Press releases and law firm thought leadership
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A testator who makes a gift during his lifetime may give rise to tax advantages. However, any gifts need to be taken into account when calculating the compulsory portion.
Montenegrin media outlets have recently reported that the initial phase of the tender for the pre-qualification procedure in awarding the concession for the Kotor-Lovćen-Cetinje cableway – announced on 3 August in the Official Gazette of Montenegro – will be open to interested parties until 5 October this year. The president of the Tender Commission, Daliborka Pejović, pointed out that seven potential concessionaires have so far shown great interest for submitting the required documentation in the pre-qualification stage.
Karanović & Nikolić is pleased to have advised on the recent public procurement case in which our client – the seller – provided the City of Belgrade with five new electric buses for the city's public transport system. The team that led the client throughout the process was represented by Marjan Poljak, Partner, and Ana Stanković, Senior Associate.
Recent news reports from Bosnia tell us that the BiH government, represented by the federal prime minister for economic issues and investments, Suvad Osmanagić, paid a visit to Bihać with Ludovico Camozzi, the president and owner of Camozzi – an Italian company that produces industrial automation machinery.
Ever since Serbia’s Stabilisation and Association Agreement with the EU (‘SAA’) entered into force in September 2013, Serbian media have paid significant attention to the country’s obligations concerning the acquisition of agricultural land by foreigners. The fear of one part of the public appears to be that, due to the application of the SAA, large portions of Serbian agricultural land will be sold out to foreigners.
Here, we will take a look at what obligations precisely Serbia accepted under the SAA and what would happen if Serbia failed to act in accordance with these obligations.
This article was initially featured in CEE Legal Matters, June 2016 edition.
The contemporary business world has become fundamentally tied in with the progress of globalisation, and for anyone involved in it, that is no secret. Anybody would be hard pressed to find an industry that can exist and sustain itself in a purely national context, without – at least in some regard – relying on either a piece of legislation or a practice trend that is related to whatever kind of international functioning. A fine illustrative example of such an issue nowadays can be found in the international trade of fast moving consumer goods (and to a lesser extent pharmaceutical products), as well as the ways in which such products find their path to consumers' hands. More precisely, in the ways that products are moved on a cross-border basis, and how such movement corresponds with the respective national intellectual property (IP) protections in place, bringing us to a division between an international exhaustion of IP rights and the national exhaustion of these same rights. It is the presence of the parallel import issue that has sparked a rather controversial debate over which of the two is preferable.
Claims arising from a D&O (Directors & Officers) insurance policy can be ceded to the employer. That was the verdict of the Bundesgerichtshof (BGH), Germany’s Federal Court of Justice, in its ruling of April 13, 2016 (Az.: IV ZR 304/13).
According to latest media reports, the governments of Serbia and Bulgaria have agreed on the formulation of a new memorandum for the task of building a gas pipeline between the two countries, during a recent meeting of the group for gas connections in Central and South East Europe that was held in Budapest.
An interesting news update has recently come up in the media, as the Serbian roads company "Putevi Srbije", and the Ministry of Construction, Transport, and Infrastructure – together with the representatives of the relevant institutions in Romania – announced that a contract on implementing a cross border project of building the Belgrade-Timisoara highway is due to be signed in the next two weeks.
Media reports are letting us know that the "Serbia - A Strategic Crossroads between Western and Eastern Europe," conference was held in Paris on 15 September, where the French companies were presented with the political and economic environment in Serbia, as well as with the ensuing investment opportunities and the possibility of financing economic projects.
In its new administrative instructions for the third quarter of 2016 published on 30 August, the National Social Security Office (NSSO) announced that the maximum indemnity for home office expenses has been increased from EUR 119.61 to EUR 122.01 per month.
On September 22, 2016 VEGAS LEX Commercial group junior associate Anastasia Cheredova participated in the Fourth Partnering ‘Russian Medicines. An interdisciplinary dialogue’ in Kazan, organized by FAS Russia, the Healthcare Ministry of Tatarstan, and the Association of the Russian Pharmaceutical Manufacturers.
