Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
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We are pleased to bring you our Legal
Express, which covers the most significant
legislative changes in Russia
in December 2011 and January 2012.
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Parties to rental contracts for commercial premises often agree priority rental rights. In practice,
this concept is used to cover a whole series of legal structures. These range from fixed options for
the tenant to a promise made by the landlord as a business policy that if any additional premises
become available, they will be offered to the tenant. In 2010 the Berlin Court of Appeal issued a
ruling on such priority rental rights in insolvency; the decision has recently been published.
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Introduction Simon Bushell Herbert Smith LLP 3
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by Charlotte Schmitt, LL.M, GSK Stockmann + Kollegen
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Managers of so-called alternative investment funds will in future be supervised and there will be an extensive catalogue of obligations for selling and marketing alternative investment fund.
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Law Business Research, 2011
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The EU Rome I Regulation (593/2008) of the European Parliament and of the Council came into force on 17 December 2009 (Convention). The Convention sets rules to determine the (national) law applicable to contractual obligations in civil and commercial matters. This Regulation replaces the 1980 Rome Convention and is especially relevant to cross-border businesses. The intention of the Convention is to provide legal certainty in cases where the parties have not expressly chosen the applicable law governing their contract.
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According to a judgment of the German Federal Supreme Court from February 2010, the general assembly (Hauptversammlung) of a stock corporation (“Corporation”) may resolve to include a provision in its articles of association which comprehensively empowers the chairman to reasonably restrict the time available to shareholders to debate during the shareholder’s meeting.
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Managers of so-called alternitive investment funds will in future be supervised and there will be an extensive catalogue of obligations for selling and marketing alternitive investment fund.
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Equity currently appears easier to obtain than bank financing.
Due to the changes in the financial sector, the financing of real
estate acquisitions or project developments is more difficult than
before the financial crisis. Banks are now requesting more equity.
In addition, following Basel III (a new international regulatory
framework for banks), the demand for equity will grow.
