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Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
AT: Responsibility of Managing Directors to Ensure an Effective and Adequate Compliance OrganizationIn our Legal Insights edition of 9 March 2015 , we already adressed the recent decision issued by the District Court of Munich No I in Germany (Landgericht München I; the "Court") on the liability of directors for inadequate compliance organizations. read more...
Initial negative market value "reloaded": The German Supreme Court clarifies substantive questions rFor the first time after its 2011 Spread Ladder Swap Judgment (BGH 22.3.2011- XI ZR 316/13), the banking division of the German Supreme Court has recently (BGH 20.1.2015 – XI ZR 316/13) dealt with the disclosure duties of banks in connection with derivative products. The initial negative market value is the core issue of the judgment, which clarifies important questions that had been left open by the Spread Ladder Swap Judgment. read more...
An updated regulation on the licensing regime in Romania's power sector was recently adopted by ANRE, the national regulatory authority. On 17 March 2015, Order no. 12/2015 on the Regulation for granting licenses and authorizations in the electricity sector (" Order 12 "), effective as of publication, was published in the Romanian Official Gazette no. 180/2015 and repeals the former regulation, ie Order no. 48/2013. read more...
The Czech Republic’s new Civil Code and its Business Corporation Act are effective since 1 January 2014. These two acts represent the leading elements of the re-codification of Czech civil law, which -- apart from many other changes -- has brought changes also in the area of payment of profit sharing. read more...
Poland’s parliament recently adopted a new act on renewable energy sources (“RES ”) that significantly changes the RES support scheme in the country.
1. Recodification of the Czech civil law With effect from 1 January 2014, the entire Czech civil law has been re-enacted by Act No. 89/2012 Coll., the civil code (the “ Civil Code ”), along with Act No. 90/2012 Coll., the business corporation act (the “ Business Corporation Act ”), and other legislation. read more...
On 2 May 2016, restrictions on acquiring agricultural and forest real properties located in Poland by foreigners from the European Economic Area (EEA) and Switzerland will cease to be binding. Does this mean that trade in agricultural real properties will be entirely free and not subject to any restrictions as of that time? read more...
In December 2014, two sets of amendments to the Planning and Construction Act were published in nos. 132/2014 and 145/2014 of the Official Gazette of the Republic of Serbia (collectively " New PCA "). read more...
At the end of 2014, the Romanian parliament passed a law whose main purpose is to dissolve the Rasdaq market and unlisted securities markets. These measures must be implemented by 27 October 2015. Considering the potential significant disruptions that may occur in the activity of the companies it targets, this law is important for its addressees, but also for their suppliers, sponsors, and contractual partners. read more...
Proposed EPC is not mandatory for all buildings