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Dr hab. Paweł Wajda, prof. UW
ORCID: 0000-0003-4423-8881
Dr hab. Paweł Wajda, prof. UW Professor at the Faculty of Law and Administration of the University of Warsaw, an advocate, as an of counsel in the Baker McKenzie law firm, he is responsible for the area of the financial services regulatory.
DOI: 10.33226/0137-5490.2021.3.5
JEL: G21, K15

This second part of the article is about banks` condiction claim regarding the reimbursement for noncontractual use of capital provided by banks in the situation of acknowledgement of invalidity (ex tunc) of credit agreement. The issue arises on the basis of judicial practice on mortgage credit agreements denominated in or indexed to foreign currencies. This issue arose on the basis of the jurisprudence concerning mortgage loan agreements denominated or indexed to a foreign currency. This part of article discusses the doubts that have arisen, based on — which requires an explicit reservation — the body of case-law, as well as proposing specific solutions. Such a solution is the result of the fact that the problem which is the subject of this paper has been created on the basis of court case law (where it was "initiated" in a way by the judgment of the Court of Appeals in Białystok on 20 February 2020; reference: I ACa 635/19) and is a strictly practical problem; thus, its solution should be drawn from the hitherto judicial output. As a result of the above, both the doctrinal considerations and the analysis of the doctrine acquis will be reduced here to the necessary minimum.

Keywords: non-contractual use of capital; unjust enrichment; invalidity of credit agreement; condiction claim
DOI: 10.33226/0137-5490.2021.2.3
JEL: G21, K15

The first part of this article is about banks` condiction claim regarding the reimbursement for non-contractual use of capital provided by banks in the situation of acknowledgement of invalidity (ex tunc) of credit agreement. The aim of the article is to show — based on the analysis of the existing judicature — that if a credit agreement is declared invalid ex tunc, the bank, as part of its condition, is entitled to reimbursement for noncontractual use of the capital by the borrower. This issue arose on the basis of the jurisprudence concerning mortgage loan agreements denominated or indexed to a foreign currency. This approach to the subject is the result of the fact that the problem which is the subject of this paper has been created on the basis of court case law (where it was "initiated" in a way by the judgment of the Court of Appeals in Białystok on 20 February 2020; reference: I ACa 635/19) and is a strictly practical problem; thus, its solution should be drawn from the hitherto judicial output. This article discusses the doubts that have arisen as well as proposes specific solutions.

Keywords: non-contractual use of capital; unjust enrichment; invalidity of credit agreement; condiction claim
DOI: 10.33226/0137-5490.2020.5.2
JEL: G28, K23

This article is devoted to the analysis of public law aspects of transactions of acquisition of significant
stakes in investment funds managers. The article describes the procedure that is being used by the Polish
Financial Supervision Authority to determine whether the purchaser of a significant portfolio of shares gives
a guarantee of proper, safe and stable operation of investment fund manager, as well as the issue by the
Polish Financial Supervision Authority of the decision expressing or not expressing (objection) consent to the
acquisition of a significant portfolio of shares of an investment fund manager. Another element of
consideration is the presentation of mechanisms to ensure compliance with the obligations related to the
acquisition of significant portfolio of shares, as well as the assessment of the institution itself as regards the
supervision of the acquisition of significant blocks of shares of investment fund managers.

Keywords: investment fund manager; significant portfolio of shares; supervision; Financial Supervision Authority; objection; notification; consent
DOI: 10.33226/0137-5490.2020.4.1
JEL: G28, K23

This article is devoted to the legal analysis of transactions involving the acquisition of significant stakes in investment funds managers that are managing the investment funds. The authors focused on the most important issues from the point of view of the practice of conducting such transactions. The article presents, in particular, the specificity of such transactions, the ratio why such transactions are the subject of supervisions conducted by the Polish Financial Supervision Authority, as well as detailed description of the institution of notification of the acquisition of a significant stake in an investment fund managers.

Keywords: investment fund manager; significant portfolio of shares; supervision; Financial Supervision Authority; objection; notification; consent

Dr hab. Paweł Wajda, prof. UW

Professor at the Faculty of Law and Administration of the University of Warsaw, an advocate, as an of counsel in the Baker McKenzie law firm, he is responsible for the area of the financial services regulatory.