On 14 December 2022 the lower house, Sejm, passed a bill on family foundations. The law was then sent to the Senate, where amendments were made to it, now pending before the Sejm. Regardless of these legislative works, it is expected that the law will come into force 3 months after its promulgation. It should therefore be possible to establish a family foundation as early as the first half of 2023. 

Schoenherr and Norton Rose Fulbright, working with Davis Polk & Wardwell and Ashurst, have advised JP Morgan Chase and other financing parties on the refinancing of Diebold Nixdorf debt and the provision of USD 400 million in new capital. Sullivan & Cromwell and K2Legal Korbonski i Partnerzy reportedly advised the borrower.

Former UPC Polska Board Member and Chief Legal, Regulatory, Corporate Affairs Officer Dominika Niewiadomska-Siniecka has joined VeloBank as CEO Advisor, Proxy, and Managing Director.

Domanski Zakrzewski Palinka has advised Polregio on the preparation of framework agreements and tender documentation for the supply of 200 trains. 

As of 1 January 2023, new conditions govern aid in the Polish Investment Zone (PIZ), as indicated in the new regulation implementing the Act on supporting new investments (the new PIZ regulation).

Wardynski & Partners has advised CNS Pharmaceuticals on negotiating a contract to supply Berubicin to the Pomeranian Medical University.

Allen & Overy has advised FLE on its acquisition of the Kopernik Office Buildings in Warsaw from the DWS Group. Linklaters advised the seller.

Cytowski & Partners has advised Polish start-up Eleven Labs on its USD 2 million pre-seed financing round with Credo Ventures, Concept Ventures, and angel investors from the UK and CEE.

Dentons has successfully represented the interests of Porsche Inter Auto Polska in multiple cases concerning excise taxation on intra-community acquisitions of passenger cars before the Provincial Administrative Court in Warsaw and the Supreme Administrative Court.

SSK&W has advised the shareholders of Milestone Dom Wdrozeniowy on the sale of all shares in the company to BPX. Chudzikowski advised BPX.

Under the Polish Medical Devices Act of 7 April 2022 (the MDA), surveillance over medical device advertising is exercised in principle by the President of the Office for Registration of Medicinal Products, Medical Devices and Biocidal Products (the URPL), and in certain cases, by the Minister of Health or the Chief Sanitary Inspector.

Norton Rose Fulbright has advised a banking syndicate on the PLN 330 million financing for Polish photovoltaic systems manufacturer and equipment distributor Corab with the option of an incremental facility up to a total of PLN 500 million.

Deloitte Legal has advised Scope Fluidics on the transfer of its listing from NewConnect to the main market of the Warsaw Stock Exchange.

Maciej Antoniak, Radoslaw Cebelinski, Tomasz Kaczmarek, and Rafal Wozniak were promoted to International Partners while Wiktoria Rogaska and Marta Wysokinska made Local Partners at DWF.

WKB has advised the Zeiss Group on its acquisition of Lenso. Baker Tilly Legal Poland advised Lenso.

Contributed by Dentons.

 On 20 December 2022, the Official Journal of the Republic of Poland published the rather awkwardly titled Act of 15 December 2022 on Special Protection of Certain Gas Fuel Consumers in 2023 Due to the Gas Market Situation (Gas Prices Capping Act). In this legal alert, we’ll look at the main rules intended to protect eligible customers against spikes in gas prices, payment of compensation to eligible suppliers, as well as amendments to the Energy Law (EL) that are likely to affect the market for companies producing energy from renewable sources (RES Businesses).

CMS has advised the EBRD on a EUR 10.8 million loan to Serbian machine manufacturer Stax Technologies.