12
Sun, Jul
64 New Articles

The Buzz in Poland: Interview with Jaroslaw Iwanicki of Allen & Overy

The Buzz in Poland: Interview with Jaroslaw Iwanicki of Allen & Overy

Poland
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

“It has been a good economic year,” says Jaroslaw Iwanicki, Partner at Allen & Overy in Warsaw, referring to 2018 and the beginning of 2019. “The market has been surprisingly good both for business professionals and lawyers.”

According to Iwanicki, the private sector is “particularly robust,” keeping the legal market active. At the same time the Polish legal market is “highly competitive," especially on price, which he describes as particularly challenging for international law firms. The situation is worsened, he says, by state-controlled companies requiring their legal advisers to accept government-imposed caps and mandatory limits on fees, which, he says, “eliminates a large number of bigger firms from being able to work for them.”

Furthermore, Iwanicki says that many lawyers in the country “have spoiled the market by quoting very low,” which leads to problems for many law firms. “Profits are growing in other places, while in Poland it is pretty difficult to keep up the fee levels.” 

Going forward, Iwanicki says that despite the stable economy Poland still may be affected by two challenges: “the looming global crisis” and the slowdown of the German economy. On the latter subject, he explains that, “Poland is very much dependent on the German economy. We have 30% percent of our export going to Germany. Hence, any German slowdown will cause a slowdown in Poland as well.” 

In a classic back-handed compliment, Iwanicki says that “politically, the positive development is that the government did not screw up as much as they could have.” He explains that the current government is walking on a tightrope, jeopardizing the country’s aspirations and achievements in relation to the EU. “So far, it has not had any negative impact on business, but it can get worse,” he says, adding, “it is hard to predict what awaits the legal profession and business in the near future.” 

Poland Knowledge Partner

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 2019, Chambers Europe 2019, and The Legal 500 EMEA 2019.

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

Our Latest Issue