Client Alerts
How to avoid errors in public procurement funded by EU
On 30 October 2015 the European Commission published a new Guidance to assist contracting authorities across the EU member states to avoid the most common errors in planning and delivering purchases of public works, supplies or services funded by the European Structural and Investment Funds ('Guidance')....
Amendments to the law on personal data processing and protection of private life in the electronic communications sector
Law no. 235/2015 for the amendment and supplementation of Law no. 506/2004 on the personal data processing and protection of private life in the electronic communications sector ("Law 235/2015") was published in the Romanian Official Gazette no. 767 of 14 October 2015 and entered into force on 17 October 2015....
IP & IT newsticker in CEE/SEE – October 2015
Our regional firm is one of the leading firms with a focus on IP/IT practice and, naturally, we monitor the progress within this sector very closely. Below, please find up-to-date summaries of the news from the IP/IT sector in the region that might be interesting for you....
Slovakia: Public Procurement
BUSINESS WITH THE PUBLIC PROCUREMENT AUTHORITIES: NEW REQUIREMENTS. The Slovak Act on Public Procurement no. 25/2006 Coll. ("Act") was recently amended by the Act no. 252/2015 ("Amendment"). In this respect, a new register of final beneficiaries will be established by the Slovak Office for Public Procurement ("ÚVO") on 1 November 2015. (...)...
Negativzinsen beim Kreditvertrag
DERZEITIGER DISKUSSIONSSTAND. Die Frage, wie Zinsen – berechnet aus einem Referenzzinssatz wie z.B. EURIBOR und Marge – in bestehenden Kreditverhältnissen zu interpretieren sind, wird derzeit heftig diskutiert. Dies insbesondere dann, wenn diese Verträge keine Regelung dahingehend enthalten, was bei einem negativen Indikator gelten soll. Im Raum stehen dabei im Wesentlichen zwei Szenarien. Alternative 1: der negative Referenzzinssatz wird bei null oder nahezu null "eingefroren", d.h. die Marge bleibt voll erhalten. Alternative 2: der negative Referenzzinssatz schlägt durch und reduziert (bei entsprechend niedrigem Wert) die Marge bzw. könnte dazu führen, dass sich der gesamte Sollzinssatz ins Negative dreht und damit der Fall eintritt, dass der Kreditgeber dem Kreditnehmer dieses negative Ergebnis gutzuschreiben hätte. (...)...
Bulgaria: Investment incentives under the 2014-2020 regional aid scheme
Following more than a year of discussions after the new General Block Exemption Regulation 651/2014 ("GBER") entered into force on 1 July 2014, in October the Bulgarian Council of Ministers has adopted amendments to the Implementation Regulation to the Bulgarian Investments Promotion Act ("IRIPA"). These set out the investment incentives that will be provided within the scope of regional aid for the period to 2020....
A grand chamber of the Polish supreme administrative court ruled on taxable revenue derived from an asset contribution to a capital company.
The written justification of the Polish Supreme Administrative court's ruling on taxable revenue derived from an in-kind contribution in exchange for shares of a nominal value lower than the fair market value of the contributed asset has recently been published. The oral justification of the ruling was published on 20. July 2015....
The end of the Madrid agreement
The last of the 95 members of the Madrid System, signatory only to the Madrid Agreement but not to the Madrid Protocol, has acceded to the latter. Thus, the Madrid System is now transformed into a One Treaty System with Algeria being the last member....
Reduction of time period for expedited state registration of proprietary rights to real estate and their encumbrances
The Cabinet of Ministers of Ukraine (the "CMU") has introduced new reduced time terms for the expedited state registration of proprietary rights to real estate and their encumbrances. As soon as the new rules become effective, the state registration of proprietary rights to real estate will be performed within five, three or one business day(s) or even within two hours from the moment of acceptance of an application, and subject to different amounts of fees payable for such expedited service. Previously, the expedited registration against a higher registration fee could be possible only within three business days from the moment of registration of the application....
НОВЕ ОБМЕЖЕННЯ НАЦІОНАЛЬНОГО БАНКУ УКРАЇНИ ЗАБОРОНЯЄ ВІДСТУПЛЕННЯ КРЕДИТІВ ВІД НЕРЕЗИДЕНТІВ
Національний банк України (далі – НБУ) вжив заходів з метою запобігання переведенню внутрішніх боргових зобов’язань резидентів за кредитами у зовнішні зобов’язання, відповідно до пояснень одного з високопосадовців НБУ, як основної мети прийняття постанови Правління НБУ № 551 від 20 серпня 2015 року (далі - Постанова), якою вносяться зміни до постанови НБУ № 354 від 3 червня 2015 року. В той же час, положення Постанови мають біль широке застосування та передусім обмежують права іноземних позикодавців за наданими українським позичальникам кредитами....
National bank of Ukraine takes actions to prevent conversion of borrowings
The National Bank of Ukraine (the "NBU") has taken actions to prevent the conversion of borrowings extended by Ukraine-based lenders to cross-border borrowings. This was announced by the top NBU official as the primary purpose of the new NBU regulation, no.551 of 20 August 2015 (the "Regulation") which supplements regulation no. 354 of 3 June 2015). However, the wording of the Regulation seems to be somewhat far-reaching and concerns the rights of the foreign lenders under cross-border borrowings extended to Ukrainian residents....
Novi zakon o radu
Novi Zakon o radu koji je Parlament Federacije Bosne i Hercegovine nedavno usvojio, objavljen u Službenim novinama FBIH br. 62/15 dana 12. avgusta 2015. godine, stupio je na snagu danas, 20. avgusta 2015. godine....