In The Corner Office, we invite Senior and Managing Partners at law firms from across the region to share information about their careers, management styles, and strategies. For this issue, we asked them to describe their least favorite part of their jobs.
CMS has advised Axel Johnson International, a privately owned Swedish industrial group that is part of Axel Johnson, a prominent Nordic trading group, on its acquisition of a majority stake in the IOW Group, which has a presence in Poland, Bulgaria, the Czech Republic, and the Baltic countries. The sellers were reportedly advised by DLA Piper.
CMS is advising the chipboard producer Egger on construction of a factory in Poland — its first investment in the country.
CMS has advised SEGRO, owner of SEGRO Logistics Park Strykow, on the lease of 30,000 square meters of warehouse space.
CMS has advised PKO BP on the new issue of subordinated bonds for the amount of PLN 1.7 billion.
CMS has advised investment companies Miton, Enern, and In-Bridge, on their sale of Slevomat Group, a company holding deal websites in the Czech Republic and Slovakia, to UK-based travel company Secret Escapes.
CMS Budapest has advised the Belgian real estate developer Atenor on the acquisition of a 19,000 square meter plot of land on the main road corridor in Budapest connecting the city center to the airport.
CMS has advised private equity fund Resource Partners, a longstanding client of the firm, on its sale of Delicpol, a manufacturer of cookies sold under private labels, to Continental Bakeries, a manufacturer of sweets owned by Goldman Sachs Merchant Baking Division and Silverfern, a private equity fund. Noerr Warsaw advised the buyers on the deal. Closing of the transaction is contingent on the approval of market regulators.
Anna Cudna-Wagner has been promoted to Partner at CMS in Poland.
CMS has advised Indian automotive components manufacturer Pricol Ltd. on its acquisition of PMP PAL International s.r.o., a Czech company which manufactures automotive windscreen wiper parts, from PMP Auto Components (part of the Ashok Piramal Group). The sellers were advised by India's DSK Legal.
A number of changes to the Labor Code expected to come into force on July 1, 2017, will not do so. These amendments to the Code – which were submitted to the President of the Parliament by the head of the Economic Committee – would primarily have affected work-time scheduling provisions, making the Labor Code more sensitive to the needs of the improving economy and changing labor market. According to Parliament, the amendments would have significantly improved production for businesses over a period of six to seven years.
As the first half of 2017 draws to an end, dispute resolution in Poland continues to face dynamic changes. This is due to numerous pieces of legislation being implemented as well as certain policy issues of the ruling party. We focus in this article on several trends or changes that our clients are struggling with or which might affect businesses in the foreseeable future.
On June 20, 2017, CEELM reported that mBank sold its majority shares in housing project company mLocum to another housing company called Archicom S.A. in Poland. We reached out to Monika Powroznik, Deputy Director for mBank, to enquire about the cooperation with her external counsel on this specific sale.