Montenegro: Insight into the New Companies Act

The new Montenegrin Companies Act which entered into force on 11 July 2020, is an innovative and thoroughgoing codification of Montenegrin Corporate Law. The legislator opted for a comprehensive legal instrument which, compared to the previous law, contains more detailed and exhaustive rules determining the establishment, management, restructuring, termination and functioning of business entities.

Related briefings

Here comes the sun (nenergy)

In Schönherr’s Renewable Expansion Law Infocorner , the essential cornerstones of the EAG package are presented and practical legal issues are dealt with. Also, stay informed about current events and webinars.

Romania plans to tighten its foreign investment screening rules

The screening of foreign direct investments (FDIs) has been a hot topic for some time now across CEE (as also covered here). Several jurisdictions have adopted stricter measures of scrutiny allowing for the vetting of transactions potentially posing security risks. In line with this trend, the Romanian Competition Council has put forward new draft legislation aimed at tightening the existing FDI screening rules. This draft is subject to public debate until 6 October.

Renewable Expansion Act (EAG)

Review draft published – a first overview! On September 16, 2020, the eagerly awaited draft of the Federal Law on the Expansion of Energy from Renewable Sources (Renewable Expansion Law – EAG ) was submitted for assessment. As a contribution to the realization of the goals of the Paris Climate Protection Agreement 2015, the draft creates new framework conditions for the expansion of renewable energies in Austria. The present article gives an initial overview. Details will follow in focus articles and in our virtual series of events

Mandatory e-communication for companies seated in Croatia

The digitalisation of the Croatian court system is proceeding and e-communication is expanding. Snail mail and “paper” communication are on the verge of extinction. As of 1 September 2020, all legal entities will have to use e-communication with the court. All legal entities registered in the Croatian Commercial Register must submit information on their e-mail […]

Latest Briefings

Coronavirus Update: Working From Home (again)

A government campaign was launched in early August to actively encourage employees to return to the workplace in an attempt to boost the wider economy and revitalise city centres that had been left empty after months of lockdown. However, within two months, the pandemic appears to have taken a turn for the worse and the government announced yesterday that once again people should work from home wherever possible.

Ukraine relaunches privatisation

September 2020 – Yesterday, 22 September, the President of Ukraine signed the Law which amends the Law of Ukraine “On privatisation of state and communal property” (the “Law”), introduces parliamentary control over the privatisation of state property and “unfreezes” the preparatory procedures to privatise large-scale state-owned objects. The Law was adopted by the Ukrainian parliament on 8 September 2020 and will become effective after its official publication.

Cyprus introduces film production incentives

Producers and media companies are invited to utilise the Cyprus landscape and infrastructure and enjoy a variety of legal, corporate and tax incentives for filming in Cyprus under the new Cyprus Filming Scheme.

Legal guide to pre-enforcement steps under Jersey and Guernsey law

The temporary Covid-19 protections offered by the UK government to businesses to prevent them from being subject to winding up petitions or wrongful trading actions are currently due to expire at the end of September (although an extension is very possible).

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Clifford Chance assembles 50-strong Covid-19 partner taskforce

Clifford Chance has assembled a large partner-led taskforce to lay out the firm’s long-term response to client issues stemming from the pandemic. The magic circle firm is relying on the work of a mammoth collective of 50 partners tasked with concocting strategies and alternative business lines to offer clients in the path to recovery. Led […]

Succession planning in fintechs leaves much to be desired

The digital financial services sector is prospering. TransferWise’s $319m share sale this week, led by D1 Capital Partners and Lone Pine Capital, indicates a 40 per cent increase in the valuation of the company compared to last year. Revolut’s $500m Series D funding in February valued the company at $5.5bn, the highest valued fintech company […]

Bingo

The deals that closed last week: Bingo, Simon Cowell and law firm office moves

Last week saw a restructuring in the leisure industry, as opposed to retail, with Macfarlanes on call for Buzz Bingo. The UK’s biggest omni-channel bingo business, Buzz agreed a company voluntary arrangement (CVA), with Eversheds Sutherland advising on the real estate side. Buzz is owned by FTSE 250 investment company Caledonia Investments, which instructed Taylor […]

moving quickly

The speed read: angry law students; oligarchs; and redundancies

Students are not having a great lockdown When an individual law firm gets into trouble, the wider profession usually rallies round to help its most junior members: trainees and law students. Case in point: KWM a few years back. But when the whole profession is going through difficult times it’s a slightly different situation and […]

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