Publication date: January 10, 2024

Polish judicial protection tools for the sale of real estate in international bankruptcy – case study and suggested solutions

In the Polish legal system, it is possible to extend bankruptcy declared abroad to Polish jurisdiction. In accordance with the amendment to the Polish Bankruptcy Law, which came into force on January 1, 2016, the provisions of the Act update the possibility of recognizing judgments initiating foreign bankruptcy proceedings. This is related, among other things, to increased emphasis on the universality of bankruptcy proceedings, especially in European Union countries. Pursuant to Article 19 of Regulation 2015/848 of the European Parliament and of the Council, “a judgment opening insolvency proceedings issued by a court of a Member State having jurisdiction in accordance with Art. 3 shall be recognized in all other Member States (…).” The phrase “having jurisdiction in accordance with Art. 3” – art. 3 of the Regulation reads: “1. The courts of the Member State in whose territory the debtor’s center of main interests is situated have jurisdiction to open insolvency proceedings – the main insolvency proceedings. The main bankruptcy proceedings are considered to be proceedings initiated in the country where the principal center of the debtor’s main activities is located (Article 3(1) of the Regulation)[1].

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Publication date: January 05, 2024

Access to capital and its acquisition is the key to the development of every enterprise. It may be easier for larger, more established companies to raise capital from investors or obtain additional money from lenders. However, some companies may encounter obstacles that may slow down their growth. This is especially true for small businesses and startups, where crowdfunding can be helpful.

What is crowdfunding?

Crowdfunding involves using small amounts of money from a large number of people to fund a new business. It leverages easy access to vast networks of people through social media and crowdfunding sites to connect investors and entrepreneurs and connect traditional owners, relatives and venture capitalists. It offers the potential to increase entrepreneurship by expanding the pool of investors beyond the circle. Crowdfunding means an alternative form of funding, which is particularly popular among start-ups and small and medium-sized enterprises. The main reason for this is the informalization of procedures and high flexibility of operating rules.

How does crowdfunding work?

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Publication date: October 25, 2023

On 25 October 2023, KIELTYKA GLADKOWSKI took part in the seminar organised by Sayari on Russia Export Controls and Dual-Use Technology: Mitigating Diversion Risk.

Russia continues to rely on Western-manufactured dual-use technology to produce advanced weapons systems and rearm its military. And while a number of countries have taken steps to curb the exporting of critical technology to Russian end users, public reporting, recent designations, and law enforcement actions shed light on intricate sanctions evasion schemes designed to procure needed technology.

The seminar analysed Russian trade data and discussed recent trends in dual-use technology procurement, and demonstrated how regulators and industry can leverage public and commercially available data to mitigate end-user risk and enhance enforcement.

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    Publication date: October 18, 2023           

1. Introduction and general overview

It will be fair to state that the commercial and trade practice require certain flexibility and as the free market can constantly evolve and invent new methods, ways of performing business activity. Some of the examples of these inventions or rather methods allowing to conduct business activities in a better, more efficient manner are different contract provisions, clauses, among which “option” clauses will be of this article’s interest. The very term “option” can be used first and foremost as regards to a specific type of contract, however the terminology can differ between countries and, moreover, the term itself is present in different contexts, which does not always necessarily prejudge its meaning. Nevertheless, this article is focused on legal provisions (included in contracts or, for instance, articles of association) that give the entitled subject certain right regarding the transaction. This right consists on being able to choose consequences, actions or just one of the options as provided for in the contract. The most common aim of these provisions is to secure interests of one of the party or balance interests of both parties. The option clauses are mainly applicable to company contracts but they can be used in commercial transactions to various types of contracts and activities.

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Publication date: April 21, 2023

On Friday, April 21, 2023, the Regulation of the Minister of Development and Technology was published in the Journal of Laws, authorizing the transit of agricultural products from Ukraine through Poland. It abolished the regulations contained in the regulation of April 15, 2023, which introduced a total ban on importing agricultural products to Poland. After the meeting of the government of the Republic of Poland and Ukraine on April 19, 2023, it was decided to resume the transit. However, the new regulations contain safeguards to ensure that all products are exported from the territory of the Republic of Poland. Pursuant to the Regulation, the carriage of goods will be possible only in a situation where the transit ends in the seaports of Gdańsk, Gdynia, Świnoujście or Szczecin, and in a situation where it ends outside the territory of the Republic of Poland. The Regulation itself is to apply from April 21, 2023 to June 30, 2023. At the same time, the ban on importing products to Poland from Ukraine is maintained.

The Regulation applies to products such as cereals, sugars, dried fodder, seeds, hops, flax and hemp, fruit and vegetables, processed fruit and vegetable products, wines, beef and veal, milk and milk products, pork, mutton and goat meat, eggs, poultry meat, ethyl alcohol of agricultural origin, bee products, other products excluding CN codes falling within heading 0101 (live horses, donkeys, mules and hinnies).

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