The managing director is responsible for ensuring proper payment of social security contributions. If these are not paid, he could potentially be personally liable for this.
Infringements of competition law or antitrust law can prove to be costly for businesses. That much is clear from the annual report for 2015 that was recently published by the Bundeskartellamt, Germany’s Federal Cartel Office.
VEGAS LEX Partner, Head of Energy practice Evgeniy Rodin has moderated a roundtable discussion on the payment discipline and ways to resolve conflicts in the housing and utilities sector, organized by the Kommersant Publishing House.
Family homes can only be passed on to one’s spouse or children free of tax if certain conditions are met. That was the verdict of the Finanzgericht (FG) München [Fiscal Court of Munich] in one of its recent rulings.
Employment law provides for the possibility of extraordinary dismissal without prior notice. However, this can only be effective if there is good cause justifying this course of action.
Germany’s federal government has settled on reforms to inheritance tax. Company heirs can continue to expect favourable tax treatment in the context of business succession.
In order to effectively issue ordinary notice of dismissal for reasons relating to conduct, it is often necessary for the employer to have previously issued a formal written warning.
Baker & Partners has been ranked in the top tier of Jersey legal firms for Dispute Resolution in the 2016 Legal 500 Index. This makes Baker & Partners the only bespoke litigation firm in Jersey operating in the top tier.
It is important to bear in mind when removing a managing director from his post for good cause that an employment relationship exists as well. These two legal relationships ought to be considered separately.
ETH Zurich was awarded the contract by the European Space Agency (ESA) for the ESA Business Incubation Centre Switzerland. The initiative was launched by the State Secretariat for Education, Research and Innovation. It supports selected young start-ups with a connection to space technologies.
ESA BIC Switzerland focuses on Swiss start-ups that apply innovative space technologies to challenges in other fields. It offers one of the most attractive programmes for young entrepreneurs in Switzerland. Eligible start-ups can receive up to EUR 500,000 of financial backing as well as technological and business support. The programme is currently projected to last for five years and will accept up to 10 start-ups per year. A jury made up of representatives from ESA, ETH Zurich and other partners will select the first start-ups for ESA BIC Switzerland this November.
An interesting trend can be noticed recently as the Serbian Tax Administration and Tax Police have raised their level of activity in conducting routine tax inspections in companies across the country. This is not to say that such activities can be labelled as unconventional on its own – seeing as how they present one of the fundamental aspects of the Administration's scope of work – but the ways in which they have been undertaken and their consequences do perhaps give some cause for concern.
Several truck manufacturers should anticipate an antitrust fine that is likely to be higher than any previous fine to date in the EU. They stand accused, among other things, of price-fixing.
A Berliner Testament (Berlin will) is a widespread form of will in which spouses mutually appoint each other as sole heirs. While this spousal will offers many advantages, it also entails potential disadvantages.
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The Bundesverfassungsgericht, Germany’s Federal Constitutional Court, recently had to grapple with the issue of whether greater value ought to be attached to artistic freedom or copyright law in a given case. In its judgment of May 31, the Court chose to bolster artistic freedom (Az. 1 BvR 1585/13).
On September 7, 2016 VEGAS LEX organized a roundtable on Private Investment and PPP in the Defence Industry: Participants, Mechanisms and Prospects as part of the ARMY 2016 international military technical forum.
Anyone who does not wish to have their estate distributed in accordance with the rules of intestate succession needs to prepare a will or contract of inheritance. In order to prevent disputes from occurring, it is important that the testator’s final wishes be clear.
Schoenherr Bratislava has advised the Albéa group ("Albéa") on the acquisition of 100 % of the shares in SCANDOLARA TUB-EST, s.r.o. ("Scandolara"), a Slovak subsidiary of the Italian Scandolara Group, which produces laminate tubes. read more...
Basellandschaftliche Kantonalbank (BLKB) and the Swiss robo-advisor True Wealth AG have entered into a strategic partnership. BLKB further acquired a minority stake in True Wealth.
