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On 30 November 2016 the European Commission published its "Winter Package" containing proposals for new rules for a consumer-centered clean energy transition. The 500 page Winter Package had been eagerly awaited by the energy industry since it was to contain the major energy regulations for 2020 onwards. As expected, the most substantial measures and amendments proposed concern renewables and energy efficiency in the European Union. In addition, the electricity market design is proposed to be amended. read more...
The Constitutional Court of Moldova has spoken: No Need for Acquirer of a Share Stake to Obtain SharThrough its 27 September 2016 decision (" Decision 27/2016 "), the Constitutional Court of Moldova (" Constitutional Court ") has declared certain provisions of the local Law on Limited-Liability Companies (" Law 135/2007 ") unconstitutional. In particular, it ruled that the operation of amendments to constitutive acts cannot constitute a condition and impediment to an acquirer registering its property right over a share stake in the State Register of Companies. read more...
Protection of new and interim financings in restructuring? - The European Commission's proposal on eSince the European Commission adopted the recommendation on restructuring and second chance in 2014, it has been working on the evaluation of its initiative and the introduction of a European legal framework. In 2015 the Capital Markets Union Action Plan included the announcement of a legislative initiative on early restructuring and second chance. Finally, on 22 November 2016, the European Commission published its proposal for a European Directive on preventive restructuring frameworks and a second chance for entrepreneurs. The proposal includes, inter alia, provisions protecting new and interim financing in restructurings. read more...
The Austrian Federal Government agreed in its 2013-2018 work programme, on the implementation of a nationwide ban on speculative financial transactions for the Federation, the Austrian Federal States, Austrian Municipalities, and other public bodies. read more...
The EU Capital Market Union - European Commission establishes expert group to develop strategy on suOn 28 October 2016, the European Commission decided to establish a High Level Expert Group on sustainable finance, one of the European Commission's primary objectives within the EU Capital Markets Union ( "CMU" ).
The Slovenian courts were recently asked to rule on companies' right to be heard during unannounced investigations (so-called 'dawn raids') by the Competition Protection Agency. read more...
As of 20 October 2016, new legal provisions are in place in Romania setting out how consumers should be informed of products that use frozen foods in their preparation. In this respect, the consumer protection authority enacted Order 183/2016 (" Order 183 ") published in the Official Gazette on 20 September 2016. read more...
Arbitration has long been the favorite of the ADR family. Mediation, however, has established an increasingly relevant position for itself when it comes to resolving (international) commercial disputes quickly, cost-efficiently, and successfully. READ MORE...
The Gas Market Model Ordinance plays a major role in the Austrian gas market, as it regulates network access and the capacity management and balancing system in Austria's three market areas: the east, Tyrol and Vorarlberg. read more...
One of the main advantages of arbitration vis-à-vis state court litigation, is that the parties are free to choose independent and highly specialised experts to decide their cases. Yet, if these experts negligently (or even deliberately) violate the duties that come with the acceptance of the appointment, the issue of liability arises. read more...