IFLR 1000
The Guide to the World's Leading Financial Law Firms

Soltysinski Kawecki & Szlezak has had a solid year and has been particularly active in acquisition finance.

"They are helping some of the Polish clients," says one peer.

The firm advised Azora Europa I and Azora Europa II real property investment funds on two separate €22 million financings for the acquisition of property in Warsaw and Kraków. It also advised on the Polish part of the €584 million and €333 million restructuring of the indebtedness of Technicolor / Thomson group. An important element of the firm's banking and finance practice focuses on financial regulation, where it provides outside counsel advice on banking and financial regulatory issues to Polish and international financial institutions.

Soltysinski Kawecki & Szlezak is another well-respected domestic firm. It retains its place in the second tier and has been involved in some interesting mandates. "Soltysinski I think they are active but probably on smaller deals," says one competitor. The firm has had another solid year; however, some warn that this may be subject to change. "Professor Soltysinski who is a great lawyer is semi-retired and basically there is no M&A big star there," says one competitor, adding: "[This is] the reason for Soltysinski Kawecki & Szlezak being less active, less visible."

Nevertheless, the firm has been involved in some interesting high value instructions, including advice to Elektrim in a €1.3 billion deal that ended one of the most complex and longest running corporate disputes in Poland. The deal entailed the sale of 51% of Polska Telefonia Cyfrowa to Deutsche Telekom. Additionally, the firm advised Kulczyk Investments on the purported privatisation of ENEA, one of Poland's largest energy suppliers. With estimates ranging from €1.3-2.6 billion, the deal could have been one of the largest LBOs in the region and one of the largest privatisations ever in Poland. Moreover, the firm also advised a European credit institution on the attempted €500 million acquisition of Polbank.

In one exemplary deal of 2010-11, Soltysinski Kawecki & Szlezak advised Eko Energy in the €64 million financing of the construction and installation of a 41.4 MW wind farm near Kobylnica.