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The importance of getting MAC clauses right
A current US case concerning a Material Adverse Change (MAC) clause illustrates how important it is for M&A transactions to provide just the right contractual regulations for the period between ...
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- The importance of getting MAC clauses right
Are bitcoins electronic money as defined in the E Money Act?
We do live in the virtual age now: there is no way around the Internet. Almost all legal transactions we enter into in our everyday lives can be concluded in the digital world.A logical consequence of...
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- Are bitcoins electronic money as defined in the E Money Act?
Limited party status of neighbours in the notification procedure under trade regulation law
In its ruling of 12 September 2016, Ro 2015/04/0018, the Austrian Administrative Court (VwGH) held that – in deviation from its prior rulings – neighbours shall have limited party status in a noti...
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- Limited party status of neighbours in the notification procedure under trade regulation law
“Hard” or “soft” accounts warranty and its consequences for the liability of the seller of a company
When agreements for the purchase and sale of a company – so-called “share purchase agreements” (SPAs) – are being negotiated, the assurances as to specific qualities of the sold company given ...
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- “Hard” or “soft” accounts warranty and its consequences for the liability of the seller of a company
Subordinated loans as a vehicle of public participation and crowdfunding – the end is near?
The development of the Austrian capital markets over the last few years has shown that, besides established stock exchange-listed companies, more and more “small” issuers (start-ups, SMEs) have di...
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- Subordinated loans as a vehicle of public participation and crowdfunding – the end is near?
New transaction-value-based test entails uncertainties for merger control
As of 1 November 2017, Austrian merger control will require the passing of a new test, based on the transaction value, in addition to complying with the – unchanged – turnover thresholds already e...
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- New transaction-value-based test entails uncertainties for merger control
Cartel Act amendment will strengthen private enforcement
The main purpose of the 2017 Act Amending Antitrust and Competition Law (Kartell- und Wettbewerbsrechtsänderungsgesetz 2017) is to transpose the EU Damages Directive, and it is also intended to provi...
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- Cartel Act amendment will strengthen private enforcement
Online GTC / Validity of choice of law
In proceedings concerning a collective action brought by Verein für Konsumenteninformation (Association for consumer information, “the VKI”) versus Amazon EU S.à.r.l. (“Amazon”), the Court o...
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- Online GTC / Validity of choice of law
Mortgage and real-estate loans – new
The recent Austrian Mortgage and Real-Estate Loan Act (Hypothekar- und Immobilienkreditgesetz, HIKrG) provides a new legal basis for consumer credits which – broadly speaking – are securitised by ...
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- Mortgage and real-estate loans – new
Land transfer tax is becoming an expensive pitfall
The 2016 reform of Austrian land transfer tax (Grunderwerbsteuer, GrESt) not only resulted in an increase of the tax being caused by the alteration of the assessment base. It also provided for complet...
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- Land transfer tax is becoming an expensive pitfall
Instalment agreements – Potential risks for debt recovery agencies
Under the Austrian Consumer Loan Act (Verbraucherkreditgesetz, VKrG), businesses granting loans to consumers are required to comply with extensive(i) duties to provide pre-contractual information (e.g...
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- Instalment agreements – Potential risks for debt recovery agencies
No claim for compensation for brief illnesses of commercial agents
The Austrian Supreme Court recently decided that commercial agents are not entitled to claim compensation payments in the case of a termination of the contractual relationship due to merely temporary ...
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- No claim for compensation for brief illnesses of commercial agents
Flexibilization of working hours
Having agreed flexibilization of working hours under its government programme, the Austrian Federal Government instructed the social partners to find a solution to this issue by June 2017.Working-time...
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- Flexibilization of working hours
Equity investment and crowdfunding
Crowdfunding investment can take the form of debt investment or equity investment. Both types are alternative forms of business or project financing outside the traditional financial system. In a rece...
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- Equity investment and crowdfunding
Freedom of expression on the Internet
Discussions on the Internet can be very emotional and stormy; especially when it comes to topics such as politics, climate change or migration insulting posts seem inevitable. But also in case of user...
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- Freedom of expression on the Internet
Planned amendment to antitrust law helps cartel victims and increases risks attaching to infringements
End of August 2016 saw the start of the expert review of the bill for the amendment to antitrust law, a bill long awaited and hotly discussed during the preliminary stages. Implementing an EU Directiv...
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- Planned amendment to antitrust law helps cartel victims and increases risks attaching to infringements
New law to combat wage and social dumping
“Wage and social dumping” is the term used to describe situations where employers deprive employees of, at least a part of, the remuneration due to them under a law, ordinance or collective bargai...
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- New law to combat wage and social dumping
COVID-19 – bridging insolvency by way of government support
The COVID-19 pandemic is pushing many enterprises to the brink of insolvency. To mitigate the adverse economic effects and to prevent a flood of insolvencies, the Austrian government has taken multipl...
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- COVID-19 – bridging insolvency by way of government support
COVID-19: finance update - Deferment of loans for consumers and microenterprises
Owing to the COVID-19 pandemic, the liquidity of many borrowers is strained; the same holds true for consumers (for example in cases where the employment relationship has been terminated) and microent...
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- COVID-19: finance update - Deferment of loans for consumers and microenterprises
COVID-19: Finance update – 3rd, 4th and 5th COVID-19 Act
In the context of the COVID-19 pandemic, the Austrian Parliament adopted the 3rd, 4th and 5th COVID-19 Act on 3.4.2020. Some points from these laws are also of particular relevance for financing pract...
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- COVID-19: Finance update – 3rd, 4th and 5th COVID-19 Act