[RedirectPrompt_en-US]

newsletters

country all
Legal area and industry all
year all
newsletter

Croatian Competition Agency examines legality of exclusivity clauses in lease agreements

more
newsletter

20 January 2021

serbia

Z.Šoljaga

Serbia: Competition authority opens investigation into potential RPM practice in consumer electronics market

more
newsletter

20 January 2021

austria

B.Rajal A.Farahmand

Austria: Network reserve to become part of congestion management system

more
newsletter

Czech Republic: Transfer of title to real estate via public auction

more
newsletter

14 January 2021

romania

T.Artenie

Romanian tax legislation has been substantially amended in recent days

more
newsletter

13 January 2021

austria

B.Rajal S.Orator-Saghy

Energiegemeinschaften – Gewerbeberechtigung erforderlich?

more
newsletter

10 January 2021

romania

T.Artenie

Numeroase modificări aduse recent legislației fiscale din România

more
newsletter

08 January 2021

austria

C.Haid H.Bellando

cee legislation tracker: austria

more
newsletter

07 January 2021

romania

V.Weiss G.Bădescu C.Manea

Romania: FDI rules soon to be tightened

At the end of December 2020, the Romanian Competition Council (the "RCC") published an updated iteration of the draft Emergency Government Ordinance implementing the FDI Regulation (the "FDI Draft Law").

more
newsletter

04 January 2021

austria hungary

C.Haid A.Nagy

Gatekeepers and the Digital Markets Act – CEE focused in-depth review

The Digital Markets Act proposal (DMA) is a collection of complex obligations imposed on certain digital service providers. We previously described the salient features of the DMA here.

more
newsletter

30 December 2020

bulgaria

G.Petkova

Bulgarian watchdog introduces pre-notification contacts in merger proceedings

As of 1 January 2021, Bulgaria's Commission for the Protection of Competition (the "CPC") will be available for pre-notification discussions. To this end, it has also published bylaws ("Rules") for such contacts (adopted by CPC decision 1005/10 December 2020).

more
newsletter

27 December 2020

hungary

D.Balogh A.Turi

Hungary: Spar Will Create Opportunities for Local Small Producers as a Redress for Abuse of Significant Market Power – a Unique Way to Avoid Fine

more
newsletter

23 December 2020

C.Haid F.Schneider

Cybersecurity on the rise: The NIS Directive 2.0

more
newsletter

23 December 2020

czech republic

C.Bock

Czech Competition Authority imposed fine on retailer for abuse of significant market power

The Czech Competition Authority (CCA) announced in a press release1 that it had imposed a fine of CZK 32m (approximately EUR 1.2m) on the Czech retail chain HRUŠKA, spol. s.r.o., for an alleged abuse of significant market power. The decision is not final and an appeal has been filed.

more
newsletter

22 December 2020

C.Haid A.Nagy

(Re)Shaping the digital EU: The European Commission's legislative proposal to manage digitalisation is finally here

The fast-paced changes brought about by digital technologies continuously challenge the slow-moving legal framework of the European Union.

more
newsletter

22 December 2020

M.Pressler H.Bellando

Austria: FMA präsentiert Aufsichts- und Prüfschwerpunkte für 2021

more
newsletter

20 December 2020

hungary

A.Bognár D.Balogh

Will It Be Easier to Litigate in Hungary from 2021?

more
newsletter

18 December 2020

M.Ebner H.Bellando

European Commission publishes its non-performing loans strategy in response to the COVID-19 crisis

On 16 December 2020 the European Commission (ECOM) presented its strategy to prevent a future build-up of non-performing loans (NPLs).

more
newsletter

18 December 2020

bulgaria

E.Todorova

Bulgaria: First legislative amendments introducing telemedicine/telehealth

On 16 December the Bulgarian Council of Ministers adopted a Decree amending the local Ordinance for exercising the right of access to medical care.

more
newsletter

16 December 2020

austria

B.Rajal A.Farahmand

Netzreserve neu

more
newsletter

Romania: New provisions on the sale of farmland located outside buildable areas

more
newsletter

14 December 2020

romania

C.Ştirbu C.Filip

Cyber security: the last days for operators of essential services in Romania to notify CERT-RO

Operators of essential services are required to notify CERT-RO - the national competent authority for security of networks and information systems - for registration in the Register of operators of essential services by 17 December 2020. Otherwise, these companies risk fines of, in some cases; up to 5 % of their turnover.

more
newsletter

13 December 2020

slovenia

M.Frantar M.Osojnik

Know Your Supply Chain: Proposal for EU-wide Mandatory Due Diligence Legislation

Supply chains have been in focus throughout 2020, and not only thanks to COVID-19. Earlier this year, the European Commissioner for Justice, Didier Reynders, announced that in 2021 the Commission would propose legislation on mandatory corporate due diligence covering human rights and environmental risks across a business's supply chain.

more
newsletter

11 December 2020

bulgaria

G.Petkova E.Todorova

Bulgaria: How safe is it to advertise a product as "homemade"?

On 19 November 2020 the Bulgarian Commission for Protection of Competition ("CPC") fined Olineza Premium OOD ("Olineza"), one of the biggest Bulgarian food producers, BGN 1,479,040 (approx. EUR 700,000) or 4 % of its 2019 turnover.

more
newsletter

10 December 2020

hungary

L.Krüpl

Hungary: Real estate developers not always aware of potential obligation in construction law

more
newsletter

10 December 2020

hungary

A.Nagy

Hungary: Compliance and competition enforcement in sales and promotions – where does Black Friday guide us?

more
newsletter

10 December 2020

romania

C.Ştirbu C.Filip

Securitate cibernetică: ultimele zile în care operatorii de servicii esențiale pot notifica CERT-RO

more
newsletter

07 December 2020

slovenia

E.Škufca T.Geč

The role of competition law in moving towards a more sustainable world

Across the globe, more and more companies are looking into ways to strengthen their environmental, social and corporate governance ("ESG") profile as investors realise that a strong ESG profile is the key to safeguarding a company's long-term profit and growth.

more
newsletter

03 December 2020

hungary

A.Bognár D.Gera

Hungary: Limited stay-at-home orders and travel restrictions: what are you allowed to do?

more
newsletter

03 December 2020

bulgaria

D.Kairakov

cee legislation tracker: bulgaria

more
newsletter

03 December 2020

czech republic

C.Bock

Czech Republic: Supreme Administrative Court backs gun-jumping decision

more
newsletter

27 November 2020

slovenia

E.Škufca T.Geč

Slovenia: Damages resulting from competition law infringements: Collective redress easing the way to compensation

The adoption of Directive 2014/104/EU ("Damages Directive"), which introduced a level playing field for the private competition law enforcement regime among EU Member States, has paved the way for private enforcement to gain more traction in the EU.

more
newsletter

27 November 2020

austria

V.Wolfbauer M.Trautinger

Dashcams – safety versus privacy? The Austrian perspective

more
newsletter

26 November 2020

slovenia

E.Škufca L.Avsenik

Slovenia: Competition Protection Agency investigates potential collusion among four LPG providers

more
newsletter

23 November 2020

romania

M.Neagu V.Săndulescu

Romania: New law on debureaucratising functioning of companies enters into force

Law 223/2020, which came into effect on 5 November 2020, has introduced a series of important changes to the Companies Law 31/1990.

more
newsletter

20 November 2020

hungary

A.Nagy

Hungarian authority gets a boost in enforcement against large retail chains

On 20 March 2015 the Hungarian Competition Authority ("HCA") imposed a staggering fine on Auchan for abusing its significant market power.

more
newsletter

19 November 2020

hungary

A.Bognár

cee legislation tracker: hungary

more
newsletter

13 November 2020

czech republic

H.Hangler

Czech Republic: Short-time work: Kurzarbeit – vision and current situation

more
newsletter

11 November 2020

slovenia

E.Škufca L.Avsenik

Slovenia: Novartis case: Is rebranding generic medicine to the originator brand name allowed?

more
newsletter

11 November 2020

romania

T.Artenie

Simplified instalment scheme for certain tax liabilities and other measures

Several fiscal measures were recently introduced by Emergency Ordinance No. 181/2020 on certain economic and fiscal budgetary measures ("GEO 181/2020").

more
newsletter

10 November 2020

romania

T.Artenie M.Moga-Paler

Romania: Amendments to fiscal legislation impacting employment relations

A series of fiscal measures were introduced in the Fiscal Code by Law No. 239/2020, amending and supplementing Law No. 227/2015 on the Fiscal Code.

more
newsletter

Status of Intellectual Property Offices in CEE

Due to the impact of COVID-19, several Intellectual Property Offices (IPOs) have announced adapted guidelines and information on the current status of proceedings and deadlines.

more
newsletter

05 November 2020

serbia

S.Petronijević Z.Šoljaga

Serbia: European Commission comments on Western Balkan countries' level of harmonisation of antitrust rules

The European Commission recently adopted the 'enlargement package' for 2020, which encompasses reports on candidate and potential candidate countries' progress towards EU accession. The progress reports contain, among other things, an assessment of the level of harmonisation of the Western Balkan countries' national competition laws with EU competition law and practice.

more
newsletter

Has Croatia implemented FDI screening mechanism?

On 2 October 2020 the Regulation on the Implementation of the EU Foreign Direct Investment (FDI) Screening Regulation (2019/452) (OJ L 79I, 21 March 2019) (the Implementing Regulation) entered into force.

more
newsletter

30 October 2020

croatia

A.Marjančić*

cee legislation tracker: croatia

more
newsletter

29 October 2020

hungary

A.Turi M.Kovács

Hungary: More pressure selling in hotel booking sector – cooperation with HCA prevents substantial fine

more
newsletter

cee legislation tracker: slovakia

more
newsletter

cee legislation tracker: czech republic

more
newsletter

23 October 2020

romania

M.Cojocaru S.Lehniuc

Romania: Call for project proposals for financing via the EU Modernisation Fund

more
newsletter

Wasser(kraft) marsch! Ein Überblick zum neuen Fördersystem für Wasserkraft

more
newsletter

20 October 2020

moldova

V.Iurkovski

What are the chances of enforcing a foreign arbitral award or court judgment in Moldova? Recent developments & practical tips

Moldova is a member state to the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards.

more
newsletter

19 October 2020

austria

B.Rajal A.Farahmand

Sparking change: Renewable Energy Expansion Act published for evaluation

On 16 September 2020 the eagerly awaited draft Renewable Energy Expansion Act (EAG) was published for evaluation.

more
newsletter

16 October 2020

hungary

A.Nagy

Investigation against TikTok in Hungary – how the HCA takes on the tech world

The Hungarian Competition Authority (HCA) has initiated an investigation against TikTok, the popular social media platform.

more
newsletter

North Macedonia's data protection law: ten months to comply

more
newsletter

15 October 2020

hungary

D.Gera A.Bognár

Hungary: COVID-19 travel restrictions are back

more
newsletter

14 October 2020

romania

S.Garofil S.Chirică

Procedura de avizare a documentațiilor de urbanism, îngreunată inutil de unele autorități

more
newsletter

12 October 2020

austria

V.Weiss C.Fladerer

EU FDI Screening Regulation enters into force

As of 11 October 2020 the EU FDI Screening Regulation is in force, ending the long wait for a Union framework to screen foreign direct investments.

more
newsletter

08 October 2020

austria

U.Rath T.Kulnigg

Austria: FMA publishes guidance on ICOs and token classification

The Austrian Financial Market Authority (Finanzmarktaufsicht, FMA) has recently published guidelines on how it views Initial Coin Offerings (ICOs) from a financial services regulatory perspective.

more
newsletter

A Legislative Boost to the Energy Sector in Montenegro

more
newsletter

05 October 2020

austria

S.Lukic

The Reference Mechanism in the EU-UK Withdrawal Agreement: Innovative or Simply Pragmatic?

In early September 2020, the United Kingdom (‘UK’) Secretary of State for Northern Ireland, Brandon Lewis, conceded in no uncertain terms that the UK Internal Market Bill would violate public international law, albeit only in “a very specific and limited way“.

more
newsletter

Slovenia: Expected developments and competition law considerations in the light of fuel market liberalisation

more
newsletter

Don Quijote aufgepasst: Ein neues Fördersystem für Windkraft kommt!

Begutachtungsentwurf zum Erneuerbaren Ausbau-Gesetz (EAG)

more
newsletter

28 September 2020

austria

M.Ebner U.Rath H.Bellando

Austria: Covid-19: Welche Unterstützungsleistungen der öffentlichen Hand kann ich beantragen?

Die durch die COVID-19 Pandemie verursachten wirtschaftlichen Auswirkungen betreffen eine Vielzahl von Unternehmen. Die Politik hat bereits mehrere Maßnahmen zur Erhaltung der Zahlungsfähigkeit und Überbrückung von Liquiditätsengpässen für die heimische Wirtschaft verlautbart.

more
newsletter

25 September 2020

austria

B.Rajal

Energie aus Biomasse und Biogas

more
newsletter

23 September 2020

austria

B.Rajal A.Farahmand

Hier kommt die Sonne(nenergie)

more
newsletter

22 September 2020

romania

V.Weiss G.Bădescu C.Manea

Romania plans to tighten its foreign investment screening rules

more
newsletter

21 September 2020

romania

M.Banu D.Trusculete

How can Romanian SMEs affected by the pandemic access the announced state aid scheme?

Following the European Commission's approval of Romania's state aid scheme to support small and medium-sized enterprises ("SMEs") and certain large enterprises affected by the COVID-19 pandemic, the Ministry of European Funds adopted the state aid scheme through a ministerial order, in the context of the economic crisis generated by the pandemic.

more
newsletter

20 September 2020

austria

B.Rajal S.Orator-Saghy

EAG-Entwurf: Energiegemeinschaften als neue Marktteilnehmer!

Der mit Spannung erwartete Begutachtungsentwurf des Bundesgesetzes über den Ausbau von Energie aus erneuerbaren Quellen (Erneuerbaren-Ausbau-Gesetz – EAG) enthält ua Regelungen zu Erneuerbaren-Energie-Gemeinschaften. Damit soll die Bürgerbeteiligung an der Energiewende und eine verstärkte dezentrale Energieversorgung in Österreich gefördert werden.

more
newsletter

17 September 2020

austria

B.Rajal A.Farahmand

Erneuerbaren-Ausbau-Gesetz (EAG)

Begutachtungsentwurf veröffentlicht –  Ein erster Überblick!    

more
newsletter

15 September 2020

romania

T.Artenie

Romania: Fiscal measures to stimulate the maintenance/ increase of equity levels

more
newsletter

10 September 2020

romania

M.Moga-Paler

Romania: New changes in labour law

Soon employers will have to amend their internal regulations in order to adapt them to the imminent labour law changes to be announced. At the same time, they should consider the opportunity of inserting new clauses into individual employment agreements, referring to the newly introduced conciliation procedure for labour disputes.

more
newsletter

07 September 2020

romania

V.Stropșa D.Trusculete

Romania: Public procurement and self-cleaning of cartel members

more
newsletter

06 September 2020

bulgaria

E.Todorova

New Foodstuff Act in Bulgaria

To a large extent, the draft of the new Foodstuff Act1 (New Law or the Law) was developed in 2015. However, its adoption was long discussed with the European Commission and postponed several times.

more
newsletter

04 September 2020

romania

T.Artenie

Măsuri fiscale pentru stimularea menținerii/ creșterii capitalurilor proprii

more
newsletter

28 August 2020

poland

P.Kułak

UOKiK publishes guidelines regarding competition-related fines imposed on managers

more
newsletter

Mandatory e-communication for companies seated in Croatia

The digitalisation of the Croatian court system is proceeding and e-communication is expanding. Snail mail and "paper" communication are on the verge of extinction. As of 1 September 2020, all legal entities will have to use e-communication with the court.

more
newsletter

Licitațiile publice și „reabilitarea” membrilor unui cartel

more
newsletter

24 August 2020

bulgaria

G.Petkova

Bulgaria: Administrative court repeals Eurohold-CEZ merger prohibition

On 3 October 2019 merger control proceedings were opened for the purchase of CEZ by Eurohold Bulgaria AD.

more
newsletter

24 August 2020

czech republic

C.Bock

City of Prague fined for unfair parking rules

In a first-instance decision, the Office for the Protection of Competition recently fined the City of Prague Kc980,000 (approximately €36,981) for creating anti-competitive parking conditions for hybrid vehicles.

more
newsletter

24 August 2020

romania

M.Moga-Paler

Noi modificări în legislația muncii

more
newsletter

A new era of work: Teleworking in Montenegro

more
newsletter

20 August 2020

austria

M.Blagojevic A.Amann

Transaction price mechanisms in times of COVID-19

After a record-breaking decade of M&A activity, the COVID-19 pandemic has caused the market to face unprecedented circumstances.

more
newsletter

20 August 2020

romania

M.Neagu V.Săndulescu

Romania: New steps towards debureaucratising functioning of companies

At the beginning of 2020, legislative initiatives were launched to debureaucratise the functioning of companies established in Romania.

more
newsletter

20 August 2020

hungary

D.Gera

Hungary: Access to employee emails – enhanced authority control

more
newsletter

13 August 2020

bulgaria

G.Petkova

Bulgaria: Competition analysis of production, transmission and supply of heating for household and non-household needs

The Commission for Protection of Competition (CPC) recently opened a sector analysis of the markets for the production, transmission and supply of heating for household and non-household needs and vertically connected markets.

more
newsletter

13 August 2020

slovenia

E.Škufca U.Picelj

Administrative Court revokes TV channel divestment order

more
newsletter

04 August 2020

romania

G.Bădescu C.Manea

Certain Romanian Competition Law provisions on hold (for now)

Several provisions of Competition Law no. 21/1996 (the "Competition Law") are currently suspended and may lose their legal effects beginning of September, following a recent decision issued by the Constitutional Court of Romania (CCR).

more
newsletter

04 August 2020

hungary

D.Gera L.Krüpl

Hungary: Impacts of COVID-19 on the labour and real estate markets | Podcast

The COVID pandemic and the subsequent state of emergency in Hungary have disrupted conventional methods of working, with most companies having successfully transitioned into home office – a modus operandi rarely used before.

more
newsletter

Montenegro: Insight into the New Companies Act

more
newsletter

03 August 2020

slovenia

E.Škufca U.Picelj

Slovenia: Court slashes Agrokor's gun-jumping fine to €1 million

more
newsletter

30 July 2020

hungary

A.Bognár

Hungary: New Consumer-friendly Guarantee Rules from 2021

more
newsletter

30 July 2020

austria

P.Feyl C.Grassinger

An apple a day keeps taxation away?

The General Court (GC) of the European Union ruled in favour of Apple in the state aid case regarding Apple's Irish tax structure, annulling the 2016 decision of the European Commission (EC).

more
newsletter

28 July 2020

romania

S.Pavel

New Romanian trademark law introduces new obligations and deadlines

Trademark owners and applicants must comply with a series of new obligations and deadlines, following the substantial amendment to Romanian trademark legislation.

more
newsletter

28 July 2020

czech republic

H.Hangler

Czech Republic: Managing director and invalid employment contract, work injury

(from the decision of the Supreme Court of the Czech Republic 21Cdo 2124/2018)

The Supreme Court of the Czech Republic recently issued an interesting decision concerning the employment of a managing director and an accident at work.

more
newsletter

New FDI rules come into force in Poland

New legislation that affects investments in Polish entities by investors from outside the EEA and OECD will enter into force on 24 July 2020.

more
newsletter

Czech Republic: Redundancies as an aftermath of the COVID-19 crisis and the financial context

more
newsletter

21 July 2020

hungary

A.Bognár

Hungary: Travel restrictions are coming back from 15 July

more
newsletter

20 July 2020

romania

V.Săndulescu

Romania eases procedure for setting up new companies

more
newsletter

17 July 2020

austria

G.Leissler

European Court of Justice invalidates "Privacy Shield" but affirms Standard Contractual Clauses

Decision of the CJEU dated 16 July 2020, Rs C 311/18

more
newsletter

Austrian Parliament adopts new FDI screening act

On 15 July 2020 the Austrian Parliament adopted a new FDI screening act (Investitionskontrollgesetz, "ICA"), following the trend to tighten the regulatory framework for foreign investment screening (read more here: Austrian government proposes new FDI screening act).

more
newsletter

EU Level Covid-19 support measures in banking and capital markets

more
newsletter

13 July 2020

bulgaria

G.Petkova

Derogation from EU competition rules for milk, potato and live plant and flower sectors

more
newsletter

09 July 2020

austria

C.Haid S.Khalil

Automotive: Go-ahead for level 3 Lane Keeping System

more
newsletter

Austria: Regulatory Sandbox ab September 2020 auch in Österreich

more
newsletter

How effective is the Romanian Land Book in safeguarding title and property rights?

more
newsletter

03 July 2020

poland

A.Stawiarska

cee legislation tracker: poland

more
newsletter

02 July 2020

hungary

A.Turi

HCA imposes record fine on Booking.com for unfair commercial practices

more
newsletter

Real estate measures in combatting the consequences of COVID-19 in CEE

more
newsletter

Energy: Bulgaria introduces licensing regime for natural gas traders

With a last-minute amendment of the Bulgarian Energy Act of 26 June 2020, natural gas trading becomes an activity subject to licensing by the Energy and Water Regulatory Commission (the "Energy Commission").

more
newsletter

29 June 2020

romania

C.Enaga M.Neagu

Romania: Streamlining procedure for declaring beneficial owners

more
newsletter

25 June 2020

hungary

D.Gera D.Gindl

Hungary: Data protection authority imposes highest post-GDPR fine

The Hungarian National Authority for Data Protection and Freedom of Information (the "Authority" or "NAIH") recently imposed a fine of HUF 100m (approx. EUR 285,000) on one of the biggest electronic communication service providers Digi Távközlési Szolgáltató Kft. ("Digi").

more
newsletter

cee legislation tracker: slovenia

more
newsletter

22 June 2020

austria

F.Schneider B.Rajal

Consultations on TAR NC and second amendment to Gas System Charges Ordinance

more
newsletter

19 June 2020

hungary

G.Szalóki

Hungary: Is a new world coming with the amendment of the Hungarian Insolvency Act?

more
newsletter

19 June 2020

austria

G.Leissler

Austrian parliament allows extension of the application period under the Austrian Epidemics Act

more
newsletter

Weitere Unterstützungen für die österreichische Wirtschaft verfügbar

more
newsletter

17 June 2020

romania

I.Sava M.Mitan

Concerned about food security? Buy farmland in Romania while you still can

more
newsletter

16 June 2020

romania

M.Florea G.Bădescu

Romania: More state incentives for large investments on the horizon

more
newsletter

16 June 2020

slovakia

P.Devínsky

Another amendment to the Slovak Labour Code changing rules of fixed-term employment

more
newsletter

15 June 2020

austria

M.Ebner

Nach der Krise ist vor der Krise

Haben Österreichs Banken hinreichend flexible Rahmenbedingungen, um die Realwirtschaft zu unterstützen?

more
newsletter

12 June 2020

slovenia

E.Škufca U.Picelj

Slovenia: CPA praises Coca-Cola for good business practices

more
newsletter

Czech Republic: Extension of Antivirus Programme and Introduction of Scheme C

On 25 May 2020, the Government of the Czech Republic decided to extend the Antivirus Programme until the end of August 2020.

more
newsletter

Hungary: The time needed for liquidation and forced deletion procedures has been extended due to coronavirus

On 28 May 2020, the Hungarian Government adopted amendments to the laws on company liquidation and forced deletion procedures to cushion the impact of the global coronavirus pandemic on the economy.

more
newsletter

The Unfair Competition Law is changing: new focus on companies with superior bargaining position l Romania

A draft Emergency Government Ordinance recently published on the Romanian Competition Council's (RCC) website sets the stage for several significant changes to Law 11/1991 (the Unfair Competition Law).

more
newsletter

COVID-19 disputes: Try to avoid, but be ready

COVID-19 has shaken the world as we know it from the ground up. Many industries have already been hit hard, but its full (negative) impact on the economy is yet to be seen.

more
newsletter

04 June 2020

romania

M.Cojocaru

Will the COVID-19 pandemic ramp up Romania's green ambitions?

