Wolf Theiss

Client Alerts

Newssquare Slovenian courts in the times of Coronavirus: Have creditors been left with nothing?

Creditors have noted an increased deterioration of their contractual partners' payment discipline caused by governmental measures aimed at curbing the COVID-19 virus. Courts do not offer effective legal protection because the Act on extraordinary measures for courts and administrative authorities has suspended the deadlines, and the courts have stopped the service of official documents. An amendment to the Act entered into force on 1 May 2020 and allows judicial proceedings to continue. In order to learn more, please download the file below.

Newssquare Slovenia – National Assembly revises the law on COVID-19-related reimbursements to employers for a second time

On 1 May 2020, a law revising and amending the second set of intervention measures (ZIUZEOP) (ZIUZEOP-A) was enacted. Once again, the legislator decided to revise certain rules retroactively, with effect as of 13 March 2020. Due to unclear or ambiguous transitory provisions, it remains unclear what certain rules will mean for employers who already filed applications for reimbursement of salary compensations paid out to employees – and even for employers who have already received favourable decisions from the Employment Service of Slovenia. In order to learn more, please download the file below.

 

Newssquare Wirtschaftsrechtliche Blätter - Die Emission von Wertrechten auf Basis verteilter elektronischer Register – Distributed Ledger Technology

Die Digitalisierung des Kapitalmarkts am Beispiel eines Modells zur Emission von Wertrechten in Österreich. Die rechtlichen und technischen Rahmenbedingungen für die Umsetzung einer digitalisierten Emission - durch den Einsatz von innovativen Technologien, wie etwa der Blockchain-Technologie und von DLT-Systemen.

Newssquare POLAND: ALLEVIATION OF RESTRICTIONS ON BUSINESS ACTIVITIES AND SOCIAL LIFE

Poland – The Prime Minister held a press conference and announced further amendments to the Regulation of the Council of Ministers on introduction of specific limitations connected with the state of epidemy within the territory of the Republic of Poland. These amendments include alleviation of some restrictions regarding business activity, places of art and culture, kindergartens and nurseries. The most important information relates to the re-opening of shopping centers starting from 4 May 2020. In order to learn more, please download the file below.

Newssquare LESSONS LEARNED: ACQUIRING PROTECTIVE FACE MASKS IN THE COURSE OF A PANDEMIC

In the midst of the current Covid-19 crisis, there is an unprecedented worldwide demand for protective face masks. Despite various efforts by the EU and the national legislator in order to ensure swift availability of PPE and medical devices, there are currently considerable hurdles obstructing the acquisition of masks on the world market. Apart from the obvious difficulty in relation to shipment, meeting the required quality standards of masks proves to be particularly challenging. Having assisted a public body in acquiring protective face masks on the world market, we summarize in the file below the most important lessons learned.

 

Newssquare LATEST TAX MEASURES TO EASE CASH-FLOW PRESSURE ON BUSINESSES

The deadline for declaring and paying certain taxes to be assessed on the basis of the net sales revenue or the profits of businesses is postponed until 30 September. In addition, from now on businesses may request tax reductions and so-called automatic payment facilities will be more widely available. As a further preferential tax measure, the rate of the social security tax will be reduced by 2% effective from 1 July. Moreover, businesses involved in the transportation of goods will be relieved from the obligation of providing risk guarantee in connection with requesting EKAER numbers. In order to learn more, please download the file below (available in English and Hungarian).

Newssquare Czech Republic Aims to Strengthen the Control of Foreign Investments

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 been made, the Ministry has the power to prohibit continuation of the investment. Investments are currently only partially controlled in specific business sectors, such as arms and ammunition manufacturing, banking or energy. In order to learn more, please download the file below.

Newssquare COVID-19 Logbook: Romanian Legal Updates – Day 40 – 24th April: Banking & Finance

Following the ESMA statements issued earlier this month on the measures to be taken during the COVID-19 pandemic, including a pushing back of reporting deadlines, the FSA has adopted Regulation no. 8/2020 on exceptional measures applicable to regulated entities, which aims at enforcing certain measures in the financial investments and financial instruments sector during the course of the virus outbreak. In order to learn more, please download the file below.

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