In its decision (No. 24/2nd commercial department) of 12
September 2013, the Supreme Cassation Court of Bulgaria comprehensively expressed
its opinion on the substantive legal aspects of the economic adverse change
clause and ruled on the termination of a lease agreement on this ground.
According to the decision, a fundamental change of the circumstances could lead
to early termination of an agreement if such change was not caused by any of
the parties and neither of them was able to predict it at signing, as well as
if further force and effect of the agreement are contrary to the principles of
justice and the bona fide rules. The decision is of major importance, since it
marks the first time that a long-term lease agreement has been terminated by
court ruling due to an economic adverse change. read more...
As you most probably know, Claeys & Engels published a magazine
entitled "Ontslagwijzer 2014"/"Préavis 2014" on the occasion of the new
dismissal laws which entered into force at the beginning of this year.
Turkish Commercial Code No. 6102 dated July 1, 2012 ('the Law') implemented a
number of provisions and brought additional obligations for capital companies.
One of such obligations set forth by the Law is the obligation to have a
dedicated website. According to Article 1524 of the Law, all capital companies
subject to auditing are also required to open a dedicated internet website and
publish certain information.
Non-resident companies and/or foreign individuals may choose to enter
into Turkish market through incorporation of a commercial entity. Find
below a summary of relevant information regarding available company
types, branches and liaison offices.
By its 3 April 2014 judgment in a preliminary ruling procedure,
the ECJ has held that in certain cases, the Member States are required to
propose to the Commission the declassification of a site on the list of SCIs.
This is especially true for those cases in which the owner of land forming part
of a site on that list makes a request to declassify that site and proves that
the relevant site cannot contribute to the achievement of the objectives set
forth in the Habitats Directive. read more...