Legal Insights
Each week, Legal Insights offers a brief but insightful treatment of a topic of current legal interest. Whether it’s a short article on a recent legal development or an interview with one of our leading legal experts, Legal Insights promises to be both informative and interesting reading.
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| Date | Title |
|---|---|
| 06. 02. 2012 |
Austria: Advantages of Establishing a Company's Headquarters in Austria: Part 1
Choosing or changing a multinational company's headquarters involves considerations of quality of living and political stability in addition to economic and legal issues. This arti-cle, in two parts, outlines some of the advantages of and basic information about choos-ing Austria for a company’s headquarters. Part 1 is an overview of Austria's social and political background and of some legal forms to consider for a holding company. Part 2 will introduce Austrian tax law and provide additional legal information. |
| 30. 01. 2012 |
Hungary: Why is equity protection ineffective in Hungary?
The Hungarian Companies Act ("CA") and others have long contained provisions to protect creditors. One provision prohibits a limited liability company from paying dividends to its shareholders if it does not have sufficient funds. |
| 23. 01. 2012 |
Austria: Termination of contracts after initiation of insolvency proceedings
One of the primary objectives of the reformed Austrian Insolvency Act ("IO"), which entered into force on 1 July 2010, has been to increase the number of successful corporate reorganisations and to facilitate the continuation of business operations during financial crises. After the initiation of insolvency proceedings, the creditors of an insolvent debtor shall not be entitled to revoke or terminate contracts that are essential for continuing the debtor’s business operations. |
| 16. 01. 2012 |
Hungary: Court Awards Record EUR 10 million in Damages for Industrial Spying in the Pharmaceutical Sector
In its first instance judgment, the Metropolitan Court ordered more than one year’s imprisonment for industrial spies and awarded approximately 10 million euros in damages. |
| 12. 01. 2012 |
Austria: Mandatory declaration of minimum remuneration in job postings
The latest amendment of the Austrian Act on Equal Treatment (Gleichbehandlungsgesetz – GlBG; in force since 1 March 2011) sets into force a provision requiring the declaration of minimum remuneration in job postings. As of 1 January 2012, any infringement of this provision may lead to sanctions. |
| 09. 01. 2012 |
Molodva: New Act on Personal Data Protection in Moldova
On 8 July 2011 the Parliament of the Republic of Moldova passed Act No. 133/2011 on personal data protection in Moldova (Act No. 133). Act No. 133 will enter into force from 15 April 2012 and implements new norms on the protection of individuals with regard to the processing of personal data, registration procedures (notification) for processors of personal data, and rules on the cross-border transfer of personal data. |
| 05. 01. 2012 |
Bulgaria: VAT regulations on construction right transfers amended
From 1 January 2012, the transfer of a construction right will be VAT exempt only until the construction permit is issued. The previous regime had allowed the exemption until the completion of the rough construction. |
| 21. 12. 2011 |
Moldova: New Rules for Business Activity Authorisations
On 22 July 2011 the Parliament of the Republic of Moldova adopted Act No. 160 on the regulation of business activity through authorisations (Act No. 160), providing for new rules on the authorisation of business activities in the Republic of Moldova (Moldova). Most of the provisions of Act No. 160 will enter into force on 14 April 2012, six months after its publication in the Official Gazette. The law is the Moldovan authorities’ effort to make it easier and more transparent to set up and conduct commercial activities in Moldova. |
| 19. 12. 2011 |
Slovenia: Implementation of ZPUOOD suspended in less than a month
The Circuit Court of Ljubljana filed a request to review the constitutionality of Arts. |
| 14. 12. 2011 |
Austria: New Approval Regime on Acquisitions of Austrian Companies in Certain Industry Sectors by Non-EU/EEA and Non-Swiss Persons
An amendment of the Austrian Foreign Trade Act (FTA), in force since 08/12/2011 subjects the acquisitions of relevant interests in enterprises in specific industries, including telecoms and energy, to review and approval by the Austrian Ministry of Economic Affairs |
