Reform push in Swiss corporate law

Swiss corporate law has changed significantly in the past 15 years. After the fundamentally revised law on limited liability companies (Gesellschaft mit beschränkter Haftung; GmbH) came into force in 2008, the revision of the law on stock corporations (Aktiengesellschaft; AG) is now coming to an end with the entry into effect of various innovations on January 1, 2023. Swiss accounting law and commercial register law have also been fundamentally renewed in recent years. In contrast to the situation in various foreign legislations, the stock corporation has become a popular form of legal entity in Switzerland, even for small or medium-sized companies. [...]

Germany: Obligation for employers to introduce timekeeping

Facts of the Case In 2018, the applicant works council and the employers, who run a full-time residential facility as a joint enterprise, concluded a company agreement on working hours. At the same time, they negotiated a company agreement on timekeeping, but no agreement was reached. At the request of the works council, the labour court set up an arbitration committee on the subject of “Conclusion of a Works Agreement for the Introduction and Application of Electronic Timekeeping.” After the employers had objected to its right of initiative, the works council initiated the present decision procedure. It seeks to be determined [...]

UK: Visa options for Ukrainian nationals

In response to the events unfolding in the Ukraine, the UK has launched the Ukraine Family Scheme, allowing immediate and extended family members of British nationals, people settled in the UK and certain other residents to come to the UK. The visa lasts for three years and it is free to apply. As of 4pm on 20 March 2022 over 61,000 applications have been opened, with 31,000 of those having been submitted. 10,200 visas have been issued so far. Please note that this information is changing daily, so please refer to the guidance for the latest information. Eligibility To apply to the Ukraine Family [...]

Over the hills and far away

The world-wide reach of the US Chapter 11 ‘Automatic Stay’ In our global economy, it is common for companies to be doing business and have assets located in multiple countries. When such companies become insolvent, protecting assets globally can be complicated. From the debtor company’s perspective, it seeks to prevent creditors from seizing assets or pursuing collection actions against the debtor, wherever the assets or creditor may be located. Naturally, the creditor’s perspective is the opposite: creditors seek to recover payment for goods or services that were provided to the debtor. When the debtors, creditors, and assets are located in multiple [...]

More and more start-ups in The Netherlands

Covid doesn’t seem to affect the number of start-ups in The Netherlands. Currently, there are 2,2 million companies in Holland. The pandemic doesn’t seem to have any influence on the number of start-ups in The Netherlands. Over 250.000 new companies have started in 2021. This is very high in comparison to the number of start-ups in The Netherlands before anyone had ever heard of Covid-19. Conclusion: there are still many people who have faith in the economy. Popular sectors Especially in the healthcare sector you can find many new companies. For instance, start-ups who focus completely on the support and accompaniment [...]

New EU Crowdfunding Rules and the Bulgarian Crowdfunding Landscape

A new EU crowdfunding regulation (1), which was adopted at the end of 2020, introduced common requirements for crowdfunding service providers in all Member States and will begin to apply as of 10 November this year. In the meantime, Member States were supposed to undertake legislative steps to exclude crowdfunding service providers from the scope of their internal laws transposing the MiFID II requirements and thus avoid a situation where the same activity would be subject to multiple authorizations within the Union (2). What is a crowdfunding service and a crowdfunding service provider as per the new EU regulation and what [...]

Russian notaries public deposit in international transactions

The CEE law firm PETERKA & PARTNERS was one of the first in Russia to provide legal support for the purchase and sale of shares, the payment for which was carried out in part through the transfer of funds from a Russian public deposit account of a notary to a bank account abroad of a foreign client. In this short article, we would like to share the practical experience of such payment mechanism and provide our comments, which might be valuable for those parties who are considering the involvement of Russian public notaries in payments. From June 1, 2018, notaries began [...]

The Super League – Super employment law problems?

The proposed new European Super League has resulted in commentary from football pundits, regulatory bodies, governments and even Prince William, the Duke of Cambridge. However, the question that everyone is really asking is what are the UK employment law implications? Whilst the new Super League faces a number of legal challenges, the potential problems that could arise with both their playing and coaching staff should not be underestimated. The players of any top-level football club form an important part of the club’s assets, not only in terms of on-pitch success, but also in terms of resale value and in links to [...]

Higher minimum wage for millions of Europeans

Good news for employees receiving minimum wage throughout Europe. The minimum wage will increase. The two largest political groups in Europe, the Christian Democrats and the Social Democrats, have reached an agreement on the matter. Over 24 million employees in 25 of the 27 EU Member States will start earning more within two years (2023). Learn about the details in this blog. How much? The new minimum wage must meet a double threshold. It must be at least 60% of the median salary of a country (which means that half of the salaries will be lower, and half will be higher). [...]

Russian corporate law news: New model charter to create a LLC

Is it the right time for your company to get rid of your paper Charter and make your life easier? The Order of the Ministry of Economic Development of Russia as of 01.08.2018 N 411 "On the approval of Model Charters, on the basis of which limited liability companies can operate" introduced the concept of Model Charters into Russian corporate law. The Order provides for the opportunity for an LLC to switch to a Model Charter. To start using one, the company needs to pass a corporate decision on having one and submit an application to the tax authority. Model Charters [...]

Go to Top