Client Alerts
January 2017, new rules in financial business activities
The law on financial business activities in FBiH (law) aims at protecting and improving the position of small and medium-sized enterprises acting as creditors in financial transactions....
News from the Austrian parliament
Rights to withdraw from an Insurance Contract will be harmonised in Austria...
Central transportation port – Huge investment in the middle of Poland
THE PENNY HAS DROPPED It's official - the Central Transportation Port (formerly known as Central Airport) will be located between Łódź and Warsaw. It is expected to compete with Europe's largest airports. The construction decision was approved by the Economic Committee of the Council of Ministers on March 15. Currently the Ministry of Infrastructure and Construction together with the Ministry of Development are preparing a resolution regulating the financing, implementation, and operation of the Central Transportation Port (CPK)....
Special legislation aimed at rescuing Agrokor is now in force
On 6 April 2017 the Croatian Parliament passed the Act on Special Administration Procedure for Companies of Systemic Importance for the Republic of Croatia ("Act"), commonly referred to as Lex Agrokor. The Act was published on the same date and entered into force on 7 April 2017....
Das neue BVergG 2017 – Begutachtungsentwurf veröffentlicht!
Der Begutachtungsentwurf für das Bundesvergabegesetz 2017 ("BVergG"), mit dem das EU-Richtlinienpaket 2014 (siehe ABl Nr. L 94 vom 28.3.2014) nun (endlich) umgesetzt werden soll, liegt nun vor....
Der Beginn der Verjährungsfrist nach § 1489 ABGB
Binnen weniger Monate beschäftigte sich der OGH im Jahr 2017 mit der Frage des Zeitpunkts des Beginns der Verjährungsfrist für Schadenersatzforderungen. Grundsätzlich gilt, dass eine Schadenersatzforderung drei Jahre nach Kenntnis des Schadens und des Schädigers verjährt, die allgemeine Verjährungsfrist beträgt dreißig Jahre....
Important changes into Romanian competition law – An overview
On 8 June 2017, Emergency Government Ordinance 39/2017 ("EGO 39") entered into force and brought a number of important changes to the Romanian Competition law. The EGO transposes the EU Damages Directive (2014/104/EU) into Romanian law and introduces a number of other changes into Romanian competition law, including inter alia: (i) a specific obligation incumbent upon modern retailers to provide, (upon request), information to the Competition Council regarding their resale prices; (ii) additional powers of the Romanian Competition Council ('RCC') during dawn raids....
Update on mandatory electronic mailboxes for legal entities
As of 1 August 2016, the Slovak Republic instituted the mandatory use of electronic mailboxes (accounts) (hereinafter the "emails") for legal entities. The obligation was introduced by Act No. 305/2013 Coll., on e-Government as amended (hereinafter the "Act on e-Government"), whereby the respective state authority was obliged to activate the emails by 1 August 2016 without any further conditions....
The horizontal merger guidelines introduced by the Ukrainian competition authority
Ukrainian competition law and practice continues to improve. This also includes the actual practice of law application, interpretation and clarification by the Ukrainian competition regulator – the Antimonopoly Committee of Ukraine (the "AMC")....
ImmoEst und Hauptwohnsitzbefreiung – Was ist neu?
Die Hauptwohnsitzbefreiung bei Immobilienverkäufen wurde von der Finanz unter Berufung auf die Einkommensteuerrichtlinie nur bis zu einer Grundstücksfläche von 1.000 m² gewährt. Darüber hinausgehender Grundbesitz unterlag nach Ansicht der Finanz der Immobilienertragsbesteuerung....
Reminder regarding deadline in Romania for risk analysis for physical security: July 1st, 2017
According to the Government Decision no. 301/2012 on the approval of the Methodological Norms for the application of Law no. 333/2003 regarding the safeguarding of objectives, assets, valuables and protection of individuals ("GD no. 301/2012"), certain entities that hold assets or other valuables regardless of the title are required to ensure proper security measures for those assets/valuables....
Further pieces of MiFID II puzzle fall into place
TECHNICAL STANDARDS BECOME EFFECTIVE As 3 July 2017 gets closer, and January 2018 is also approaching rapidly, the regulators and the in-scope firms across Europe are well advanced in their efforts for transposing MiFID II....