Recordati, an international pharmaceutical group listed on the Italian Stock Exchange, acquires the Swiss pharmaceutical company Pro Farma AG.
On 22 July 2016, the shareholder sold a majority stake in the AutoForm Group to Astorg Partners. AutoForm Group is a leading provider of software solutions for the design and sheet metal forming simulation. Astorg Partners is one of the most successful independent private equity companies in Europe.
Kyiv, 9 September 2016 - AVELLUM advises Custos Invest & Finance Inc., one of the Datagroup’s shareholders, in connection with the increase of the stake of Horizon Capital in Datagroup from significant minority to over 70%.
If a car dealership advertises with a manufacturer’s logo without being an authorized dealer, this may constitute misleading advertising vis-à-vis consumers and violate competition law.
The dispute resolution team of the Law firm "Jurline" successfully defended the interests of a group of agro-companies (import and distribution of plant protection products, seed, and fertilizers) in litigation dispute with the State Tax Inspection in Kyivskyi district of Odesa.
The right of withdrawal for real estate loans concluded between November 2, 2002 and June 10, 2010 is set to come to an end on June 21, 2016. In the case of more recent agreements, withdrawal remains an option.
Eterna Law successfully acted for European insurance company Credimundi NVSA member of Credendo grou
Moscow, August 30th, - Moscow office of Eterna Law successfully acted for European insurance company Credimundi NVSA member of Credendo group in a dispute. Insurance company Credimundi sued for a large coal company JSC "Southern Kuzbass Coal Company" subrogation on insurance payment in respect of the obligation breached by non-payment of the amount due for the supply of goods.
While the right of withdrawal for real estate loans concluded between 2002 and 2010 is set to come to an end on June 21, the courts will continue to grapple with the subject of withdrawal beyond this date.
The favourable environment is contributing to the increasing significance of M&A transactions among German businesses again, with mergers and acquisitions supposed to be a way for companies to strengthen their market position.
One important issue when establishing a company is choosing the appropriate legal form. Lawyers at GRP Rainer are able to assess the respective pros and cons as well as advise businesses when reaching their decision.
On Friday, 2 September 2016, the Austrian Finance Minister has given the green light to finance a public offer by Kärntner Ausgleichszahlungs-Fonds (KAF) to HETA creditors pursuant to § 2a of the Austrian Financial Market Stability Act. The offer will implement the Memorandum of Understanding (MoU) concluded in May 2016 between the Austrian Minister of Finance and a significant number of creditors of debt instruments issued by HETA ASSET RESOLUTION AG (HETA) that are subject to a regional law deficiency guarantee. The offer will be published by KAF on Tuesday, 6 September 2016. read more...
Kyiv, 5 September 2016 – AVELLUM advised Altran, a global leader in innovation and high‐tech engineering consulting, on the acquisition of Lohika, a software engineering services firm.
Kyiv, 4 August 2016 – AVELLUM advised Allergan Inc. in connection with the divestiture of its global generic pharmaceuticals business to Teva Pharmaceutical Industries Ltd through a complex cross-border carve-out.
It is still possible to withdraw from a large number of real estate loans. The end of the withdrawal period only concerns loans that were concluded between November 2002 and June 2010.
Consumers could potentially save several thousand euros at the last minute by withdrawing from their loans. However, the withdrawal period is set to come to an end at exactly 12am on June 21.
Moscow, September 5th – Our client, a major French supplier of hardware and software for the confectionery industry, filed a claim with the International Commercial Arbitration Court (ICAC) against the largest confectionery manufacturer in the Russian market for the recovery of about EUR400,000 outstanding under a supply contract.
Two largest European grain traders had a dispute that arose out of a contract for wholesale supply of barley FOB Bourgas. The seller and buyer had a disagreement in relation to interpretation of contract terms of payment CAD (cash against documents). Because of this controversy, the seller refused to load the vessel, and the buyer declared the default of fulfilment of the contract by the seller, and subsequently re-routed the vessel to another port for purchase of barley under a replacement contract.