Wednesday, 27 December 2023 16:44
Austrian investor calls for respect of foreign investor rights in Poland
pexels
Misleading foreign investor with false declarations results in losses estimated at PLN 10 million.
Austrian investor raises doubts about legitimate business etiquette and asks Polish Arbitration Court for resolution.
- Misleading with false information about the possibility of implementing a serious, multi-million investment in a prestigious restaurant project in country capital - Warsaw have led to failure of investment opportunity - informs private investor from Austria, Dr.Philipp Sabanas. After he has lost business project and considerable funds estimated at PLN 10 million, he now calls for opinion from Arbitration Court.
The Court will have to hear the case, where Austrian investor has been lured into investment in a famous roof top capital city restaurant spot, without being informed about the fact that the building owner did not secure necessary administration approvals. According to the investor's opinion, the owner of the building offered space for rent in 2021, signed an agreement (2022) and convinced the investor to build a restaurant even though City Office administration suspended the use of the building's roof.
The owner of the building – Globalworth fund, denies wrongdoings through its local branch Spektrum Tower Ltd, in its statement of December 15, 2023, emphasizing that all the Company's actions are undertaken in accordance with the provisions of law and with substantive support from renowned law firms.Furthermore, the company denies the claims that the position adopted by the Company regarding the possibility of using the hospitality business space was not supported by applicable legal provisions.
- Unfortunately, at no stage, both when signing the lease agreement and during its implementation, the investor was not informed about legal problems or lack of consent to use the roof area for commercial purposes – explained Kinga Miller, investor's legal advisor from the Wołoszański & Wspólnicy law firm.
Globalworth is a real estate fund, which owns Spektrum Tower building as well as other 20 office buildings in Poland. The case will be heard by the Warsaw Court of Arbitration in coming weeks with due course to provide answers to Austrian investor’ questions.
Source: https://businessjournal.pl
Published in
Business
-
Edible Printing Made Effortless - How MPrint's FoodBox Is Changing the Game for Bakeries and Confectioners
Written on Wednesday, 02 September 2026 13:34 in Work Read more...
MPrint, a Lithuania-based manufacturer with more than 17 years of experience in the printing equipment industry, designed the FoodBox specifically for businesses that need professional, batch-ready edible printing without investing in bulky industrial machinery. The result is a flatbed printer that prints directly onto cookies, gingerbread, macarons, chocolate, cakes, and a wide range of other confectionery items — no edible paper transfer step required, although that option remains available for those who prefer it.
-
What it means to own at Green Coast - the services, maintenance, and support behind every villa and apartment
Written on Tuesday, 01 September 2026 16:04 in Company Read more...
Owning a villa or apartment at Green Coast means enjoying a fully managed, high-end Mediterranean lifestyle backed by year-round professional support. Beyond prime real estate along the Albanian Riviera, ownership includes 24/7 resort security, comprehensive property maintenance, and dedicated rental management services. This integrated operational model ensures that every residence remains pristine, secure, and hassle-free whether owners reside on-site or abroad.
-
From First Idea to Final Master - The Essential Stages of Music Production
Written on Monday, 24 August 2026 18:35 in Company Read more...
Music production is rarely a single creative act. Even when a track begins with a spontaneous melody, drum pattern, or bassline, turning that idea into a finished release usually requires several distinct stages. Each stage has a different purpose, from developing the initial concept to making sure the final song sounds polished and consistent across different playback systems.
-
Why buyers look beyond Zadar itself
Written on Tuesday, 04 August 2026 19:08 in Business Read more...
Four Ways to Live the Zadar Coast: Where Property Buyers Find Their Place Beyond the City
-
Oil paint sets support artists in building colour, texture and depth
Written on Monday, 20 July 2026 16:45 in Work Read more...
Oil painting remains one of the most established techniques in visual art. The medium is valued for its rich colour, smooth consistency and long working time. These properties allow artists to build subtle transitions, adjust details and create several layers without rushing the process.
-
Conference Hotel Warsaw – How to Choose a Venue That Ensures the Success of Your Event
Written on Monday, 29 June 2026 14:49 in Business Read more...
For years, Warsaw has remained the leading business hub in Poland. The city is home to international corporations, public institutions, industry associations and fast-growing technology companies. As a result, thousands of conferences, training sessions, congresses and corporate events take place in the Polish capital every year.
-
How Plastic Injection Molding Supports Reliable Large-Scale Manufacturing
Written on Monday, 08 June 2026 18:58 in Work Read more...
Modern industrial production depends on components that can be manufactured quickly, precisely and in large quantities. Plastic parts are used in consumer products, technical devices, energy systems, household equipment and many OEM applications. For this reason, plastic injection molding remains one of the most important processes in high-volume manufacturing.
-
Oil paint remains a classic medium for artists seeking depth, control and lasting colour
Written on Sunday, 07 June 2026 16:09 in Work Read more...
Oil paint continues to be one of the most important painting media for artists, students and creative hobbyists. Its appeal comes from its rich colour, slow drying time and ability to create smooth transitions, layered surfaces and durable finishes. For many painters, it remains the medium most closely associated with traditional fine art.