The unprecedented economic crisis caused by the COVID-19 pandemic is severely impacting the electricity sector, with demand falling as much as 20 % in certain cases, according to data published by the International Energy Agency (IEA).

more
newsletter

03 June 2020

austria

V.Weiss C.Fladerer

Austrian government proposes new FDI screening act

On 27th May 2020 the Austrian government submitted a proposal for a new foreign investment screening act (Investitionskontrollgesetz) to the Parliament (the "Proposal").

more
newsletter

CEE ramps up screening of foreign direct investments (FDI)

FDI screening was for a long time a blank spot on the regulatory landscape for most countries in Central Eastern Europe (CEE). Unlike Western European Member States, so far relatively few countries in Central Eastern Europe (Austria, Poland, Hungary, Romania) had instruments that allowed vetting foreign investments; albeit often with little practical relevance.

more
newsletter

02 June 2020

romania

T.Artenie

New tax measures, including tax amnesty, adopted in Romania in response to COVID-19

New legislation, including amendments to the tax legislation and tax measures to support taxpayers during the COVID-19 pandemic, have been recently introduced in Romania.

more
newsletter

Slovenia introduces foreign investments screening rules

more
newsletter

Auswirkungen der COVID-19-Krise auf verfahrensrechtliche Fristen

more
newsletter

New foreign investments screening rules in Hungary

more
newsletter

27 May 2020

bulgaria

S.Ribanchova

Bulgaria: New relieved procedure for the publication of annual financial statements

more
newsletter

New foreign investments screening rules in Poland

more
newsletter

Czech Republic: Changes in real estate law from 1 July 2020

more
newsletter

Distressed M&A and selected Czech law specifics

more
newsletter

18 May 2020

romania

M.Florea

cee legislation tracker: romania

more
newsletter

18 May 2020

czech republic

C.Bock

Czech Republic: Constitutional Court upholds Act on Significant Market Power but declares 3% limit on marketing payments unconstitutional

In a recent decision, the Constitutional Court upheld the Act on Significant Market Power, despite demands for its repeal by a group of senators almost four years ago.

more
newsletter

14 May 2020

austria

S.Hödl S.Schulz

Transactions under political scrutiny – A new FDI regime in Austria

Following the adoption of the new EU framework for screening of foreign direct investments (see Schoenherr Newsletter 13.03.2019), the Austrian government recently published a draft bill to amend the current rules on foreign direct investments (FDI) into Austria.

more
newsletter

11 May 2020

austria

G.Leissler

Austria: Third COVID-19 Act: lawfulness of processing employee health data

more
newsletter

Further COVID-related employment law measures in Hungary

The Government of Hungary adopted further government decrees – which were promulgated in the Official Gazette on 10 April 2020 - in respect of employers with regards to the coronavirus disease.

more
newsletter

11 May 2020

turkey

cee legislation tracker: turkey

more
newsletter

Sanierungsinstrumente in der Krise

Gerade in aktuellen Krisenzeiten stellt sich für viele Unternehmer die Frage, wie sie ihr Unternehmen bestmöglich sanieren können, um so das Fortbestehen des Unternehmens zu sichern.

more
newsletter

Czech Republic: Top ten most common mistakes in terms & conditions for e-shops (not only) in the time of coronavirus

more
newsletter

05 May 2020

austria

A.Lopatka

Austria: Implications of COVID-19 for legal procedures under Austrian Environmental Law

more
newsletter

05 May 2020

austria

P.Madl P.Ocko

New rules for your customer area

more
newsletter

04 May 2020

czech republic

C.Bock

Czech Constitutional Court upholds Act on Significant Market Power but declares 3% limit on marketing payments unconstitutional

more
newsletter

Labour & Employment-related measures in combatting the consequences of COVID-19 in CEE

Find an overview of labour & employment-related measures in combatting the consequences of COVID-19 in the CEE region – status as of 5 May.

more
newsletter

30 April 2020

czech republic

C.Bock

Czech Republic: Competition authority seeks to obtain data from mobile phone operators

more
newsletter

30 April 2020

poland

A.Stawiarska

COVID-19: state aid scheme sets maximum prices and margins for certain goods I Poland

On 8 April 2020 the European Commission approved a state aid scheme worth Zl3.5 billion (approximately €700 million) for loans and guarantees to support the Polish economy in the context of the COVID-19 outbreak.1

more
newsletter

30 April 2020

slovenia

J.Primožič

Slovenia: Holding a remote General Meeting in a Slovenian limited liability company

more
newsletter

Czech Republic: LEX COVID – Changes to insolvency proceedings

The coronavirus pandemic has made life complicated for almost all businesses, especially from the financial point of view. Businesses thus face an increased risk of bankruptcy and subsequent insolvency proceedings.

more
newsletter

28 April 2020

czech republic

M.Gremillot

Czech Republic: Dismissals due to the coronavirus crisis

The economic hardship caused by the global outbreak of COVID-19 will inevitably lead many businesses to dismiss employees.

more
newsletter

28 April 2020

moldova

cee legislation tracker: moldova

more
newsletter

27 April 2020

bulgaria

G.Petkova

Bulgaria: CPC activity during COVID-19 crisis

On 13 March 2020 the government declared a national state of emergency as a result of the ongoing COVID-19 crisis. The state of emergency is currently in force until 13 May.

more
newsletter

24 April 2020

croatia

V.Mandarić*

Croatia: Intervention measures regarding insolvency and enforcement proceedings

more
newsletter

23 April 2020

romania

M.Roibu T.Artenie

Romania: Are Romanian companies ready for post-pandemic tax audits?

As part of the preventive measures taken to mitigate the impact of the COVID-19 pandemic, the Romanian tax authorities have limited the number of tax audits at taxpayers' premises for the duration of the state of emergency.

more
newsletter

COVID-19 – Effects on regulatory approvals in financial sector M&A transactions

M&A and corporate transactions (including mere group-internal restructurings) in the financial sector often not only require profound corporate law documentation, but also financial regulatory approvals from the competent authorities/regulators.

more
newsletter

21 April 2020

slovenia

P.Gorše

Slovenia: COVID-19 and breach of contract - debtors beware of foreseeability element

The COVID-19 pandemic is causing disruption throughout the commercial sector. Stakeholders are forced to shift their focus to mitigating the impact on the supply chain, customer relations, workforce, leases and more broadly business in general.

more
newsletter

21 April 2020

bulgaria

S.Ribanchova

Bulgaria: State aid in the age of COVID-19

During the COVID-19 outbreak businesses are facing the dilemma of whether to seek state aid or survive the crisis using their own resources.

more
newsletter

Czech Republic: Draft Act on Prohibition of Commercial Lease Termination

The Czech Parliament is set to pass a new act prohibiting landlords from terminating commercial leases if tenants fail to pay rent (the "Act").

more
newsletter

21 April 2020

austria

W.Tichy S.Aydin

Austria: E-Commerce als Rettungsanker in der Krise

more
newsletter

Czech Republic: LEX COVID and changes to corporate law

more
newsletter

COVID-19 and investment protection

As the world grapples with COVID-19, we are seeing some of the most unprecedented State measures of our time. 

more
newsletter

Poland: COVID-19 vs. lease agreements not covered by the governmental aid programme

The coronavirus pandemic is having a significant impact on all sectors of the economy. Many businesses are facing unexpected challenges and it is no different with commercial real estate leases.

more
newsletter

17 April 2020

austria

C.Haid

National competition authorities' advisory and enforcement in the context of COVID-19

more
newsletter

Bulgaria: Working remotely during the COVID-19 crisis - Is the risk for your trade secrets remote?

As the COVID-19 pandemic has rapidly spread across Europe, more and more companies have been forced to implement remote working arrangements for their employees.

more
newsletter

17 April 2020

austria

P.Madl P.Ocko

Austria: Das ist bei der Wiedereröffnung Ihres Geschäfts zu beachten

more
newsletter

CEE: EU & Competition Monthly Bulletin – April 2020

Stay informed about the latest developments in competition law in Central and Eastern Europe with Schoenherr's multi-jurisdictional newsletter.

more
newsletter

17 April 2020

austria

C.Haid

National agencies will not actively intervene in "necessary" company cooperation during the COVID-19 crisis

more
newsletter

17 April 2020

austria

P.Madl P.Ocko

Austria: This should be considered when reopening your business

more
newsletter

Hungary: Employment contracts and COVID-19

COVID-19 has created completely new challenges in the employment sector. As there is significant uncertainty and a need for detailed information about the situation, this article provides a timeline of employment-related measures that have been introduced to combat COVID-19 in Hungary.

more
newsletter

15 April 2020

hungary

G.Szalóki

Hungary: Further COVID-19-related developments in the Hungarian banking sector

more
newsletter

15 April 2020

bulgaria

K.Chakarova

Bulgaria: Tracking mobile devices and data protection - Where do we draw the line?

more
newsletter

14 April 2020

austria

P.Madl

Auswirkungen der Schließungen von Betriebsstätten auf Mietverträge

more
newsletter

14 April 2020

hungary

M.Kovács A.Turi

Hungary: What to consider in competition law with Covid-19

more
newsletter

Auswirkungen der COVID-19-Krise auf verfahrensrechtliche Fristen in gerichtlichen Verfahren

more
newsletter

10 April 2020

austria

P.Madl

Austria: Änderungen der Öffnungsbeschränkungen im Handels- und Dienstleistungsbereich ab 14.04.2020

more
newsletter

10 April 2020

croatia

D.Vlahov Buhin*

Croatia: COVID-19 information on financial support for employers

more
newsletter

Corona Crisis: Amendment of the obligation to file for insolvency in CEE

With the fourth law on COVID-19, the Austrian legislator has suspended the obligation of an overindebted debtor to file for insolvency until 30 June 2020, irrespective of the cause of the over-indebtedness.

more
newsletter

Serbia: Antitrust in the time of COVID-19 – Is close cooperation between competitors permitted?

more
newsletter

08 April 2020

croatia

D.Vlahov Buhin*

Croatia: The impact of COVID-19 on employment from the employer's perspective

Given the situation caused by the coronavirus pandemic in Croatia, the National Civil Protection Committee (Stožer civilne zaštite) has put in place numerous restrictive measures to protect the lives of all citizens.

more
newsletter

08 April 2020

romania

G.Bădescu M.Banu

State aid scheme to support Romanian SMEs in the context of the COVID-19 pandemic in light of the new amendments via GEO no. 42/2020

The Romanian government has finalised and adopted a state aid scheme to support SMEs in the context of the economic downfall generated by the global COVID-19 pandemic.

more
newsletter

08 April 2020

austria

R.Perner

Aktuelle gesellschaftsrechtliche Maßnahmen nach COVID-19-GesG und COVID-19-GesV

more
newsletter

Slovenia: Secure your receivables while enforcement is suspended

more
newsletter

07 April 2020

austria

G.Leissler

3. COVID-19-Gesetz: Datenschutzkonforme Verarbeitung von Gesundheitsdaten der Dienstnehmer

more
newsletter

07 April 2020

austria

A.Lopatka B.Schlatter

Austria: Fragen, Antworten und Praxisbeispiele zu den COVID-19 Sonderverfahrensvorschriften für Verwaltungsbehörden, VwG, VwGH und VfGH

Austria: Fragen, Antworten und Praxisbeispiele zu den COVID-19 Sonderverfahrensvorschriften für Verwaltungsbehörden, VwG, VwGH und VfGH (einschließlich Update zum 4. COVID-19-Gesetz)

Aus Anlass der aktuellen COVID-19 Epidemie hat der österreichische Gesetzgeber knapp eine Woche nach dem 1. COVID-19-Gesetz (BGBl I 2020/12) ein weiteres Sammelgesetz (2. COVID-19-Gesetz, BGBl I 2020/16, in Kraft getreten am 22.03.2020) beschlossen.

more
newsletter

The impact of COVID-19 on M&A

The COVID-19 pandemic is expected to impact the process, timeline and documentation of M&A transactions in the turbulent times ahead of us.

more
newsletter

The impact of COVID-19 on submissions, deadlines and meetings with competition authorities in CEE

more
newsletter

06 April 2020

austria

C.Cudlik

Änderungen für Abfalllager und Abfallbehandlungsanlagen durch das 4. COVID-19-Begleitgesetz

Kapazitätsausweitungen der Abfalllager von Abfallbehandlungsanlagen bedürfen regelmäßig einer Genehmigung nach dem AWG. Durch das verstärkte Abfallaufkommen im Zuge der COVID-19-Krise sind nunmehr für einen beschränkten Zeitraum Verfahrensvereinfachungen für diese Kapazitätsausweitungen vorgesehen.

more
newsletter

06 April 2020

austria

C.Stegner P.Wetter

Austria: COVID-19 - Update Insolvenzrecht

Die COVID-19-Pandemie und deren wirtschaftliche Auswirkungen führten bisher zu insgesamt fünf umfassenden COVID-19 Gesetzespaketen.

more
newsletter

06 April 2020

slovakia

P.Devínsky

"Corona" Amendment to the Slovak Labour Code and governmental measures aimed at helping employers

In response to the coronavirus crisis, which is seriously impacting the Slovak economy and employment, the Government of Slovakia has proposed an amendment to the Slovak Labour Code which was quickly passed in Parliament.

more
newsletter

06 April 2020

slovenia

U.Picelj E.Škufca

Slovenia: CPA examines multi-apartment building management market

more
newsletter

06 April 2020

hungary

A.Turi M.Kovács

Hungary: Increased fines – HCA targets telecom companies

more
newsletter

06 April 2020

bulgaria

T.Krumov

Bulgarian Coronavirus Payment Moratorium and its effect on cross-border financial transactions

The Moratorium was not self-proclaimed by the Bulgarian Parliament as an overriding mandatory piece of law so the courts discretion in cross-border scenarios has been retained

more
newsletter

06 April 2020

slovakia

C.Holzer

Update zu den COVID-19 Sonderverfahrensvorschriften für Verwaltungsbehörden, VwG, VwGH und VfGH

Der Nationalrat hat am 20.03.2020 auf Grundlage eines Initiativantrags der beiden Regierungsparteien einstimmig das 2. COVID-19-Gesetz beschlossen (BGBl I 2020/16).

more
newsletter

Außerordentliche Kündigungsmöglichkeit des Mieters nach § 1117 ABGB

Nach § 1117 ABGB ist der Bestandnehmer berechtigt, auch vor Verlauf der bedungenen Zeit von dem Vertrag ohne Kündigung abzustehen, wenn das Bestandstück in einem Zustand übergeben oder ohne seine Schuld in einen Zustand geraten ist, der es zu dem bedungenen Gebrauch untauglich macht, oder wenn ein beträchtlicher Teil durch Zufall auf eine längere Zeit entzogen oder unbrauchbar wird.

more
newsletter

03 April 2020

hungary

V.Palguta G.Szalóki

Hungary: Overview of the COVID-19 support measures currently available by the Hungarian public sector

more
newsletter

Bulgaria: Are employers immune to the state of emergency? Which employers are entitled to receive financial aid and other key labour law and data protection matters

more
newsletter

02 April 2020

bulgaria

D.Vlaevsky

Bulgaria's State of Emergency Act suspends all payment obligations

Bulgarian Parliament declares COVID-19 pandemic a force majeure event by special law

more
newsletter

Czech Republic: Changes in the "Antivirus" Programme

more
newsletter

01 April 2020

bulgaria

D.Vlaevsky

Bulgaria: An overview of the effect of the Coronavirus (COVID-19) on the Bulgarian Real Estate Sector

The rapid spread of the COVID-19 pandemic is causing a severe impact on everyone's daily life, and is putting considerable strain on the economy as a result of the new challenges stemming from the pandemic. The real estate sector is no exception from this.

more
newsletter

Is Italian coffee really from Italy? What about the origin of Belgian chocolate? It will be clearer for consumers soon

Italian coffee, Belgian chocolate… Everyone apparently knows that coffee is not grown in Italy.

more
newsletter

01 April 2020

romania

T.Artenie

Romania: Tax consequences of the COVID-19 pandemic on companies in Romania

Despite the measures adopted for managing the effects of the COVID-19 pandemic with a view to helping or even saving Romanian businesses, it goes without saying that many companies will soon face difficult times, for which they need to be prepared.

more
newsletter

Poland: COVID-19 as force majeure

Since the outbreak of COVID-19, which the World Health Organization declared a pandemic on 11 March 2020, businesses all over the world have rushed to examine the force majeure clauses in their contracts.

more
newsletter

Selected provisions of terms & conditions for e-shops

Terms and conditions are an indirect arrangement that entrepreneurs and consumers both encounter when engaging in transactions.

more
newsletter

31 March 2020

bulgaria

D.Vlaevsky

Bulgaria: Insolvency during the state of emergency and creditor protection

Bulgaria has been in a state of emergency since 13 March due to the COVID-19 outbreak. On 23 March the Parliament voted on a special State of Emergency Act (COVID-19 Act) which suspended all court, arbitration and enforcement terms and proceedings during the state of emergency, currently in force until 13 April.

more
newsletter

Czech Republic: State supports actions to mitigate the impact of the pandemic

Czech businesses and citizens have recently been affected by the adverse effects of the state of emergency declared due to COVID-19 and related emergency measures taken by the government or the Ministry of Health.

more
newsletter

31 March 2020

hungary

A.Menczelesz L.Krüpl

Hungary: Overview of the effects of coronavirus on the Hungarian real estate sector

The coronavirus has seriously impacted daily life worldwide and given rise to considerable economic challenges. The real estate sector is no exception.

more
newsletter

30 March 2020

bulgaria

E.Todorova

Bulgaria: healthcare & life sciences in a global pandemic

Healthcare and life sciences have a special status as a type of legal practice. The debate about what this specialisation entails, and to what extent it even qualifies as legal work, is endless. However, as a crisis is also an opportunity, the coronavirus pandemic has defined the areas where law, healthcare and the life sciences overlap.

more
newsletter

Czech Republic: Overview of the COVID-19 support measures currently available by the Czech public sector

The Czech public sector provides a number of support measures to companies and natural persons affected by the COVID-19 pandemic.

more
newsletter

Business in Bulgaria under the new State of Emergency Law of 13 March: Suspended and postponed, but no actual economic support

Over the last few weeks, world leaders have likened the fight against COVID-19 to a war. Urgent measures are required to protect health and lives, justifying a wide range of economic measures, irrespective of their consequences.

more
newsletter

27 March 2020

bulgaria

E.Todorova

Bulgaria: Even in a state of emergency human rights must be respected!

more
newsletter

Croatia: Temporary measures to mitigate the consequences of the COVID-19 pandemic and Zagreb earthquake in civil, insolvency and criminal procedure law

On 14 March 2020, the Croatian Ministry of Justice issued recommendations to prevent the transmission of the novel coronavirus (COVID-19) and control the pandemic ("Measures").

more
newsletter

27 March 2020

czech republic

M.Gremillot

Czech Republic: Government Economic Recovery Measures

more
newsletter

26 March 2020

austria

M.Lindtner

Cyberattacks in the coronavirus crisis: A guide to decreasing risk

It's hard to believe, but some cybercriminals are trying to take advantage of the coronavirus crisis.

more
newsletter

New rules in CEE countries regarding exports of medical equipment and medicinal products

more
newsletter

25 March 2020

romania

M.Moga-Paler

Romania: Coronavirus: Impacts on employment in Romania

more
newsletter

Slovenia: Government anti-coronavirus support schemes for businesses

On 25 March 2020, the Government of Slovenia announced a EUR 2bln rescue package intended to mitigate the adverse and diverse effects of the COVID-19 pandemic. The package primarily seeks to maintain jobs by providing pay check support and tax relief to employers and introducing additional mechanisms to reduce the liquidity shock on businesses.

more
newsletter

25 March 2020

serbia

J.Rubežić

cee legislation tracker: serbia

more
newsletter

24 March 2020

austria

S.Kühteubl

Austria: Coronavirus: Impacts on employment in Austria

more
newsletter

24 March 2020

poland

B.Jóźwik

Poland: Coronavirus: Impacts on employment in Poland

more
newsletter

24 March 2020

austria

C.Stegner W.Höller

Coronavirus – Auswirkungen auf die Insolvenzantragspflicht?

Das Coronavirus stellt Unternehmen vor große Herausforderungen unterschiedlicher Art. Der eingeschränkte Betrieb, Stornierungen und das Ausbleiben von Kunden können auch bei sonst gesunden Unternehmen zu Liquiditätsproblemen führen und im Extremfall die Pflicht auslösen, einen Insolvenzantrag zu stellen. Zwar hat der Staat Hilfsmaßnahmen angekündigt, die Frage ist aber, wie rasch diese Maßnahmen kommen, wie schnell sie greifen und ob sie ausreichend sind.

more
newsletter

24 March 2020

austria

B.Vareskic

Austria: Coronavirus – How does it affect civil proceedings in Austria?

