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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Authors: MMag. Verena Heffermann; Dr. Isabella Lechner. 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 […]
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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 […]
read moreAutoren: Dr. Dominik Kurzmann; Dr. Lukas Röper; Matthias Konrad, LL.M. 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 […]
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Authors: Dr. Dominik Kurzmann; Mag. Victoria Fischl 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 […]
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Authors: Dr. Silvia Wandl; Dr. Matthias Trummer MSc; Mag. Katharina Seethaler, LL.M. With the Stock Corporation Amendment Act 2019, Federal Law Gazette I No. 63/2019 of 23 July 2019 (AktRÄG 2019), the corporate law provisions of the 2nd Shareholders’ Rights Directive (2nd SRD) were implemented into Austrian law. The provisions attributable to the financial services […]
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Authors: Dr. Matthias Trummer MSc, Dr. Krzysztof Nowak, LL.M.; Mag. Katharina Seethaler, LL.M. “Creating value beyond the deal M&A report” by PwC in collaboration with Mergermarket and Cass Business School combines global insights from a survey of over 600 global corporate executives, revealing how dealmakers effectively create significant value via M&A and generate maximum returns. […]
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Autorinnen: Mag. Daniela Steiner, Mag. Sofya Usmanova A multidisciplinary and international team assembled from the PwC/PwC Legal network provided Smyths Toys Superstores (“Smyths Toys”) based in Galway (Ireland) with comprehensive advice on the acquisition of Toys “R” Us operations in Germany, Austria and Switzerland (“Target Companies”). PwC Legal (with teams from Germany, Austria & Switzerland) […]
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Co-authors: Dr. Lukas Röper; Mag. Philipp Tagwerker, M.A.; Mag. Michael Fischer At a glance: A new designation of securitisations as simple, transparent, standardised (“STS”) shall give assurance to investors that sufficient information on the underlying exposures is provided. A register with the European Securities and Markets Authority (ESMA) will be set up, in which securitisations […]
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The UBO Register Act (WiEReG), announced on 15 September 2017, imposes a registration obligation on Austrian corporate entities and other legal entities regarding their ultimate beneficial owners. As of 15 January 2018, all direct or indirect owners holding more than 25 % of the share capital have to be disclosed in the new register maintained […]
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