Client Alerts

Bulgaria has amended its rules related to the clearing and settlement of card-based payments that are linked to the country. As of 15 August 2020, card-based payments that match certain criteria must be cleared and settled through an approved operator. Our lawyers examine the implications as well as how this development intersects with the European […]...

On 1 January 2020, important legal provisions aimed at reducing payment delays came into force in Poland. Our lawyers have already commented on the key changes in a previous newsletter, and this time would like to take a closer look at a very timely question business owners ask themselves in the context of new obligations […]...

In 2017, a constitutional complaint was lodged with the German Federal Constitutional Court (BVerfG) against the law approving the Agreement on a Unified Patent Court. This law was intended to create the conditions for ratification of the Agreement on a Unified Patent Court (UPCA) by Germany. Since without ratification by Germany the UPC will not […]...

North Macedonia’s new Law on Personal Data Protection (LPDP) represents an important step for the country’s modernization of its data privacy framework and alignment with European law. The LPDP creates significant new obligations for data controllers and processors within North Macedonia and many businesses outside of the country that have ties to it. To learn […]...

Serbia has created a new Trademark Law in order to implement a more efficient trademark protection system and to align the national legal framework with EU Directives and other developments in Serbian law. The most significant change to the law is the introduction of the long-awaited trademark opposition system, which permits the holder of a […]...

CAN DISTRESSED ASSETS BE DISPOSED OF MORE QUICKLY DURING THE UPCOMING ECONOMIC DOWNTURN? On 24 March 2020, amendments to the Polish bankruptcy law came into force, including the amendments regarding pre-packaged sales. The pre-pack sale procedure was highly praised by restructuring practitioners a few years ago, but what are experts saying now? Lech Giliciński and […]...

On 21 May 2020, the President of Ukraine signed the Law of Ukraine “On Amendments to the Tax Code of Ukraine on Improvement of Tax Administration, Elimination of Technical and Logical Inconsistencies in Tax Legislation” (the “Law”), which was passed by the Parliament on 16 January 2020. To learn more, please open the attached file....

On 6 April 2020, the Czech Government approved a draft law establishing rules and procedures for the screening of foreign investments in the Czech Republic. The draft law empowers the Ministry of Industry and Trade to prohibit the investment or set specific conditions to be fulfilled by the investors. Even if the investment has already […]...

In the increasingly likely event of a no-deal Brexit, many questions remain for UK insurance undertakings in Bulgaria. Apart from regulatory treatment aspects, a no-deal Brexit raises many other legal questions such as the application of choice of law and jurisdiction rules, data migration & protection rules, competition rules and other legal issues which are […]...

On 19 February 2020, the Polish President signed an act that amends the Code of Civil Procedure along with other existing acts that impact the adjudication of IP cases, among other areas of law (“the Act”). The Act will enter into force on 1 July 2020, and the courts will be operational from this date. […]...

A team of M&A and regulatory Partners at Wolf Theiss (Sarah Wared, Hartwig Kienast, Horst Ebhardt, Florian Kusznier, Christian Mikosch and Kurt Retter) has analysed the roller-coaster M&A environment in Austria over the last 12 months for Global Legal Insights - Mergers & Acquisitions 2020. The summary sheds light on the main M&A trends in 2019 and how Covid-19 has impacted deal-making, including a discussion of the new risk assessment approaches both at the outset of transactions and in dealing with rising pre-closing volatility. It also contains a preview on the new Foreign Direct Investment Control Act which will come into force in July 2020 and which will significantly expand the scope of transactions that require FDI clearance going forward....

Romania has amended the Companies Law no. 31/1990, and important changes enter into force on 6 July 2020, which include the following: Natural or legal entities can now hold participations as a sole shareholder in multiple Romanian limited liability companies Limited liability companies can be held by other limited liability companies which are solely owned […]...