The coronavirus does not stop at court. That is why it creates uncertainty among litigants and even the public on whether and how to exercise subjective rights and enforce legal claims.

more
newsletter

Czech Republic: Obstacles to work on the part of the employer in connection with the coronavirus

Many employers currently find themselves in a precarious position, faced with deciding how to deal with the obstacles to work arising from the coronavirus crisis, irrespective of whether these obstacles are the result of government measures (total or partial restrictions on operations) or due to real operational reasons (difficulties in the supply of materials for production, drop in sales).

more
newsletter

23 March 2020

romania

G.Bădescu M.Banu

Romania: State aid available to Romanian companies in the COVID-19 pandemic

more
newsletter

News Alert Austria: Implications of legislative measures taken for merger control clearances in Austria

The Austrian Parliament has passed a series of further legislative measures to meet the Covid-19 crisis last week. These measures include a general stay of deadlines in administrative and court proceedings. The law is in force as of 23 March 2020.

more
newsletter

Slovakia: Coronavirus from the employer's perspective

Given the coronavirus crisis impacting the Slovak economy and employment, we have prepared an overview of information on (i) the recent measures introduced by the Slovak public authorities to prevent the spread of COVID-19 in the Slovak Republic, (ii) recommended prevention, (iii) possible measures to be taken by employers, and (iv) planed measures announced by the government of the Slovak Republic aiming to help business overcome the negative impact of the current crisis.

more
newsletter

Financing in times of crisis - Austrian Chapter

more
newsletter

23 March 2020

austria vienna

C.Holzer

COVID-19 Sonderverfahrensvorschriften für Verwaltungsbehörden, VwG, VwGH und VfGH

Der Nationalrat hat am 20.03.2020 auf Grundlage eines Initiativantrags der beiden Regierungsparteien einstimmig das 2. COVID-19-Gesetz beschlossen (BGBl I 2020/16). Neben zahlreichen wirtschafts-, sozial- und gesundheitspolitischen Maßnahmen wurde im Rahmen dieses Sammelgesetzes auch ein eigenes Bundesgesetz über Sonderverfahrensvorschriften für Verwaltungsbehörden, VwG, VwGH und VfGH beschlossen, um die (mittelbaren) Auswirkungen der Coronavirus-Krise auch in diesem Bereich einzudämmen (im Folgenden COVID-19-VerfG).

more
newsletter

The Serbian Commission for State Aid publishes a notice on the application of state aid rules during the coronavirus pandemic

In response to the ongoing coronavirus crisis, and following a similar announcement by the European Commission, on 17 March the Serbian Commission for State Aid Control ("Commission") published the Notice on the Application of the Rules for Granting State Aid in the Emerging COVID-19 Situation ("Notice").

more
newsletter

Auswirkungen der COVID-19-Krise auf Verjährungsfristen

Das 2. COVID-19 Gesetz, das nach der Kundmachung im Bundesgesetzblatt (BGBl 16/I/2020) mit Beginn des 22.03.2020 in Kraft getreten ist, enthält auch ein Bundesgesetz betreffend Begleitmaßnahmen zu COVID-19 in der Justiz.

more
newsletter

Hungary: Information notice on the conditions of employment with regards to the appearance and spread of the coronavirus

Information Notice on the conditions of employment with regards to the appearance and spread of the coronavirus (SARS-CoV-2) in Hungary

more
newsletter

22 March 2020

austria

P.Madl C.Benes

Baustellen in Zeiten der Coronakrise

more
newsletter

21 March 2020

romania

V.Săndulescu

Romania: Secret voting in general shareholders' meetings

The corporate functioning rules for joint stock companies have been repeatedly altered by Romanian legislation, especially in relation to the governing structures of companies, such as shareholders' assemblies and management bodies.

more
newsletter

20 March 2020

romania

G.Bădescu C.Manea

Trade associations must pay attention to competition rules! The risk of fines is real, even during the COVID-19 pandemic

Information conveyed recently via various communication channels in Romania suggests that joint measures and decisions are being adopted at the level of trade or employers' associations to respond to the challenges that the COVID-19 pandemic has raised.

more
newsletter

Czech Republic: What changes will impact your business in connection with COVID-19?

General overview of the coronavirus pandemic and current safeguards

more
newsletter

20 March 2020

hungary

V.Palguta G.Szalóki

Hungary: Extraordinary measures impact the Hungarian banking sector

On 18 March the Hungarian prime minister announced extraordinary measures to be taken as a result of the national emergency caused by COVID-19. Most of these measures have a strong impact on the Hungarian economy; in particular, the banking sector.

more
newsletter

20 March 2020

austria vienna

C.Benes

Bauvertragsrecht - Behinderungen der Leistungserbringung durch COVID-19

more
newsletter

19 March 2020

romania

C.Ştirbu V.Stropșa

State of emergency declared in Romania: main points for legal impact on companies

The President of Romania has declared a state of emergency in Romania as of 16 March 2020, for a duration of 30 days, in the context of COVID-19.

more
newsletter

Green light for green electricity l Slovakia

Up until the end of 2018, renewable energy sources (RES) generators in Slovakia were mainly subsidised in the form of a guaranteed feed-in tariff granted for 15 years, the amount of which depended on the date when the RES facility was put into operation.

more
newsletter

COVID-19 Update – Croatia – Tax / Banking & Finance

On 19 March 2020 the Croatian Parliament adopted a series of laws aiming to reduce the adverse effects of the coronavirus on the Croatian economy.

more
newsletter

18 March 2020

czech republic

M.Gremillot

Czech Republic: Coronavirus from the employer's perspective

With regard to the current situation related to coronavirus, below we provide information on (i) the latest measures adopted by the Czech authorities, (ii) recommended prevention, (iii) possible measures to be taken by employers, and (iv) where to find relevant information provided by public authorities.

more
newsletter

18 March 2020

austria

A.Farahmand B.Rajal

Informationen zu Ausfuhrbeschränkungen im Zusammenhang mit COVID-19

more
newsletter

16 March 2020

austria

I.Sirakova A.Natterer

Exportverbote für Arzneispezialitäten

Am 01.04.2020 tritt die Verordnung über die Sicherstellung der Arzneimittelversorgung ("AMVS-VO") in Kraft. COVID-19 war zwar nicht der Grund für die Erlassung der Verordnung, die Auswirkungen der Corona-Pandemie könnten jedoch schnell zum ersten größeren Anwendungsfall der AMVS-VO werden.

more
newsletter

16 March 2020

austria

A.Natterer I.Sirakova

Export bans for medicinal products

On 1 April 2020, the Ordinance on Ensuring the Supply of Medicinal Products (Verordnung über die Sicherstellung der Arzneimittelversorgung, "AMVS-VO" or the "Ordinance") will enter into force.

more
newsletter

16 March 2020

austria

I.Sirakova

Gold rush with disinfectants

more
newsletter

CEE: EU & Competition Monthly Bulletin – March 2020

more
newsletter

E-healthcare and telehealth become vital to tackling COVID-19 in CEE

Worried about COVID-19? During the outbreak, it is challenging for patients to seek in-person medical care.

more
newsletter

16 March 2020

austria

I.Sirakova

Goldrausch mit Desinfektionsmitteln

more
newsletter

Einführung von Kurzarbeit infolge des Coronavirus

Als Instrument zur Aufrechterhaltung des Beschäftigungsstandes hat sich die Kurzarbeit in wirtschaftlich schwierigen Zeiten, wie etwa während der Finanz- und Wirtschaftskrise 2008/2009, bewährt.

more
newsletter

12 March 2020

austria

G.Leissler

Grundlegende Information: Epidemiegesetz und Verordnungen

more
newsletter

12 March 2020

austria

G.Leissler

Die Meldepflicht unter dem EpidemieG: Datenschutzrechtliche Aspekte

more
newsletter

11 March 2020

austria

W.Tichy P.Ocko

Coronavirus – Auswirkungen auf Vertragsbeziehungen und kurzfristiger Handlungsbedarf (German)

Das Coronavirus stellt nicht nur die Gesellschaft allgemein, sondern auch die Wirtschaft vor große Herausforderungen.

more
newsletter

10 March 2020

austria

S.Kühteubl

Coronavirus: Arbeitsrechtliche Aspekte

In den letzten Tagen sind Arbeitgeber (AG) mit zahlreichen Medieninformationen und behördlichen Stellungnahmen zum Coronavirus konfrontiert worden.

more
newsletter

09 March 2020

czech republic

V.Pakosta

New regulation of real estate agencies | Czech Republic

A new Act No. 39/2020 Coll., on Real Estate Brokerage, came into effect in the Czech Republic on 3 March 2020.

more
newsletter

06 March 2020

austria

G.Leissler

Coronavirus – general legal information

The duty to report suspected coronavirus infections and the statutory basis for related compulsory measures is predominantly set forth in the Austrian Pandemic Act 1950 (Epidemiegesetz 1950) and its related ordinances and decrees, as issued by the Federal Ministry of Labour, Social Affairs and Consumer Protection.

more
newsletter

05 March 2020

austria

G.Leissler

Rechtliche Informationen zum Coronavirus (German)

Das Auftreten des Coronavirus in Österreich hat trotz aller behördlichen Bemühungen Unsicherheit und Informationsbedarf verursacht.

more
newsletter

02 March 2020

poland

A.Stawiarska

What's new for Polish companies in 2021? | Poland

2021 will be a year of changes for companies in Poland. With the recent postponement of the already announced innovations and the new obligations for joint-stock companies and joint-stock partnerships, companies have time to prepare for what's to come.

more
newsletter

28 February 2020

serbia

A.Radonjanin Z.Šoljaga

Serbia introduces opposition system: A major leap towards more harmonised trademark law | Serbia

more
newsletter

25 February 2020

romania

T.Artenie

Amendments to the tax restructuring scheme | Romania

more
newsletter

24 February 2020

austria

C.Cudlik C.Jirak

New opportunities for renewable energy: Austrian government programme 2020 to 2024 | Austria

more
newsletter

24 February 2020

bulgaria

G.Roussinova

Bulgaria: Approaching Deadline for Inactive Companies | Bulgaria

Pursuant to the Bulgarian Accountancy Act (Закон за счетоводството), companies must publish their annual financial statements in the Commercial Register and Register for Non-profit Legal Entities ("Commercial Register") by 30 June of the calendar year following the reported period.

more
newsletter

21 February 2020

hungary

G.Szalóki

Hungarian government settles pharma debts: An opportunity for factoring companies? | Hungary

Hungarian hospitals are facing problems paying for drugs and medical devices. Many suppliers have claims worth millions of euros and are having difficulty enforcing them against either the hospitals or the Hungarian government.

more
newsletter

19 February 2020

romania

G.Bădescu

Net & the City: Key takeaways for dominant companies and holders of essential facilities stemming from a recent fine imposed by the Romanian Competition Council

A recent fine imposed by the Romanian Competition Council (the "RCC") set off the alarm bells for companies holding essential facilities (and enjoying a dominant position on the market) and local authorities interested or involved in developing infrastructure projects.

more
newsletter

The four-eyes principle: Joint representation of executive directors and proxyholders | Czech Republic

The four-eyes principle is an effective way for companies to control management dealings. It is based on the idea that the company must be represented by two people acting jointly, usually two members of the statutory body.

more
newsletter

17 February 2020

austria

D.Hofmarcher A.Pabst

Impacts of the CJEU's e-book decision on the trade with digital goods | Austria

more
newsletter

17 February 2020

austria

L.Scheicher G.Ebner

Judicial authorisation of transfer of shares with restricted transferability | Austria

more
newsletter

14 February 2020

bulgaria

G.Roussinova E.Todorova

Bulgaria: New Legislation in the Rose Cultivation Sector

Bulgaria is well-known for its roses, more precisely its oilseed roses (маслодайни рози). Oilseed roses are famously used to produce rose oil, which is one of the most expensive oils, commonly referred to as "liquid gold".

more
newsletter

13 February 2020

austria

C.Jirak

Response to ECJ decision on measuring air pollutants | Austria

more
newsletter

11 February 2020

bulgaria

M.Gabrovska

Bulgaria: Deadline for Update of AML Internal Rules

Under Bulgarian anti-money laundering law, all obliged entities must adapt their internal rules in accordance with Article 101 of the Bulgarian Anti-Money Laundering Act ("AMLA") within six months following the publication of a national assessment of the risks related to money laundering and terrorism financing ("National Risk Assessment") on the website of the State Agency for National Security ("SANS").

more
newsletter

10 February 2020

romania

T.Artenie

What can companies expect in the new fiscal year in Romania? | Romania

A new year has begun, and the build-up of tax responsibilities and pressure has peaked and is now close to the point of reset and restart. But what does 2020 hold in store for companies active in Romania in terms of anticipated tax changes? And how can they get ready for and adapt to such amendments?

more
newsletter

31 January 2020

austria

T.Hayden

The consequences of Brexit for Austrian VAT

After several extensions and long negotiations, the United Kingdom is now set to leave the European Union on 31 January 2020, after which a transitional period will commence until 31 December 2020.

more
newsletter

New Labour Act in Montenegro

The new Labour Act (OGM, no. 74/19) (Zakon o radu) ("Labour Act") entered into force in Montenegro on 8 January 2020, replacing the 2008 Labour Act (OGM, nos. 49/08, 26/09, 88/9, 26/10, 59/11, 66/12, 31/14, 53/14 AND 4/18) ("2008 Labour Act").

more
newsletter

28 January 2020

austria

F.Urlesberger J.Frank

Landmark Supreme Court ruling on single economic entity doctrine regarding joint ventures | Austria

In a recent judgment, the Austrian Supreme Court found that the concept of the "single economic entity" (wirtschaftliche Einheit) may also apply to jointly controlled undertakings.

more
newsletter

24 January 2020

austria

M.Pressler H.Bellando

PSD2: FMA publishes circular on limited network exemption, including new details on the notification obligation | Austria

more
newsletter

16 January 2020

bulgaria

G.Petkova

Bulgarian watchdog introduces simplified and more extensive merger filing in new merger filing guidelines l Bulgaria

From 1 January 2020, the Bulgarian Commission for the Protection of Competition (the "CPC") has been applying new merger filing guidelines (the "Guidelines").

more
newsletter

13 January 2020

croatia

A.Rupčić* O.Kobsa*

Fourth round of Croatian tax reforms takes effect l Croatia

In late November 2019 the Croatian Parliament passed a series of laws amending Croatian tax legislation. The new laws, in the most part, came into effect on 1 January 2020.

more
newsletter

Article 15(3) of GDPR and right to access files or documents – an Austrian perspective

more
newsletter

08 January 2020

romania

T.Artenie

Amendments to tax law as of 1 January 2020 | Romania

more
newsletter

08 January 2020

hungary

A.Turi M.Kovács

Rising focus on HCA settlement proceedings – case law round-up l Hungary

more
newsletter

04 January 2020

romania

C.Manea G.Bădescu

New changes to the Romanian Food Trade Law: what can retailers and suppliers expect?

The new Law 28/2020, recently promulgated by the President of Romania and pending publication in the Official Gazette, squeezes in several amendments to the Food Trade Law 321/2009.

more
newsletter

03 January 2020

romania

T.Artenie

2020 VAT law changes l Romania

more
newsletter

20 December 2019

serbia

Z.Šoljaga S.Petronijević

Competition authority imposes landmark fine under leniency programme

more
newsletter

02 December 2019

austria

V.Stark M.Pressler

Payment Services Directive 2 (PSD2) – Paving the way for Open Banking

The revised Payment Services Directive (PSD2), applicable since 13 January 2018, has paved the way for Open Banking. Open Banking describes a shift from a closed model of banking to one in which customer data is shared between different members of the banking ecosystem.

more
newsletter

28 November 2019

austria

M.Nutz

Esports: legal challenges and taxation in Austria

Electronic sports (esports) are booming, despite the fact that videogames have existed now for more than 30 years.

more
newsletter

20 November 2019

romania

M.Florea V.Stropșa

Financial institutions in Romania: Ready for the new outsourcing rules?

The revised European Banking Authority ("EBA") Guidelines on outsourcing arrangements (the "Guidelines") have recently come into force. They change the rules for outsourcing by credit institutions and investment firms subject to the Capital Requirements Directive* as well as by payment and electronic money institutions ("Financial Institutions").

more
newsletter

19 November 2019

austria

W.Tichy S.Aydin

New rules for Digital Content & Sale of Goods 5/5

more
newsletter

IP Right Enforcement in the EU: CJEU Reduces Claimant's Liability Risk when Seeking Preliminary Injunctions

The Court of Justice of the EU (CJEU) recently dealt with "appropriate compensation" due in cases where a preliminary injunction based on IP rights was lifted or not rectified in subsequent main proceedings.

more
newsletter

11 November 2019

bulgaria

G.Petkova

CEZ Bulgaria not for sale l Bulgaria

CEZ Bulgaria is not for sale. This seems to be the (hidden) conclusion when reading the decision of the Bulgarian competition authority (the "CPC") prohibiting the acquisition of CEZ Group's entire assets in Bulgaria by Eurohold Bulgaria AD.

more
newsletter

11 November 2019

romania

C.Tudoraș

Directors' confidentiality obligations l Romania

Under the Companies Law, directors are prohibited from disclosing confidential information and trade secrets to which they have access in their capacity as a director. Further, the law states that the scope and duration of a director's confidentiality obligations must be agreed by the director and their company in the applicable mandate agreement.

more
newsletter

11 November 2019

serbia

Z.Šoljaga

The new Serbian Act on State Aid Control: An overhaul of the current system

The new Serbian Act on State Aid Control ("SAA")1 has entered into force. Its implementation, apart from the provisions on organisation of the Commission on State Aid Control ("Commission"), will begin on 1 January 2020.

more
newsletter

08 November 2019

croatia slovenia

E.Škufca U.Picelj

State aid for the Balkan's energy mix approved

more
newsletter

05 November 2019

austria

W.Höller P.Wetter

Austria: Pre-emptive right on shares unenforceable in insolvency proceedings?

Shareholders of Austrian limited liability companies usually want to have influence over whom they are associated with. That's why shareholders often agree on a pre-emptive right (Aufgriffsrecht) to purchase existing shares in certain cases, e.g. in case of insolvency proceedings against a shareholder.

more
newsletter

04 November 2019

austria

M.Pressler

Payment Services Directive (PSD2) – Strong Customer Authentication and additional migration period for e-commerce businesses

The revised Payment Services Directive (PSD2), applicable since 13 January 2018, brought significant changes to the payment markets in the EU. In particular, PSD2 requires certain payment services providers (PSPs) to apply strong customer authentication (SCA, also referred to as two-factor authentication) in remote electronic transactions. 

more
newsletter

31 October 2019

austria

W.Tichy S.Aydin

New rules for Digital Content & Sale of Goods 4/5

more
newsletter

28 October 2019

poland

B.Jóźwik

Recent Changes in Polish Labour Law

more
newsletter

28 October 2019

Czech Republic

E.Purgerová

Limitation of liability of elected corporate body members

more
newsletter

24 October 2019

poland

P.Kułak

Polish Supreme Court comments on anti-competitive vertical agreements - Poland

The Supreme Court recently explained that the Office for Competition and Consumer Protection (OCCP) does not have to identify all of the parties to anti-competitive vertical agreements in decisions issued in such cases.

more
newsletter

22 October 2019

austria

C.Haid G.Leissler

A novel model for calculating GDPR fines: Companies beware!

Competition authorities are typically lambasted for their ever-increasing fines for breaches of competition law.

more
newsletter

18 October 2019

austria

N.Zafoschnig

Electric filling station: no operation of an electricity company - Austria

In its decision of 18 September 2019, the Austrian Higher Administrative Court ("VwGH") found that the operation of an electric filling station does not constitute the operation of an electricity company and is thus subject to the rules of the Austrian Trade Act ("GewO").1

more
newsletter

16 October 2019

austria

W.Tichy S.Aydin

New rules for Digital Content & Sale of Goods 3/5

e-commerce
(legal insight 3 in a series of 5)

more
newsletter

15 October 2019

romania

M.Banu D.Trusculete

Bid rigging, a slippery slope for snow removal companies - Romania

The Romanian Competition Council (the "RCC") recently imposed a total penalty of EUR 1.1m on four companies for indulging in anticompetitive practices.

more
newsletter

09 October 2019

austria

M.Lindtner

The impact of the 5th Anti-Money Laundering Directive

The 5th Anti-Money Laundering Directive1 ("AMLD") to amend the current EU Anti-Money Laundering ("AML") regime must be transposed into national law by 10 January 2020.

more
newsletter

07 October 2019

austria

P.Kalser P.Wetter

Supreme Court finds insolvency related avoidance claims assignable - Austria

The Austrian Supreme Court has recently found that insolvency related avoidance claims can be sold. This may open a whole new business segment and will most certainly have a material impact on defendants in avoidance proceedings.

more
newsletter

03 October 2019

austria

W.Tichy G.Leissler S.Aydin

CJEU: "opt-out" language does not create valid cookie consent - Austria

Case: C‑673/17; Bundesverband der Verbraucherzentralen und Verbraucherverbände — Verbraucherzentrale Bundesverband eV vs Planet49 GmbH

more
newsletter

02 October 2019

austria

W.Tichy S.Aydin

New rules for Digital Content & Sale of Goods 2/5

more
newsletter

27 September 2019

austria

B.Rajal A.Farahmand

Additional funding for renewable energy - Austria

On 25 September 2019, an amendment to the Green Electricity Act (Ökostromgesetz 2012 – "ÖSG 2012") passed the Austrian National Council. The objective of the amendment is to prevent an interruption of the expansion of green electricity and to ensure a stable transitional period until the Renewable Energy Expansion Act (Erneuerbaren Ausbau Gesetz) is adopted in the next legislative period.

more
newsletter

18 September 2019

slovenia

E.Škufca U.Picelj

Amendments to Competition Act on horizon - Slovenia

The Ministry of Economic Development and Technology (the Ministry) is contemplating significant amendments to Slovenia's antitrust and merger control proceedings and has prepared a draft amendment1 to the Prevention of Restriction of Competition Act.2

more
newsletter

18 September 2019

austria

W.Tichy S.Aydin

New rules for Digital Content & Sale of Goods 1/5

more
newsletter

12 September 2019

poland

P.Kapica A.Stawiarska

An innovative solution for start-ups - Poland

more
newsletter

06 September 2019

hungary

A.Turi M.Kovács

By cash or card? HCA releases findings of sector inquiry into bank card acceptance market

more
newsletter

03 September 2019

romania

C.Enaga M.Neagu

Private companies must now declare their beneficial owners - Romania

Failure to comply with the recently introduced obligation to declare beneficial owners for registration purposes with the Central Register of Beneficial Owners of Private Companies can mean fines of up to RON 10,000.

more
newsletter

29 August 2019

czech republic

C.Bock

New developments in the Czech competition authority's decision-making practice: whistleblowers and appointed guardians

The Czech Office for the Protection of Competition recently found two companies guilty of bid rigging in a public tender.

more
newsletter

13 August 2019

M.Simsa S.Hekelová

Spotlight on automotive industry: Introduction to the series and financing

more
newsletter

06 August 2019

bulgaria

G.Petkova

Funeral agency fined for not complying with earlier CPC decision

On 27 June 2019 the Commission on the Protection of Competition (CPC) issued a decision in which it penalised funeral agency Elida MG EOOD (formerly Pokoy-1945 EOOD) for failing to comply with an earlier CPC decision.

more
newsletter

05 August 2019

romania

T.Artenie M.Moga-Paler

Are you ready for the tax and employment authorities' dawn raids? - Romania

A wave of dawn raids from mixed teams of the Romanian tax and employment authorities (ANAF and ITM) is expected this August. As per public declarations, these measures target tax evasion and "black market" labour.

more
newsletter

01 August 2019

poland

P.Kapica

Human rights in the financial sector

What do human rights have to do with financial institutions?

more
newsletter

29 July 2019

romania

T.Artenie

Increased turnover limit for tax credit on sponsorships – Romania

The turnover limit for the calculation of the tax credit for sponsorships, patronage, and private scholarships has increased from 0.5 % to 0.75 %. The amendment, which entered into force on 29 July 2019, is set forth by Law 156/2019 for amending art. 25 par. (4) lit. i) of Law no. 227/2015 on the Romanian Fiscal Code.

more
newsletter

29 July 2019

bulgaria

E.Todorova

Growing cannabis in Bulgaria: Legal but still stigmatised

Bulgarian legislation on the legal cultivation of cannabis makes for interesting reading. Some readers might feel that the regulations and definitions are the most hilarious things ever, and this article aims to shed light on why this may be, while running you through some legalities.

more
newsletter

25 July 2019

austria

C.Haid M.Lindtner

Cyber-attacks and business secrets - Protection under criminal law

Business secrets are essential assets of companies, and are often the reason for a company having a competitive lead in a market. Thus, they constantly seek to develop new technologies, algorithms or software to create such intangible assets.

more
newsletter

18 July 2019

austria

P.Wetter P.Kalser

Management's liability for payments upon onset of insolvency

A financial crisis and situations where insolvency is imminent are not only challenging for a company and its management, but also entail significant liability risks for management in the case of subsequent insolvency proceedings.

more
newsletter

15 July 2019

austria

C.Grassinger

Digital Services Tax proposed

In early April 2019, the Austrian Federal Government published a draft of the Digital Tax Act 2020 which is currently under review.

more
newsletter

04 July 2019

poland

P.Kułak

Constitutional Tribunal finds undertakings have right to appeal against consent to conduct searches

The Constitutional Tribunal recently analysed regulations regarding dawn raids carried out by the Office for Competition and Consumer Protection (OCCP) and ruled that the respective law is not in line with the Constitution insofar as it excludes the possibility to challenge rulings allowing searches to be conducted.

more
newsletter

New law on unfair trade practices in the food retail sector

Slovakia has a history of legislation focused on regulating business to business relationships in the food retail sector. Since 2004, four different acts have attempted to curb certain practices of food retailers and their suppliers in order to strike a fair balance in their business relationships.

more
newsletter

25 June 2019

hungary

D.Gera

New rules on handling of employee data

In April 2019 – almost one year after the EU General Data Protection Regulation (GDPR) entered into force – Parliament adopted a new law amending several sectorial laws concerning the processing of personal data. In particular, the new law has amended the Labour Code's general provisions on the processing of employee data.

more
newsletter

25 June 2019

austria

P.Feyl

First decision by Austrian Supreme Court on cash pooling: No blank cheque for banks but some relief

more
newsletter

24 June 2019

austria

W.Höller P.Wetter

New EU Restructuring Directive: A game changer for restructurings?

The list of successful restructurings outside insolvency proceedings is as long as it is confidential. Every year, companies of all sizes are stabilised and sustainably restructured without the stigma of insolvency proceedings.

more
newsletter

New regulation on whistleblowing in the Czech Republic

more
newsletter

19 June 2019

austria

C.Schmelz A.Lopatka

Does Austrian aviation law comply with the new EU rules for drones?

more
newsletter

13 June 2019

austria

V.Wolfbauer

Genome Editing - CRISPR/Cas9

The CRISPR method

more
newsletter

12 June 2019

austria

L.Scheicher

Say on pay and related party transactions: implementation of EU Shareholder Rights Directive II

The EU Shareholder Rights Directive II (2017/828) (SRD II), amending Directive 2007/36/EC as regards the encouragement of long-term shareholder engagement, must be transposed into national law by 10 June 2019.

more
newsletter

Public liability based on incorrect land register entries is limited

Incorrect land register entries may trigger public liability. But in a recent decision the Austrian Supreme Court (1 Ob 198/18a) held that incorrect land register entries can only constitute public liability claims for a certain group of people.

more
newsletter

31 May 2019

romania

T.Artenie

Tax amendments: changes to the payment of health insurance contributions and reduced VAT rate for high-quality food products

Government Emergency Ordinance No. 31/2019 (GEO 31/2019) was published on 23 May 2019. The main changes introduced by this piece of legislation are presented below.

more
newsletter

29 May 2019

austria

A.Natterer

Admissibility of Stem Cell Therapy - Case Law Update Austria

more
newsletter

22 May 2019

bulgaria

G.Petkova

New purchaser new rules. CPC clears the acquisition of Nova TV by Domuschievi brothers in "fast-track" proceeding

more
newsletter

19 May 2019

romania

M.Neagu

Exit strategies: registering a share transfer when target shares are encumbered by third parties

The stock market's flexibility is its greatest selling point for publicly traded companies, as it allows a fast flow of capital while still enabling majority shareholders to implement fundamental corporate changes should they wish to exit the market.

more
newsletter

Legal Alert for Approaching Deadline of UBO Registration

Bulgarian anti-money laundering law requires that companies and other entities having their seat in Bulgaria register their ultimate beneficial owner(s).

more
newsletter

14 May 2019

austria

M.Simsa

Supreme Court facilitates financing companies with cross-border business

For the first time, the Austrian Supreme Court has upheld a security right granted under German law, even though the asset had been transferred to Austria.

more
newsletter

13 May 2019

croatia

G.Grancarić*

Changes in the Croatian Companies Act and Court Register Act

Croatia introduced significant changes to the Companies Act and the Court Register Act on 20 April 2019 with the main goal of easing the incorporation of (simple) limited liability companies ("ltd companies").

more
newsletter

09 May 2019

bulgaria

G.Petkova

CPC clears Domuschievi brothers' acquisition of Nova TV

In March 2019 the Commission for the Protection of Competition (CPC) cleared the acquisition of Nova Broadcasting Group AD (Nova TV) by Advance Media Group EAD, which is owned by the well-known Bulgarian businesspeople Kiril and Georgi Domuschievi.

more
newsletter

09 May 2019

hungary

A.Turi M.Kovács

Digital consumer protection in action – HCA launches market study into digital comparison tools

more
newsletter

Consultation on implementation of network code on harmonised transmission tariffs

EU Regulation 2017/460 (16 March 2017) has established a network code on harmonised transmission tariff structures (TAR NC).

more
newsletter

06 May 2019

romania

M.Cojocaru

A second chance for the renewables sector?

The Romanian Ministry of Energy recently finalised the public debate of a document outlining a new mechanism for supporting low-carbon electricity generation, in the form of a Contract for Difference (CfD) scheme.

more
newsletter

02 May 2019

romania

T.Artenie

New rules regarding the VAT treatment applicable to vouchers and to e-services supplied to non-taxable persons

On 20 April 2019 Law 60/2019 amending the VAT treatment applicable to vouchers and electronically supplied services to non-taxable persons, entered into force.

more
newsletter

02 May 2019

austria

C.Haid M.Lindtner

Increased and uniform protection is coming: EU adopts new rules protecting and encouraging whistleblowing

Scandals from Danske Bank to LuxLeaks and the Panama Papers would never have come to light were it not for insiders who dared to expose major wrongdoings within companies and organisations.

more
newsletter

23 April 2019

austria

M.Lindtner

Liking, Sharing and Posting: Legal Responsibility and Social Media

more
newsletter

Antitrust and Syndicated loans

In 2017 the Directorate-General for Competition of the European Commission (DGCOMP) kicked-off a process to examine loan syndication.

more
newsletter

11 April 2019

bulgaria

E.Todorova

Bulgarian Courts and the Deepest Recesses of Marketing

Some local interpretations of the concepts of clean labelling and claims related to children's development and health

more
newsletter

09 April 2019

austria

W.Tichy S.Aydin

Austria: What does "limited space" mean under the Act on Distance Contracts and Off-Premises Contracts?

Directive 2011/83/EU of 25 October 2011 on consumer rights (the "Directive") and the Fern- und Auswärtsgeschäfte-Gesetz (the "FAGG") impose many information obligations on traders before the consumer is bound by a distance or off-premises contract, or any corresponding offer.

more
newsletter

Poland: COVID-19 vs. lease agreements

more
newsletter

03 April 2019

czech republic

C.Bock

Czech Republic: Health products distributor fined for resale price maintenance

The Office for the Protection of Economic Competition recently fined Czech health products supplier TCM Herbs Kc853,000 (approximately €33,500) for resale price maintenance (RPM).(1)

more
newsletter

01 April 2019

austria

M.Simsa M.Lindtner

Good news for creditors: Austrian Supreme Court strikes down significant impediment to creating valid collateral in Austria

The Austrian Supreme Court has abolished its former line of decisions on the recognition of collateral granted by way of security transfer (Sicherungsübereignung) under foreign jurisdiction. From now on, Austrian courts will have to recognise such collateral even if it does not comply with Austrian publicity requirements (Pubilzitätserfordernissen).

more
newsletter

29 March 2019

austria

C.Jirak

Austria: Electric vehicles exempt from emissions-reducing speed limits

The transport sector is especially important for reducing worldwide greenhouse gas emissions and air pollutants. This is also the case in Austria.

more
newsletter

26 March 2019

czech republic

C.Bock

Czech Republic: Competition office fines Booking.com €0.33 million

more
newsletter

Austria: New refund procedure for withholding tax

more
newsletter

18 March 2019

bulgaria

E.Todorova G.Petkova

Bulgaria: Proposal for EU Directive on unfair trading practices in business-to-business relationships in the food supply chain

Can European farmers be certain that a bottle of milk or a kilo of apples will remain more expensive than a bottle of mineral water?

more
newsletter

13 March 2019

belgium / EU

V.Weiss

A new regulation on FDI screening in Europe

more
newsletter

07 March 2019

croatia

M.Simsa V.Mandarić*

Croatia: Agrokor's administration proceedings are entering the final stage

After almost two years, the extraordinary administration proceedings over Agrokor and 77 of its Croatian group companies is entering its final stage.

more
newsletter

04 March 2019

austria

M.Woller D.Hofmarcher

Influencer Marketing – Austrian Advertising Council Adopts Specific Rules

The Austrian Advertising Council (Österreichischer Werberat) is the self-regulating body of the Austrian advertising industry.

more
newsletter

01 March 2019

austria

U.Rath M.Pressler

Austria | EBA publishes new guidelines on outsourcing for institutions applicable from 30 September 2019

more
newsletter

28 February 2019

austria

S.Kühteubl M.Brandauer

Kurzmeldung: Österreich: Ein "persönlicher Feiertag" für alle – der Leidensweg des Karfreitags

Die kürzlich ergangene Entscheidung des EuGH zum Karfreitag und die daraufhin entflammte politische Debatte haben zu erheblichen Unsicherheiten bei Unternehmen geführt.

more
newsletter

27 February 2019

austria

C.Haid

Pharmaceutical industry remains in the focus of competition law enforcement - Austria

The market dynamics of the pharmaceutical industry are peculiar in many ways, including the characteristics of its demand and supply sides.

more
newsletter

27 February 2019

bulgaria

G.Petkova

Bulgaria: Metro penalised for unfair comparative advertising campaign

The Commission for the Protection of Competition (CPC) recently penalised Metro Cash & Carry Lev14,972,320 or 2% of its 2017 turnover for conducting an unfair comparative advertising campaign. The CPC ordered Metro to terminate the campaign immediately and inform two national newspapers of the decision.

more
newsletter

25 February 2019

austria

W.Tichy S.Aydin

Austria: Proposal of the European Parliament and of the Council for a regulation on promoting fairness and transparency for business users of online intermediation services

more
newsletter

Serbia: Extended application of GDPR to non-EU countries in accordance with the Guidelines 3/2018 on the territorial scope of GDPR

more
newsletter

22 February 2019

austria

P.Feyl U.Rath

Austria: Vienna Stock Exchange: quarterly reports for equity issuers no longer mandatory

Following some other European stock exchanges, the Vienna Stock Exchange (VSE) announced today, 22 February 2019, that it will no longer require issuers, the shares of which are admitted to trading on its regulated market, to publish quarterly reports.

more
newsletter

20 February 2019

romania

M.Neagu

Romania: Enforceability of drag-along mechanism for limited liability companies

Of the five types of corporation that may be established under Romanian law, joint stock and limited liability companies continue to be the most common.

more
newsletter

14 February 2019

romania

T.Artenie

Romania: Tax authorities' Iceberg aims to sink multinationals' Titanic

Project Iceberg, launched at the beginning of this year by the Romanian tax authorities, is a giant nationwide operation to be implemented throughout 2019. It consists of a wave of tax audits on major multinational companies active in all sectors, with the aim to fight profit shifting.

more
newsletter

27 January 2019

hungary

D.Gera D.Gindl

Hungary: 'Slave Act': changes to working time rules

In Hungary, as is the case in other EU countries, recent economic growth has been accompanied by a labour shortage.

more
newsletter

25 January 2019

austria

M.Ritt-Huemer

Austria: Government preparing for a "hard Brexit" – effects on corporate law

Now that the British parliament has rejected the Brexit deal in a vote last week, fears of a lawless exit of the UK from the EU are growing daily. In anticipation of this no-longer-unlikely scenario, the Austrian government is preparing for a "hard Brexit".

more
newsletter

18 January 2019

romania

T.Artenie

Romania: Tax provisions in force since March 2018, significantly amended and supplemented

more
newsletter

18 January 2019

romania

M.Banu C.Manea

Don't jump the gun! Mergers may be caught in the Romanian Competition Council's crossfire

Gun jumping refers to premature enforcement of a merger before obtaining clearance from the competition authority.

more
newsletter

18 January 2019

austria

P.Madl

Hurdles for short-term apartment rentals

more
newsletter

18 January 2019

hungary

Hungary: Digital consumer protection – Black Friday success turns sour for major online marketplace

more
newsletter

17 January 2019

hungary

K.Hetényi A.Bognár

Hungary: Tricks and Traps of Electronic Communication

more
newsletter

14 January 2019

Hungary

A.Turi

Hungarian Competition Authority revokes its decision clearing Digi's acquisition of Invitel and imposes a significant fine

more
newsletter

13 January 2019

austria

P.Konwitschka J.Bauer

Austria: New unified cancellation right for insurance contracts brings legal certainty

Pursuant to Article 186 of the EU Solvency II Directive (2009/138/EC), EU member states must grant life insurance policyholders a 14 to 30-day period to cancel their contract from the time when the policyholders were informed that the contract was concluded.

more
newsletter

11 January 2019

austria

G.Kucsko

Austrian Constitutional Court declares percentage Cap of Copyright Levies null and void

more
newsletter

07 January 2019

romania

T.Artenie

Romania: Amendments to the tax law as of 1 January 2019

more
newsletter

07 January 2019

austria

A.Natterer

Austria: Decree forbids sale of CBD products

Exactly four months ago, we reported that the Austrian pastry shop Aida was starting to sell cakes containing CBD and explained the legal situation. In the meantime, everything has changed. Or has it?

more
newsletter

Serbia catches up with the GDPR: New Data Protection Law adopted

more
newsletter

19 December 2018

romania

A.Gal

Romania: Remedy of recourse no longer available in insurance litigation

Court decisions in insurance litigation are no longer subject to recourse, following a recent legal amendment which came into effect on 21 December 2018.

more
newsletter

19 December 2018

Hungary

Gun jumping in Hungary - the authority imposes another fine amidst stricter enforcement tendencies

Yet another decision indicates that the Hungarian Competition Authority (HCA) is among the more rigorous competition authorities in Europe. It has once again imposed a fine for gun jumping, i.e. the acquisition of control over the target in a transaction already prior to competition law clearance. The HCA imposed the first ever gun jumping fine in March 2016, marking a new era of stricter enforcement of merger control rules in Hungary. Six other gun jumping decisions have followed since then. Meanwhile, the authority has also sanctioned undertakings for flaws in their notifications.

more
newsletter

18 December 2018

hungary

G.Szalóki

Hungary remains strict on factoring

Factoring is an increasingly popular product of banks that appeals to corporate clients of whatever size as it provides liquidity to the clients and stable cash flow.  The factoring is usually structured in a way that the vendors of the client do not receive information on the factoring, the bank stays in the background; the relationship between the client and its vendor remains intact.  In practice, this means that the client continues to collect the amounts the vendor owes, although such amounts do not belong to the client anymore.  Also, it is not uncommon that even the soft workout stage stays with the client in case the vendor is in delay with its payment obligation; i.e. the client will be obliged to chase its vendor for the money.

more
newsletter

14 December 2018

romania

O.Constantinescu

Romania: Environmental permits and integrated environmental permits now need to be endorsed every year

Environmental permits ("EP") and integrated environmental permits ("IEP") are now subject to annual endorsement, according to the new procedure adopted by the Ministry of the Environment. Permitholders will have to apply every year for endorsement to maintain the validity of the permits.

The procedure for the annual endorsement of EP and IEP was approved by Order No. 1171/2018 ("Order 1171") issued by the Ministry of Environment in line with the latest amendments to the GEO No. 195/2005 on environmental protection regarding the validity of EP and IEP. Order 1171 entered into force on 15 November 2018.

more
newsletter

14 December 2018

romania

T.Artenie

Romania's minimum wage hike will impact non-salary income

On 1 January 2019, the Romanian monthly minimum gross wage will increase from RON 1,900 to RON 2,080, and to RON 2,350 for employees with higher education and at least one year of work experience in such a position.

more
newsletter

14 December 2018

austria

M.Stanisavljevic

Austria: Efficient Arbitration - Part 5: The Prague Rules: An Inquisitorial Alternative

The most recent article in our Efficient Arbitration Series looked at how document production, when handled properly, could save time and costs in arbitration proceedings.

more
newsletter

12 December 2018

romania

D.Iàcona

Romania: Cybersecurity - call for action for major companies in critical sectors

The first piece of EU-wide legislation on cybersecurity is expected to be transposed into Romanian law anytime now, bringing into play enhanced system security obligations for major companies in certain sectors, as well as fines of up to 5 % of non-compliant companies' turnover.

more
newsletter

12 December 2018

slovenia

U.Picelj

Slovenia: Right to be heard in dawn raid

In October 2018 the European Court of Human Rights (ECHR) granted Produkcija Plus doo (Pro Plus) €52,500 in compensation after its right to be heard was violated in the proceedings relating to the fine imposed for obstructing the dawn raid.

more
newsletter

12 December 2018

Austria Vienna Austria Linz

Austria: New coordinated network development plan introduced

The EU Gas Supply Standard Regulation (2017/1938) sets out extreme scenarios for which gas suppliers must be prepared. For example, gas suppliers must be prepared for:

  • extreme temperatures for up to seven days, together with peak consumption; and
  • exceptionally high gas consumption for at least 30 days.
more
newsletter

12 December 2018

Austria Vienna Austria Linz

Austria: New coordinated network development plan introduced

The EU Gas Supply Standard Regulation (2017/1938) sets out extreme scenarios for which gas suppliers must be prepared. For example, gas suppliers must be prepared for:

  • extreme temperatures for up to seven days, together with peak consumption; and
  • exceptionally high gas consumption for at least 30 days.
more
newsletter

12 December 2018

hungary

Hungary: HCA publishes digital consumer protection strategy

The Hungarian Competition Authority (HCA) recently published a strategy paper presenting its views on consumer protection in the digital age. The paper subtly indicates that the HCA will continue to follow the European Commission's guidance in this regard. The paper highlights the measures which the HCA deems necessary to protect consumers and keep up with the developments and companies central to this process.

more
newsletter

11 December 2018

bulgaria

G.Petkova

Bulgaria: Competition authority penalises A1 Bulgaria EAD for cancelling agreement

With Decision No. 1308 of 22 November 2018, the Commission for the Protection of Competition (the "CPC") fined A1 Bulgaria EAD ("A1") BGN 840,340 for cancelling a partnership agreement with its main commercial representative. The CPC decided that the cancellation was effectively a violation of Article 37a (1) of the Protection of Competition Act (the "PCA"), which prohibits abuse of dominant position when contracting.

more
newsletter

05 December 2018

austria

J.Böszörményi

GDPR implementing legislation in Austria

As in all EU member states, the EU General Data Protection Regulation (GDPR) came into effect in Austria on 25 May 2018. The centrepiece of Austria's GDPR implementing legislation was the Data Protection Amendment Act 2018 (for further details please see "Draft Data Protection Amendment Act 2018 in appraisal" and "Proposals to alter national Data Protection Act").

more
newsletter

05 December 2018

poland

K.Pawlak

Filling the Gaps in Polish Corporate Law

On 30 November 2018, a new law implementing several changes to existing legislation (1), notably to the Civil Code and the Commercial Companies Code, as well as to tax laws, was announced. The new law, which will enter into force at the beginning of 2019 (with respect to matters commented on below, mostly as of 1 March 2019).

more
newsletter

03 December 2018

romania

G.Bădescu

Snow-free roads for Santa in Romania: RCC proposals on the market for snow-removal salt

With less than one month to go before Christmas, most of us are getting excited about the holiday season and tidying up our gift lists for Santa. 

more
newsletter

28 November 2018

czech republic

R.Bicek

Czech Republic: Which compliance programme can exculpate your company from criminal liability?

more
newsletter

23 November 2018

romania

V.Stropșa

Romania: Is the new PPP legislation giving a boost to infrastructure projects?

This seems to be a hot year-end for Romanian infrastructure, with the government recently launching the first public procedure for the award of a strategic infrastructure project under the new Romanian PPP legislation: the construction of the Ploiesti-Brasov motorway.

more
newsletter

Bosnia and Herzegovina (BiH) Competition Council introduces new tariffs

The Bosnia and Herzegovina (BiH) Competition Council will apply new tariffs as from November 2018. Among these, the most significant are the increased merger control clearance fees, which have doubled.

more
newsletter

21 November 2018

serbia

S.Petronijević Z.Šoljaga

Serbia: "Baby-boom" and other RPM cases before the Competition Authority

The Serbian Commission for Protection of Competition (the "Commission") is taking steps to encourage the birth rate in Serbia, one of the country's primary political objectives. Its contribution to achieve that objective is current antitrust investigation on the baby care product market, which could ultimately lead to a price decrease and reduction of costs of raising a child in Serbia. 

more
newsletter

20 November 2018

romania

T.Artenie

EU: Reduced VAT rates for e-publications now possible

According to a recent EU legislative change, Member States are now allowed to apply reduced VAT rates to electronic publications, in addition to physical ones. As e-newspapers and e-books were previously subject to different VAT treatment than their printed equivalents, Europe's leading publishers have welcomed this amendment.

more
newsletter

16 November 2018

austria

P.Strondl

Austria: Parliament adopts comprehensive environmental package

On 25 October 2018 Parliament adopted a new comprehensive environmental package comprising:

  • the Aarhus Participation Act;(1)
  • an amendment to the Environmental Impact Assessment Act;(2) and
  • an amendment to the Federal Environmental Liability Act.(3) 

Several other environment-related legislative initiatives are also underway at present (see, for example, "Will new state targets lead to reduced environmental protection?").
 
