In an effort to facilitate development of a free market system and attract foreign investment, Poland has embarked on a program to privatize its banking industry. Consequently, there has been considerable international interest in entering the Polish banking market. The ability to secure credits will play an important role in a foreign bank's decision of whether to launch Polish operations. Unfortunately, current Polish secured transactions laws are inadequate and do not offer the same legal protection as do laws in the West. The Polish Civil Law Reform Commission has recognized a need to reform secured transactions laws and has prepared drafts of new laws. This Note provides an overview of current Polish secured transactions laws. The Note then examines the Civil Law Commission's proposed changes to the current laws. The Note concludes that although some flaws remain, the proposals would fundamentally alter the current inefficent regime and should stimulate commercial lending in Poland.
Secured Transactions in Poland: Practicable Rules, Unworkable Monstrosities, and Pending Reforms,
17 Hastings Int'l & Comp. L. Rev. 389
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