Wolf Theiss

Client Alerts

Newssquare Bulgaria – Amendments To The Energy Act In Relation To REMIT To Be Reviewed By The Competition Protection Commission

On 07 February 2018, the Bulgarian Competition Protection Commission ("CPC") initiated Competition Advocacy proceedings in relation to the recently proposed amendments to the Bulgarian Energy Act ("EA"), aiming to increase controlling and enforcement powers of the Bulgarian Energy and Water Regulatory Commission ("EWRC") in respect of possible energy market manipulations under REMIT (Regulation 1227/2011 on wholesale energy market integrity and transparency).

Newssquare The New Law on Ukrainian Limited Liability Companies is adopted

On 6 February 2018 the Ukrainian Parliament adopted a long-awaited Law "On Limited Liability Companies and Additional Liability Companies" No. 4666 (the "Law"). The law will supersede the legislation currently regulating the most popular type of Ukrainian companies – limited liability companies ("LLC").

Newssquare Bulgaria: Recent Employment Law Changes Restrict M&A Transactions for Bad Employers

Protection of employees which was given strong support by Bulgarian Parliament led to difficulties in closing M&A transactions


Newssquare Bulgarian Competition Watchdog Launches a Sector Inquiry into Electricity Markets

On 22 January 2018 the Bulgarian Competition Protection Commission ("CPC") announced that it opened a sector inquiry into the electricity markets in Bulgaria. The formal decision has not yet been published. However, the sector inquiry is expected to cover the entire electricity value chain.

Newssquare New Rules For Summarized Calculation Of Working Time In Bulgaria

On 1 January 2018 important amendments to the Ordinance on working time, breaks and holidays (the 'Ordinance') concerning the summarized calculation of the working time ('SCWT') entered into force.

Newssquare Bulgaria: Private Damages Directive Implemented

On 3 January 2018, a new Law for Amendment and Supplementation ("New Law") of the Competition Protection Act ("CPA") was published in the Bulgarian Official Gazette. The New Law implements the European Directive 2014/104/EU of 26 November 2014 on certain rules governing actions for damages under national law for infringements of national or EU competition law (the “Damages Directive”). EU Member States were required to implement the Damages Directive in their national legal systems by 27 December 2016.



Newssquare The Polish Personal Data Protection Act Is Closer To Completion

On Monday, January 15th, 2018, in the Column Hall of the Polish Parliament, the Ministry of Digitalization organized a meeting to summarize the public consultations on the package of legislative changes required for implementation of “GDPR”, the Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 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.

Newssquare New Court Decision Confirms that Enterprise Pledges under Bulgarian Law Remain an Efficient Tool for Lenders

In its decision of 3 January 2018, the Sofia City Court followed Wolf Theiss' argumentation and confirmed that the privilege of first ranking creditors under enterprise pledges extends over each and every asset forming part of the pool without the need for enforcement.

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