Recast of the EU Regulation on Insolvency Law Applicable as of Today
The EU Regulation on Insolvency Law 1346/2000 (EIR) was considered a milestone in the cross-border coordination of national insolvency proceedings. The recast of the EU Regulation on Insolvency Law 2015/848, applicable to insolvency proceedings opened after 26 June 2017, considers substantial developments in national insolvency laws. read more…
Lessons Learned over Three Years: Amendment of the Hungarian Trust Regulation
The Hungarian Parliament passed an act in June 2017 with the aim of improving Hungary's business competitiveness. Among other things, the amendment has changed the regulation of trusts and their management, hopefully for the better, since the past three years have shown that a lack of such experience still exists. The legal concept of trust …
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Austria: Slightly Lower Fees, a Little More Liberalisation – The 2017 Amendments to the Austrian Tra
Following a year of intense political discussion, the Austrian Parliament adopted numerous amendments to the Austrian Trade Act 1994 (Gewerbeordnung 1994, "GewO") at the end of June. While the reform falls significantly short of the outgoing government's original announcements last July with the aim to liberalise market access and to cut red tape for businesses, …
Austria: Avoid Expensive Mistakes As Startup Employer
As violations may lead to enormous liabilities, start-up employers are advised from the outset to comply with the applicable laws pertaining to their personnel. In addition to being an underestimated factor when it comes to financial liabilities, employment-law-related mistakes may also result in difficulties in the course of a company's sales process. For a better …
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Renewable Energy: Amendment of the Austrian Green Electricity Act Doubles Funding
After four months of negotiations, the Austrian National Council has finally reached an agreement on the amendment of the Green Electricity Act ("Ökostromnovelle"). The required two-thirds majority was reached by a last minute agreement between the coalition parties and the Green Party. The aim of the new legislation is to increase the percentage of green …
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Changing rules for applying foreign tax credits
12 Jul 2017 at 04:00 / NEWSPAPER SECTION: BUSINESS >Changing rules for applying foreign tax credits One of the original principles outlined in the OECD Model Tax Convention is that no taxpayer should be taxed repeatedly on the same amount of income earned from a cross-border transaction. This situation is referred to as "juridical double …
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Quarterly Update on Anti-Dumping Cases in Turkey (July 2017)
In Turkey, the authority to initiate dumping or subsidy examinations, upon complaint or, where necessary, ex officio, is given to the Ministry of Economy ("Ministry"). Within the scope of this authority, the Ministry announces its decisions with the communiqués published on the Official Gazette.
Arresting Orders Under The Uae Criminal Procedure Law
It has been noticed that many of our colleagues based abroad are contacting us here in the UAE for their clients who were unfortunately arrested at one of the Airports in the UAE for some criminal charges. Their query usually relates to what the expected procedures are.
Austria: Major Changes in Personal Bankruptcy Law
On 28 June 2017 the Austrian Parliament passed the government's legislative proposal on insolvency law (Insolvenzrechtsänderungsesetz 2017). After lengthy negotiations, the government finally agreed to shorten personal insolvency proceedings to a maximum five years and to abolish the minimum insolvency quota of 10 % under certain conditions. The amendments will be applicable as of 1 November 2017. read more…
The Dangers Of Cartels.
Syedur Rahman and Nicola Sharp consider two recent cartel cases and examine why businesses must take care not to become involved in such behaviour.