In February 2020, a document issued by the European Commission was published, called the White Paper on Artificial Intelligence. It concerns the use of artificial intelligence systems by Member States, their promotion, as well as the risks associated with their functioning, especially in the field of personal data. The main aim of the white paper was to outline the areas where artificial intelligence may prove most socially useful. More efficient health protection and modernization of public safety systems are just examples of how many amenities EU Member States can count on if they decide to implement AI (Artificial Intelligence) technologies in their domestic markets. The White Paper also emphasizes the role of public administration bodies in EU countries, which is responsible for the decision on admitting AI systems to specific areas of social life.
Polish provisions, referred to as Shield 4.0, officially known as the Act on interest subsidies for bank loans granted to entrepreneurs affected by COVID-19 and on simplified proceedings for approval of an arrangement in connection with the occurrence of COVID-19 (full text available at https://isap.sejm.gov.pl), introduced significant changes to the Polish restructuring procedure. A novelty is the introduction of a simplified restructuring procedure, partly based on the existing regulations on the Polish procedure for approval of an arrangement between the creditors and the debtor. The newly introduced proceedings contain regulations protecting the enterprise against enforcement actions of creditors, while being for the most part extrajudicial (out-of-court) proceedings. An important feature of this new model of debt restructuring, which is also a novelty in the Polish restructuring regulations, is the accompanying extensive enforcement immunity, regulated in Art. 16 sec. 3 of the aforementioned act. As a result, since the announcement on the opening of the simplified restructuring proceedings, creditors in principle do not have the possibility to conduct enforcement proceedings against the entrepreneur – the debtor. According to Art. 17 sec. 1 and 2 of the Shield 4.0, this also applies to claims secured in kind (secured by a physical collateral), which so far was only possible in the costly and lengthy recovery proceedings. Moreover, according to Art. 16 sec. 3 point 3 of this Act, during the period of simplified restructuring proceedings, it is impossible for creditors to terminate major agreements concluded with the debtor, including rental, lease, leasing or credit agreements.
KIEŁTYKA GŁADKOWSKI KG LEGAL was addressed to participate in cross-border expert consultations as part of one of the European Commission’s projects aimed at supervising the application of the European Union law. As part of the project, managed by a renowned global audit institution based in Brussels, KIEŁTYKA GŁADKOWSKI KG LEGAL was asked to evaluate the application of the Regulation (EC) 805/2004 of 2004 establishing a European Enforcement Order for uncontested claims.
The study is intended to assess the functioning of the provisions of the Regulation (EC) 805/2004 and the judicial practice of using the European Enforcement Order in individual jurisdictions.
In particular, the assessment will concern the functioning of the Regulation (EC) 805/2004, based on the current practice, and its comparison with the initial assumptions underlying the adoption of this EU act, also taking into account possible cases of incorrect application of the Regulation or the resulting undesirable effects.
As part of the consultations, there have been undertaken research activities, including interviews at national level such as expert teleconferences. On the basis of the conducted research and analyses, a detailed report on the functioning of the European Enforcement Order in Poland will be prepared.
We are proud that we have been trusted with the development of the following projects for our Clients:
IT and new technologies sector (cryptocurrency)
KIELTYKA GLADKOWSKI provided complex assistance to non-EU investor in respect of legal possibilities of cryptocoin mining in Poland. The assistance involved the choice of the legal form of activity in Poland, the shareholding structure, the regulatory requirements, compliance with energy law and the analysis of investment costs (including tax costs) as well as the possibility of investing in special economic zones in Poland.
The core services for HNW individuals rendered by KIELTYKA GLADKOWSKI LEGAL include:
coordinating the Clients’ legal affairs in Poland and globally through extensive network of affiliated specialised law firms;
legal advice in wealth management;
succession planning, superannuation, and family agreements;
assistance to private investors investing across different asset classes;
capital investments and investment planning;
legal support in creating trust funds and tax optimization;
separation of assets from risks;
litigation;
estate administration;
property acquisitions and development;
advice and support on business and corporate structuring;
assistance in drafting and negotiating stakeholder agreements, such as partnership, shareholder and joint venture agreements.
KIELTYKA GLADKOWSKI LEGAL has been recognised by the independent legal market media (LINK TO THE ARTICLE) as the law firm strongly developing its Private Client desk in the direction of comprehensive legal services rendered to high-net-worth individuals in wealth management, investments across different asset classes; capital investments and investment planning; legal support in creating trust funds and tax optimization as well as advice and support on business and corporate structuring.
We are proud that we have been trusted with the development of the following projects for our Clients:
