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Legal adviser Wolf Theiss expects 10-15 M&A transactions in Poland in 2015
Legal adviser Wolf Theiss sees its pipeline of pending M&A transactions in Poland more robust than it has been in recent years and expects to carry out between 10 and 15 M&A transactions this year, more by a third than last year, a co-managing partner at the Warsaw office of the consultancy told DealWatch....
HETA Asset Resolution- Temporary moratorium imposed by FMA (German)
On 1 March 2015, the Austrian Financial Market Authority has initiated the resolution of HETA ASSET RESOLUTION AG. In substance, the resolutoin measures are modelled along the new European resolution regime for Banks ("Bank Recovery and Resolution Directive - BRRD"). Click "Read More" to view the German version of the alert....
Natural gas & electricity transactions reporting requirements
On 7th of January 2015 the European Commission adopted Commission Implementing Regulation (EU) No 1348/2014 on data reporting implementing Article 8(2) and Article 8(6) of Regulation (EU) No 1227/2011 of the European Parliament and of the Council on wholesale energy market integrity and transparency (REMIT)....
New EU data protection rules knocking on the door
"This reform is a necessity, and now it is irreversible. Europe`s directly elected parliamentarians have listened to European citizens and European businesses and, with this vote, have made clear that we need a uniform and strong European data protection law, which will make life easier for business and strengthen the protection of our citizens" - said Vice-President Viviane Reding, the EU`s Justice Commissioner....
Brussels I (recast) – Recognition of EU judgements in Bulgaria
Regulation (EU) No 1215/2012 of the European Parliament and of the Council of 12 December 2012 on jurisdiction and the recognition and enforcement of judgments in civil and commercial matters (recast) entered into force throughout the European Union on 10 January 2015. The new Regulation simplifies the recognition and enforcement by each European Member State of judgments made in another Member State. It also provides enhanced rules on exclusive jurisdiction clauses, related proceedings and the exclusion of arbitration from the scope of the Regulation....
Rechtssicherheit adé? EuGH beschränkt Wirkung der Transparenzbekanntmachung
Der EuGH hat sich in einer kürzlich ergangenen Entscheidung mit der Wirkung von so genannten "freiwilligen ex ante-Transparenzbekanntmachungen" (in der Folge "Transparenzbekanntmachung") auseinandergesetzt....
Bulgaria – Shareholder rights and loses of corporate licences
On 13 January 2015 the Bulgarian Supreme Administrative Court ("SAC") dismissed an appeal by the shareholders of Corporate Commercial Bank AD ("CCB") against a decision of the Bulgarian National Bank ("BNB") terminating the company’s banking license, and thus triggering insolvency proceedings....
An uncertain future for the assets of non-re-registered Bulgarian companies
On 31 January 2015 the term for filing for the liquidation of companies that were not re-registered with the Bulgarian Commercial Register (CR) before 31 December 2011 expires. This deadline is important, first, for investors that hold shares in such companies that still have assets and, secondly, for the creditors of such companies....
ANRE order 78/2014
ANRE Order no. 78/2014 on the approval of the Regulation for the execution of bilateral power purchase agreements via extended tender, continuous negotiation and processing contracts entered into force on 1 January 2015. As implied by its name, the Regulation provides for three different transaction methods for electricity trading....
Bucharest: New electricity trade regulations in Romania
New electricity trade regulations were put into force. Market participants that were already registered with the centralized market for bilateral electricity sale-purchase agreements will have to sign new participation conventions. This deadline for carrying out these formalities is set until 27 February 2015....
Austrian act on recovery and resolution of banks entered into force
On 1 January 2015, the Austrian Act on the Recovery and Resolution of Banks entered into force. The BaSAG (Bundesgesetz über die Sanierung und Abwicklung von Banken - BaSAG) transposes the Bank Recovery and Resolution Directive (BRRD) into national law which provides relevant resolution authorities with common tools and powers to address banking crises pre-emptively to ensure financial stability....
Amendments to pension insurance act
New deadlines for submitting mandatory pension insurance applications to the Croatian Pension Insurance Institute The Pension Insurance Act (Official Gazette No. 157/13) was amended by an Ordinance of the Government of the Republic of Croatia (Official Gazette No. 151/14) effective 1 January 2015. The most significant change relates to the deadlines under which employers, as mandatory contribution payers, need to report the beginning of mandatory pension insurance for their employees to the Croatian Pension Insurance Institute (“HZMO”)....