KSP lawyers represented an entrepreneur in proceedings for payment of liquidated damages of PLN 500.000 due to withdrawal from a contract. The Court admitted all our arguments supporting the lack of grounds for imposition of the liquidated damages and shared our interpretation of the contract. The Court held that no liquidated damages were payable under a subcontract if the withdrawal occurred before commencement of the main contract. This led to dismissal of the entire claim for payment of PLN 500,000 and adjudication of all costs of the proceedings in favour of out client. The judgment has become final.
KSP lawyers participated in a restructuring process which ended with a final court-approved arrangement. The restructuring was among the first proceedings in the region of Silesia applying to a part of debt only, and consisting of conversion of the debt to shares of the restructured enterprise. The value of the debt-to-equity conversion exceeded 125 million zlotys.
Our clients can benefit from our training sessions concerning regulations “sealing up” the CIT and VAT systems, which have already become effective or are going to take effect in 2018. The purpose of the training is to present the changes and their impact on business, and to enable taxpayers to get ready for them. As an example, implementation of the split payment mechanism in VAT, which is supposed to be voluntary, may require adjustment of financial and bookkeeping systems from all VAT payers. On the other hand, the innovation package offers new possibilities to use the R&D exemption, which has so far been available for selected taxpayers only. During the training sessions we discuss practical consequences of the changes using real life examples.