EU: Lex “Nord Stream 2” in the pipeline

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Austria – Has due diligence obligations for shareholder creditors increased?

The Austrian Insolvency Code provides for the possibility to challenge certain disadvantageous transactions carried out by the debtor after material insolvency has occurred, especially if the creditor knew or should have known of its debtor’s material insolvency. This risk of legal actions being contested is of particularly high relevance for shareholders who are also creditors […]

Board decisions made by delegation of powers can be challenged in court in Romania

By Mădălina Neagu, Andra Jegan To enable decisions to be passed efficiently, the Companies Law (31/1990) created flexible mechanisms and procedures allowing specific shareholder powers to be delegated to a company’s management. Such mechanisms have been successfully implemented by a vast number of companies and have enabled them to expedite corporate changes concerning their main […]

New Act on the Control of Investments Detrimental to the Interests of Hungarian National Security

The Hungarian Government recently adopted Act no. LVII of 2018 on the Control of Investments Detrimental to the Interests of Hungarian National Security (the “Act”). Previously we wrote about a similar legislative proposal which aimed at establishing a similar control mechanism. However, the Act has a more sophisticated approach on the control and approval procedure […]

Health and safety at work in Romania: What companies need to know

Failure to take or observe the mandatory measures for health and safety at work may entail, among other types of liability (e.g. civil, administrative), potential criminal liability for employers. The Romanian Criminal Code (the “RCC”) provides for two offences which sanction such failure: i) failure to take the mandatory measures for health and safety at […]

Czech Republic: Office for the Protection of Competition gets tougher

In April 2018 the Office for the Protection of Competition adopted new guidelines on the method of setting fines for competition law infringements,(1) noting that the need for a revision of the previous guidelines had emerged in the wake of developing case law, as well as amendments to the Act on the Protection of Competition. The […]

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Impact of DSARs in the GDPR Era

Since the General Data Protection Regulation (GDPR) went into effect this past May, there has been a significant uptick in the number of data subject access requests (DSARs). Due to these regulatory changes, along with steep fines and shorter deadlines to complete requests, the compliance burden on organizations has to be taken seriously. To effectively […]

British Virgin Islands introduces the Micro Business Companies Act

By Alan Hughes As a leading oÂshore Ênancial center and in keeping with its constant drive toward the development and implementation of robust, modern and progressive corporate products, the British Virgin Islands (BVI) has recently introduced the Micro Business Companies Act (the “MBC Act”) – bespoke and innovative legislation designed speciÊcally toward developing and supporting the […]

Court’s guidance on identifying a firm’s centre of interests

By Duncan Lole, Gawain Moore, Geoff Cunningham In the recent case of Re Videology Ltd, the English High Court considered the factors relevant for determining a company’s centre of main interests (or COMI) and whether it had an establishment in a foreign jurisdiction for the purposes of the Cross-Border Insolvency Regulations 2006. Walker Morris insolvency experts, Duncan […]

Redress scheme outcome challenges – Have they ended?

By Paul Gair The recent case of R. (on the application of Holmcroft Properties Ltd) v KPMG LLP 2018 WL 04636705 has confirmed that Judicial Review is not the appropriate avenue for a bank customer unhappy with an accountancy firm acting as a ‘skilled person’ in approving an offer of compensation by his bank under a redress […]

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Schoenherr advises Endeit Capital on €9m financing round

Schoenherr is leveraging its start-up and venture capital expertise by advising Dutch capital investment firm Endeit Capital as lead investor in a €9m Series B financing round for Austrian tour booking platform TourRadar. Endeit Capital became the new lead investor in TourRadar by acquiring a minority stake in the Austrian company. The Schoenherr team consisted […]

First 100 Years’ Conference

Sarah Clarke QC and Katie Gollop QC championed the interviews with Her Honour Judge Joanna Korner CMG QC and Nemone Lethbridge at the Women Leaders in Law conference yesterday. You can catch the interview on Joshua Rozenberg’s Law In Action. Serjeants’ Inn is a founding partner of First 100 Years/ Spark 21.

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