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On 30 June 2021, the Polish President signed an Act (“Amendment”) changing the so-called Anti-Crisis Shield (i.e. Act on specific solutions related to the preventing, counteracting and combating COVID-19, other infectious diseases and crisis situations caused by them, and certain other acts).

While reading an article from the Nov/Dec 2020 issue of the Harvard Business Review, I had the distinct impression that someone had read my mind. The article dealt with a study conducted by Christine Exley and Judd Kessler on the subject of self-promotion among men and women, which the researchers believed to be an understudied behavior that could have important implications for labor market outcomes.

Based on available data, 2019 saw a significant drop in Chinese investment in Europe. The latest estimates by Rhodium Group show that Chinese investments in Poland for 2020 amounted to $1 billion, which is significantly more when compared to 2019’s $338 million. However, this extraordinary outcome was made possible mostly due to the investments of GLP in CEE. As estimated by Rhodium, the value of GLP investments in Poland in 2020 amounted to approximately $800 million and covers 48 industrial buildings and warehouses acquired in Poland.

It is symptomatic of the importance of the real estate market that Generation Y – members of which are often referred to as “millennials” – is also, sometimes, described as “Generation Rent,” because so many young adults have been priced out of the housing market.

On December 15, 2020 CEELM gathered legal experts from across the region for its annual Year-in-Review Round Table conversation. In a wide-ranging discussion, participants shared opinions and perspectives on their markets, on strong (and less-strong) practices across the region, and the effect of the COVID-19 crisis on both, as well as on how technology is changing the legal industry, and what the industry will look like in 2021.

Within days of the coronavirus’s arrival in March, the Polish government was scrambling to react, with lockdowns, subsidies and stimulus, public health requirements, and other measures coming rapidly, on an ad hoc basis, with the need for speed making it difficult for Polish companies (and Poles in general) to keep up, and forming a patchwork of ideas rather than a comprehensive and coherent plan.

New technologies are all the rage, as law firms adapt to the telecommuting and digitalization realities that accompanied the Covid-19 pandemic. Accordingly, we decided to ask our Law Firm Marketing experts from across the region a simple question: “What is the single most important/valuable piece of software you use?” As always, we asked respondents to focus on the question at hand, rather than – as we put it – using the question simply as an excuse to “tell us that their firms are awesome.” Not everyone was able to resist.

In its recent judgment C-311/18 (Schrems II) the Court of Justice of the European Union (CJEU) undermined, to a certain extent, the principles established in previous years for the transfer of personal data outside the EEA, in particular to the US. Many exporters, i.e. controllers and processors transferring data to third countries, were surprised by the verdict and left in confusion. Fortunately, the European Data Protection Board (EDP) came to the aid and adopted recommendations on measures that supplement transfer tools to ensure compliance with the EU level of protection of personal data.

The two major issues in Poland at the moment, according to Agnieszka Pytlas, Managing Partner of Penteris in Warsaw, are the lockdown necessitated by the second wave of the Covid-19 crisis and the ongoing protests against a ruling by the country’s top court in October that amounted to a near-total ban on abortion.

Polish Parliament is currently working on changes to tax law imposing a 19% corporate income tax on limited partnerships. The changes, which will enter into force in 2021, are meant to tighten up the tax system and curb international tax optimisation. Unfortunately, even a cursory glance at the current ownership structure of limited partnerships in Poland will tell us that the proposed solutions will be felt mostly acutely by Polish entrepreneurs.

Penteris at a Glance

Penteris is a law firm combining in-depth expertise, robust advice, and a pan-regional reach.

We provide full-service business law advice within five sector lines: Energy & natural resources, Financial institutions, Private equity, Real estate, and Retail.

On the market since 2001, we were originally part of a Scandinavian law firm and then a founding office of a pan-Baltic organisation.

Our attorneys will work closely with you, providing you with the hard skills, service-minded know-how, and legal expertise that will keep you secure while you lead the market.

Our skills are at your disposal:

  • Expertise and passion wrapped up in a personal service
  • Close-knit team providing a multidisciplinary approach
  • Ability to listen, understand, and deliver for the tangible benefit of the client.

The team continues to be internationally recognised year on year, most recently by Chambers Global 2020, Chambers Europe 2020, and The Legal 500 EMEA 2020.

Firm's website: https://penteris.com