Although the amendments have yet to be published in the Federal Law Gazette, the new environmental package is expected to come into force by the end of 2018.

more
newsletter

15 November 2018

bulgaria

T.Krumov

Bulgaria: New legal framework for repo transactions and derivatives with pension funds

The amendments provide new business opportunities to banks to enter into repo transactions and derivatives with Bulgarian pension funds.

more
newsletter

14 November 2018

austria

A.Natterer

Healthcare Update - Mastering New Trends: Teleradiology* - Austria

Technology and innovation are key drivers of advancement in a variety of industries, and certainly in healthcare. The level of patient care can be improved considerably with the right mix of traditional and innovative treatments and solutions. Nevertheless, there are regulatory challenges to overcome.

more
newsletter

12 November 2018

bulgaria

G.Roussinova

Bulgaria: High time for companies to register their beneficial owner

Companies have until 31 May 2019 to register their beneficial owners in the Bulgarian Commercial Register and Register for Non-profit Legal Persons (the "Commercial Register"). This obligation comes as a result of the adoption of a new Law on the measures against money laundering in March this year (the "AML Law").

more
newsletter

09 November 2018

austria

S.Lukic

Austria: The Jewel in the Crown (1)

Pursuant to Article 267 of the Treaty on the Functioning of the European Union ("TFEU"), the Court of Justice of the European Union ("CJEU") shall give preliminary rulings, at the request of courts or tribunals of the Member States, on the interpretation of Union law or the validity of acts adopted by the institutions.

more
newsletter

06 November 2018

romania

M.Cojocaru

The Oil & Gas Offshore Law: A Romanian Odyssey

Debate is raging about the Romanian "offshore" law setting out the legal framework for oil & gas exploration and production in the Black Sea offshore perimeters (the "Offshore Law" or the "Law"), fuelling political turmoil and deterring investment. After a failed attempt to pass the Offshore Law in summer, there are signs of much needed stability.

more
newsletter

02 November 2018

czech republic

C.Bock

Czech Republic: Office for the Protection of Competition gets tougher on fines for competition law infringements

In April 2018 the Office for the Protection of Competition adopted new guidelines on the method of setting fines for competition law infringements,(1) noting that the need for a revision of the previous guidelines had emerged in the wake of developing case law, as well as amendments to the Act on the Protection of Competition.

more
newsletter

29 October 2018

austria

P.Nimmerfall

Austria: Constitutional Court rules on Squeeze-Out Act's compatibility with Constitution

The Constitutional Court recently ruled on whether the Squeeze-Out Act is compatible with the Constitution.(1)

more
newsletter

29 October 2018

austria

U.Rath T.Kulnigg

Österreich: Ab 2019 vereinfachter Kapitalmarktzugang für KMU, Wachstumsunternehmen und Startups durch Öffnung des Dritten Markts

Am 25.10.2018 hat der Nationalrat die seit langem erwartete Änderung des Aktiengesetzes beschlossen, die den Zugang von österreichischen Gesellschaften, insbesondere von KMU, Wachstumsunternehmen und Startups, zum Kapitalmarkt erleichtern soll.

more
newsletter

25 October 2018

bulgaria

G.Petkova

Bulgaria: CPC penalises Speedy AD for failing to provide complete and accurate information

In Decision 1046 of 20 September 2018, the Commission for the Protection of Competition (CPC) approved the acquisition of Rapido Express and Logistics OOD by its competitor Speedy AD in accordance with Article 26(1) of the Protection of Competition Act. However, at the same time, the CPC penalised Speedy AD for failing to provide in its concentration notification complete and accurate information which the commission deemed materially and substantially important for evaluating the deal.

more
newsletter

25 October 2018

poland

P.Halwa

Efficient Arbitration – Part 4: Document Production in International Arbitration

In Parts 1 – 3 of our Efficient Arbitration Series, we introduced various efficiency tools. In Part 4 we will discuss one of these tools which has considerable savings potential: “document production”.

more
newsletter

22 October 2018

romania

M.Neagu

Romania: All board decisions made by delegation of powers can be challenged in court

To enable decisions to be passed efficiently, the Companies Law (31/1990) created flexible mechanisms and procedures allowing specific shareholder powers to be delegated to a company's management.

more
newsletter

Austria: Increased due diligence obligations for shareholder creditors?

The Austrian Insolvency Code provides for the possibility to challenge certain disadvantageous transactions carried out by the debtor after material insolvency has occurred, especially if the creditor knew or should have known of its debtor's material insolvency. 

more
newsletter

18 October 2018

hungary

K.Hetényi A.Menczelesz

New Act on the Control of Investments Detrimental to the Interests of Hungarian National Security

The Hungarian Government recently adopted Act no. LVII of 2018 on the Control of Investments Detrimental to the Interests of Hungarian National Security (the "Act"). 

more
newsletter

17 October 2018

romania

M.Roibu M.Moga-Paler

Health and safety at work in Romania: What companies need to know to be safe

Failure to take or observe the mandatory measures for health and safety at work may entail, among other types of liability (e.g. civil, administrative), potential criminal liability for employers.

more
newsletter

16 October 2018

romania

T.Artenie

Romania: Amendments to fiscal legislation

Below is a list of the main amendments included in the Emergency Government Ordinance no. 89/2018 regarding several budgetary-fiscal measures, and amendments for the modification and completion of some normative acts.

more
newsletter

15 October 2018

romania

M.Moga-Paler

Romania: How to implement the new internship rules

The internship contract is an alternative tool by which a company provides a student or trainee the opportunity to work in the company to gain theoretical and practical knowledge in a specific field, with a view to possible employment after the internship is complete. The template documents necessary to put into practice the recent rules introduced to Romanian legislation in August 2018, have been approved and can now be used by companies active in Romania.

more
newsletter

15 October 2018

bulgaria

G.Petkova

Bulgaria: Speedy AD sanctioned by competition authority for failure to provide complete and accurate information

With Decision No.1046 issued on 20 September 2018, the Bulgarian Commission for the Protection of Competition (the "CPC") gave the green light to the acquisition of Rapido Express and Logistics OOD by its competitor Speedy AD, in accordance with Article 26(1) of the Act for the Protection of Competition (the "APC").

more
newsletter

09 October 2018

austria

C.Haid

Non-compliance in the Healthcare Sector - Iceberg ahead! - Austria

If anyone needed a wakeup call as to how critical a functioning compliance system and culture is, look no further than the recent reports in the Austrian media about allegations of fraud launched against a surgeon working at one of Vienna's most renowned public-sector hospitals.

more
newsletter

04 October 2018

poland

P.Kułak

Poland: First year of law on unfair practices in food sector – an overview

One year has passed since the Act on Counteracting the Unfair Use of Contractual Advantage in the Trade of Agricultural and Food Products entered into force.

more
newsletter

26 September 2018

hungary

A.Turi M.Kovács

Hungary: HCA's recent practice: cooperation and commitments

In recent years, the Hungarian Competition Authority (HCA) has seemingly aimed to foster cooperation between itself and market participants. Recent case law shows that the HCA strives for cooperation even when market participants allegedly commit grave infringements of the competition rules. 

more
newsletter

24 September 2018

austria

A.Natterer S.Khalil

Austria: Commercial agent's trial for trial period compensation

Earlier this year, the ECJ ruled that commercial agents are generally entitled to compensation, even if the distribution agreement was terminated during a trial period.

more
newsletter

20 September 2018

hungary

D.Gindl D.Gera

How will new EU directive on work-life balance affect family-related leave in Hungary?

Gender equality may be a core EU principle, but it will not become a reality without effective legal action. To meet the EU objective of reaching a 75% employment rate for both men and women by 2020, the European Commission aims to change the existing legal framework.

more
newsletter

18 September 2018

romania

G.Bădescu V.Weiss M.Banu

The Romanian Competition Council never rings twice. Not even when abroad

"To our big surprise representatives from the Romanian Competition Authority arrived at our offices in Brussels on [date] and were joined by the Belgian police and the Belgian Competition Authority", reads the press release of a foreign-based investigated party raided by the Romanian authority.

more
newsletter

11 September 2018

austria

C.Jirak P.Strondl

Austria: Will new state targets lead to reduced environmental protection?

Since the beginning of the Second Republic, the Constitution has provided so-called 'state targets', which have guided the government to declare certain interests to be substantial.

more
newsletter

07 September 2018

austria

A.Natterer T.Kulnigg

Austria: Let them eat space cake

As of tomorrow, the traditional Austrian bakery Aida, which is known for its staff dressed in baby pink, will sell brownies containing CBD. The price will be EUR 4.20 – an inside joke, since "four-twenty" is code for the consumption of cannabis. 

more
newsletter

03 September 2018

austria

N.Zafoschnig

Austria: Automatic permits for certain energy infrastructure projects

Proposed new legislation would introduce automatic permits for certain energy infrastructure projects (eg, electricity grids and power plants). According to the federal minister for digital and economic affairs, in order to maintain Austria's attractiveness as a business location and ensure sustainable development, comprehensive investment in its infrastructure is required. 

more
newsletter

30 August 2018

romania

A.Gal

Romania: Significant changes to the payment of contravention fines

The payment methods of contravention fines have been simplified as of 24 August 2018 by Act No. 203/2018, on the measures to increase the efficiency of the payment of contravention fines, published in the Official Gazette, Part I, no. 647 of 25 July 2018 (the "Law"). The Law sets forth measures aimed at facilitating the payment of contravention fines.

more
newsletter

30 August 2018

romania

V.Săndulescu

Romania: Companies can now distribute dividends on a quarterly basis - but will they?

Until recently, Romanian companies could distribute dividends to shareholders only on an annual basis and on approval of their annual financial statements at the end of each financial year. This paradigm has changed and companies can now opt to distribute their dividends annually or quarterly.

more
newsletter

27 August 2018

slovenia

U.Picelj

Slovenia: Competition Protection Agency adopts commitments for Renault

In July 2017 the Slovenian Competition Protection Agency initiated proceedings against Renault (which operates as RENAULT NISSAN SLOVENIJA doo). The company was suspected of treating authorised mechanics and independent mechanics differently, which gave the agency grounds to believe that Renault had abused its dominant position (for further details please see "Automotive industry again under scrutiny by Competition Protection Agency").

more
newsletter

22 August 2018

hungary

M.Kovács A.Turi

Major changes in trade secret protection are coming to Hungary

Shortly after the expiry of the 9 June 2018 deadline, the Hungarian parliament has finally adopted the new act on the protection of trade secrets ("Trade Secrets Act") which will transpose the Trade Secrets Directive EU 2016/943 into national law

more
newsletter

20 August 2018

romania

T.Artenie

Romania: Tax authorities focus on transfer pricing adjustments

According to the latest statistics, Romanian tax authorities rank transfer pricing ("TP") high on their agenda. Companies are increasingly aware of the risks they face unless they have the TP documentation ready when asked by the tax inspectors, yet many fail to take action in due time.

more
newsletter

16 August 2018

bulgaria

G.Petkova

Bulgaria: CPC issues first decisions prohibiting concentrations

On 19 July 2018 the Commission for the Protection of Competition (CPC) prohibited the following two concentrations:

more
newsletter

Austria: The DPA's strict view on retention periods

End of July, the Austrian Data Protection Authority ('DPA') published its first decision on retention periods applying the General Data Protection Regulation ('GDPR'; DSB-D216.471/0001-DSB/2018). The decision is final. The DPA had to decide for which period a provider of telecommunications services (hereinafter: the 'controller') may (respectively must) retain so called master data, required for the controller's legal relationship with the user of its services (hereinafter: the 'applicant').

more
newsletter

10 August 2018

hungary

D.Gindl D.Gera

Amendments to the Hungarian Data Protection Act

The Hungarian Parliament has recently adopted legislation with the aim of harmonising the national data protection rules with the rules of the GDPR, and supplementing the national rules in areas not regulated by the GDPR. The Parliament adopted Act XXXVIII of 2018 ("Amendment") in an extraordinary session and the new regulations entered into force on 26 July 2018.

more
newsletter

08 August 2018

bulgaria

G.Petkova

First decisions prohibiting concentrations issued in Bulgaria

On 19 July, 2018 the Bulgarian Commission for the Protection of Competition (the "CPC") prohibited two concentrations. The first being the sale of the second largest media conglomerate in Bulgaria, Nova Broadcasting Group AD ("Nova Broadcasting"), (owner of Nova TV), to PPF Bidco, (owned by Czech businessman Petr Kellner), and secondly the sale of CEZ's assets in Bulgaria, which include its energy distribution business, trade business and some small renewable energy parks to a Bulgarian company, Inercom, which maintains three solar power stations in the country.

more
newsletter

26 July 2018

hungary

G.Szalóki

Hungary reconsiders the banking transaction tax to promote electronic payments

more
newsletter

European Union: Your Web Doctor will see you now - software as a medical device

Patients nowadays have access to an enormous range of medical knowledge through social media, websites and health apps (in combination with wearables). The latter have become increasingly popular in recent years because of their ability to monitor in real time pulse, blood pressure, blood glucose levels and other parameters.

more
newsletter

18 July 2018

austria

N.Zafoschnig

Danube port legislation: building a bridge across various jurisdictions

The Danube is the longest river in Central Europe, and thus has significant economic potential. However, the full potential of the Danube as a major transport route has not yet been exploited. A reason for this is the fact that the Danube crosses ten countries, and there are, as a result, ten different applicable port legislations in the Danube region. 

more
newsletter

Merger Control: Guidance Paper on New Transaction Value Thresholds in Austria and Germany

more
newsletter

04 July 2018

romania

M.Neagu

Romania: One step closer to enforcing Fourth AML Directive: changes for private companies regarding ownership transparency

Following the entry into force of the Fourth Anti-money Laundering (AML) Directive (2015/849) in 2015, Ireland, Greece, the Netherlands and Romania are still in the process of passing appropriate implementation measures into national law. As such, they have exceeded the 26 June 2017 transposition deadline by one year.

 

more
newsletter

Újdonság a cégjegyzékben: a képviseleti jog nélküli vezető tisztségviselő

A magyar jog eddig is megengedte, hogy egy társaság tagjai korlátozzák a vezető tisztségviselő (ügyvezető) képviseleti jogát. Ebből kifolyólag olyan vezető tisztségviselő kinevezése is megengedett, aki egyáltalán nem jogosult a társaság képviseletére.

more
newsletter

Hungary: Introducing the managing director without representation rights

Hungarian law has always permitted shareholders of a company to limit the power of the company's managing director(s). Thus, it has also been allowed to appoint a managing director without any right to represent the company.

more
newsletter

04 July 2018

hungary

A.Turi M.Kovács

Hungary: Influencers have been targeted by the HCA, but what about buying followers?

more
newsletter

03 July 2018

austria

J.Stalzer

The time has come: Federal Procurement Act 2018 just around the corner in Austria

more
newsletter

21 June 2018

bulgaria

T.Krumov

Bulgaria: Boost to creditors’ rights on pledged receivables

"Banks may now agree to collect pledged receivables prior to accelerating the secured debt under floating charges like security interests."
Tsvetan Krumov

more
newsletter

21 June 2018

czech republic

C.Bock

Czech Republic: Competition Authority fines firm for restrictive clauses in lease agreements

Restrictive clauses are common in commercial lease agreements.

more
newsletter

21 June 2018

poland

P.Kułak

Poland: Recent competition developments in merger control field

Merger control is one of the Polish Office for Competition and Consumer Protection's (OCCP's) main areas of activity, as it deals with 170 to 220 filings annually. 

more
newsletter

20 June 2018

hungary

D.Gera D.Gindl

Hungary: Decline in turnover as grounds for dismissal

more
newsletter

19 June 2018

romania

V.Săndulescu

Romanian companies will be able to distribute dividends on a quarterly basis

The Romanian Parliament recently approved the Law on the Amendment and Completion of the Accounting Law No. 82/1991, Amendment and Completion of the Companies Law No. 31/1990 and Amendment and Completion of Law No. 1/2005, on the organisation and functioning of cooperative companies.

more
newsletter

13 June 2018

austria

D.Hofmarcher

Beware: not only 25 May but also 9 June has passed

It seems not only companies but also many Member States were so busy preparing for the GDPR that they lost sight of the Trade Secrets Directive that should have been transposed into national laws by 9 June. That's regrettable, because it is important legislation between "privacy", unfair competition and IP, establishing a modern and for the first time EU-wide regime for the protection of trade secrets.

more
newsletter

12 June 2018

bulgaria

G.Petkova

Bulgaria: CPC deems minimum hotel accommodation prices anti-competitive

The Ministry of Tourism recently proposed the introduction of minimum prices for sites categorised as 'accommodation places'. In Decision 529/10.05.2018, the Commission for Protection of Competition (CPC) opined on the proposal's compliance with competition rules.

more
newsletter

Austria: ECJ latest Facebook ruling makes waves: Impact under the GDPR?

In its decision C-210/16 of 5 June 2018, the European Court of Justice (ECJ) ruled on a dispute between a German academic institution and a German data protection authority. The institution operated a fan page on Facebook and collected user data via cookies, which were placed by means of a function called "Facebook Insights".

more
newsletter

30 May 2018

romania

T.Artenie

Romania: Amendments to the Implementing Instructions for applying the Fiscal Code

We list below the main amendments included in the Government Decision no. 354/2018 amending and supplementing the Implementing Instructions for applying Law 227/2015 regarding the Fiscal Code.

more
newsletter

30 May 2018

austria

T.Kulnigg

Cybersecurity: Why it matters in M&A Transactions

At a time when we are all dependent on our IT systems and when digital assets are of central importance, cybersecurity is one of the most critical aspects to protect our businesses, know-how and data from being stolen, disclosed, deleted and/or manipulated.

more
newsletter

29 May 2018

hungary

K.Hetényi

Hungary: GDPR Considerations in M&A Transactions

The General Data Protection Regulation (GDPR) came into force on May 25 and introduced unified EU rules on personal data protection.

more
newsletter

29 May 2018

austria

C.Grassinger

Austria: Are you still buying or already mining? Mining cryptocurrencies as a permanent establishment

The taxation of cryptocurrency transactions is a hot topic. The Austrian Ministry of Finance recently issued an interesting ruling outlining when mining for cryptocurrencies in Austria by a non-resident taxpayer may trigger a permanent establishment.

more
newsletter

11 May 2018

austria

U.Rath M.Pressler

Österreich: FMA veröffentlicht Leitfaden zu IT-Sicherheit in Kreditinstituten

Am 8.5.2018 veröffentlichte die FMA einen Leitfaden, der die Risiken in Zusammenhang mit Informations- und Kommunikationstechnologien (IKT) in Kreditinstituten adressiert (der "Leitfaden"). Der Leitfaden ist auf der Homepage der FMA abrufbar.

more
newsletter

11 May 2018

R.Perner

WiEReG – Umfangreiche Sorgfalts- und Meldepflichten

more
newsletter

11 May 2018

romania

M.Neagu

Romania: Squeeze-outs of minority shareholders: methods and pitfalls

The squeeze-out of minority shareholders in closely held companies is one of the most controversial issues in Romania, having led to many debates both in and out of court.

more
newsletter

27 April 2018

hungary

A.Bognár K.Hetényi

Hungary: New Arbitration Rules of the HCCI

Following the entry into force of the new act on arbitration (Act LX of 2017 on Arbitration, the “Act”) this year, the Arbitration Court attached to the Hungarian Chamber of Commerce and Industry (“HCCI”) adopted its new procedural rules (“Arbitration Rules”) effective and applicable as of 1 February 2018.

more
newsletter

Austria: Proposals to alter national Data Protection Act

In Summer 2017, and thus before the autumn parliamentary elections took place, the legislature rushed through the national Data Protection Amendment Act 2018.

more
newsletter

EU: New Deal for Consumers - A Proposal to Strengthen Collective Redress

The European Commission has just published its comprehensive proposal for the so-called "New Deal for Consumers", which aims to strengthen EU consumer rights and enforcement. This includes the proposal for a new Directive enabling certain qualified entities to seek redress on behalf of consumers who have been harmed by an unlawful commercial practice.

more
newsletter

18 April 2018

austria

U.Rath

Begutachtungsentwurf zu Harmonisierung und Vereinfachung des Prospektrechts veröffentlicht

more
newsletter

18 April 2018

turkey

Turkey: Can your salary be paid in Bitcoin?

Bitcoin can be briefly defined as a new virtual payment system. It provides an online payment opportunity for the purchase of goods and services. Transactions in Bitcoin can be made between users without the need of an intermediary, as the system that does not require a central pool or sole manager, making it the first non-centralised currency.

more
newsletter

18 April 2018

austria

C.Jirak

Right to clean air – latest developments

In general, the Austrian legal system does not give individuals the right to force the legislature to act in a specific way or pass concrete laws. Normally, only political pressure can combat inaction. However, when it comes to air quality, things are different.

more
newsletter

18 April 2018

romania

G.Bădescu C.Manea

Romania: New recommendations from the Romanian Competition Council for online retailers

The Competition Council launched its report on the e-commerce sector, zooming-in the marketing strategy component, for public consultation.

more
newsletter

18 April 2018

austria

B.Rajal

Proposed amendments to gas ordinances and balancing system

To comply with the applicable EU regulations, E-Control recently published draft amendments to the Gas System Charges Ordinance 2018 and the Gas Market Model Ordinance. In response to international criticism, E-Control also proposed a redesign of the Austrian gas balancing system. In order to implement these amendments in the current Austrian gas market, E-Control, in cooperation with the transmission system operators Gas Connect Austria GmbH and Trans Austria Gasleitung GmbH, drafted a proposal to establish a virtual interconnection point at Baumgarten.

more
newsletter

18 April 2018

hungary

G.Szalóki V.Palguta

Hungary: Uncertainties related to ICOs and ITOs

Initial coin and token offerings (“ICO/ITO”) are innovative ways to finance startups similar to shares IPOs or crowdfunding. Startups may use these processes to raise funds with the aim of avoiding the rigorous regulation of the traditional capital-raising process.

more
newsletter

18 April 2018

hungary

D.Gindl D.Gera

Hungary: Equal pay for equal work in the case of a business transfer

Fighting discrimination and enforcing the principle of equal treatment has a great importance in employment relationships. Fighting the gender pay gap is an important facet of this problem, but not the only one.

more
newsletter

18 April 2018

austria

R.Perner

WiEReG – Umfangreiche neue Pflichten für Privatstiftungen

more
newsletter

17 April 2018

slovenia

U.Picelj

Slovenia: Food supply chain: changes to the menu

Following an examination by the Competition Protection Agency regarding unfair trading practices in the food supply chain (for further information please see "Unfair trading practices in food supply chain examined"), the government drafted a proposal to amend and supplement the Agriculture Act.(1) The proposal contained some major changes to the food supply sector. Parliament accepted the proposal on March 22 2018.

more
newsletter

09 April 2018

austria

P.Wetter P.Kalser

Austria: Responsibility to investigate - an update on avoidance risks

Following the opening of insolvency proceedings, the insolvency receiver typically tries to enlarge the insolvency estate by asserting voidance claims. Legal acts that occurred within certain suspect periods prior to the opening of insolvency proceedings might be declared void. Creditors may mitigate certain avoidance risks by investigating the debtor's financial situation when conducting legal transactions.

more
newsletter

08 April 2018

hungary

D.Gindl D.Gera

Hungary: Use of electronic documents in employment relationships

With the constant development and advancement of digital technologies, the use of paper-based documents is gradually decreasing in all areas of life. This has affected the form of legal documents used in public administration and court procedures, as well as for contracts.

more
newsletter

05 April 2018

poland

P.Kułak

Poland: Competition authority's first decision on unfair use of contractual advantage in food sector

In July 2017 the Act on Counteracting the Unfair Use of Contractual Advantage in Trade of Agricultural and Food Products entered into force. The act aims to protect small farmers and grocery suppliers against the abuse of power by large supermarkets and chain stores.

more
newsletter

European Union: VAT Regime 2.0 - Will the Empire Strike Back?

