Climate change-related risks have climbed to the top of the agenda of various stakeholders across the globe: governments, international organizations, NGOs, businesses, and ordinary citizens. The Global Risk Report 2020, presented this year at the World Economic Forum in Davos, demonstrates that climate-related risks – including extreme weather, climate action failure, natural disasters, biodiversity loss, and human-made environmental disasters – are among the top five long-term risks over the next ten years. Most notably, according to survey respondents, the failure of climate change mitigation and adaptation is this year’s number one long-term risk by impact. The report underscores that, in the 2020s, “concerted action is required not only to reduce emissions but also to develop credible adaptation strategies, including climate-proofing infrastructure, closing the insurance protection gap, and scaling up public and private adaptation finance.”
Prorogation clauses are forum-selection clauses in contracts between entrepreneurs, who agree in writing on the local jurisdiction of a first-instance court for disputes arising out of or in connection with their business matter, unless the law states otherwise and prescribes an exclusive jurisdiction. It is possible to enter into a separate prorogation agreement instead of a contractual clause with the same effect.
The “order for payment procedure” was initially introduced in Bulgaria with the adoption of the new Civil Procedural Code in 2007 as an accelerated enforcement procedure for debt collection. This procedure provides creditors with a relatively fast and easy way to obtain an enforcement order against debtors. In general, the order for payment procedure is like a closed administrative procedure and requires only the submission of a standard application form and payment of a state fee of 2% of the amount claimed.
CMS Warsaw has announced that it will be joined by five former Clifford Chance lawyers in August, including Slawomir Czerwinski and Mateusz Stepien, who will join as Partners, Jaroslaw Gajde, who will join as Counsel, Antoni Wandzilak, joining as Senior Associate, and Dominika Pietkun, joining as Associate.
In the current situation, many Russian companies, especially those with foreign investment, have found they are unable to hold their annual meetings (“Annual Meetings”) in full compliance with applicable laws. This is due to both the recent tightening of formal requirements for corporate resolutions and new restrictions on movement, meetings and business operations in connection with the COVID-19 pandemic.