Thu, Apr
62 New Articles

Andersen Tax & Legal has helped the FCA Group alter the Polish structure of the banking arm of the FCA Bank, a joint venture of Fiat Chrysler Automobiles and Credit Agricole Consumer Finance.

Read more: Andersen Tax & Legal Helps FCA Bank Transform FCA-Group Bank Polska into Polish Branch of FCA Bank...

Noerr has advised HKM Beteiligungs GmbH on the sale of 100% of shares in Gratka sp. z o.o.to Ringier Axel Springer Media AG, which was advised by Clifford Chance.

Read more: Noerr and Clifford Chance Advise on HKM Beteilingungs' Sale of Gratka to Ringier Axel Springer

The Deal: In July, CEE Legal Matters reported that Norton Rose Fulbright had advised Grupa Lotos SA on the USD 500 million refinancing of loan facilities contracted by the company in connection with its “Program 10+” financing. Clifford Chance advised a consortium of domestic and international banks including Bank Polska Kasa Opieki S.A., Caixabank S.A., Erste Group Bank AG, Industrial and Commercial Bank of China (Europe) S.A., ING Bank Slaski S.A., Intesa Sanpaolo S.p.A, Powszechna Kasa Oszczednosci Bank Polski S.A., and Sumitomo Mitsui Banking Corporation Bank EU AG on the deal, with Credit Agricole, CIB, and BNP Paribas SA serving as agents.

Read more: Inside Out: Grupa Lotos Refinancing

Polish lawyer Anna Wawrzynczak spent 14 years in private practice with two highly-regarded international law firms before moving in-house with the Coast2Coast investment fund, where she was Regional Counsel CEE for almost three years. In October 2019 she accepted an offer to become the Legal Manager, Head of the Corporate Division at the Polish Development Fund in Warsaw. 

Read more: Inside Insight: Interview with Anna Wawrzynczak of the Polish Development Fund

Poland, which still produces 80% of power and 75% of district heating by coal-fired generation, is about to face an unavoidable and profound transformation of its energy market. The Best Available Techniques (BAT) conclusions for large combustion plants that will enter into force in 2021, the derogation mechanism that will end in 2023, and the medium combustion plant emission limits that will become effective in 2026 all require that enormous and economically questionable investments be made in new filters for coal generation units.

Read more: Renewable Energy Investments

On January 1, 2016, Poland revamped its legal framework related to the restructuring of financially distressed businesses with a brand-new Restructuring Law and significantly-amended Bankruptcy Law. The Polish restructuring (and broadly speaking insolvency) framework is now governed by two separate legal acts: the Restructuring Law, which deals with the financial restructuring of indebted companies and businesses, and the Bankruptcy Law, which focuses on the orderly liquidation of the assets of companies and businesses without feasible options to restructure their debts and continue their operations.

Read more: The Restructuring Framework in Poland

Schoenherr, in cooperation with BonelliErede, advised Covivio on the acquisition of eight luxury hotels in Europe from Varde Partners, a global alternative investment firm, for EUR 573 million. Varde was reportedly advised by Italian firms Gianni Origoni Grippo Cappelli and Partners and Ludovici Piccone and Partners.

Read more: Schoenherr Advises Covivio on Purchase of Hotels from Varde Partners

White & Case has advised the European Investment Fund on a synthetic securitization project originated by Europejski Fundusz Leasingowy, a leasing company in the Credit Agricole Group.

Read more: White & Case Advises European Investment Fund on Europejski Fundusz Leasingowy Securitization...

Linklaters has advised Bain Capital Credit on a joint venture with real estate investment manager Corestate that resulted in Corestate's approximately EUR 73 million acquisition of the first Micro Living properties in Gdansk and Krakow for Bain Capital Credit.

Read more: Linklaters Advises Bain Capital Credit on Joint Investment with Corestate

White & Case has advised the Polish Ministry of Finance on its issuance of EUR 1.5 billion five-year notes. Clifford Chance advised the consortium of banks that arranged the issuance, which included BNP Paribas, Commerzbank, ING, JP Morgan, PKO BP and Santander.

Read more: White & Case and Clifford Chance Advise on Polish Issuance of EUR 1.5 Billion Five-Year Notes

Greenberg Traurig has advised REINO RF CEE Real Estate, a Luxembourg-based fund created by REINO Capital and Australia's CorVal, on its preliminary agreement to acquire the entire BUMA Group real estate portfolio. Clifford Chance reportedly advised the BUMA group.

Read more: Greenberg Traurig Advises REINO Capital and RF CorVal on Acquisition of BUMA Group

Rymarz Zdort has advised a joint venture of a fund managed by the Real Estate Group of Ares Management Corporation and Griffin Real Estate on its acquisition of 98.04% of the shares in Poland's Murapol, a residential property developer. RKKW advised Murapol on the deal.

Read more: Rymarz Zdort and RKKW Advise on Murapol Takeover

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