The European Commission proposed fundamental changes to the current Value Added Tax (VAT) regime, aimed at delivering a definite pan-European VAT system in order to tackle tax fraud as well as to unify and simplify VAT requirements for companies while lessening red tape.

more
newsletter

04 April 2018

romania

T.Artenie

Romania: The latest amendments to the tax legislation

Recently, several amendments to the existing tax legislation have been published, as follows:

more
newsletter

04 April 2018

Slovenia

Slovenia becomes next country to introduce restrictions on trans-fatty acids in foodstuffs

Among the constantly evolving measures aimed at consumer protection and health is the introduction of maximum permitted levels of trans-fatty acids ("TFA") in foodstuffs. Slovenia has joined certain other (EU) countries, which already restricted the content of TFA in food, by adopting new rules laying down maximum permitted levels of TFA in foodstuffs (Pravilnik o največji dovoljeni vsebnosti transmaščobnih kislin v živilih, "TFA Rules").

more
newsletter

04 April 2018

romania

A.Gal

Romania: Medical malpractice suits on the rise. Solutions for insurance companies

We're on top of legal developments in Austria and CEE. Are you? Subscribe to our weekly updates!

more
newsletter

Austria: (De)Regulatory Affairs or the Delegates' proposal for altering the national Data Protection Act

Last summer and thus, before the elections of the Austrian parliament took place in autumn, the Austrian legislator rushed through the national Data Protection Amendment Act 2018 (Datenschutz-Anpassungsgesetz 2018, DSG 2018). In the pre-election phase the governing parties could not find the required majority to amend the constitutional law provisions which are part of the current legal framework.

more
newsletter

28 March 2018

bulgaria

S.Tsekova

Bulgaria: Submitting the ESPD in electronic form - facilitation or a hurdle for ongoing public procurement procedures?

As of 1 April 2018, applicants in tender procedures must submit the European Single Procurement Document ("ESPD") in electronic form using a template provided by the European Commission. 

more
newsletter

27 March 2018

austria

M.Simsa T.Kulnigg

Österreich: Exit-Szenarien ausarbeiten und Finanzen managen: Was Start Ups vorab tun können um Krisenstimmung zu vermeiden

Schönherr lud vergangene Woche gemeinsam mit dem Branchennetzwerk primeCROWD ein, die Schattenseiten des Start Up-Unternehmertums zu diskutieren. Das Fazit: Wie in jeder Beziehung, ist ein offener und ehrlicher Dialog wichtig, um Krisen zu vermeiden oder zumindest gestärkt aus Krisen hervorzugehen. Zahlreiche Start Ups und Investoren waren in die Wiener Kanzlei gekommen um sich Expertenmeinungen und Tipps zu Gesellschafterstreitfälle, Verstimmungen zwischen Start Ups und Investoren sowie zum Thema Insolvenz zu holen.

more
newsletter

Beneficial Owner Register - what to disclose in Austria and Czech Republic?

The disclosure of beneficial owners has come to the fore with the EU Anti-Money Laundering Directive requiring EU member states to adapt their national legal provisions in respect of corporate and legal entities. The registering of beneficial owners in businesses is an attempt to prevent money laundering and to increase transparency of ownership of defined legal entities. The laws in all jurisdictions need to be strictly adhered to, in order to avoid sanctions. What is the applicability of these disclosure regulations in practice? What are the associated registration costs and deadlines involved? What are the sanctions for non-compliance?

more
newsletter

20 March 2018

croatia

P.Šantić*

New Gas Market Act - Croatian gas market reform continues in 2018

The new Gas Market Act came into force on 3 March 2018 (Zakon o tržištu plina)[1], with the primary aim of regulating the rights and obligations of participants in the Croatian gas market pursuant to the Third Gas Directive (2009/73/EC). In short, the Croatian gas market was legally liberalised in 2008, and de facto opened in the 2012/2013 gas season with a further gas market reform in 2014 and 2017. A brief outline of the latest amendments to the Gas Market Act adopted in February 2017 can be found here. Despite efforts to open up the Croatian gas market, in 2015 and 2017 the European Commission initiated two distinct infringement proceedings against Croatia for noncompliance with the above Directive.

more
newsletter

Austria: News from the crypto-world

Periodically Schoenherr will keep the crypto-community up-to-date with dedicated newsletters focusing on issues relating to initial coin offering (ICOs), initial token offerings (ITO) and Blockchain.

more
newsletter

08 March 2018

bulgaria

G.Petkova

Bulgaria: Private damages directive implemented in law

On January 3 2018 the Act for Amendment and Supplementation of the Competition Protection Act was promulgated in the State Gazette. The new act implements EU Directive 2014/104 (November 26 2014) on certain rules governing actions for damages under national law for infringements of national or EU competition law (the Damages Directive). 

more
newsletter

08 March 2018

austria

R.Perner

WiEReG – extensive duty-of-care and reporting requirements

more
newsletter

07 March 2018

croatia

C.Haid

Croatia: New unfair trading act

Over the past few years, European and national institutions have warned about the negative effects of unfair trading practices in the supply chain. 

more
newsletter

Kurzleitfaden zur EU-Datenschutz-Grundverordnung (DSGVO)

Die neue Datenschutz-Grundverordnung ("DSGVO") wird ab dem 25. Mai 2018 wirksam. Das bedeutet, ab diesem Zeitpunkt müssen alle Verarbeitungen personenbezogener Daten an die neue Rechtslage angepasst werden.

more
newsletter

26 February 2018

Austria Vienna Austria Linz

Austria: FMA publishes new circulars concerning PRIIPS and remuneration policies

German version of the text 

On 20 February 2018, the Austrian Financial Market Authority (FMA) published a new circular concerning key information documents for packaged retail and insurance-based investment products. The circular is available only in German on the FMA homepage.

more
newsletter

25 February 2018

austria

G.Leissler M.Woller W.Tichy

Österreich: Selbstlernende Systeme: Wem gehört’s – wer hat Schuld?

Die rasante technologische Entwicklung bis hin zu den sich selbst weiterentwickelnden Systemen künstlicher Intelligenz verlangt nach neuen juristischen Denkansätzen.

more
newsletter

22 February 2018

czech republic

O.Fiala

Persistent uncertainty regarding the amendment to the Czech Building Act

The proclaimed goal of the new legislation is to speed up the lengthy approval process hindering building projects. Nevertheless, some provisions of the amendment were challenged before the Constitutional Court.

more
newsletter

21 February 2018

Austria Vienna Austria Linz

Österreich: Die FMA veröffentlicht neue Rundschreiben zur PRIIPS-VO und Vergütungspolitik

English version of the text

Am 20. Februar 2018 hat die Finanzmarktaufsichtsbehörde (FMA) ein neues Rundschreiben über Basisinformationsblätter für verpackte Anlageprodukte für Kleinanleger und Versicherungsanlageprodukte (PRIIP) veröffentlich. Das Rundschreiben ist auf der Homepage der FMA abrufbar.

Bereits am 19. Januar 2018 hatte die FMA eine aktualisierte Fassung ihres Rundschreibens zu den Grundsätzen der Vergütungspolitik und –praktiken veröffentlicht und zum Abruf bereitgestellt.

more
newsletter

21 February 2018

serbia

A.Vukčević

New Montenegrin Law Seeks to Modernise the Tourism and Hospitality Industry

On 29 December 2017, the Montenegrin parliament adopted a new Law on Tourism and Hospitality (the "Law"), which entered into force on 18 January 2018.

more
newsletter

Will amendments to the Serbian Labour Act prevent illegal work?

A recent series of amendments to the Labour Act adopted by the National Assembly of the Republic of Serbia entered into force on 25 December 2017.

more
newsletter

07 February 2018

slovenia

U.Picelj

Slovenia: Unfair trading practices in food supply chain examined

The Competition Protection Agency recently published the results of a survey on unfair trading practices in the food supply chain, which the agency conducted among suppliers of food products, including producers, purchasers, processing companies and intermediaries. Despite the small number of responses, the agency obtained some useful information on the functioning of the Slovenian food market.

more
newsletter

07 February 2018

romania

T.Artenie

Romania: the Government adopts a solution to maintain net wages for certain categories of tax exempt employees

In the Official Gazette of Romania no. 125/08.02.2017, the Emergency Ordinance no. 3/2018 on certain fiscal budgetary measures was published.

more
newsletter

17 January 2018

Czech Republic

European Commission adopts rules clarifying requirements for traceability and security systems for tobacco products

On 15 December 2017, the European Commission adopted secondary legislation clarifying the requirements for EU-wide tracking and security systems for tobacco products, the implementation of which is presumed by Articles 15 and 16 of the new Tobacco Products Directive.

more
newsletter

16 January 2018

austria vienna austria linz

International Politics vs International Justice: No Room for Investor-State Arbitration?

Critics of the current investor-state arbitration regime may yet have their best days ahead of them. In the midst of tarnished FTA negotiations and in times of political uncertainty, they have captured a global audience. Their message is disconcerting: Investor-State Dispute Settlement (ISDS) is a system designed by and for multinational corporations. It allows faceless conglomerates to bypass national courts and thus strips sovereign nations of their policy-making powers and taxpayers of their money.

more
newsletter

16 January 2018

austria vienna austria linz

International Politics vs International Justice: No Room for Investor-State Arbitration?

Critics of the current investor-state arbitration regime may yet have their best days ahead of them. In the midst of tarnished FTA negotiations and in times of political uncertainty, they have captured a global audience. Their message is disconcerting: Investor-State Dispute Settlement (ISDS) is a system designed by and for multinational corporations. It allows faceless conglomerates to bypass national courts and thus strips sovereign nations of their policy-making powers and taxpayers of their money.

more
newsletter

16 January 2018

poland

P.Kułak

Poland: Supreme Court provides guidance for calculating fines in resale price maintenance cases

In a recent antitrust judgment, the Supreme Court provided an additional explanation of its approach to calculating fines in cases of collusion concerning resale prices (ie, resale price maintenance). 

more
newsletter

16 January 2018

hungary

A.Turi

Hungary: Compliance and compensation in consumer protection cases: the Vodafone example

A recent Hungarian Competition Authority (HCA) decision concerning Vodafone (Case Vj/12/2016) demonstrates that a reasonable cooperative approach may significantly affect the level of fine imposed on an undertaking. 

more
newsletter

16 January 2018

hungary

D.Gera

Hungary: Procedural aspects of equal treatment claims

The Supreme Court recently issued a reasoned opinion on certain legal and procedural aspects of employment-related suits involving equal treatment claims. Although the opinion is not a source of law, it will serve as guidance for legal practitioners and courts dealing with such claims.

more
newsletter

15 January 2018

austria

P.Nimmerfall

Austria: Managers under trade law: how will Constitutional Court rule?

The Higher Administrative Court(1) recently requested that the Constitutional Court repeal Section 39(2) of the Trade Act, as it infringes fundamental rights guaranteed by the Constitution. Initially, this update gives a brief overview of the prerequisites to obtain a trade licence and appoint a director under trade law in Austria.

more
newsletter

11 January 2018

bulgaria

G.Petkova

Bulgaria: Commission fines Laptop.BG for video blog content

The Commission for the Protection of Competition fined Laptop.BG Lev47,265 (approximately €24,160) for unfair practices in the form of contradicting genuine practices. The penalty represents 0.5% of the net income of Laptop.BG sales.

more
newsletter

04 January 2018

Austria Vienna Austria Linz

New VIAC Rules of Arbitration and Mediation 2018

A new version of the VIAC Rules of Arbitration and Mediation has entered into force on 1 January 2018 ("Vienna Rules and Vienna Mediation Rules 2018"). The Rules will apply to all proceedings that commence after 31 December 2017. The most important novelty: the VIAC will henceforth also administer purely domestic arbitration/mediation cases in addition to the international cases that have so far been the exclusive focus of the VIAC's case load.

more
newsletter

03 January 2018

bulgaria

E.Todorova

Bulgaria has liberalised the legal requirements on mixtures containing 1,4-Butanediol and y-Butyrolactone

On 20 December 2017, the Bulgarian parliament voted on a legislative amendment that will allow the marketing of risky substances containing mixtures intended for industry use.

more
newsletter

20 December 2017

bulgaria

G.Roussinova

Bulgaria: Substantial changes for non-profit legal entities from 1 January 2018

A number of laws regulating the establishment, activities and termination of non-profit legal entities in Bulgaria have been reformed. The most important changes are:

more
newsletter

19 December 2017

Serbia

Serbia: Competition Authority's regional cooperation

In November 2017 the Competition Authority intensified its activities regarding regional cooperation. Representatives of the authority met with colleagues from the Competition Council of Bosnia and Herzegovina and attended conferences organised by the competition authorities of Romania and Croatia.

more
newsletter

19 December 2017

Bosnia & Herzegovina

Bosnia and Herzegovina: Competition Council – no concentration when company takes over competitor's premises

The Competition Council recently took a stand regarding whether a situation in which a food retail company takes over a competitor's business premises and continues the same business activity in those premises constitutes a concentration. The council concluded that such situations should be notified as they are not considered concentrations according to the Competition Act.

more
newsletter

19 December 2017

albania

Albania: Technology Transfer Block Exemption Regulation

The Competition Authority recently prepared the draft Technology Transfer Block Exemption Regulation. The draft regulation is aligned with EU Regulation 316/2014 on the Application of Article 101(3) of the Treaty on the Functioning of the European Union to Categories of Technology Transfer Agreements (March 21 2014). The authority put the regulation forward for public debate and is awaiting comments.

The authority recently celebrated the 14th anniversary of the Competition Act. On December 1 2003 the first modern competition law – aligned to a certain extent with acquis communitaire – entered into force in Albania. This was shortly followed by the entry into force of the Competition Act and the establishment of the Competition Authority in March 2004.

This article was first published on www.internationallawoffice.com 

more
newsletter

14 December 2017

austria

C.Jirak

Automated driving: positive climate impact and recent efforts

The Paris Agreement sets the ambitious goal of achieving net zero greenhouse gas emissions in the second half of the 21st century. Therefore, worldwide traffic and transport must change. Despite these objectives, people tend to overlook the fact that automated driving is not only innovative and comfortable, but may also have an important impact on reducing greenhouse gas emissions in future.

more
newsletter

12 December 2017

hungary

C.Haid

Hungary Update (III): Authority appoints first divestment trustee

There have been quite a few developments in Hungarian competition law over the past weeks. While legislators have introduced further changes to the Competition Act (see here for Update II), the Hungarian Competition Authority ("HCA") has issued two new decisions, assuming jurisdiction over a merger below the mandatory – but above the voluntary – merger control thresholds and appointing its first trustee in a merger control case.

more
newsletter

Bosnia and Herzegovina: New Competition Act expected in 2018

The Competition Council of Bosnia and Herzegovina recently set out its objectives and priorities for 2018 in its 2018 Work Programme.

more
newsletter

11 December 2017

czech republic

C.Bock

Czech Republic: Competition Authority publishes information paper on dawn raids

more
newsletter

07 December 2017

hungary

C.Haid

Hungary Update (II): Amendments to the Competition Act

There have been quite a few developments in Hungarian competition law over the past weeks. While legislators have introduced further changes to the Competition Act, the Hungarian Competition Authority ("HCA") has also issued two landmark decisions, appointing its first trustee in a merger control case (see [please include hyperlink] for Update III) and assuming jurisdiction over a transaction where the parties' turnover was below the mandatory – but above the voluntary – merger control thresholds (see here for Update I).

more
newsletter

07 December 2017

hungary

K.Hetényi A.Bognár

Hungary: A New Era of Collective Claims

On 1 January 2018, a new Act on civil court procedures will come into force, bringing a 50-year-long era to an end. The new law reforms existing shortcomings, such as lengthy and tedious procedures, and introduces mechanisms already widespread in Western and common-law jurisdictions, such as collective redress.

more
newsletter

06 December 2017

austria

S.Lukic

Towards a Post-Arbitration Age: The European Commission’s Fast-Track Reform of Investment Dispute Settlement

The European Commission (“EC”) has recently taken another step in its efforts to replace the traditional investor-state-dispute-settlement (“ISDS”) mechanism which underlies the approximately 1,400 bilateral investment agreements in force between EU Member States and third countries.

more
newsletter

06 December 2017

hungary

A.Turi

Hungary: HCA uses new investigative tool under merger control regime

Following a recent amendment to the Competition Act, the Hungarian Competition Authority (HCA) was given significant new investigative powers under the framework of its merger control duties. 

more
newsletter

Impact of the GDPR on the West Balkans

The General Data Protection Regulation ("GDPR"), which is expected to create a high-level and uniform framework for data protection in the European Union, becomes applicable on 25 May 2018.
Under the conditions set by the GDPR, its application will extend to non-EU West Balkan countries as well.

more
newsletter

27 November 2017

Austria Vienna Austria Linz

EU Directive 2017/828 – cornerstone of increased shareholder engagement?

EU Directive 2017/828, amending Directive 2007/36/EC as regards the encouragement of long-term shareholder engagement, was published on May 17 2017. As its title indicates, the directive aims to increase shareholder engagement in listed companies with their corporate seat in the European Union. It must be transposed into national law by June 10 2019.

more
newsletter

24 November 2017

austria

M.Woller C.Schumacher

Amendments to Austrian Trademark Law

Recently, the Austrian Trademark Protection Act (MSchG) was amended in order to partly implement the EU Trademark Directive 2015/2436 and to better adapt the national provisions to the needs of trademark owners – "Trademark Initiative 2017" by the Austrian Intellectual Property Office (IPO). Most of the amendments have been in force since 1 September 2017.

more
newsletter

22 November 2017

austria

U.Rath M.Pressler

Austria Adopts Statutory Outsourcing Regime for Credit Institutions

The Austrian parliament recently passed an amendment to the Austrian Banking Act (Bankwesengesetz – BWG), introducing a new statutory outsourcing regime for credit institutions applicable from 3 January 2018.
 

more
newsletter

22 November 2017

hungary

D.Gera

Hungary: Incapacity to work – what can employers do?

Employers are often frustrated by employees' incapacity to work for health reasons. In an attempt to protect employee interests, legal regulations provide certain restrictions on what employers can do if an employee is unable to work for health reasons. A recent Supreme Court decision has further clarified some of these restrictions.

more
newsletter

21 November 2017

romania

T.Artenie

Romania: Upcoming Country-by-Country notification and reporting obligations in Romania

Starting with 2017, Multinational Enterprise Groups (MNE) present in Romania face new compliance requirements (i.e. notification and/or reporting obligations) in the field of transfer pricing, subject to certain criteria. It is recommendable that during the upcoming period these companies take actual steps towards ensuring compliance with these obligations.

more
newsletter

20 November 2017

hungary

C.Haid A.Turi

Hungarian Competition Authority assumes jurisdiction over a merger - the new investigative tool in action

The recent amendments to the Hungarian competition act not only raised the turnover thresholds for an obligatory merger control filing, but introduced the possibility of a voluntary filing if the parties achieved a combined domestic turnover of more than EUR 16 million in the preceding business year, and the transaction has the potential to restrict competition significantly. 

more
newsletter

19 November 2017

austria

M.Pressler U.Rath

Österreich führt gesetzliche Regelungen für Auslagerungen von Kreditinstituten ein

Das österreichische Parlament hat eine Novelle zum Bankwesengesetz (BWG) verabschiedet, die erstmals rechtsverbindliche Regelungen für die Auslagerung bankbetrieblicher Aufgaben vorsieht. Die Bestimmungen treten mit 3. Jänner 2018 in Kraft.

more
newsletter

17 November 2017

Austria Vienna Austria Linz

EU: Non-Performing Loans - Challenges Ahead and Recent Developments

On 10 November 2017, the European Commission launched a targeted consultation on minimum levels of capital for banks in the context of non-performing loans. This consolidation follows the Action Plan for Non-Performing Loans and is part of the general attempt to support a significant and sustainable reduction of NPL levels within the EU. The consultation is open until 30 November 2017.

more
newsletter

16 November 2017

poland

P.Kapica D.Rutecka

Poland: New Rules on Confiscation to Fight Crime

On 27 April 2017, an amendment to the Polish Criminal Code and the Criminal Procedure Code implementing Directive 2014/42/EU of the European Parliament and of the Council of 3 April 2014 on the freezing and confiscation of instrumentalities and proceeds of crime in the European Union came into force (the "Amendment"). 

more
newsletter

15 November 2017

romania

T.Artenie

Romania: The amendments to the Fiscal Code in force as of 1 January 2018

We list below the main amendments included in the Emergency Ordinance 79/2017 amending and supplementing Law 227/2015 on the Fiscal Code, to enter into force starting with January 2018.

more
newsletter

10 November 2017

Croatia

Croatia: Adoption of a new Money Laundering and Terrorism Financing Prevention Act

On 27 October 2017, the Croatian Parliament enacted a new Money Laundering and Terrorism Financing Prevention Act (Zakon o sprječavanju pranja novca i financiranja terorizma; the "AML Act"). The main reason behind it was the transposition of the 4th AML Directive (Directive (EU) 2015/849) into the Croatian legal system.The most notable change in relation to the current Money Laundering and Terrorism Financing Prevention Act in force is the establishment of the Beneficial Owner Register as the central electronic database on the beneficial owners of legal entities (the "Register"). Despite pressure from public organisations, the Register remained inaccessible to the public.

more
newsletter

EU: Lex "Nord Stream 2" in the pipeline

The European Commission has proposed an amendment to the Third Gas Directive 2009/73/EU ("Gas Directive") in order to extend the common gas rules to import pipelines. This will ensure the coherent applicability of the core principles of EU energy legislation (third-party access, tariff regulation, ownership unbundling and transparency) to all gas pipelines to and from third countries.

more
newsletter

09 November 2017

austria

M.Stimakovits

Arbitration: Collective Redress in Austria and the European Union

The development of effective instruments for collective redress is a widely discussed topic among European politicians, consumer protectors, legal scholars and dispute resolution lawyers. 

more
newsletter

09 November 2017

austria

C.Benes

Update Austrian Stamp Duty Act – Residential Leases

Due to the amendment of the Austrian Stamp Duty Tax Act, lease agreements concerning residential premises are exempt from Stamp Duty Tax since November 11, 2017 (§ 33 TP 5 Abs 4 Z 1 GebG; this tax was up to 1 % of three times the annual gross rent). This exemption does not affect lease agreements regarding business premises, which are still subject to Stamp Duty Tax.

more
newsletter

07 November 2017

croatia

O.Kobsa*

DIP (supersenior) Financing in Croatian Insolvency

more
newsletter

02 November 2017

Czech Republic

New Legislative Framework for Class Actions in the Czech Republic

The Ministry of Justice's proposal to introduce collective redress mechanisms in the Czech Republic was published on 26 September 2017. If approved by the Czech Government, the Ministry will proceed to draw up a legislative bill before the end of 2018.

more
newsletter

31 October 2017

austria

C.Grassinger

Intercompany Transactions: How does BEPS Change Transfer Pricing?

