Client Alerts

Vienna Rules 2018 (In Force as from 1 January 2018) Domestic Cases A major revision is the competence of VIAC to administer domestic cases (from 1 July 2018 onwards) even if all parties have their seat or domicile in Austria. The competence to administer international cases remains unchanged.    Electronic Database    The installment of an electronic […]...

Update on Hungary’s solar boom – significant benefit to photovoltaic projects licensed under mandatory offtake system upon applications submitted before 2017 Introduction While no more application for Micro PVPP licenses in the mandatory offtake system can be submitted anymore as of 26 April 2018, it seems that the Government acknowledged that the projects licensed under […]...

Kindly be informed that over the past days a Corrigendum Deed amending several provisions of EU Regulation No. 2016/679 on the protection of individual rights with regard to the processing of personal data Directive no. 95/46/GDPR was published on the European Union Council’s website. The corrigendum refers to all GDPR versions translated in EU members […]...

Renewal of the Procedural Regime The Hungarian civil procedural rules underwent a sweeping reform in 2017, affecting the entire dispute resolution area, including both litigation and arbitration. The brand new regime better reflects the requirements of the 21st century and thus may give rise to a modern, professional and effective handling of procedures. New Arbitration […]...

The latest amendment to the National Court Register Act ("Act") introduces many changes that will significantly affect its functioning and obligations of entrepreneurs. It is a part of the package of bills known as the "Constitution of Business", which aims to reform and simplify the regulations on conducting business activity and to prepare the National Court Register ("NCR") for integration with EU commercial registers.(*) As a result, the Act emphasizes improvements to the functioning of the NCR, including complete digitalization of proceedings. The solutions contained in the Act will be introduced in stages. The Act itself came into force on March 15, 2018, however some regulations, primarily those requiring major changes to the electronic system, will come into effect from April 9, 2018 to March 1, 2020. In this edition of Wolf Theiss' newsletter, we highlight the most important of these changes. (*) The Act implements the Directive of the European Parliament and of the EU Council of 14 June 2017 (2017/1132) relating to certain aspects of company law....

On 14 May 2018, a draft law (PL no. 190/2014) regarding certain measures for the rehabilitation of tourist facilities of national interest was included on the agenda of the Chamber of Deputies. Should this draft law be approved and adopted, the impact could be significant. It would impose on hotel and hostel owners the obligation […]...

On 4 June 2018, the Romanian Official Gazette published Government Emergency Ordinance, which had been approved since 24 May 2018 ("GEO 45/2018"), regarding amendments and supplements to certain laws with impact on the public procurement field. This mainly relates to the public procurement legislative package adopted in 2016, but also impacts other related procurement regulations....

On 25 May 2018 the Parliament of the Republic of Serbia adopted the anticipated Law on the Central Register of Ultimate Beneficial Owners (the “Law”). The Law came into force on 8 June, at which point, the entities required thereunder and their authorized persons will have 30 days to identify their Ultimate Beneficial Owners (UBO). […]...

As of May 2018 the new Ordinance on the Rules and Requirements for Creation and Storage of Electronic Documents at the Employee’s File [1] (the 'Ordinance') entered into force in Bulgaria allowing employers to keep electronic records of employees....

On 24 June Law no. 129/2018 entered into force.  It had been published in the Romanian Official Gazette no. 503 of June 19, 2018, and it amends and supplements Law no. 102/2005 on the setting up, organization and functioning of the National Supervisory Authority for Personal Data Processing, as well as repealing Law no. 677/2001 […]...

The new Hungarian Government has submitted its draft act setting out the rules to enable screening of foreign acquisitions of certain Hungarian strategic companies engaged in providing strategic services (such as finance and telecoms) or otherwise handling critical infrastructure or technologies by investors having their background outside the European Union (EU), the European Economic Area […]...

A Kormány 2018. június 19-én nyújtotta be 2019-es adótörvény módosítási csomagját, amely több területen is jelentős változásokat irányoz elő. Jelen hírlevelünkben a lényegesebb módosítási pontokat foglaltuk össze....