Notice of the declaration of enforceability of a foreign arbitral award
FINANCIAL SUPERVISORY COMMISSION
Current report no. 8/2026
Date of preparation:
26 May 2026
Legal basis:
Article 17(1) of the Market Abuse Regulation " inside information.
Notice of the declaration of enforceability of a foreign arbitral award
The Management Board of Bioton S.A. ("the Company") announces that, following a hearing on 26 May 2026, the Court of Appeal in Warsaw declared the award of the China International Economic and Trade Arbitration Commission (CIETAC) dated 25 August 2017 ("Award") and awarded costs.
In its Award, CIETAC ruled in favour of Hefei Life Science Park Investments and Development Co., Ltd., with its registered office in Hefei ("Hefei") to be paid, within 15 working days of the date on which this award takes effect, compensation in the amount of USD 1.5 million and default interest (calculated at 0.05% of USD 1.5 million per day, from 1 October 2015 until the date of actual payment). It further stated that the Company is obliged to pay to Hefei, within 15 working days of the date on which this judgment takes effect, the sum of licence fees amounting to USD 146,80 USD due by the end of the third quarter of 2015, together with interest for late payment calculated from the first quarter of 2013 at a rate of 0.05% per day, totalling USD 184,549.82. Furthermore, CIETAC ordered the Company to pay the claim fee and part of the arbitration fee.
As indicated in interim reports, the case concerned the settlement of mutual accounts between the parties. The source of the dispute was an agreement concluded on 21 October 2011 (with subsequent amendments) between the Company, SciGen Ltd., HLST and Mr Gao Xiaoming. The Company approached a law firm specialising in the law of the People"s Republic of China to enquire about the limitation period for the enforceability of the application for enforcement of the arbitral award. In view of the opinion received and taking into account that no circumstances relating to the suspension, interruption or termination of enforcement proceedings had arisen in the case, and that the deadline for filing an application to initiate enforcement in this case had expired on 15 September 2019, the Company concluded that the claim was time-barred. The Company recorded the liability. The Company received an application for a declaration of enforceability (issuance of an enforcement clause) of the Judgment on 4 November 2025.
The proceedings were brought by Hefei (the Applicant) against Bioton S.A. and SciGen PTE. Ltd., with its registered office in Singapore.
Prior to issuing its ruling, the Court of Appeal in Warsaw, acting pursuant to Article 235" § 1(2), (3) and (5) of the Code of Civil Procedure, dismissed the application to seek the opinion of a court-appointed expert in Chinese law, noting that it was irrelevant to the resolution of the case and would serve only to prolong the proceedings.
In its oral reasons for the decision, the Court stated that there were no grounds for refusing to declare the award enforceable in accordance with the Convention on the Recognition and Enforcement of Foreign Arbitral Awards, done at New York on 10 June 1958 (the "New York Convention"). In the Court"s view, the Applicant had submitted the correct documents and met the formal requirements.
The Court also emphasised that the Award had not been set aside in the People"s Republic of China, and that the Applicant had attempted to enforce it within the territory of the PRC within the time limit prescribed by Chinese procedural law, as demonstrated by the relevant documents. In the Court"s view, the procedural time limit for filing an application for a declaration of enforceability in the PRC is not binding on the Polish court, whereas Polish law does not provide for analogous restrictions.
The order becomes final upon its announcement, i.e. on 26 May 2026. At the same time, the Company notes that, pursuant to Article 1215 § 3 of the Code of Civil Procedure, a cassation appeal may be lodged against a final court order concerning the recognition or declaration of enforceability of an arbitral award issued abroad or a settlement reached before an arbitral tribunal abroad. The Company is currently analysing the implications of this ruling, including its validity and the possibility of taking further legal action.
Current report no. 8/2026
Date of preparation:
26 May 2026
Legal basis:
Article 17(1) of the Market Abuse Regulation " inside information.
Notice of the declaration of enforceability of a foreign arbitral award
The Management Board of Bioton S.A. ("the Company") announces that, following a hearing on 26 May 2026, the Court of Appeal in Warsaw declared the award of the China International Economic and Trade Arbitration Commission (CIETAC) dated 25 August 2017 ("Award") and awarded costs.
In its Award, CIETAC ruled in favour of Hefei Life Science Park Investments and Development Co., Ltd., with its registered office in Hefei ("Hefei") to be paid, within 15 working days of the date on which this award takes effect, compensation in the amount of USD 1.5 million and default interest (calculated at 0.05% of USD 1.5 million per day, from 1 October 2015 until the date of actual payment). It further stated that the Company is obliged to pay to Hefei, within 15 working days of the date on which this judgment takes effect, the sum of licence fees amounting to USD 146,80 USD due by the end of the third quarter of 2015, together with interest for late payment calculated from the first quarter of 2013 at a rate of 0.05% per day, totalling USD 184,549.82. Furthermore, CIETAC ordered the Company to pay the claim fee and part of the arbitration fee.
As indicated in interim reports, the case concerned the settlement of mutual accounts between the parties. The source of the dispute was an agreement concluded on 21 October 2011 (with subsequent amendments) between the Company, SciGen Ltd., HLST and Mr Gao Xiaoming. The Company approached a law firm specialising in the law of the People"s Republic of China to enquire about the limitation period for the enforceability of the application for enforcement of the arbitral award. In view of the opinion received and taking into account that no circumstances relating to the suspension, interruption or termination of enforcement proceedings had arisen in the case, and that the deadline for filing an application to initiate enforcement in this case had expired on 15 September 2019, the Company concluded that the claim was time-barred. The Company recorded the liability. The Company received an application for a declaration of enforceability (issuance of an enforcement clause) of the Judgment on 4 November 2025.
The proceedings were brought by Hefei (the Applicant) against Bioton S.A. and SciGen PTE. Ltd., with its registered office in Singapore.
Prior to issuing its ruling, the Court of Appeal in Warsaw, acting pursuant to Article 235" § 1(2), (3) and (5) of the Code of Civil Procedure, dismissed the application to seek the opinion of a court-appointed expert in Chinese law, noting that it was irrelevant to the resolution of the case and would serve only to prolong the proceedings.
In its oral reasons for the decision, the Court stated that there were no grounds for refusing to declare the award enforceable in accordance with the Convention on the Recognition and Enforcement of Foreign Arbitral Awards, done at New York on 10 June 1958 (the "New York Convention"). In the Court"s view, the Applicant had submitted the correct documents and met the formal requirements.
The Court also emphasised that the Award had not been set aside in the People"s Republic of China, and that the Applicant had attempted to enforce it within the territory of the PRC within the time limit prescribed by Chinese procedural law, as demonstrated by the relevant documents. In the Court"s view, the procedural time limit for filing an application for a declaration of enforceability in the PRC is not binding on the Polish court, whereas Polish law does not provide for analogous restrictions.
The order becomes final upon its announcement, i.e. on 26 May 2026. At the same time, the Company notes that, pursuant to Article 1215 § 3 of the Code of Civil Procedure, a cassation appeal may be lodged against a final court order concerning the recognition or declaration of enforceability of an arbitral award issued abroad or a settlement reached before an arbitral tribunal abroad. The Company is currently analysing the implications of this ruling, including its validity and the possibility of taking further legal action.