Wolf Theiss

Client Alerts

Newssquare Poland: New Rules Aim To Protect SMEs From Late Payments From Larger Companies

In the second part of our analysis on the new rules in Poland for payment terms in commercial transactions, we look at provisions set out to protect SMEs. Until recently in Poland, large companies often used their strong market position to shift the financial burden of debt onto SMEs by neglecting to make payments in a timely fashion. The new rules seek to limit this, although the changes to the law designed to protect SMEs might be abused in practice. To learn more about how the new rules may affect your company, please download from below.

Newssquare Chambers Global Practice Guide – Private Equity (Austria) 2019

The Austrian Private Equity market continues to be seller-friendly and busy. Read about recent trends and developments in our contribution to "Chambers Global Practice Guide – Private Equity (Austria) 2019".

Newssquare Bulgarian Energy Law Amendments Introduce Domestic Natural Gas Exchange

In an important step towards further liberalization of its natural gas market, Bulgaria recently published important amendments to its Energy Act, introducing a new framework for a domestic natural gas exchange. The changes aim at enhancing the liquidity and liberalization of the natural gas market, with potentially important implications for businesses with interests in the industry. The Amending Act sets a short timeline for implementation - key rollout dates are planned for as soon as late 2019 and early 2020, and specific mechanisms for implementation are expected in forthcoming secondary legislation.

 

Important details can be found below.

Newssquare Neue Schwellenwerte ab 1.1.2020

Ab dem 1.1.2020 treten neue Schwellenwerte für Auftragsvergabeverfahren für die nächsten zwei Jahre (2020 und 2021) in Kraft. Die EU-Kommission hat im Oktober 2019 die neuen, deutlich gesunkenen Schwellenwerte angekündigt. Die Veröffentlichung erfolgt voraussichtlich im Dezember 2019.

Newssquare The Asset Tracing and Recovery Review: Austria

The Austrian chapter in the Asset Tracing and Recovery Review provides an overview of the most relevant provisions under Austrian law with respect to the recovery of assets deprived through fraudulent conduct. It focuses on the interaction of legal rights and remedies in civil and criminal proceedings regarding inter alia obtaining evidence, seizure of assets and damages claims. Furthermore, international aspects as conflict of laws, international judicial assistance, enforcement of judgments rendered abroad are covered.

Newssquare Poland: Missing A Payment Due Date In Commercial Transactions Will Become More Expensive

As of 1 January 2020, companies will face new regulations in Poland affecting payment terms in commercial transactions, particularly related to admissible time periods, interest rates for late payments, and compensation for debt recovery costs. Therefore, companies should review their contracts with counterparties and/or applicable general terms and conditions in order to comply with the new regulation.

 

For more information please see our Client Alert.

Newssquare The Shareholder Rights and Activism Review: Austria

Shareholder activism remains a prominent, and likely permanent, feature of the global corporate landscape. Recent activism-related trends indicate that the Austrian corporate landscape is shifting, and companies’ strategies for dealing with activism should therefore also evolve. Sarah Wared's contribution deals as a primer on these aspects of shareholder activism in Austria.

Newssquare EUR 660,000 fine in Poland for violation of personal data protection regulations

On 19 September 2019, the Polish Personal Data Protection Office ("UODO") announced the imposition highest fine to date for violation of personal data protection regulations.

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