The OECD's Anti Base Erosion and Profit Shifting Initiative (BEPS) significantly affects current transfer pricing regimes regarding intangibles, documentation and dispute resolution.

more
newsletter

30 October 2017

romania

G.Bădescu C.Manea

Competition: Restrictive definition of the geographic market - food retail

The Romanian Competition Council (the "RCC") will amend the review of geographic market when assessing mergers in the food retail sector, due to behavioral changes of companies active on the market and of consumers – as disclosed in a study prepared by the RCC.

more
newsletter

30 October 2017

romania

M.Cojocaru

Romania to Introduce New Oil & Gas Royalties Regime

The Romanian government recently opened discussion on a long-awaited draft law aimed at redefining the existing oil & gas royalties system.

more
newsletter

25 October 2017

austria

U.Rath

What is Fit&Proper? Challenges Under the New Joint Fit&Proper Guidelines of ESMA and EBA

On 26 September 2017, the European Banking Authority ("EBA") and the European Securities and Markets Authority ("ESMA") published the final report of their joint guidelines on the assessment of the suitability of members of the management body and key function holders in accordance with Article 91 (12) of Directive 2013/36/EU ("CRD IV") and Article 9 of Directive 2014/65/EU ("MiFID II") (the "Fit&Proper Guidelines").
The Fit&Proper Guidelines aim to harmonise and improve suitability assessments within the European financial sector, and to ensure sound governance in financial institutions in line with CRD IV and MiFID II.

more
newsletter

24 October 2017

romania

I.Sava

Romania: Authorities Start Imposing Sanctions for Lack of Fire Safety Authorisations

From 1 October 2017, the Romanian fire safety authorities may start imposing sanctions on the beneficiaries of existing construction projects in Romania who failed to obtain (or at least apply for) the mandatory fire safety authorisation.

more
newsletter

19 October 2017

Croatia

(Crypto)tokens and Initial Coin Offerings – Croatian Legal Framework

An ICO or Initial Coin Offering is a new disruptive crowdfunding mechanism where a backer of a project founded on a blockchain technology receives an underlying token as opposed to "regular" crowdfunding or an IPO where the backer receives a product or a security. Funding is mostly made in the form of other tokens (eg bitcoin or ether).

more
newsletter

18 October 2017

poland

B.Jóźwik

From temporary employment to retirement age: News from the Polish labour law

more
newsletter

18 October 2017

serbia

S.Petronijević

Competition Authority begins work on new Competition Act and block regulations

The Competition Authority, together with the Ministry for Trade, Tourism and Telecommunications, has lodged an initiative for the new Competition Act, which will replace the Competition Act 2009 (amended in 2013).

more
newsletter

12 October 2017

poland

P.Kułak

Competition authority adopts new approach to gathering electronic evidence during dawn raids

The Warsaw Court of Competition and Consumer Protection recently delivered a significant judgment regarding the collection of electronic evidence during unannounced inspections conducted by the Office for Competition and Consumer Protection.

more
newsletter

02 October 2017

austria

C.Cudlik C.Schmelz

Austria: New outlines for water management and planning

The main objectives of the EU Water Framework Directive are to achieve a good status in surface and groundwater bodies, good ecological potential and a good surface water chemical status in artificial and heavily modified water bodies. To achieve these objectives, EU member states had to issue a programme of measures and a river basin management plan for the first of three six-year planning cycles in 2009. The second programme of measures and the river basin management plan were due on December 22 2015.

more
newsletter

01 October 2017

serbia

S.Petronijević

Competition Authority to monitor mobile phone retail market

In September 2017 the Competition Authority officially closed the investigation into the mobile phone retail market which it opened earlier in 2017 following three complaints regarding alleged coordinated practices and potential abuse of dominant position.

more
newsletter

01 October 2017

serbia

S.Petronijević

Competition Authority imposes first fine for pre-implementation

The Competition Authority recently launched ex officio proceedings to investigate an acquisition of sole control by Prointer IT Solutions and Services doo over Alti doo.

more
newsletter

30 September 2017

austria

T.Kulnigg

Are ICOs the future of fund raising?

With credit institutions still reluctant to provide financing to start-ups, many companies are looking for new ways to raise funds. Others are exploring ways to integrate new technology such as Distributed Ledger Technology (DLT), Blockchain and SmartContracts into their existing business models. Either way, initial coin offerings (ICO) or initial token offerings (ITO) are currently trending.

more
newsletter

28 September 2017

austria

F.Urlesberger

ECJ Confirms: Only Full-function Joint Ventures Notifiable in Brussels[1]

The European Court of Justice held in a preliminary ruling following a request by the Austrian Supreme Court that the creation of joint ventures does not constitute a concentration under the EC Merger Regulation ("ECMR"), unless the joint venture can be regarded as a full-function undertaking.

more
newsletter

27 September 2017

Serbia

Sketching the Setting Aside of Arbitral Awards in Serbia

For many doing business in Serbia, the local legal framework, including for arbitration, is the great unknown. However, a short introduction to this legal culture should suffice to reveal that when it comes to arbitration-related matters, Serbian laws are not so different from those in countries hosting some of the most popular arbitral seats.

more
newsletter

22 September 2017

czech republic

E.Purgerová

Czech Republic: New Developments in Contract Registration

The Act No. 340/2015 Coll., on special conditions for the effectiveness of some contracts, the publication of these contracts and the register of contracts (the "Act") has been in effect since 1 July 2016, from which date contracts concluded with certain subjects, such as the state (the Czech Republic), state fund, etc., if the amount of the contract is above CZK 50,000, need to be published in the register of contracts (the "Register").

more
newsletter

20 September 2017

romania

T.Artenie

Romania to introduce mandatory VAT split payment mechanism

By way of a recent measure that has resulted in numerous debates and raised significant criticism, the Romanian Government has decided to change the country's VAT payment system. The new VAT split payment mechanism's implementation is unique in the European Union, and affects all taxpayers registered for VAT purposes in Romania.

more
newsletter

20 September 2017

hungary

D.Gera

Intragroup transfers of HR data

With the EU General Data Protection Regulation (GDPR) (2016/679) set to enter into force, data protection has become a hot topic for businesses throughout the European Union. Companies and enterprises operating in EU member states have made significant efforts to ascertain whether their data processing activities comply with the GDPR and identify areas that need to be revised to ensure compliance.

more
newsletter

19 September 2017

montenegro

S.Petronijević

At a glance: Competition Authority activities in 2016

more
newsletter

13 September 2017

hungary

G.Szalóki V.Palguta

Closer to market needs - recent amendments to the Hungarian insolvency regulation

The amendment to the Hungarian Insolvency Act came into force on 1 July 2017, with the aim of enhancing the protection of beneficiaries of security interests, and clarifying the position of creditors in liquidation proceedings, which are secured by call option, security assignment or pledge over future receivables.

more
newsletter

13 September 2017

romania

M.Roibu

Romania: Environmental Protection through Criminal Law – Excesses, Omissions and other Flaws

The issue of environmental crime has been addressed in international and European fora for many years. The most recent international event dedicated to environmental protection was the 5th EELF Annual Conference "Sustainable Management of Natural Resources – Legal Instruments and Approaches" held from 30 August to 1 September 2017 at the University of Copenhagen.

more
newsletter

12 September 2017

czech republic

C.Bock

New law implementing EU Damages Directive

On September 1 2017 the new Act on Damages in the Field of Competition (Damages Act)(1) came into force. The Czech Republic has thus finally joined the list of EU countries that have implemented the EU Damages Directive,(2) which establishes common EU rights for cartel victims seeking damages.(3) The Damages Act introduces many novelties into national law, which aim to improve the procedural status of citizens and businesses that claim compensation before the national courts for damages caused by an infringement of EU or national antitrust rules.

more
newsletter

07 September 2017

hungary

K.Hetényi

Potential Hurdle for Acquisitions in Hungary by Non-EU and Non-EEA Investors

The Hungarian Ministry of the Interior recently submitted a legislative proposal to the Hungarian Government to amend the Act on Hungarian National Security Services (the "Proposal").

more
newsletter

06 September 2017

romania

European Court of Human Rights: Employers have limited rights to monitor employee communications at work

A landmark decision was issued yesterday (Judgement Bărbulescu v. Romania), a source of debate in the media, in which the European Court of Human Rights clarified the restrictions on monitoring employees in the workplace.

more
newsletter

05 September 2017

Austria Vienna Austria Linz

Beneficial Ownership Register to be introduced in Austria

Parliament recently passed a new law on the registration of beneficial owners of Austrian legal entities. After obtaining the necessary approval of the Austrian federal states, the law is expected to be published in the Federal Law Gazette in September 2017 and will enter into force on January 15 2018.

As part of tranposing the Fourth Anti-money Laundering Directive(1) into national law, the law contains:

  • the definition of a 'beneficial owner' for the entire Austrian anti-money laundering regime; and
     
  • provisions on the establishment and operation of the Beneficial Ownership Register.

In disclosing the relevant information on beneficial owners, the register aims to detect and prevent money laundering, especially with regard to complex corporate structures, holding companies or private foundations and trusts.

more
newsletter

04 September 2017

austria

N.Zafoschnig

Austria: New rules for mismatched unbundled capacities at interconnection points

The Gas Market Model Ordinance 2012 introduced a new gas market model in Austria. The ordinance regulates network access, capacity management and the balancing system in the three Austrian gas market areas: East, Tyrol and Vorarlberg.

more
newsletter

31 August 2017

hungary

A.Turi

Hungary: HCA steps up against bid rigging in public procurement

Public procurements are often targets for bid rigging. The harm that a rigged public procurement can cause does not need explaining. Therefore, the Hungarian authorities and legislature have made extra efforts to fight this kind of behaviour.

more
newsletter

31 August 2017

slovenia

E.Škufca

Automotive industry again under scrutiny by Competition Protection Agency

The Competition Protection Agency is once again looking into the automotive sector by opening an antitrust proceeding against Renault (which operates as RENAULT NISSAN SLOVENIJA, doo) on July 13 2017. 

more
newsletter

16 August 2017

Czech Republic

Czech Republic: Fifth Anniversary of Mediation in the Czech Republic

Mediation as an alternative to classic dispute resolution in other than criminal matters was formally incorporated into the Czech legal system in September 2012.

more
newsletter

14 August 2017

bulgaria

G.Petkova

Bulgaria: CPC opinion on draft act for amendment of Administrative Procedure Code

more
newsletter

10 August 2017

hungary

D.Gera

Hungary: Consultation duties in event of collective redundancy

The regulations of the Hungarian Labour Code concerning Employers' consultation duties and their respective interpretation by the Hungarian Authorities raises questions regarding compliance with European regulations, in particular with the EU Collective Redundancies Directive (98/59/EC).

more
newsletter

First Annual Privacy Shield Review to take place in September 2017

One of the core principles of the EU-US Privacy Shield ("Privacy Shield") is its Joint Review mechanism, which obliges the European Commission, the US Department of Commerce and the Federal Trade Commission to jointly review the functioning of the Privacy Shield on an annual basis, together with its national security and law enforcement aspects. The very first Joint Review is scheduled for September 2017. This first review is considered especially important, as it will be the first opportunity for US and EU regulators to closely analyse the operation of the Privacy Shield, address possible concerns about its functioning, and seek to ensure that the Privacy Shield continues to be a valid legal basis for transfers of personal data from the EU to the US.

more
newsletter

27 July 2017

Serbia

Serbian Competition Authority Steps Up Antritrust Enforcement

The Serbian Commission for Protection of Competition (the "Commission") recently intensified its antitrust activities before the new Administrative Act came into effect. In one week alone the Commission initiated four antitrust cases and conducted two dawn raids.

more
newsletter

EU: High-Level Expert Group on Sustainable Finance delivers early recommendations

On 13 July 2017, the High-Level Expert Group ("HLEG") on Sustainable Finance published its interim report ("Interim Report") setting out concrete steps to create a financial system that supports sustainable investments.
This Legal Insight is part of our dedicated newsletter series on the European Capital Markets Union ("CMU").

more
newsletter

Another Win for European Commercial Agents: Overriding Mandatory Austrian Law Provisions to Supersede Arbitration Agreement

On 1 March 2017 the Austrian Supreme Court (Oberster Gerichtshof) ruled on whether potential claims under the Austrian Commercial Agents Act (Handelsvertretergesetz) can be brought before an Austrian court even if the underlying agency agreement contains an arbitration clause and is governed by the laws of New York (OGH 1.3.2017, 5 Ob 72/16y). The judgment addresses international overriding mandatory provisions on the compensation of commercial agents and builds on two related ECJ decisions.

more
newsletter

21 July 2017

Hungary

A.Turi

Legality of large retail chains' use of rebates remains dubious

In Hungary, as in most countries, the main players on the food and fast-moving consumer goods retail market are a handful of big supermarket chains. Their buyer power – and the alleged abuse of this power – has been the subject of numerous competition law investigations.

more
newsletter

20 July 2017

bulgaria

G.Petkova

Bulgaria: Remedies imposed on fuel companies following cartel investigations

For the second time in less than five years, the Bulgarian Commission for the Protection of Competition ("Commission") has opened investigation proceedings regarding prohibited agreements and concerted practices against the major fuel companies in Bulgaria and closed them without issuing penalties.

more
newsletter

19 July 2017

Serbia

Bosnia & Herzegovina : New Competition Council members appointed

The process for appointing new Competition Council members began in October 2016. Six months later, the council is complete and operational.

more
newsletter

EU: Council Introduces Action Plan for NPLs

On 10 July 2017, the Commission announced the public consultation on the development of secondary markets for non-performing loans (NPLs) and distressed assets. Following the commencement of this public consultation, the Council introduced its Action Plan for NPLs.

As of the end of 2016, the outstanding volume of NPLs in the EU was EUR 1 trillion. The Council considers a solution for NPLs paramount to boost bank profitability, remove a lock-up of capital and reduce the risks for the viability of banks with high NPL ratios. While the Council considers it the responsibility of each bank to manage its NPL portfolio, certain actions need to be taken to provide banks with a functioning framework to resolve their NPL issues.

more
newsletter

18 July 2017

hungary

A.Bognár

Hungary: Are Interim Measures Hard to Enforce?

The Hungarian Parliament recently passed new legislation on arbitration (Act LX of 2017 on Arbitration, the “2017 Act”) that will reform Hungarian arbitration law as of 1 January 2018.

more
newsletter

17 July 2017

austria

C.Schmelz C.Jirak

Austria: Constitutional Court raises hope for third runway at Vienna International Airport

On June 29 2017 the Constitutional Court reached a landmark decision and overturned the Federal Administrative Court's February 2017 decision, which had rejected the permit for a third runway at Vienna International Airport on the grounds of climate protection and land use (for further details please see "Climate impact: game changer for third runway at Vienna Airport"). The Constitutional Court decided that it was unconstitutional for the Federal Administrative Court to include climate protection and land consumption in its decision.

more
newsletter

Austria: Slightly Lower Fees, a Little More Liberalisation - The 2017 Amendments to the Austrian Trade Act

Following a year of intense political discussion, the Austrian Parliament adopted numerous amendments to the Austrian Trade Act 1994 (Gewerbeordnung 1994, "GewO") at the end of June. While the reform falls significantly short of the outgoing government's original announcements last July with the aim to liberalise market access and to cut red tape for businesses, it nevertheless introduces several material changes to business activity in Austria.

more
newsletter

10 July 2017

Serbia

Serbia: Competition authority fines two breweries €8.5 million

The Commission for the Protection of Competition recently issued a decision determining that two breweries – Pivara Skopje ad Skopje (from December 17 2012) and Pivarnica Prilep ad Prilep (from November 13 2010) – were engaged in resale price maintenance.

more
newsletter

Austria: Update on Austrian-German single electricity market

For nearly 15 years Austria and Germany have shared a single electricity market, under which traded power market flows and cross-border capacity are not formally matched, and thus there is no congestion management on the Austrian-German interconnector. The German and Austrian electricity wholesale markets have since constituted a single bidding zone for electricity; thus, the same wholesale electricity price applies in both countries.

more
newsletter

06 July 2017

austria

T.Waidmann

Austria: Avoid Expensive Mistakes As Startup Employer

As violations may lead to enormous liabilities, start-up employers are advised from the outset to comply with the applicable laws pertaining to their personnel. 

more
newsletter

06 July 2017

Serbia

Serbia: Competition Authority fines manufacturers of edible sunflower oil

On March 13 2017 the Competition Authority determined that two edible sunflower oil market competitors (Vital and Victoriaoil) had concluded a restrictive agreement that limited the production of edible oil and inhibited competition on the market.

more
newsletter

Renewable Energy: Amendment of the Austrian Green Electricity Act Doubles Funding

After four months of negotiations, the Austrian National Council has finally reached an agreement on the amendment of the Green Electricity Act ("Ökostromnovelle"). 

more
newsletter

04 July 2017

austria

P.Wetter

Austria: Major Changes in Personal Bankruptcy Law

On 28 June 2017 the Austrian Parliament passed the government's legislative proposal on insolvency law (Insolvenzrechtsänderungsesetz 2017). 

more
newsletter

03 July 2017

austria

U.Rath

The EU Capital Markets Union – New Prospectus Regulation Finally Published in Official Journal

On 30 June 2017, Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market – the new Prospectus Regulation (the "Prospectus Regulation") – was published in the Official Journal of the European Union. 

more
newsletter

29 June 2017

Czech Republic

What does the 22nd Amendment to the Czech Copyright Act Mean for Businesses?

Act No. 102/2017 Coll., amending Act No. 121/2000 Coll., the Copyright Act, entered into force on 20 April 2017, while some changes will only take effect on 1 July 2017. One of the main purposes of the new legislative framework is to implement Directive 2014/26/EU on collective management of copyright and related rights and multi-territorial licensing of rights in musical works for online use in the internal market. The amendment also responds to some practical issues in relation to the licensing of copyrighted works, and generally aims to make the Copyright Act more coherent.

The following summary focuses on changes having immediate implications for typical legal issues that arise in corporate transactions and in day-to-day commercial arrangements.

more
newsletter

Lessons Learned over Three Years: Amendment of the Hungarian Trust Regulation

The Hungarian Parliament passed an act in June 2017 with the aim of improving Hungary's business competitiveness. Among other things, the amendment has changed the regulation of trusts and their management, hopefully for the better, since the past three years have shown that a lack of such experience still exists. 

more
newsletter

27 June 2017

hungary

D.Gera

Hungary: Conflicts of interest in employment relationships

The circumstances that can result in an employee conflict of interest cannot be listed exhaustively in laws or companies' internal regulations.

more
newsletter

27 June 2017

austria

P.Wetter

Recast of the EU Regulation on Insolvency Law Applicable as of Today

The EU Regulation on Insolvency Law 1346/2000 (EIR) was considered a milestone in the cross-border coordination of national insolvency proceedings. The recast of the EU Regulation on Insolvency Law 2015/848, applicable to insolvency proceedings opened after 26 June 2017, considers substantial developments in national insolvency laws.

more
newsletter

23 June 2017

romania

G.Bădescu C.Manea

Significant Amendments to the Romanian Competition Rules - What's New?

The newly adopted Government Emergency Ordinance No. 39/2017 (the "Ordinance") introduces significant changes to Romanian competition rules. 

more
newsletter

22 June 2017

Serbia

Serbia: Competition authority receives honourable mention in Competition Advocacy Contest

The Commission for the Protection of Competition was the 2017 recipient of an honourable mention at the 2016-2017 Competition Advocacy Contest: Innovative Advocacy Strategies to Address Market Challenges, launched by the International Competition Network (ICN) and the World Bank Group. The commission is one of more than 140 ICN members.

The article which brought the commission this recognition deals with implementing competition advocacy in government policymaking. Specifically, the commission's activities were aimed at amending statutory provisions that favoured public enterprises and foreclosed access to other categories of undertaking on the utilities market.

This article was first edited and first published on www.internationallawoffice.com

more
newsletter

EU: Members of the European Parliament Call for Only Limited Harmonisation of Covered Bonds Markets

On 21 June 2017, members of the European Parliament (MEPs) called for limited harmonisation and a common definition of covered bonds in the European Union.

As part of their action plan for a Capital Markets Union (CMU), the Commission had proposed an EU framework for a more integrated covered bond market in order to reduce funding costs for banks issuing covered bonds.

