IBOR reform – 2020 more relevant than ever

At a glance The reform of the Interbank Offered Rates (IBOR) has its origin in the financial crisis. The year 2020 is not only a key year in the implementation of the reform, but also makes the issue more topical than ever in view of the situation surrounding the coronavirus (Covid-19), the long-term consequences of […]

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Covid-19: Bridging loans and Guarantees

The coronavirus has Austria firmly in its grip. The further spread of COVID-19 can have grave effects on the business and subsequently on the liquidity of domestic companies, confronting them with previously unimagined financial and liquidity challenges, which may threaten their existence. Currently, an obligation of the banks to grant a deferment in connection with […]

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Covid-19: Effects on Energy Policies?

Climate and Energy package In 2007, the EU heads of state and governmental bodies set the core objectives of the 2020 climate and energy package. Two years later, comprehensive legislation was introduced, to implement these targets which were adopted to ensure that the EU meets its climate and energy goals by 2020. The EU’s 2020 […]

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Reps & Warranties Insurances

Reps & warranties insurances can simplify, accelerate and increase the value of M&A transactions. These insurances are able to help resolve or soften conflicts of interest between buyers and sellers. To facilitate a smooth process of taking up a reps & warranties insurance coverage, the involvement of an insurance broker should take place as early […]

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Drones Law: EASA published Opinion on Standard Scenarios

Introduction The EASA recently published “Opinion 05/2019”. This opinion is proposing amendments to the two new European Drone Rules (EU) 2019/947 and (EU) 2019/945. The objective of this Opinion is to provide cost-efficient rules for low risk UAS in the “specific” category for drone operators, manufacturers and competent authorities as well as the improvement of […]

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Drones Law: Drone operations in the CERTIFIED category (part IV)

Introduction According to the Implementing Regulation 2019/947/EU drone operations in the “certified” category are the riskiest. This is not surprising, as this class is intended for big unmanned aerial systems (UAS; 3 m and more) and, among other operations, for the transport of people. Neither the Implementing Regulation nor the Delegated Regulation contain specific rules […]

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Drones Law: The “SPECIFIC” category of drone operations (part III)

Introduction In part II of our blog series we wrote about the “open” category of unmanned aircraft system (UAS) operations.  According to the EUs Implementing Regulation, this category is the most riskless. Nevertheless, there are a lot of new standards and requirements set by the EU legislative acts drone operators as well as regulatory authorities […]

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Throwback: Book launch “New Suits. Appetite For Disruption in the Legal World”

On 11 September 2019, PwC Legal invited for the book launch of “New Suits. Appetite For Disruption in the Legal World” co-edited by Michele DeStefano (Professor of Law at the University of Miami) and Guenther Dobrauz (Managing Partner of PwC Legal Switzerland) and published by Staempfli Verlag. More than 70 participants attended this premiere in […]

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Drones Law: “OPEN” category of UAS operations – Lower Risk, lower requirements? (part II)

In the future, UAS will be operated in three different categories. The risk level criteria as well as other criteria are used to establish these three categories of operations (see Blog All new? – The European Union (EU) regulations on drones (part I)). According to recital 8 of the Implementing Regulation, the UAS operation in […]

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Drones Law: All new? – The European Union (EU) regulations on drones (part I)

Unmanned aircraft, commonly called drones, have huge potential for the development of innovative and practical applications in a wide range of business areas. They will contribute to creating new businesses and jobs and will further develop existing industries and business sectors. Besides the huge advantages in the business world, drones developed to be a popular […]

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