Alex Wolf

&

Associates

LLC

Recovery of Nationalized and Expropriated Property in Poland

Contact:  Alex Wolf                e-mail:  awolf@alex-wolf.com                Telephone:  302-351-6200



Lodz, Jugendstil architecture facade
Łódź – Jugendstil architecture by Sludge G via Flickr click to view license















Warsaw skyline.
Warsaw Skyline, By DocentX (Own work)
via Wikimedia Commons  click to view license



Building at Casimir III the Great Square in Tarnów
Building at Casimir III the Great Square in Tarnów by Motilla (own work) via Wikimedia Commons click to view license






Krakow Skyline.
Krakow Skyline, via  Wikimedia Commons this work is in the public domain


Katowice - Just a house by Kris Duda
Katowice – Tylko kamienica/Just a house by Kris Duda via Flickr click to view license

Tenement, 19 Pilsudskiego street, Krakow, Poland By Zygmunt Put Zetpe0202
Tenement, 19 Pilsudskiego street, Krakow, Poland
By Zygmunt Put Zetpe0202 (Own work)
via Wikimedia Commons click to view license


SCHEDULE OF VALUES

Q. Are progress payments tied to a Schedule-Of-Values (SOV) that is provided in an Agreement?
A. Yes, they are.

Q. Can we illustrate a comprehensive SOV?
A. Yes. The following illustrates a comprehensive SOV in our typical property recovery mandate. Initial progress payments are primarily deposits in-trust, and as the execution of the mandate advances, progress payments are made primarily after we reach milestones pre-defined in the contract.

INITIAL PAYMENTS IN-TRUST (part of non-contingent fees and expenses)

  1. Typically, with the signing of the Agreement, we receive in-trust amounts towards non-contingent fees and expenses for organizing the entire Phase 1 work, and towards assembly of documentation of Proof of Legal Interest for one heir (the “Lead Heir”).
  2. Typically, upon documented notice that we completed assembly of Proof of Legal Interest for the Lead Heir, we receive in-trust amounts towards non-contingent fees and expenses for obtaining documents that prove that on September 1, 1939 (the day when WW2 begun) his legal predecessors owned shares in relevant properties.
  3. Typically, upon documented notice that we obtained documents which, in the opinion of one of our specialized attorneys, prove that on September 1, 1939 client’s legal predecessors owned shares in relevant properties, client remits in-trust amounts towards non-contingent fees and expenses for obtaining the balance of documentation (geodesic, legal and general) concerning these properties and supported towards legal analysis of Expropriation files of these properties.
We perform further tasks (those listed below) only if the two following conditions are met:
  • Our specialized attorneys issue a supported written legal opinion, stating that there are reasonable prospects for recovery of relevant properties and,
  • If the estimated recoverable value of each property, which requires a separate recovery proceeding, is at least $700,000.

Only in such a favorable event, we file proceedings and go on to recover and monetize relevant properties.

  1. Typically, upon documented notice that we are ready to commence this task, we receive in-trust amounts towards securing all Polish and foreign documents for succession proceedings (also towards authentication and translation costs).
  2. This includes costs of securing death certificates, last wills and succession judgments, and if required relevant documents held by the International Tracing Service and similar organizations, and /or German reparation files of legal predecessors.

PROGRESS PAYMENTS AFTER REACHING PRE-DEFINED MILESTONES (the bulk of non-contingent fees and expenses)

IF REQUIRED, Proceedings To Declare Clients’ Legal Predecessors As Deceased 

  1. Upon proof of filing supported Proceedings To Declare Clients’ Legal Predecessors As Deceased (those concerning whom no death certificates are available), we receive further payments of non-contingent fees and expenses.
  2. Upon proof that we obtained the desired judgments in such proceedings, we receive further payments.

Succession Proceedings – in Direct Line

  1. Upon proof of filing supported Succession Proceedings concerning client’s legal predecessors in direct line, we receive further payments of non-contingent fees and expenses.
  2. Upon proof that we obtained the desired judgments in such proceedings, we receive further payments.

IF REQUIRED, Succession Proceedings – in Lateral Line

  1. Upon proof of filing supported Succession Proceedings concerning client’s legal predecessors in lateral line, we receive further payments of non-contingent fees and expenses.
  2. Upon proof that we obtained the desired judgments in such proceedings, we receive further payments.

Recovery Proceedings

  1. Upon proof of filing supported Recovery Proceedings concerning relevant properties, we receive further payments of non-contingent fees and expenses.
  2. Upon proof that we obtained the desired judgments in such proceedings, we receive further payments.

To reduce costs, whenever feasible, we combine Succession Proceedings in Lateral Line with those in Direct Line. Also to reduce costs, we combine Recovery Proceedings concerning different properties whenever feasible.


PAYMENTS AT THE FINAL MILESTONE — MONETIZATION (contingent fees)

  1. We receive our contingent fees each time the client monetizes any part of his claims. 
  2. Clients' ownership titles are not alienated before they receive monetization amounts they pre-authorized in writing. It may be noted that in Poland, real estate transactions by law must be handled by Civil Notaries.

Q. This whole process takes around six years, is this correct?
A. Yes.

Q. Is there a way to accelerate the execution of a mandate?
A. Yes, there is. Fast-tracking of a mandate requires us to marshal more resources (the client incurs additional costs).

As busy professionals, we work for many clients at the same time. We do not assign priority to mandates, unless a client specifically requests this. To accelerate a project, we must spend on it more funds and devote more work time, doing more things in parallel, and paying employees and vendors a premium for speed. By such measures, we expect to reduce the mandate’s duration by up to two years. On request, we quote the premium for this service.

REPORTING TO CLIENTS

Q. How do we keep clients informed about the progress of their mandate?
A. In our Agreements, we commit to keep clients informed about progress of their mandate: written reports every four months during Phase 1, every six months during Phase 2; plus urgent communications as required.

With these reports we include copies of important source documents: all material applications, pleadings and judgments; and in the final stages of a mandate, inscriptions of clients as owners, in relevant property registers in Poland — all with summary English translations.

warsaw skyline.Warsaw Central Station by night
By Christoff from Warsaw, Poland via Wikimedia Commons,click to view license

Copyright © 2013 - 2017 Alex Wolf & Associates LLC