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International Edition

Hogan boosts Berlin tax with Hammonds hire

Hogan & Hartson has bolstered its tax practice with the hire of Jens-Uwe Hinder to its Berlin office. Hinder joins Hogan as a partner from Hammonds, where he headed up the local tax practice. Hinder has experience advising on the structuring of real estate transactions, M&A, tax structuring of funds and settlement prices.
1 minute read

International Edition

OC recruits local partner for Cologne office

Osborne Clarke (OC) has hired an employment partner in its Cologne arm. Anke Freckmann, who was a partner at regional German law firm Melchers, brings OC's employment law practice to 50 lawyers across the UK and Germany, including 12 partners.
1 minute read

International Edition

Central and Eastern Europe: A universal code

Austria's new commercial code, Unternehmensgesetzbuch (UGB), came into force as of 1 January this year. It is the codified legal framework applicable to all entrepreneurs and businesses in Austria. In particular, it contains all relevant regulations on the establishment and transfer of businesses, firms, private (limited) partnerships, silent partnerships and the Austrian General Accepted Accounting Principles. The code is still, however, largely based on the Handelsgesetzbuch (HGB), but in its modernisation some very important legal areas have been replaced, amended or even abolished.
6 minute read

International Edition

Central and Eastern Europe: Russian dues

Legal due diligence, a crucial part of the M&A process, is a relatively new tool in Russia. Nevertheless, it has become a compulsory stage in most major M&A transactions involving Russian companies. Generally, extensive legal due diligence in Russia takes place in complex deals involving sophisticated parties, wherein the underlying deal documents are governed by foreign law (typically, English or US). Because Russian law does not regulate legal due diligence, the process usually adheres to unwritten rules adopted from Western business and legal practice.
8 minute read

International Edition

Central and Eastern Europe: Making the first move

Just two years ago, Hungary, Poland, the Czech and Slovak Republics and Slovenia all implemented the European Union's (EU's) financial services regime, as it was then, as part of their accession. But in the same year, 2004, the EU set in train MiFID (the Markets in Financial Instruments Directive), a wide-ranging reform of the financial services sector, which all member states are required to implement by 1 November, 2007. With Bulgaria and Romania having joined the EU since then, what will be the impact on the Central and Eastern Europe (CEE) countries and what will they do to implement MiFID?
7 minute read

International Edition

Central and Eastern Europe: The English client

There is arguably a tendency among those of us who maintain cross-border practices to focus on substantive legislation and perhaps even to make the implicit assumption that attendant procedural niceties will resolve themselves in one jurisdiction in pretty much the same manner as another.
7 minute read

International Edition

Central and Eastern Europe: Quality Czechs

In the last two years the legal services market in the Czech Republic has experienced a dynamic burst (after the downsizing of some international firms during 2000-02). Currently, the fortunes of law firms are changing significantly, as strong competition in the legal services market and certain material shifts become evident.
5 minute read

International Edition

Central and Eastern Europe: Standing tall

Romania has recently seen a surge in the number of cases brought against it by foreign investors, acting under bilateral investment treaties (BITs) - as has been the case in many of the neighbouring Central and Eastern European countries. Several disputes ended spectacularly, with multi-million euro awards against the host state of the investment, such as the case between CME and the Czech Republic, which has been ordered to pay approximately $350m (£176m) or, more recently, another case lost by the Czech Republic, which will have to pay damages of E225.4m (£17.3m) to a company based in the Netherlands.
9 minute read

International Edition

EU: Collective action

Thanks to a vote on 27 March, on a report on the European Commission's (EC's) Green Paper on damages actions for breach of the EC antitrust rules, the European Parliament (EP) has taken a new step towards facilitating private damages actions for breach of EC antitrust rules.
5 minute read

International Edition

Ashurst Germany takes on Siemens' Englisch

Ashurst has strengthened its German corporate practice with the hire of senior Siemens in-house lawyer Lutz Englisch as a partner. Englisch, who joins the firm's Munich office on 1 May, spent more than 15 years with the German tech giant, where he headed the corporate legal team.
1 minute read

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