Client Alert
Energy traders in Hungary have already felt the impact of the new EKR system
Beginning in 2021, the energy efficiency obligation system (EKR) was introduced in Hungary initiated by the Ministry of Innovation and Technology. The EKR will impose significant energy efficiency obligations and onerous sanctions on the affected license holders. Therefore, it is important to be familiar with the system, most importantly because it is already in force […]...
Foreign investors need to comply with new FDI rules in the Czech Republic as of 1 May 2021
Starting on 1 May 2021, foreign investors will need to comply with new FDI rules in the Czech Republic. The new rules are broad, meaning that an investment of any kind, intended or made (completed) by a foreign investor which potentially endangers the security of the Czech Republic or its public or internal order, may […]...
Slovenia amends the companies act: Implementation of shareholder rights directive II, amendment of corporate governance rules
On 9 February 2021, the long-awaited amendment to the Slovenian Companies Act was published. The majority of the changes concern the implementation of the Shareholder Rights Directive II and the Commission Implementing Regulation (EU) 2018/1212, amendments to corporate governance rules and stricter rules for the establishment of companies. The harmonisation of Slovenian corporate law with […]...
Private equity driving growth in CEE
INVEST EUROPE REPORT: CREATING VALUE AND CONTINUED GROWTH Central and Eastern Europe (CEE) now boasts over 30 years of growth and development since its ‘restart’ in the early 1990s, and private equity has been a part of the story since the beginning. As CEE and Europe as a whole have continued to develop, investment themes […]...
Austrian chapter of the 8th edition of the insolvency review
Eva Spiegel authored the Austrian chapter of the 8th edition of The Insolvency Review. Her contribution offers a comprehensive overview and an in-depth review of market conditions and insolvency case developments in Austria....
Amendments to the act on counteracting money laundering and terrorist financing: what will change?
On 12 January 2021, the Council of Ministers of Poland adopted draft amendments to the AML Act in order to implement EU Directive provisions on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing. It is anticipated that the legislative works on the draft amendments will […]...
Mietzinsreduktion in Zeiten von Covid-19: Ein Vergleich Österreich – Deutschland
Lockdowns, Zugangsbeschränkungen, Sperrungen stellen Mieter und Vermieter vor neue Rechtsfragen: Ist die Miete fällig, wenn Geschäftsräume nicht oder nur teilweise nutzbar sind? Wie verhält es sich bei Büroflächen? Rechtsfragen, die noch dazu länderweise unterschiedlich beantwortet werden. Wolf Theiss (Wien) und Pinsent Masons (München) haben einen Rechtsvergleich angestellt: Mietzinsreduktion in Österreich und Deutschland, der unter anderem […]...
Serbia: Shake-up in the energy market – auctions for premiums, new foreign entrants in the gas market, and much more
The Serbian Ministry of Mining and Energy has opened a public debate on a set of draft energy laws intended to introduce substantial changes in the Serbian energy market. The public debate is open until 9 February 2021 and relates to: (i) a draft of the new Law on Renewable Energy Sources; (ii) draft amendments […]...
New law on the evidence of ultimate beneficial owners – Czech Republic
Last week on 22 January 2021, the Czech President signed a long-awaited and extensively-discussed Act on the Evidence of Ultimate Beneficial Owners. The UBO Act sets out a revised framework for ultimate beneficiary ownership in line with the requirements of the 5MLD (EU) and provides many changes to the existing law, such as a revised […]...
Newly adopted law on protection of consumers against excessive interest
MORE REASONS FOR CONCERN RATHER THAN BENEFITS? Romania recently adopted a new law to protect consumers from excessive interest. It is scheduled for a constitutionality review next week on 10 June 2020. If it survives the review, it will impact financial creditors such as credit institutions, non-banking financial institutions and debt collection entities. It also […]...
Natural gas trading in Bulgaria – The new licensing regime
A new requirement for traders of natural gas to obtain a license for natural gas trading activity in Bulgaria has been adopted. Prior to these newly introduced requirements, the natural gas trade in Bulgaria was not subject to licensing. Applicants for a natural gas trading license must prove to the Bulgarian Energy and Water Regulatory […]...
Brexit: Auswirkungen auf das Vergaberecht
Nach Jahren zäher Verhandlungen und mehrerer Aufschübe ist es Ende Dezember 2020 doch noch zu einem Abkommen zwischen der Europäischen Union und dem – austrittswilligen – Vereinigten Königreich gekommen. Damit konnte der allgemein nicht gewünschte “harte Brexit” verhindert werden. Das Abkommen regelt seit dem 1.1.2021 die Beziehungen der EU mit dem nunmehrigen Drittstaat Vereinigtes Königreich. […]...