Client Alerts
The European account preservation order at a glance – 7 questions & 7 answers
The EU Regulation No 655/2014 of 15 May 2014 established a European Account Preservation Order (“EAPO”). The Regulation became applicable as of 18 January 2017 within the EU except for the United Kingdom and Denmark ....
Claims settlement order in bankruptcy proceedings declared unconstitutional
The Constitutional Court of FBiH has found that the current order of settlement of workers' claims in bankruptcy proceedings is unconstitutional....
Improving the position of secured creditors under registered pledges in Bulgaria
Almost two decades after being adopted following the model of the World Bank and UNCITRAL for non-possessory registered pledges, the Special Pledges Act (the "Act") was substantially amended at the end of 2016. Most of the amendments take immediate effect while those concerning the digitalization of the Central Register of Special Pledges (the "Register") will come into force on 1 September 2018....
The dismissal decision can be validly communicated by e-mail
The High Court of Justice of Romania established in Decision no.34/2016, published in the Official Monitor no.18 dated 9 January 2017, that a dismissal decision which an employer communicates by e-mail is validly communicated....
Waste to energy helps to secure Europe’s energy future
Advising in utilities projects that convert waste to energy is just one way that Wolf Theiss helps clients innovate and achieve added value. In advance of his guest presentation in February at the Energy from Waste (EfW) Conference 2017 at the Royal College of Physicians in London, Partner Bryan W. Jardine of Wolf Theiss Bucharest examines the current regulatory and incentive regimes that promote EfW projects in CEE/SEE and takes a look at the wide variation between the different countries....
January 2017, new rules in financial business activities
The law on financial business activities in FBiH (law) aims at protecting and improving the position of small and medium-sized enterprises acting as creditors in financial transactions....
Der Beginn der Verjährungsfrist nach § 1489 ABGB
Binnen weniger Monate beschäftigte sich der OGH im Jahr 2017 mit der Frage des Zeitpunkts des Beginns der Verjährungsfrist für Schadenersatzforderungen. Grundsätzlich gilt, dass eine Schadenersatzforderung drei Jahre nach Kenntnis des Schadens und des Schädigers verjährt, die allgemeine Verjährungsfrist beträgt dreißig Jahre....
Important changes into Romanian competition law – An overview
On 8 June 2017, Emergency Government Ordinance 39/2017 ("EGO 39") entered into force and brought a number of important changes to the Romanian Competition law. The EGO transposes the EU Damages Directive (2014/104/EU) into Romanian law and introduces a number of other changes into Romanian competition law, including inter alia: (i) a specific obligation incumbent upon modern retailers to provide, (upon request), information to the Competition Council regarding their resale prices; (ii) additional powers of the Romanian Competition Council ('RCC') during dawn raids....
Update on mandatory electronic mailboxes for legal entities
As of 1 August 2016, the Slovak Republic instituted the mandatory use of electronic mailboxes (accounts) (hereinafter the "emails") for legal entities. The obligation was introduced by Act No. 305/2013 Coll., on e-Government as amended (hereinafter the "Act on e-Government"), whereby the respective state authority was obliged to activate the emails by 1 August 2016 without any further conditions....
The horizontal merger guidelines introduced by the Ukrainian competition authority
Ukrainian competition law and practice continues to improve. This also includes the actual practice of law application, interpretation and clarification by the Ukrainian competition regulator – the Antimonopoly Committee of Ukraine (the "AMC")....
ImmoEst und Hauptwohnsitzbefreiung – Was ist neu?
Die Hauptwohnsitzbefreiung bei Immobilienverkäufen wurde von der Finanz unter Berufung auf die Einkommensteuerrichtlinie nur bis zu einer Grundstücksfläche von 1.000 m² gewährt. Darüber hinausgehender Grundbesitz unterlag nach Ansicht der Finanz der Immobilienertragsbesteuerung....
Reminder regarding deadline in Romania for risk analysis for physical security: July 1st, 2017
According to the Government Decision no. 301/2012 on the approval of the Methodological Norms for the application of Law no. 333/2003 regarding the safeguarding of objectives, assets, valuables and protection of individuals ("GD no. 301/2012"), certain entities that hold assets or other valuables regardless of the title are required to ensure proper security measures for those assets/valuables....