Krzysztof Gorzelak

Senior Associate
Norton Rose Fulbright Dyczkowski and Partners, Limited Partnership

Krzysztof Gorzelak

Krzysztof Gorzelak


Related services and key industries


Krzysztof Gorzelak, PhD is a banking lawyer based in Warsaw. He advises on banking law and capital markets law issues in banking and finance transactions.

Krzysztof has been involved in a number of lending transactions, acting for banks and borrowers, and is highly regarded for his experience in aviation finance transactions, export finance and trade finance. He also has significant experience in derivatives and capital markets regulations.

In 2014, Krzysztof was seconded for six months to the Trade Finance Legal department in the Royal Royal Bank of Scotland plc (London office) and in 2015 he was seconded for three months to the Trade Finance Legal department of Citibank N.A. (London branch).

Professional experience

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  • University of Warsaw (Faculty of Law and Administration), 2006
  • One semster at the University Rotterdam (Socrates-Erasmus programme)
  • Diploma course in English and EU law at the British Centre for English and European Legal Studies co-organised by the University of Cambridge
  • Scholarship from the Polish Ministry of Education, Collegium Invisible and the DAAD
  • In 2011 he was admitted to the Polish Bar of Legal Advisers
  • PhD in Law - University of Warsaw (Faculty of Law and Administration), 2015.
  • Radca prawny (qualified in Poland) 2011


  • Inter Cars S.A. - on transaction of extension, increase and reorganization of the senior facilities in the aggregate amount of app. PLN1.84bn (approximately €400m). The Warsaw office acted as the leading counsel for Inter Cars S.A., other Polish Obligors from Inter Cars Group and Inter Cars Group Obligors located in ten different jurisdictions across Europe. The Warsaw office advised on transaction involving onboarding of Santander Bank Polska S.A. as the new consortium member and extension, increase and reorganization of financing extended to Inter Cars group.
  • UniCredit Bank AG's London branch as agent and lenders - on the PLN1bn incremental facility made available to Cyfrowy Polsat S.A., one of the Grupa Polsat brands.
  • A consortium of leading Polish and international banks consisting of BNP Paribas Bank Polska S.A., PKO Bank Polski S.A., Siemens Bank GmbH, Bank Millennium S.A., ING Bank Śląski S.A., Bank Pekao S.A. and Bank Ochrony Środowiska S.A. - on a new term and revolving facilities agreement amounting to a total of PLN615m (with additional optional incremental facility of up to PLN100m) granted to CARGOUNIT. The funds were used, inter alia, to finance the acquisition of environmentally friendly electric locomotives and modernisation of the companies shunters' fleet. The team negotiated complex financial documentation including intercreditor arrangements and advised on the hedging strategy related to the financing.
  • P4 sp. z o.o. (branded as PLAY) - on approximately PLN464m (€100m) financing for the purchase of Samsung equipment, which financing was provided by Banco Santander, S.A. in the form of an export finance facility backed by an insurance policy of the Korean Export Credit Agency (K-Sure).
  • A consortium of the Polish banks comprising Credit Agricole Bank Polska S.A., BNP Paribas Bank Polska S.A. and Bank Polska Kasa Opieki S.A. - on a debt financing extended to Farm Frites Poland SA. The total value of the financing was equal to PLN330m (€71.95m). The funds were used to finance working capital requirements and the development of two new production lines.
  • Bank Polska Kasa Opieki S.A. - on refinancing the debt of Polska Żegluga Morska Group companies (Polsteam Group) in connection with the acquisition of five vessels. The transaction involved the drafting of a full security package for the financing, including among others ship mortgages.
  • Export Development Canada - on the transaction of financing a Boeing 737 aircraft simulator, which was used for training pilots in Poland.

Krzysztof has written a series of articles on banking, capital markets and legal theory published in Polish national newspapers and in the legal press, including titles such as the Capital Markets Law Journal (Oxford University Press).

He also co-authored two books entitled: 'Commodities and commodity derivatives. Legal aspects of trading' and 'System of commercial law. Vol. 4. Law of financial instruments', published by C.H. Beck in 2011 and 2016, respectively.

Admitted to the Polish Bar of Legal Advisers, 2011


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