Clifford Chance

Launch of polish transposition of LMA facility agreement

21 November 2016

On 16 November 2016, the Polish Bank Association (Związek Banków Polskich or ZBP) launched an LMA (Loan Market Association) based recommended form Polish law governed facilities agreement in a Polish language version. This form does not have the status of an LMA document, but it has been developed with the LMA's consent.  It is the most faithful transposition of an LMA facility agreement into the Polish language and into Polish law to date. Clifford Chance was heavily represented on the working group of the ZBP's Banking Law Council, tasked with delivering the project for close to four years. Grzegorz Namiotkiewicz and Jan Zdzienicki edited this document and advised on Polish law issues and Rafal Zakrzewski provided advice on English law matters. This briefing note provides more information on this document and explains a few of the legal difficulties that had to be overcome by the working group in preparing this document.

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