Non-payment of capital contribution in joint-stock companies: the forfeiture procedure under Turkish law

Capital commitment is one of the indispensable conditions for becoming a shareholder in a Turkish joint-stock company (“JSC”). Under Turkish law, the main responsibility of a shareholder, whether in the stage of incorporation or capital increase, is to pay the undertaken capital.

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NFTs: What about energy and climate issues?

The minting, transfer and even the sheer existence of NFTs require a lot of energy. But what is the reason for all this energy consumption and are there regulatory instruments to curb it?

CRD V finally implemented into Austrian law

A law implementing, among others, Directive (EU) 2019/878 amending Directive (EU) 2013/36 (Capital Requirements Directive – CRD V) has been passed by the Austrian Parliament and Federal Council, and has been published in the Federal Gazette. CRD V (as part of the package together with Regulation (EU) 2019/876 amending Regulation (EU) 575/2013 – CRR II) […]

Austria: Civil law aspects of selling a token – a random selection

If you are following our NFT self-experiment, you already know what an NFT is and what it stands for. If not, you might want to read more. The following article addresses a random first choice of civil law, contractual aspects to be precise, which the authors think are worth considering before you buy (or sell) […]

Hungary implemented CDSM and SatCab Directives, most rules effective 1 June 2021

Hungary is one of the first countries in CEE to fully implement Directive 2019/790 on Copyright in the Digital Single Market (“CDSM Directive”) and Directive 2019/789 (“SatCab 2.0 Directive”). The so-called “Copyright Reform Act” (Act XXXVII of 2021) was published in the Official Gazette on 6 May 2021, and the majority of the new rules […]

Latest Briefings

Moving to the Cayman Islands

Boasting an enviable lifestyle, modern infrastructure and a highly sophisticated financial services industry and all within a short flight of Miami and other US cities, the Cayman Islands check all the boxes for individuals seeking to relocate to a tax-neutral jurisdiction. As a result, the Cayman Islands have evolved into an increasingly popular place of residence for internationally mobile “remote-workers” and high-net-worth individuals from around the world.

FCA consults on new consumer duty in retail financial markets

Following the April 2019 publication of its feedback statement on a duty of care and potential alternative approaches, the Financial Conduct Authority (FCA) is consulting until 31 July 2021 on a new Consumer Duty that would set clearer and higher expectations for firms’ standards of care towards consumers.

Tech companies: three things you should know from the 2021-22 Quebec budget

The Québec Budget 2021–2022 includes measures encouraging investment to accelerate technology adoption and strengthens several tax measures aimed at the technology sector. The three key tax measures that tech businesses and entrepreneurs should know about are discussed below.

Workplace testing and vaccinations: What employers need to know

Workplace testing has proven to be a crucial piece in the UK government’s jigsaw to get British business back on its feet. But how can businesses implement a workplace testing programme and will the vaccine roll out make a difference?

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