With an outstanding volume of EUR 2 trillion in 2015, the covered bond market in the EU is substantial, but currently characterised by a highly inhomogeneous legal framework consisting of separate national rules. Covered bonds are financing around 20 % of all mortgages in the EU.

more
newsletter

20 June 2017

austria

M.Lindtner

The Austrian Law on the Responsibility of Associations: New tendency to prosecution authorities to target companies as first shot

The Austrian Law on the Responsibility of Associations (Verbandsverantwortlichkeitsgesetz, "VbVG") came into effect in 2006, stipulating that a company can be held criminally liable for certain criminal acts committed by its employees and decision-makers. According to new tendencies of prosecution authorities, the practical scope of the VbVG could expand in the future.

more
newsletter

19 June 2017

Slovenia

Non-Financial Reporting in Slovenia (ZGD-1J)

Slovenia recently adopted a number of amendments to the Commercial Companies Act. Besides modifying the existing cross-border mergers legislation and introducing new regulations for the use of the word "Slovenia" in company names, the amendments oblige public-interest companies to provide certain non-financial (corporate governance and other) statements in their annual reports.

more
newsletter

14 June 2017

austria

U.Rath

The EU Capital Markets Union - Mid-term Review of the Capital Markets Union Action Plan

In September 2015 the European Commission ("Commission") adopted an action plan on building a capital markets union (the "CMU") (the "CMU Action Plan"). 

more
newsletter

12 June 2017

romania

O.Constantinescu

Romania Suspends Unclear Food Waste Law

A new law meant to fight food waste in Romania came into force in late May but is now inapplicable, as its provisions are unclear and application norms have yet to be published.

more
newsletter

09 June 2017

poland

P.Kapica

New Rules for Issuing Pharmacy Permits in Poland

On 15 May 2017 the President of Poland executed the Act of 7 April 2017 amending the Pharmaceutical Law (the "Amending Act"), which changes the current regulations of the Act of 6 September 2001 Pharmaceutical Law (Journal of Laws of 2016, items 2142 and 2003) regarding the issuance of permits to operate public pharmacies.

more
newsletter

New Developments in Czech Insolvency Law

An extensive amendment to Act No. 182/2006 Coll., on Insolvency (the "Insolvency Act") will come into effect on 1 July 2017 (the "Amendment").

more
newsletter

05 June 2017

austria

T.Kulnigg

Austria: Participation rights as alternative investment and equity financing instruments

The typical way to invest in an Austrian company (eg, a limited liability company (LLC) or joint stock company) is by way of a capital increase. Alternatively, the investor can acquire existing shares from shareholders and provide capital contributions to the company.(1)

more
newsletter

31 May 2017

poland

P.Kułak

Private Enforcement Act Adopted by the Polish Parliament

On 21 April 2017, the lower house of the Polish Parliament ("Sejm") adopted the Act on Private Enforcement of Competition Law (the "Act"), which transposes Directive 2014/104/EU of the European Parliament and of the Council of 26 November 2014 (the so-called "Damages Directive") into Polish law. 

more
newsletter

30 May 2017

austria

C.Jirak

Climate impact: game changer for third runway at Vienna Airport

In February 2017 the Federal Administrative Court hindered the plans for a third runway to be built at Vienna Airport, explaining that the positive aspects of the project could not justify the extra carbon dioxide (CO2) pollution. The decision was reached despite the court conceding to the fact that air traffic will increase in the future and thus a third runway is necessary. This may be the first time that any court worldwide has rejected a project due to climate protection.

more
newsletter

Austria: Simplified procedure for foundation of standard LLCs

The Austrian Parliament recently passed an amendment to the law on limited liability companies (LLCs) aimed at simplifying the foundation of a special kind of LLC. The purpose of the changes – and the simplifications associated with them ­– have been hotly debated.

more
newsletter

Slovakia: Disclose Your Beneficial Owner - or Forget about Doing Business with the State

more
newsletter

18 May 2017

austria

U.Rath

ECB Publishes Practical Fit and Proper Assessments Guide for Board Members of Credit Institutions

On 15 May 2017, the European Central Bank ("ECB") published a guide on fit and proper assessments (the "Fit and Proper Guide"), which reflects the result of a public consolidation launched by the ECB on 16 November 2016.

more
newsletter

17 May 2017

Montenegro

Call Recording by Customer Services under Montenegrin Law

As customer service call recording concerns personal data protection, under what conditions is it allowed in Montenegro?

more
newsletter

Das Datenschutz-Anpassungsgesetz 2018 ist in Begutachtung

more
newsletter

Austria: Draft Data Protection Amendment Act 2018 in Appraisal

more
newsletter

12 May 2017

romania

M.Cojocaru

Romania: EUR 100 Million State Aid for the Development of Niche Renewable Sources

On 14 April 2017, Government Decision No. 216/2017 approving a state aid scheme for investments promoting energy production from less exploited renewable energy resources, namely biomass, biogas and geothermal energy (the "Decision"), was published in the Romanian Official Gazette.

more
newsletter

European Commission Proposes EMIR Reform that will Minimise the Clearing Obligation for NFC and Certain FC

On 4 May 2017, the European Commission published its proposal for an amendment of the European Market Infrastructure Regulation (EMIR). The Commission calls the proposed amendment a good example of "better regulation in practice" which is "essential to the creation of the Capital Markets Union (CMU)".

more
newsletter

Focus on Czech Republic, Slovenia and Bulgaria: Competition and antitrust in the digital age

In this Legal Insights, our Bulgarian, Czech and Slovenian offices look at competition and antitrust in the digital age, emphasising that competition authorities need to adapt to meet the challenges of the rapidly changing digital market.

more
newsletter

04 May 2017

austria

M.Stimakovits

Rome Wasn’t Built in a Day: Progress Report on the Creation of a UNCITRAL Convention on Enforcement of Conciliated Settlement Agreements

Over the past few decades, alternative dispute resolution (“ADR”) has become the preferred method of conflict management in the commercial world. 

more
newsletter

27 April 2017

hungary

G.Szalóki A.Bognár

Hungary: New Arbitration Legislation?

The Ministry of Justice has circulated its initiative for improving the legal environment with the aim of increasing Hungary's competitiveness by amending certain regulations and institutions. Among other things, the initiative concerns cross-border mergers and operation of trustees, and generally aims to lighten administrative burdens. Most notably, if adopted in its current form, it will reform the Hungarian arbitration regulation.

more
newsletter

25 April 2017

romania

S.Chirică

Romania: Tenant's Insolvency in Lease Agreements

From an economic perspective, especially in the current business environment, contractual freedom is the best legal method to satisfy the legitimate interests of individuals and to ensure the general benefit and, consequently, social progress.

more
newsletter

24 April 2017

moldova

A.Guzun

Moldova Eases Immigration Rules for EU Professionals

On 10 March 2017 the Parliament of the Republic of Moldova passed Act No. 23/2017 partly transposing a number of EU instruments and thus simplifying immigration rules.

more
newsletter

24 April 2017

austria

T.Kulnigg

"Start-Ups, die vorausdenken, sind attraktiver für Investoren"

Das Start-Up Ökosystem in Österreich wächst: A1 hat vor kurzem gemeinsam mit anderen Investoren 1,2 Millionen Euro in das Start-Up Parkbob investiert. Was macht das Investment in Start-Ups so attraktiv?

more
newsletter

Significant amendments to Austrian Competition Law - Part III (Damages Directive)

more
newsletter

12 April 2017

austria

J.Stalzer

Austria: Imminent implementation of public procurement directives

more
newsletter

Significant amendments to Austrian Competition Law - Part II (Merger Control)

On 6 April 2017 the Austrian Parliament adopted significant amendments to the Austrian merger control system, introducing a transaction value test that extends the reach of Austrian merger control.

more
newsletter

07 April 2017

Turkey

New Incentives for Foreigners Investing in Turkish Real Estate

In the wake of the failed coup attempt in Turkey on 15 July, and despite rising global security concerns due to a wave of terror attacks in 2016, the Turkish real estate market, especially the housing sector, is proving resilient. The Turkish market remains one of the best performing in the world, with home prices doubling in five years and rising by 12.22 % in 2016.

Turkey continues to work to boost the housing sector. Recently, the parliament and the government passed a number of new laws foreseeing new incentives to the market mainly aimed at creating more investment opportunities for foreigners. Among these incentives are stamp duty adjustments in respect of various types of agreements commonly used by land owners, developers and buyers; reduced land registry fees and VAT exemptions for foreigners who purchase real estate in Turkey.

Such incentives coupled with the hard drop in the value of the Turkish lira might offer the perfect time for foreign investors to benefit from such an environment.

more
newsletter

Österreich: Etwas weniger Gebühren, etwas mehr Liberalisierung – die Gewerberechtsnovelle 2017

Nach einem Jahr intensiver politische Diskussion beschloss das Parlament Ende Juni eine Reihe von Änderungen zur Gewerbeordnung 1994 ("GewO"). Obwohl die Reform deutlich hinter die ursprünglichen Ankündigungen der nunmehr scheidenden Regierung im Hinblick auf eine Liberalisierung des Marktzugangs und des Abbaus von Bürokratie von letztem Juli zurückbleibt, bringt die Novelle dennoch eine Reihe wesentlicher Änderungen für unternehmerische Betätigung in Österreich.

more
newsletter

Significant amendments to Austrian Competition Law – Part I (Overview)

more
newsletter

Protecting your trade secrets in the EU

A new EU Directive aimed at protecting know-how and business information can strengthen the position of your start-up if you take the necessary precautionary measures.

more
newsletter

04 April 2017

slovenia

U.Picelj E.Škufca

Slovenia Adopts New State Aid Legislation

Slovenia adopted a new law regulating rescue and restructuring state aid, which entered into force in mid-February. When notified to the European Commission as a state aid scheme, it will allow the Republic of Slovenia to support companies and cooperatives in difficulty without having to notify support mechanisms in accordance with the provisions of the law as an individual aid measure to the European Commission.

more
newsletter

03 April 2017

bulgaria

G.Petkova E.Todorova

Bulgaria: Commission for Protection of Competition Takes a Negative View of COOL Bill

In October 2016, a group of MPs submitted a short draft amendment of the Bulgarian Foodstuffs Act to Parliament. The draft follows the Romanian example of promoting local food by requiring food retailers to stock their shelves with certain percentages of domestic products.

more
newsletter

30 March 2017

austria

S.Kühteubl

ECJ Allows Prohibition of Headscarves at Workplace

Employers may prohibit their employees from wearing Islamic headscarves and other religious or political symbols, subject to certain conditions. 

more
newsletter

28 March 2017

poland

P.Kułak

Major Step Taken Towards Implementation of the Damages Directive in Poland

On 1 March 2017, the Polish Government adopted a draft of the Act on Private Enforcement of Competition Law (the "Act"), which transposes Directive 2014/104/EU of the European Parliament and the Council of 26 November 2014, on Certain Rules Governing Actions for Damages under National Law for Infringements of Competition Law Provisions of Member States and of the European Union (the "Damages Directive") into the Polish legal system.  

more
newsletter

24 March 2017

bulgaria

G.Petkova

Bulgaria: Competition and antitrust in the digital age

What impact has the rapidly changing digital market had on competition in your jurisdiction, and how have legislators and competition authorities responded?

more
newsletter

23 March 2017

poland

P.Kapica

New Polish Food Law Seeks to Counteract the Unfair Use of Contractual Advantage

more
newsletter

22 March 2017

moldova

V.Iurkovski

Individual Tax Rulings Now Possible in Moldova – And They're Binding!

What previously was impossible and not foreseen by local legislation is now possible. Starting 1 January 2017, the Tax Code of Moldova (the "Tax Code") was amended by Law 281/2016 to include a separate norm (Art. 136¹) on individual tax rulings ("ITR") for the benefit of entrepreneurs. Within the limits of its scope and in respect of a concrete beneficiary, an issued ITR is binding on the State Tax Service (the "STS"). The Government and the Ministry of Finance are expected to approve the secondary legislation to regulate the details of the procedure.

more
newsletter

20 March 2017

bulgaria

B.Rajal S.Tsekova

Bulgaria: Opening the gas market for foreign traders!

Most recently, the Bulgarian Energy Regulator has taken significant steps towards the full liberalisation of the natural gas market: In December 2016, the Bulgarian Energy Regulator adopted legislative amendments to the Rules for Trading of Natural Gas (Правила за търговия с природен газ, "Trading Rules") and the Rules for Access to the Gas Transmission and/or Gas Distribution Networks and the Natural Gas Storage Facilities (Правила за предоставяне на достъп до газопреносните и/или газоразпределителните мрежи и за достъп до съоръженията за съхранение на природен газ, "Access Rules"). Moreover, it adopted new Rules for Balancing of the Natural Gas Market (Правила за балансиране на пазара за природен газ, "Balancing Rules").

more
newsletter

15 March 2017

hungary

K.Hetényi

Hungary: Registration Fees for Company Establishment Abolished

In an aim to simplify state administration and support economic growth, the Hungarian Parliament adopted a new law abolishing the registration fee and the publication cost for incorporating limited liability companies ("LLC") (korlátolt felelősségű társaság), limited partnerships (betéti társaság), general partnerships (közkereseti társaság), and sole entrepreneurships (egyéni cég). The new law becomes effective on 16 March 2017.

more
newsletter

14 March 2017

austria

C.Rainer T.Kulnigg

Boost your Start-Up with an Advisory Board - Points to consider

more
newsletter

When Arbitration Meets Insolvency in Montenegro - Can They Coexist?

Even at first blush, it is apparent that arbitration and insolvency make strange bedfellows.

The reason they make such an odd couple is the different underlying policies, objectives, and purposes they stand for. The heart of arbitration lies at the privity of contract and the existence of party autonomy independent from the state. In contrast, insolvency reflects a centralized and to a certain extent state-managed procedure that holds all creditors equal, within a set system of ranking – a transparent and accountable process governed by mandatory substantive and procedural law provisions.

However, with insolvency on the rise, parties to arbitration agreements may find themselves increasingly often considering a claim against a counterparty who is insolvent or becomes insolvent during the dispute. This is no different in Montenegro.

When arbitration meets insolvency or insolvency meets arbitration in Montenegro, can they coexist? Does insolvency affect the arbitrability of claims in Montenegro? Is there exclusive jurisdiction of Montenegrin courts for all disputes against or with an insolvent party? 

more
newsletter

10 March 2017

hungary

G.Szalóki

Hungary: Increase of Minimum Sale Price May Affect Retail NPL Transactions?

On 7 March 2017, the Hungarian parliament adopted a law that increases the minimum sale price of a residential property in the enforcement procedure from the current 70% of its market value to 100% (market value to be understood as the price set by the appraisal of the bailiff), provided that (i) the claim to be enforced stems from a consumer contract; (ii) the real property is the debtor's only real property; and (iii) the debtor resided in that real property for at least six months prior to the initiation of the enforcement procedure. 

more
newsletter

Legislative vacuum filled: Czech Republic introduces comprehensive new national legislation on e-cigarettes

New legislation regulating e-cigarettes in the Czech Republic entered into force on 1 March 2017, introducing specific safety and quality requirements on e-cigarettes in the country for the first time.

more
newsletter

06 March 2017

hungary

G.Szalóki

New regulation on unit-linked life insurance in Hungary

Policyholders of unit-linked life insurance products pay an agreed sum for the unit-linked insurance to the insurance company, as a regular premium, or in one lump sum. These payments cover the life insurance component as well as the investment, administrative costs, contracting fee and the commissions. The "total cost charged" ("TCC") is an indicator – calculated in line with the rules of Hungarian insurance regulations – showing all costs charged on life insurance policies having a savings element, reflected as a percentage value. The regulation of the TCC in Hungary has been amended effective 1 January 2017.

more
newsletter

24 February 2017

croatia

P.Šantić* B.Rajal

Amendments to the Gas Market Act - a further step towards (fully) opening up the Croatian gas market on 1 April 2017

On 17 February 2017, the Croatian Parliament enacted the eagerly awaited amendments to the Gas Market Act that are intended primarily to remove the current gas import and export restrictions – which are contrary to EU internal energy market rules - and to allow further opening of the Croatian gas market.

more
newsletter

23 February 2017

bulgaria

E.Todorova

Bulgaria: Amendment to the pricing and reimbursements process for pharmaceuticals

The amendment aims at alleviating the existing regime for pricing of pharmaceuticals for home treatment of chronic, genetic and/or rare diseases and paid by the National Health Insurance Fund (NHIF). 

more
newsletter

22 February 2017

austria

U.Rath

The EU Capital Markets Union - Recent developments on Venture Capital

On 16 December 2016, the Council of the European Union announced agreement on its negotiating stance in relation to the proposed regulation amending the European Venture Capital Funds ("EuVECA") Regulation (Regulation (EU) No 345/2013) and the European Social Entrepreneurship Funds ("EuSEF") Regulation (Regulation (EU) No 346/2013), which is now at the European Parliament's ECON committee, scheduled to be voted on, on 22 March 2017. 

more
newsletter

21 February 2017

poland

B.Jóźwik

Important changes to Polish labour law

more
newsletter

20 February 2017

Austria Vienna Austria Linz

Hospital Consolidation - a Driver of M&A Activity - Austria

2016 has seen a surprising level of deal activity in the (private) Austrian hospital sector: in Vienna, PremiQaMed, a 100 % subsidiary of UNIQA insurance group, acquired a 75 % stake in the renowned private hospital "Goldenes Kreuz", and the hospitals Hartmannspital and St. Elisabeth announced a merger to form the new "Franziskus" hospital. In Linz (Upper Austria), the "Elisabethinen" and the hospital operated by the Sisters of Charity agreed to combine to form a regional player with approx. 1,200 beds.

Most recently, public (and political) discussion on a potential spin-off (and privatization?) of the Vienna Association of Hospitals (Wiener Krankenanstaltenverbund) has picked up.

The drivers behind this consolidation are expected benefits from synergies (eg by eliminating multiple administration layers, shared procurement, etc.), increased specialisation (resulting in higher case numbers and thus better quality of services, efficiency gains and higher bed occupancy) and, in individual instances and where possible under regulatory rules, a focus on commercially attractive practice areas.

more
newsletter

17 February 2017

czech republic

R.Bicek

Czech Republic: Compliance Programme Saves First Company from Criminal Prosecution

The Municipal Court in Prague has dropped the criminal case against a company suspected of illegal conduct in public procurement. The reason: the company implemented an ethics code.

more
newsletter

Albania: Finally on track for a comprehensive support scheme for renewable energy?

more
newsletter

14 February 2017

austria

B.Rajal

Austria: Government bill for amending the promotion scheme for green electricity. Hope for new investments, but not yet an ideal solution.

As a result of the strong decrease in electricity market pricing, green electricity plant projects cannot find a place in special promotion quotas. 

more
newsletter

13 February 2017

austria

L.Kopecký

A Case for Paperless Arbitration

Having disposed of yet another forest worth of pristine hearing bundles, I wonder: when will arbitration finally go paperless?

more
newsletter

08 February 2017

czech republic

No Smoking: After a long battle in Parliament, the Czech Republic finally adopts smoking ban

One last hurdle – the signature of Czech President Miloš Zeman –before the so called Anti-Smoking Bill enters into force on 31 May 2017.

On 19 January 2017, the Senate of the Parliament of the Czech Republic approved the government bill of the Act on Protection from the Harmful Effects of Addictive Substances (the "Bill"), which is due to enter into force on 31 May 2017, subject to signature by the President.

The Bill follows lengthy political debates and battles pitting the interests of various stakeholders (politicians, lobbyists, corporations and health-protection institutions) against each other, which for many years have hindered any reasonable progress at the legislative level. As a result, the general public has become frustrated and sceptical about the real chances of the Czech Republic ever becoming smoke-free. Although the President has yet to sign the Bill, he has expressed support for it (despite himself being an avid smoker), and it is already perceived by many as a pleasant surprise and a historical victory.

more
newsletter

06 February 2017

hungary

C.Haid

Hungary: Fostering a cashless society - sectoral inquiry into the bank card acceptance market

The Hungarian Competition Authority (the "HCA") has recently decided to jump-start 2017 by initiating a sectoral inquiry into the market for acceptance of bank card payments. Market players have already seen and experienced that such developments have the potential to substantially affect the market. The findings of the authority may induce significant – and possibly unplanned – changes in market practice and the behaviour of competitors.

more
newsletter

05 February 2017

austria

B.Rajal

Österreich: Endlich! "Kleine" Ökostromgesetznovelle in Begutachtung

Der Ausbau von erneuerbarer Energie in Österreich ist in den letzten Jahren ins Stocken geraten. Insbesondere der starke Marktpreisverfall führte dazu, dass weniger Ökostromanlagenprojekte in den einzelnen Förderkontingenten Platz finden können. 

more
newsletter

03 February 2017

czech republic

C.Bock

Czech Republic: Anti-competitive agreements in telecoms sector

Following a protracted dispute, on December 22 2016 the Office for the Protection of Competition imposed fines on Czech mobile operators Vodafone Czech Republic as and O2 Czech Republic as totalling Kr99 million (approximately €3.6 million). 

more
newsletter

30 January 2017

hungary

C.Haid

Hungary: Reduced red tape in merger control proceedings

Following the latest amendments to the Competition Act, on January 13 2017 the Hungarian Competition Authority (HCA) published an updated filing form and new guidelines on merger control proceedings The HCA also held a consultation with the Hungarian Association of Competition Law (HACL) on 25 January 2017 to clarify some questions regarding the new regime.

more
newsletter

30 January 2017

austria

T.Waidmann

Facilitation or Liability Trap for Foreign Employers? - The Revised Austrian Law against Wage and Social Dumping

On 1 January 2017, the revised Austrian Law against Wage and Social Dumping ("Lohn- und Sozialdumping Bekämpfungsgesetz" or "Revised LSD-BG") came into force. The Revised LSD-BG applies to matters arising after 31 December 2016.

more
newsletter

25 January 2017

serbia

Amendments to the Criminal Code - criminalization of restrictive agreements in Serbia. Who should be concerned?

The recent amendments to the Criminal Code, which will take effect on 1 March 2018, introduce the criminal offence of conclusion of restrictive agreement. The new Article 229 of the Criminal Code provides as follows:

  1. Any person concluding a restrictive agreement not exempted under the Law on the Protection of Competition (the "Law") which fixes prices, limits production or sales, or divides markets, shall be sanctioned to a prison sentence of between six months and five years and will be fined;

  2. The perpetrator may be released from sanction if he/she satisfies the criteria for immunity from fines.

    These provisions have multiple consequences:
     

    1. The person concluding a restrictive agreement may be sentenced to a prison term and fined;

    2. The definition of the crime covers all types of restrictive agreements and not only cartels as is usual in other jurisdictions;

    3. Criminal liability is abolished for abuse of a monopoly (dominant position);

    4. Those benefitting from a leniency program may be released from criminal sanction, but this applies only to those where full immunity from fines is applicable. 
more
newsletter

24 January 2017

austria

M.Simsa

Freeze! Securing a debtor's assets in a foreign country can be a difficult and lengthy exercise - a new EU Regulation will change this.

Suppose you were a German bank lending to a Spanish debtor under a loan agreement governed by German law. Once your Spanish debtor stops paying, the bank would have to obtain a German legal judgment and would then have to enforce it in Spain. 

more
newsletter

19 January 2017

austria

B.Schlatter

Austria: Court rules on rights in environmental impact assessment

If there are two or more conflicting water use projects (eg, hydroelectric power stations), the Water Act provides for a special conflict procedure. A pending conflict procedure suspends decisions in all underlying approval procedures. As a result of the conflict procedure, the project which serves public interests best will take priority over the inferior project.

more
newsletter

2016 brought some substantial changes in Austria's Criminal Law provisions - A Review

In 2016, Austrian Criminal Law experienced some substantive legal developments in both, procedural and material aspects. The following overview reflects the most relevant developments in Austrian Criminal Law in 2016.

more
newsletter

27 May 2002

romania

T.Artenie

Romania: Mysterious are the ways of VAT

You guessed right, this is not an article about COVID-19, but it is an article about VAT (not sure if this is actually a good thing).

more
newsletter

01 January 0001

fasdfasdf

more
newsletter

01 January 0001

asdfasdfasd

more