Employment relationships require special protection both at European and national levels. Although largely enshrined in European legislation, those protections remain subject to modifications to ensure efficiency and security of the employment process.
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.
Intellectual Property protection in its modern sense is considered to be quite young in Russia. Although Russia is not far behind world standards for protection and enforcement of Intellectual Property, major changes took place in Russia in 2008. Almost ten years ago the Fourth Chapter of the Russian Civil Code incorporating various Intellectual Property-related rules came into effect. Of course, this area of law is still changing, leading to new amendments, improvement proposals, and legal discussions.
With ever-increasing spending on research and development and innovation, patents and patent applications are becoming an increasingly important part of business throughout the world, including Poland. Patentable inventions as well as confidential technological know-how now constitute key assets of numerous businesses operating across all sectors of the Polish market.
CMS has advised REICO, the manager of the largest and oldest Czech open-ended real estate fund, on the purchase of the Proximo I office building in Warsaw from Proximo I sp. z o.o. Sp. K., part of the Hines Russia & Poland fund. In addition to CMS, REICO was advised by international advisory firms CBRE, TPA, and DIL, while the seller was represented by Cushman & Wakefield, Crido, and Dentons.
CMS has advised Austria's BECOM Group on its merger with IVP Group Germany GmbH. The Dr. Stilz Behrens & Partner firm advised IVP Group Germany on the deal.
CMS Hungary has advised by Ilford Holding Kft. and Invitel Technocom Tavkozlesi Kft. — controlled by the China Central and Eastern Europe Investment Co-operation Fund, advised by CEE Equity Partners — on its July 21, 2017 sale of 99.99% of the share capital and voting rights of Hungarian telecommunications operator Invitel Tavkozlesi Zrt. to DIGI Tavkozlesi es Szolgaltato Kft., the Hungarian subsidiary of Digi Communications N.V. PeliFilip advised the buyers on the deal.
Gessel and Wierzbowski Eversheds Sutherland have advised Enterprise Investors on the acquisition by the Polish Enterprise Fund VII and the President of the Management Board of 100% of shares in Janton, Poland’s leading producer of alcoholic beverages based on grape and fruit wines. The sellers were advised by CMS on the deal, which remains conditional on antimonopoly approval. Financial details were not disclosed.
Acting for borrowers RES Techonogy JSCo and ASM-BG Investicii JSCo., both jointly owned by the Korean South East Energy Company (a subsidiary of KEPCO) and SDN Company Ltd., CMS Cameron McKenna Nabarro Olswang has advised on the largest renewable energy refinancing in Bulgaria to date with the completion of UniCredit’s EUR 62 million facility. CMS Reich Rohrwig Hainz advised UniCredit on the refinancing.
CMS has advised Polish company Tele-Fonika Kable S.A. on its acquisition of JDR Cable Systems (Holdings) Ltd. — a supplier of subsea umbilicals and power cables to the offshore energy industry, headquartered in the UK — from majority owner Vision Capital. Macfarlanes served as legal counsel to the sellers, with Mills & Reeve acting as legal counsel to the JDR management team. JP Morgan and Societe Generale provided financial advice to TFKable, and Simmons & Company International provided financial advice to JDR.