COVID-19: Current regulations restricting profit distributions

Political discussions have recently focused on limiting distributions of profits. Such calls have focused in particular on companies who receive state aid during the COVID-19 crisis. Not all legal initiatives have been implemented. The following article provides an overview of the current situation regarding the possibility of distributing net profits as well as other limitations. […]

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COVID-19: Decision-making under company law – what can be done remotely? (Part 4)

Further simplifications for shareholders’ and board meetings In our articles of 24 March and 6 April 2020, we reported on legal simplifications relating to holding meetings for shareholders and members of corporate bodies due to the Austrian COVID-19 Company Law Act (COVID-19-GesG): 1. Remote participation and resolutions passed in alternative ways Shareholder meetings (such as […]

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EASA publishes first rules for safe drone operations in Europe’s cities

Introduction The EASA has published its new Opinion No 01/2020 “High-level regulatory framework for the U-space”, which was developed in accordance with Regulation (EU) 2018/11391 (“Basic Regulation”). As the rising number of UAS operations in the European airspace poses safety, security and airspace integration issues, it is essential to prevent risks to air traffic, persons […]

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COVID-19: An obstacle for distributing dividends?

The effects of the implemented measures to prevent the spreading of the Corona Virus (known as COVID-19) have started to kick in, albeit not only in a positive way: Most businesses face perilous financial strains, even though the balance sheet of the previous financial year possibly shows a huge profit. This is caused by the […]

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Borrower protection in times of COVID-19

The restriction of public life and economic activity to combat COVID-19 is increasingly impacting borrowers, mainly due to the fact that many borrowers generally repay their financial obligations from current or earned income. As the economy is confronted with widespread to complete loss of revenue however, individuals are now being faced with the loss of […]

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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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