banking & finance

Bank enforcement titles are unconstitutional: What next?

Poland’s Constitutional Tribunal has held that bank enforcement titles are contrary to the Polish Constitution because they violate the constitutional principle of equality. Pursuant to this judgment, the relevant provisions of the Banking Law—Art. 96(1) and Art. 97(1)—will cease to be in force on 1 August 2016. The ruling is fundamentally important for the entire banking sector and for bank customers.

New and planned regulation of investment crowdfunding

New regulations and interpretations will soon have an impact on equity- and debt-based crowdfunding business models.

How many claims can be secured by one financial pledge?

It is clear that an ordinary pledge can secure only one claim. In the case of a financial pledge the opinions are divided.

Legal position of crowdfunding platforms

Operators of crowdfunding platforms must consider numerous potentially applicable regulations, governing such matters as electronic services, payment services, money laundering, securities trading, foreign exchange and banking.

Subparticipation in Poland: Legal and tax aspects

Amendments to the Corporate Income Tax Act which went into effect on 1 January 2014 provide an opportunity to revive the practice of subparticipation in lending in Poland.

What is a reverse mortgage, and whom does it benefit?

In September 2014 the Polish Sejm adopted the long-awaited but controversial Reverse Mortgage Act. The act still requires the approval of the Senate and the President—and this new financial product deserves a closer look.