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An uncertain future for the assets of non-re-registered Bulgarian companies
On 31 January 2015 the term for filing for the liquidation of companies that were not re-registered with the Bulgarian Commercial Register (CR) before 31 December 2011 expires. This deadline is important, first, for investors that hold shares in such companies that still have assets and, secondly, for the creditors of such companies....
ANRE order 78/2014
ANRE Order no. 78/2014 on the approval of the Regulation for the execution of bilateral power purchase agreements via extended tender, continuous negotiation and processing contracts entered into force on 1 January 2015. As implied by its name, the Regulation provides for three different transaction methods for electricity trading....
Bucharest: New electricity trade regulations in Romania
New electricity trade regulations were put into force. Market participants that were already registered with the centralized market for bilateral electricity sale-purchase agreements will have to sign new participation conventions. This deadline for carrying out these formalities is set until 27 February 2015....
Austrian act on recovery and resolution of banks entered into force
On 1 January 2015, the Austrian Act on the Recovery and Resolution of Banks entered into force. The BaSAG (Bundesgesetz über die Sanierung und Abwicklung von Banken - BaSAG) transposes the Bank Recovery and Resolution Directive (BRRD) into national law which provides relevant resolution authorities with common tools and powers to address banking crises pre-emptively to ensure financial stability....
Amendments to pension insurance act
New deadlines for submitting mandatory pension insurance applications to the Croatian Pension Insurance Institute The Pension Insurance Act (Official Gazette No. 157/13) was amended by an Ordinance of the Government of the Republic of Croatia (Official Gazette No. 151/14) effective 1 January 2015. The most significant change relates to the deadlines under which employers, as mandatory contribution payers, need to report the beginning of mandatory pension insurance for their employees to the Croatian Pension Insurance Institute (“HZMO”)....
CEE M&A and Private Equity Forum Warsaw
M&A interest in Central and Eastern Europe remains strong even in the face of full valuations and may lead to a record number of deals this year, experts from international law firm Wolf Theiss predicted at the CEE M&A and Private Equity Forum which took place in Warsaw on September 26th and 27th. Leading funds […]...
Der neue Handels-Kollektivvertrag
Ab 01. Dezember 2017 soll in Österreich der neue Handels-Kollektivvertrag in Kraft treten. Dieser umfasst eine neue Gehaltsordnung für rund 400.000 Angestellte im heimischen Einzel-, Groß- und KFZ-Handel sowie 80.000 Betrieben. Der neue Handels-KV verspricht unter anderem höhere, attraktivere Einstiegsgehälter sowie mehr Rechtssicherheit....
Schattenbanken
“Schattenbanken” spielen eine immer größere Rolle bei Finanzierungen in Österreich und der CEE/SEE Region. Unter den Begriff “Schattenbanken” fallen alle Institutionen, die Finanzierungen bereitstellen, aber nicht regulierte Banken sind. Zuletzt hat sich auch die Österreichische Nationalbank intensiver mit diesen Institutionen beschäftigt und deren Bedeutung im Finanzierungsgeschäft anerkannt. Schattenbanken können für Unternehmen bestehende Finanzierungslücken schließen und […]...
CYBER-KRIMINALITÄT UND DSGVO
Cyber-Kriminalität kann jeden treffen. Im Jahr 2016 stieg die Zahl der angezeigten Cyber-Delikte um 30% auf über 13.000. Überdurchschnittlich stark legten Anzeigen von Datenbeschädigungen (+ 358%) und Störungen der Funktionstätigkeit von Computersystemen (+ 72%) zu. Die ab Mai 2018 geltende EU Datenschutz-Grundverordnung (DSGVO) verpflichtet Unternehmen, bestimmte Datensicherheitsvorfälle an Aufsichtsbehörden und Betroffene zu melden, andernfalls drohen […]...
Kaj se je zgodilo z izvršnim direktorjem banke zaradi lova na internega žvižgača?
Sprejeti pravilnik o internem sistemu prijave kršitev in naročiti programsko opremo, ki omogoča oddajo anonimnih kršitev, je relativno enostavno. Ko družba prejme prijavo internega žvižgača, ki po vrhu vsega zadeva celo njeno najvišje vodstvo, pa se začnejo zadeve lahko precej zapletati. Odmeven primer Barclays banke, o katerem so poročali številni mednarodni mediji, kaže, da se "lov na čarovnice" ne splača. To pa se prepreči le z vzpostavitvijo ustreznega sistema prijav kršitev....
Energy Efficiency in Central, Eastern & Southeastern Europe
Wolf Theiss is pleased to publish the first edition (2017) of "The Wolf Theiss Guide to: Energy Efficiency in Central, Eastern & Southeastern Europe" (the "WTEE Guide")....
Recent developments around Agrokor
A notable event on the Croatian financial market this year has been the financial turmoil around Agrokor d.d., the largest privately owned company in Croatia and one of the leading retailers and agricultural companies in Southeast Europe with over 60,000 employees and 30+ subsidiaries. The material parts of Agrokor's business are located in Croatia, Slovenia, Serbia and Bosnia and Herzegovina....