Wolf Theiss

Client Alerts

Newssquare Poland: New Rules for the Filing of Financial Statements for 2018

The Act amending the Polish Accounting Act and the National Court Register Act ("Act") has introduced changes that significantly affect the obligations of entrepreneurs, particularly with regard to the filing of financial statements. In this edition of Wolf Theiss' newsletter, we highlight the most important of these changes and provide you with a practical guide for implementing the new rules in your company.

Newssquare CJEU rules against Croatian Legislation on Retroactive Nullity of Loan Agreements

The Court of Justice of the European Union ("CJEU"), with its recent judgement, has set the course for the Croatian legislator attempting to intervene into existing contractual relationships. On 14 February 2019, the CJEU delivered a judgment concluding that a national law of an EU Member State cannot retroactively invalidate loan agreements that were deemed valid at the moment of execution. This is a rather expected outcome of recent controversial legislative intervention by the Croatian Parliament.

Newssquare Bulgaria: The president vetoes local law implementing the GDPR

After extensive public consultations and parliamentary procedures, on 24 January 2019 the law implementing Regulation (EU) 2016/679 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data and repealing Directive 95/46/EC ("GDPR") into the Bulgarian Personal Data Protection Act ("Implementing Law") was officially adopted by the Bulgarian Parliament. Shortly after, on 4 February 2019, the Bulgarian President vetoed the Implementing Law due to concerns regarding the regulated data processing for journalistic purposes and the purposes of academic, artistic or literary expression.

Newssquare Romania: Wolf Theiss contributes to the release of two new reports on GDPR for the CPC platform

Wolf Theiss together with other qualified legal professionals from more than 30 European countries, contributed to the release of two new reports on GDPR for the CPC network, the largest European information platform explaining data protection laws.

Newssquare Austrian GDPR-Tracker: Data Protection Authority on erasure by way of anonymization

Destruction or anonymization of personal data – an appropriate way to comply with the right to erasure?

The Austrian Data Protection Authority (DPA) has further consolidated its case law on the right to erasure.

Newssquare Bulgaria: Government to launch concession procedures for major Transport Infrastructure Projects

The Bulgarian Council of Ministers adopts an amitious action plan for State Concessions 2019-2020, providing the launch of tenders for major ports and airports.

Newssquare Ukraine: Cross-Border Financing Transactions under new Currency Control Regulations

With the effect from 7 February 2019, the Law of Ukraine "On Currency and Currency Operations" no. 2473-VІІІ, dated 21 June 2018 (the "Currency Law"), and regulations of the National Bank of Ukraine (the "NBU"), adopted to implement the Currency Law provisions, introduce a new currency control regime including new rules governing the financial arrangements of Ukrainian borrowers with foreign lenders.

Newssquare New Interpretative Judgment of the Bulgarian Supreme Court of Cassation on Insolvency Matters

On 03 December 2018, the Bulgarian Supreme Court of Cassation ("SCC") published an interpretative judgement under case No. 1/2017 (the "Judgment"), where the Court provides long awaited guidance concerning insolvency proceedings. The Judgment addresses nine questions which were inconsistently resolved by lower courts. Bulgaria has been widely criticized for its inefficient and unreliable insolvency proceedings, but in the last couple of years both the legislator and the judiciary try to overcome the existing difficulties.

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