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Distributing FFP2 masks free of charge in breach of competition law

Distributing FFP2 masks free of charge in breach of competition law

Published: 26 Feb 2021

Groups deemed to be at risk can redeem vouchers for FFP2 masks. Pharmacies that waive the two-euro personal contribution are violating competition law according to a ruling of the Landgericht (LG) Düsseldorf – the Regional Court of Düsseldorf. In order to protect those at particular risk against being infected with the coronavirus, the German parliament has adopted legislation (Coronavir...

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German Reform of Insolvency Law Enters Into Force: Shortened Discharge of Residual Debt and Introduction of New Reorganization Options, Especially for Corona "Victims"

German Reform of Insolvency Law Enters Into Force: Shortened Discharge of Residual Debt and Introduction of New Reorganization Options, Especially for Corona "Victims"

Published: 25 Feb 2021

At the turn of the year, two important laws reforming insolvency law in Germany came into force. The Act on the Further Shortening of Residual Debt Relief Proceedings came into force with retroactive effect (!) from 01.10.2020, while the Act on the Further Development of Restructuring and Insolvency Law came into force on 01.01.2021. The Act on the Further Shortening of the Residual Debt Relief Pr...

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Leading Signs You May Be at Risk for an Oil and Gas Ponzi Scheme

Leading Signs You May Be at Risk for an Oil and Gas Ponzi Scheme

Published: 25 Feb 2021

It’s been more than a century since Spindletop ushered in the great wave of petroleum exploration in the United States, but oil and gas extraction remains a tricky investment for even the most savvy of dealmakers. It’s not surprising that the promise of “black gold” has also attracted hucksters and charlatans, with numerous regulatory actions and indictments in the past few years relating to oil a...

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New Transparency Rules in Switzerland – Abolition of Bearer Shares

New Transparency Rules in Switzerland – Abolition of Bearer Shares

Published: 19 Feb 2021

In November 2019 the new transparency rules for Swiss bearer shares came into force as the Swiss Federal Assembly adopted the Federal Act, implementing the recommendations of the Global Forum on Transparency and Exchange of Information for Tax Purposes. What does this mean? With the exception of publicly limited companies and bearer shares issued in the form of intermediated securities, bearer sh...

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Fintech Problems: In Which Region and Country Can One Obtain a License?

Fintech Problems: In Which Region and Country Can One Obtain a License?

Published: 19 Feb 2021

A question most frequently asked by Fintech segment clients is “In which region and country can one obtain a license?” To answer this question, one will find it useful to look into 2020 statistics in terms of the most Fintech friendly countries and their regulators. The number of licenses issued last year is the essential criterion in this case. So, the British were the most prolific in 2020: a to...

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BGH: D&O Insurer Liable for Payments Made After the Onset of Insolvency

BGH: D&O Insurer Liable for Payments Made After the Onset of Insolvency

Published: 17 Feb 2021

The insurer behind a D&O policy is liable for payments made after the onset of insolvency. That was the verdict of the Bundesgerichtshof (BGH) – Germany’s Federal Supreme Court – in a judgment from November 18, 2020 (Az.: IV ZR 217/19). A managing director is personally liable for any payments they arrange after the company is already insolvent, with the insolvency administrator able to reclai...

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Freelance Business in Cyprus

Freelance Business in Cyprus

Published: 16 Feb 2021

Introduction A freelance business is typically owned and operated by one individual. Freelance business offers a great deal of freedom, as the business owner is not accountable to partners and does not need to share any profits. Freelance business V Limited company A freelance business can do everything a limited company can do; employ staff; sign contract; enter into loans with banks, register fo...

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Cyprus – Probably One of the Best Destinations for Intellectual Property Assets

Cyprus – Probably One of the Best Destinations for Intellectual Property Assets

Published: 16 Feb 2021

The Cyprus IP regime Cyprus is an attractive location for the establishment of an IP holding and development company, offering an efficient tax rate as well as the legal protection afforded by EU Member States and by the signatories of all major IP treaties and protocols. Background Cyprus IP regime is fully compliant with international developments in the tax treatment of IP income and the OECD’...

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