Client Alerts

Operator of a Wi-Fi network cannot be held liable for copyright infringements committed by users of that network...

By 27 December 2016, the Croatian Parliament needs to implement the Directive 2014/104/EU on antitrust damages actions ("Damages Directive"), which is expected to streamline the procedure for private individuals and businesses to sue for damages in cases of competition law infringements. Will Croatia be successful in taking its cut of one of the fastest growing niche areas in law, which in the EU alone is estimated at EUR 20 billion?...

Die Argumentation und Durchsetzung komplexer Mehrkostenforderungen beinhaltet zweifelsohne zahlreiche Herausforderungen auf technischer, aber vor allem bauwirtschaftlicher und juristischer Ebene. Zu den herausforderndsten Aufgaben zählt sicherlich die kompetente Begründung und korrekte Bezifferung von behinderungsbedingten Mehrkostenforderungen ("Leistungsstörungen")....

At the press conference held on Tuesday, September 20th, Poland's Minister of Finance, Mr. Paweł Szałamacha, announced that the application of a retail sector tax will be suspended following the European Commission's decision on opening an in-depth investigation and issuance of an interim injunction. The tax in question was adopted by Poland in July 2016 and entered into force on 1 September 2016. The first payments were due in October 2016....

On 12 August 2016 the European Banking Authority (EBA) published a Consultation Paper on draft regulatory technical standards on strong customer authentication and common and secure communication under the revised Payment Services Directive (EU) 2015/2366 (PSD2)....

The new Merger Clearance Regulation that entered into force on 19 August 2016, can be considered as another step towards harmonizing Ukrainian legislation with EU law. The Regulation, though not yet ideal, contains a number of positive developments that we expect significantly to simplify, shorten and make the process of gathering required information by notifying parties as well as the merger filing process itself more cost-efficient....

The Bulgarian National Bank (BNB) released the results of the banking system overview, which was initiated earlier this year. Pursuant to the report of the national regulator on the outcome of the asset quality review (AQR) and the stress tests, that was announced recently (Report), the domestic banking sector successfully passed this, first-of-its-kind, system–wide assessment. The tests in Bulgaria were extended throughout all 22 locally licensed banks, with the exception of the 6 branches of foreign banks operating in the country. As a result, the domestic exercise had a broader scope than its Eurozone counterpart, which only covered the banking institutions of systematic importance....

The European Securities and Markets Authority (“ESMA”) has published its second set of advice (the “Advice”) on the possible extension of the Alternative Investment Fund Managers Directive (“AIFMD”) passport to non-EU alternative investment funds managers (“AIFMs”) and non-EU alternative investment funds (“AIFs”)....

As of 1 July 2016, nearly all contracts concluded with the Czech State must be published in the Register of Contracts (the "Register"). This obligation was introduced by the new Czech Contract Register Act (1) (the "Act"). This article briefly summarizes the core scope of the Act and its application....

On 27 July 2016, the President of the Czech Republic signed a new Consumer Credit Act (the "CCA") that brings substantial changes to the provision of consumer (and mortgage) credit (the "credit"). The new legislation will affect, among others, also traders, acting as credit intermediaries, who provide consumers with credit for purchasing their goods or services. Please find below a brief summary of selected essential changes introduced by the new CCA. The novelties primarily concern credit providers, credit parameters and the protection of consumers....

The Ministry of Public Finances and Ministry of Agricultural and Rural Development issued order no. 1155/868/2016 establishing those agricultural products and services for which a reduced V.A.T. rate now applies ("Order 1155/868")....

On 1 July 2016 an Act amending and supplementing the Act for Economic and Financial Relations with Companies Registered in Jurisdictions with Preferential Tax Regime, their Related Parties and Beneficial Owners (the "Act") entered into force in Bulgaria....