Client Alert

More than one month after the pivotal Schrems II decision of the Court of Justice of the European Union (CJEU), companies may still find themselves without clear guidance for the transfer of personal data to the US. The CJEU only defined key areas which must be reviewed when assessing the legal framework of the third […]...

Wolf Theiss M&A partner Florian Kusznier has contributed the Austrian chapter to Lexology's 2020 "Getting the Deal Through – Public M&A" guide, summarizing M&A transactional requirements and procedures governing publicly listed companies. The guide covers areas including types of business combinations, filings and public disclosure requirements, substantial shareholding regulations, shareholder rights of approval and appraisal, hostile transactions, break-up fees and frustration of additional bidders, conditional offers and minority squeeze-out....

The National Assembly of the Republic of Srpska (RS) enacted the Law on Changes and Amendments to the Concession Law which entered into force on 24 July 2020. The Law was published in the Official Gazette of RS no. 70/20. To learn more, please open the attached file....

The Association of the Austrian Pharmaceutical Industry has amended the PHARMIG Code of Conduct, effective as of 1 July 2020. All PHARMIG members (currently more than 100 companies) must comply with the code. The new changes include a new prohibition on product branding, a ban on undue benefits for representatives of healthcare or patient organisations, […]...

After a 10-year statutory ban on gambling, Ukraine has made a move towards the creation of a regulated gambling market. Even though the topic remains highly debated in Ukrainian society, it is expected that legalization of gambling should facilitate bringing numerous illegal business operators out of the shadows and attract foreign providers. On 11 August […]...

Valentina Wong and Alexander Zollner authored the Austrian chapter in the 11th edition of The Law Reviews' International Arbitration Review. Their contribution offers a comprehensive overview on topics which arise frequently in arbitrations, such as appointment and challenges of arbitrators, interim measures and judicial assistance, recognition and enforcement of arbitral awards as well as a review of the recent developments affecting international arbitration over the last year....

Legal communication in Croatia is moving online, including with the courts. By 1 September 2020, companies should register their email address in the court registry and implement the new e-communication system with the courts. The companies can also learn how to comply with e-signature requirements and how to complete contracts online. To learn more, please […]...

In mid-July, the Austrian legislature passed a new Investment Control Act – ICA (Investitionskontrollgesetz – InvKG) as proposed by the Austrian Federal Government. It is expected to enter into force and apply shortly after being signed by the Federal President and the Federal Chancellor and its publication in the Official Gazette (Bundesgesetzblatt – BGBl). By […]...

On 24 July 2020, the European Commission decided on a package of measures for the recovery of the capital markets. With respect to the Prospectus Regulation, the European Commission proposes temporary measures to address the economic impact of the COVID-19 pandemic and permanent changes to the information requirements and the right of withdrawal in connection […]...

The Romanian government issued a Government Emergency Ordinance which entered into force on 15 July 2020 in order to bring Romanian law in line with the provisions of AMLD 5, the most recent version of the EU’s Directive to combat money laundering and terrorist financing. The government ordinance aims to enhance “know your client” requirements, […]...

As of 15 July 2018, Romanian companies are allowed to distribute dividends to shareholders either quarterly or annually. The new system regarding quarterly distribution of dividends was implemented by Law no. 163/2018 amending and supplementing Accounting Law no. 82/1991, the Companies Law no. 31/1990 as well as Law no.1/2005 on incorporation and operation of cooperative […]...

European commission issues its first resale price maintenance decisions in over a decade fining four consumer electronics manufacturers for fixing online resale prices – monitoring software and pricing algorithms played a role. On 24 July 2018, the European Commission (“Commission”) fined, in four separate decisions, consumer electronics manufacturers Asus, Denon & Marantz, Philips and Pioneer […]...