27 May 2015: Samardzic in cooperation with Specht & Partner has successfully advised and represented Danos Ltd – a Serbian rolling-stock trading company with long-standing prominence in the railway sector – as plaintiff, in a dispute for breach of a joint-sale contract against a Serbian rolling stock producer. The Commercial Court in Pozarevac, Serbia, acting in first instance, has ordered ...
Employers have a keen economic interest in ensuring that employees keep operational information confidential and spend work time completing necessary tasks efficiently and effectively. For this reason, employers have an inevitable need to monitor the work of their employees. At the same time, monitored employees also have a relevant need to protect their privacy and human dignity. These two opposing ...
22 April 2015: Samardzic in cooperation with Specht & Partner advised System Industrie Electronic Holding AG from Austria on its acquisition of a controlling share in Tagor Electronic, a closely-held manufacturer of electronic devices based in Niš, South-Eastern Serbia. Originally founded in 1994 in Lustenau, Austria, System Industrie Electronic Holding AG manages a ...
The Belgrade-based member of the Specht & Partner law firm has been listed again by Legal 500 in the practice areas Corporate Law, Mergers & Acquisitions and Privatization, as well as Real Estate and Construction. Dušan Rakitić, the managing partner of the Belgrade Office, has been recommended for the Corporate Law, M&A and Privatization practice area. In the Legal 500 2015 ...
The new Hungarian Civil Code (hereinafter: new CC) has defined the stipulations regarding who is allowed to extend guarantees – a form of collateral – under Hungarian Civil Law. According to the new rules, it is clear, that all legal entities – except consumers – may offer guarantees. The new CC also lists and amends the rules for offering guarantees. ...
At the end of January 2015, the Law “On Amendments to the Tax Code of Ukraine and Certain Legislative Acts of Ukraine on Tax Reform” entered into force and introduced significant tax reforms into Ukrainian legislation. The main points of the tax reform are briefly summarized below: The number of taxes has decreased from twenty-two to nine. Though, some taxes were ...
Amendments to Article 41 of the Law of Ukraine “On Joint Stock Companies” were adopted by the Parliament of Ukraine on January 13, 2015 and have been in force since January 30, 2015. The new law has changed rules specifying the make-up of a quorum of the general meeting of joint stock companies in Ukraine. The newly adopted changes state that ...
The new Hungarian Civil Code (hereinafter referred to as: “new CC”), effective since March 15, 2014, does not include the legal institution of “compensation for non-material damages” which previously was regulated under indemnification rules. At the same time “restitution” was introduced to sanction violations of personality rights. Restitution is applicable to violations committed after the new CC’s entry into force. Compensation ...
Have you considered how your limited liability company will fulfil the minimal equity capital of 3,000,000.- HUF (approx. 9640 €) obligation prescribed by the new Hungarian Civil Code? Are you currently completing your 2014 accounting records? In our most recent client alert, we cover how companies may be able to use profit-after-tax from the 2014 business year to cover the ...
Both the previous and the new Hungarian Civil Codes specifically define so-called “debt recovery cost allowance” regarding business-to-business contracts. In accordance with the provisions of the new Hungarian Civil Code, such contracts may not exclude recovery cost allowance and may not set the allowance at an amount lower than the legal limit. According to Paragraph (2) of Section 6:155. § ...