning of civil courts. The draft has just been submitted to the Sejm. However, it must have been intensely debated previously, … Continue Reading

Commercial Law Revolution in Poland – New Holding Law and Enhanced Corporate Oversight Mechanisms

The need to regulate the so-called “holding law” within the commercial law has raised much controversy for some time now. Unlike certain foreign legal frameworks, the Polish law had been functioning with merely fragmentary regulations in that regard – legal scholars had been debating the purpose of introducing such solutions to the Polish Commercial Companies … Continue Reading

Poland: Supreme Court Ruling on Blank Promissory Note Order for Payment Issued Against Consumer

On 28 October 2020, the Supreme Court’s Emergency Control and Public Matters Chamber acknowledged an emergency complaint lodged by the Prosecutor General and revoked an order for payment issued against a consumer under a blank promissory note securing repayment of a bank loan. The Supreme Court ruled that the order for payment, issued by the … Continue Reading

Amendment to the Polish Building Act: Simplification and Expedition of Procedures

On September 19, 2020, most provisions of an extensive amendment to the Construction Law took effect. The amendment introduces very important changes from the investors’ point of view, both those considering and already pursuing their investments, and those whose projects have long been completed. The new regulations were introduced via the Act of February 2020 … Continue Reading

Poland’s Simplified Restructuring Proceeding Takes Effect

As previewed in our prior post, Poland’s simplified restructuring proceeding (uproszczone postępowanie restrukturyzacyjne) is now in effect. The enabling legislation – with only minor changes from the description in our prior post affecting such restructurings – was finally adopted on 19 June 2020, signed into law on 23 June 2020 and took effect the same … Continue Reading

Polish Government Adopts Stricter Control over Private Investments

Updated on June 23, 2020 Like various other EU member states (e.g. Hungary, Czechia), Poland has finally adopted a new act intended to screen foreign direct investments in Polish companies. The new law (the “Amendment”) amends the Act on Control of Certain Investments of 2015 (more on this available here), but it will also materially extend … Continue Reading

COVID-19: Poland’s Parliament Nears Passage of Extraordinary Debtor Restructuring Relief

Poland’s Parliament (the Sejm, the lower House of Parliament) is close to passage of an extraordinary debtor restructuring relief law as part of its fourth COVID-19 crisis legislation. The measure, referred to as Shield Law 4.0 (Tarcza 4.0) would: Create a “simplified restructuring proceeding” that would permit any debtor to commence this proceeding if faced … Continue Reading

Poland: Offshore Wind Bill published by the Government on 15 January 2020

Part 1: Publication of the Offshore Wind Bill and Next Steps After many months of deliberation, on 15 January 2020, the Ministry of State Assets published the long-awaited Offshore Wind Bill, the publication of which marks the beginning of the legislative process entailing a 30-day stakeholder feedback period, which is due to end on 14 … Continue Reading

Polish Government Working on Introduction of Shareholders’ Liability

Will the concept of “piercing the corporate veil” be accepted in Polish law? Is the Polish lawmaker ready to break one of the major rules of the Polish companies’ law? The Polish government is working on a law introducing shareholders’ liability to the creditors of a company. We have already touched upon the issue of … Continue Reading

Transition Plan for Poland’s WIBOR Benchmark to a Waterfall Methodology Is Announced

WIBOR (Warsaw Interbank Offered Rate) is one of five critical financial benchmarks in the European Union (Commission Implementing Regulation (EU) 2019/482). WIBOR is the interest rate benchmark for the vast majority of złoty-denominated commercial loans, more than 98% of Polish mortgage loans, 26% of the total nominal value of Polish bonds, and € 366 billion … Continue Reading

Employees go voting in CEE – what you need to know as HR professional

Between 23 and 26 May 2019, more than 400 million European citizens will have the right to vote in the European Parliament elections. This is where the similarities between the CEE countries seem to end. Voters in the Czech Republic will be voting on 24 and 25 May 2019, in Slovak Republic on 25 May … Continue Reading

PLN 1 Million Fine for GDPR Violation

On March 26, 2019, the Polish Data Protection regulator (Urząd Ochrony Danych Osobowych – UODO) announced the first administrative fine imposed on a Warsaw-based company for failure to meet the informational obligation toward the data subjects whose data it processed, in violation of article 14 of the General Data Protection Regulation (GDPR). The fined company … Continue Reading

Poland’s Mega-investment Project Doubles in Size

The Polish government has announced details of the high-speed rail network to be built in connection with its Central Communications Port (CCP) project. The PLN 40 billion (€9.25 billion) planned rail network is even more ambitious than the PLN 35 billion (€8.10 billion) airport project. With a target date of 2027, the CCP involves: Construction … 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

Plans for Poland’s Mega-Airport Progress Rapidly

The Polish government is rapidly moving forward with plans for Poland’s new mega-airport. Proposed implementing legislation has been prepared and circulated for initial comments, an extensive concept document has been prepared, the office of the project’s plenipotentiary at the Ministry of Infrastructure has taken shape, an advisory council for the project has been appointed, and … Continue Reading

EU Action Plan for the European FinTech Sector and its Polish Context

On 8 March 2018, the European Commission (EC) published its long-awaited new FinTech Action Plan. The EC understands FinTech to be technology-enabled innovation in financial services, and the strategy covers developments related to new technologies which are changing the financial industry and the way consumers and firms access services. At the same time, the action … Continue Reading
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