Client Alerts
Nullity of loan agreements concluded with foreign lenders in Croatia
Following the initiative of several consumer organizations, and based on allegations that the constitutional order has been disrupted by the lending operations of unauthorized foreign lenders, the Croatian Parliament unanimously passed the Act on Nullity of Loan Agreements with International Elements Concluded in the Republic of Croatia with Unauthorized Lenders ("Act") which entered into force on 29 July 2017. The Act has already been labelled as controversial for its retroactive effect and Croatia seems to continue down the path started by the 2015 amendments to the Consumer Credit Act forcing a retroactive conversion of CHF denominated loans....
The new security of gas supply regulation on the horizon – The view of Austria, Bulgaria and Slovenia
On 16 February 2016, the European Commission officially presented the new Energy Security Package, which aims at increasing the role of the EC in the energy sector by introducing a series of changes....
Is the internet killing retail lease agreements?
Since the digital age began, models for computing the rent for retail spaces have remained basically unchanged: lease agreements provide for a base rent while high-traffic locations as in, for example, shopping centres, provide an additional component dependent on revenue....
Ukraine: Vertical block exemption regulation expected to be adopted
Ukrainian competition law currently lacks guidance on various legal questions, including vertical restraints; legal uncertainty exists even with regard to clauses regularly used in distribution agreements in other jurisdictions. It is therefore a welcome development that the Antimonopoly Committee of Ukraine (the "AMC") is working on a draft Vertical Block Exemption Regulation (the "Draft Regulation"). It is doing so in view of the requirements under the Association Agreement between Ukraine and the European Union....
Important changes in Austrian competition law – An overview
On 25 April 2017, important changes ("Amendments") to Austrian competition law entered into force - a number of changes will enter into force at different times....
The end of unilateral changes of interest rates by Slovak banks?
By 2016, interest rates set by the European Central Bank reached historic lows. For this reason, a mortgage loan has become a more common way of financing the purchase of real estate. However, it is to be expected that, at some point, the current interest rates will be subject to alteration. Consequently, mortgage loan agreements usually contain a provision authorizing the bank to unilaterally increase the respective interest rate. Hence, it is particularly significant that one of the most frequently used banking products on the Slovak market is the mortgage with variable interest rates, with their possible fixation during the subsequent 3-5 year period....
Regulation (EU) 2017/1128 of the European parliament and of the council on cross-border portability of online content services in the internal market
OVERVIEW With the adoption of Regulation (EU) 2017/1128 on the cross-border portability of online content services in the Union ("Portability-Regulation"), a major step towards abolishing geo-blocking in Europe was taken. The new Regulation will make online services even more attractive for consumers and together with the abolition of roaming charges which already entered into force on 15 June 2017, it is one of the objectives of the digital single market strategy to create a truly internal market for digital content and services....
Lex mercator passed in Slovenia in response to Agrokor’s sistress
The New Law Aims at Protecting Entities against the Negative Effects of Insolvency by their Majority Owners...
Betriebsanlagenverfahren neu
Elektronische Aktenführung hat auch in den Verwaltungsverfahren Einzug gefunden und unter anderem zu einer Verfahrensbeschleunigung beigetragen. Dem soll in der Novelle der Gewerbeordnung (GewO) Rechnung getragen werden:...
A review of the first six months of the revised Hungarian merger control regime
Amendments to the Hungarian Competition Act from earlier this year concerned rules relating to merger control thresholds as well as to conducting of merger control reviews....
Solar boom in Hungary
RES financial incentive scheme in Hungary – Impacts on the regulatory and investment environment of the development of photovoltaic power plants...
New ICC rules effective as of 1 March 2017
Arbitration is becoming more efficient and transparent and less expensive thanks to recent revisions to the ICC Rules of Arbitration. The ICC Court has introduced rules for expedited arbitration procedures for small claims. Venus Valentina Wong of Wolf Theiss is co-editor and co-author of a new publication that includes a commentary on the new ICC Rules and what they mean for arbitrators, counsel and other interested parties....