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Managing Director Liability - Contracts Shortening the Statute of Limitations inadmissible
• White-Collar Crime
According to the law, claims for compensation by the GmbH against "its" managing directors become time-barred within five years. In practice, however, shorter limitation periods are often agreed. This is to encourage managing directors to make entrepreneurial decisions by not leaving them in the dark for too long with regard to possible liability. According to a recent decision of the Austrian Supreme Court, however, such reductions are invalid.
Brandl Talos and SMP advise S.I.E. AG on the acquisition of a majority stake of EMGR GmbH
Press relase • Corporate Law & Transactions
Vienna, 18 December 2020 - System Industrie Electronic Holding AG acquires 70.1% of Elektromotorenwerk Grünhain GmbH, a developer and manufacturer of actuators and actuator components for a wide range of industrial applications.
New challenges: E-sports as sport or as gimmick?
Article • Gaming & Entertainment
E-sports, i.e. competitive video and computer games, have long ceased to be a marginal phenomenon in Austria. Nevertheless, e-sports are still in a legal gray area. But the wait for clear legal regulations may be over: The Sports Committee in the National Council has taken on the task of creating a legal framework for e-sports.
BörseG 2018/MAR - the flagship of Austrian literature on the new Stock Exchange Act (GER)
Book • Capital Markets
The new Manz commentary "BörseG 2018/MAR" is the flagship of Austrian literature on the new Stock Exchange Act and the Market Abuse Regulation. In it, Christopher Schrank and Alexander Stücklberger comment on the judicial criminal regulations for insider trading and market manipulation, which are particularly important for practice, as well as the special regulations regarding criminal proceedings.
WiEReG compliance package simplifies KYC processes
Article • Compliance & Internal Investigations
As of November 10, 2020, the legislative changes surrounding the WiEReG compliance package will come into effect. Companies will then be able to submit their KYC documents to the register of beneficial owners.
Advising on the acquisition of Burger King in Scandinavia
Article • Corporate Law & Transactions
Vienna, October 28, 2020 - "Ring" International Holding AG ("Ring") acquires Burger King's franchise business in Norway, Sweden and Denmark from Umoe Restaurant AS.
Brandl & Talos advises shareholders on the sale of Themis to Merck Sharp Dohme
• Corporate Law & Transactions
Vienna, May 27, 2020 - With this acquisition, Merck Sharp Dohme (MSD) secures, among others, the COVID-19 vaccine developed by Austrian company Themis, which will be combined with an MSD vaccine platform to contribute to the global fight against coronavirus.