Significant adjustments to Insolvency Law in Austria
The Insolvency Law Amending Statute of 2017 (Insolvenzrechtsänderungsgesetz 2017, IRÄG 2017) was adopted by the Council of Ministers at the end of March and is currently in the process of being reviewed. The reform is due to enter into force on 1 July 2017 and contains significant innovations. Its primary objective is to facilitate the …
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Increased Liability for Real Estate Agents in Austria
Pursuant to the Austrian Broker Act (Maklergesetz), a broker has to fairly and diligently protect their principal's interest. Until a very recent judgment of the Austrian Supreme Court (Oberster Gerichtshof), courts have taken a very lenient stance on the liability of real estate agents. The judgment of the Supreme Court of 24 Jan 2017, however, …
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Challenging Fca Accusations
Nicola Sharp and Syedur Rahman explain how changes to the way the FCA investigates cases will make it easier for companies and individuals to negotiate the best possible outcome.
Obtaining A Dpa
With deferred prosecution agreements (DPA’s) becoming more common, Aziz Rahman considers how a company under investigation can enhance its chances of obtaining one in order to avoid prosecution.
Recent Amendments to Environmental Impact Assessment Regulation
On 26 May 2017, the Environmental Impact Assessment Regulation has been amended to shorten the time frames for environmental impact assessment (“EIA”) process and to extend the scope of EIA requirement for solar and wind power projects.
Establishment of the Natural Gas Spot Market in Turkey
In line with the government’s objectives to make Turkey a regional hub for natural gas trading, a natural gas spot market has been established by the Natural Gas Organized Wholesale Market Regulation published in the Official Gazette on 31 March 2017.
Croatia: Lex Agrokor – Government Intervention at the Eleventh Hour
Lex Agrokor – behind the scenes The hottest topic in Croatia right now is the Agrokor situation and the newly enacted Act on Compulsory Administration Procedure in Companies of Systemic Importance for the Republic of Croatia (Zakon o postupku izvanredne uprave u trgovačkim društvima od sistemskog značaja za Republiku Hrvatsku; the "Act"). The Act was …
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Remedy Against Trademark Infringement
Mr. Nurzhan Stamkulov, Ms. Dina Bektemirova Kazakhstan legal framework provides a legal protection for owners of intellectual property. This article focuses on trademark infringement and legal actions available to protect brands.
Special Audit in Joint Stock Companies
I. Introduction In joint stock companies, there are three types of audit mechanism, namely (i) statutory audit, (ii) optional audit and (iii) special audit. In accordance with the Turkish Commercial Code No. 6102 ("TCC"), all joint stock companies are subject to statutory audit. Said article stipulates that statutory audit is conducted pursuant to article 398 …
Austria: Draft Data Protection Amendment Act 2018 in Appraisal
National Room for Manoeuvre Despite the GDPR About a year before the General Data Protection Regulation (GDPR) comes into full effect, the Austrian legislator officially started a six-week consultation process for the national Data Protection Amendment Act 2018 (Datenschutz-Anpassungsgesetz 2018). The GDPR will harmonise the EU's data protection laws, but numerous so-called "opening clauses" allow …
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