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Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
I. Change in the labour law - Abolishing the obligation of the pre-employment health examination read more...
In the Czech Republic, the permissibility of using hidden recordings or other similar kinds of evidence within a court proceeding is quite questionable. At the end of 2014, the country's Constitutional Court issued an interesting decision (II ÚS 1774/14 dated 9 December 2014) on such matters that is particularly relevant for employers, as it deals with a dismissed employee's use of such means against his or her employer. read more...
On 23 March 2015, the Hungarian Competition Authority ("Competition Authority") imposed a fine of over 1 billion Hungarian forints (HUF 1,061,300,000, corresponding to more than EUR 3.5 million) on the retailer Auchan on the basis of the Hungarian Trade Act for abusing its significant market power. This marks the highest fine ever imposed in the sector by the Competition Authority in Hungary. read more...
The fight against corruption has intensified over the past few years, causing the issue of corporate compliance to become ever more important. In step with this development, corporations are increasingly implementing compliance management systems to ensure compliant behavior. However, there is still a lack of case-law in Austria as to the legal sufficiency of such systems and their effective implementation. For this reason, a recent decision on this issue by the District Court of Munich No I ( Landgericht München I ; the " Court ") is all the more important. read more...
In the Slovak consumer lending market, in addition to banks, an important role is also currently played by other providers, which are usually denominated as non-banking companies. read more...
On 24 March 2015, the Bulgarian parliament promulgated an emergency insolvency law that makes almost all of the major effects of insolvency proceedings applicable to Corporate Commercial Bank, even as the court proceedings on the application for commencement of insolvency against the bank continue. In accordance with the new law, on 25 March 2015 the court appointed temporary insolvency administrators to that bank vested with broad powers to recover assets of the bank. read more...
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...