need2know

Limited liability company as holding company: Austrian Supreme Court on the limits of the shareholder’s information claim regarding participations

18 January 2021

When drafting participation, syndicate or investment agreements, the information and inspection rights for shareholders must be regulated carefully.

More relevant than ever again from tomorrow: Theses of the judgement to the rent reduction because of COVID-19 for commercial real estate

16 November 2020

As a result of the initial restrictions, including officially decreed business closures from March this year, the question arose for a large number of tenants and landlords as to whether tenants who were no longer able to carry out their business operations due to the lockdown were still obliged to pay rent.

The new Austrian Investment Control Act

14 August 2020

Direct investments from third countries are increasingly viewed critically. Politicallythe “sell-out” of technology is feared. On 25 July 2020, the Federal Act on the Control of Foreign Direct Investments (“Investment Control Act – ICA”) came into force.

ECJ ruling on data transfer to the USA

20 July 2020

As is well known, data may only be transferred to the USA if the requirements of Chapter V of the GDPR are fulfilled, thus essentially ensuring that the data enjoy the same fundamental protection afforded at European level.

Guide on Remuneration Policy – Say-on-Pay on Executive Remuneration in Austria

28 May 2020

Say-on-pay put a spotlight on executive remuneration of listed companies. The Guide shall support the members of the supervisory board and the members of a remuneration committee to comply with their duties imposed upon them.

COVID-19 Legal Update: Court proceedings via video conference

25 May 2020

According to the previous “Corona legal situation”, oral hearings were only to be held if, after careful consideration of all circumstances, the continuation of the proceedings appeared to be urgently necessary and the public interest in preventing the dissemination of COVID-19 did not prevail. Furthermore, restrictions apply to the operation of the court. In order to avoid a backlog of negotiations, the possibility of holding hearings via video conference has now been established:

COVID-19 Legal Update: Virtual Supervisory Board, Shareholder and General Meetings

20 April 2020

The COVID Company Law Act and its implementing regulation (“COVID-19-GesV”) bring long-awaited simplifications, in particular for virtual assemblies of stock corporations and limited liability companies and their corporate bodies.

COVID-19 Legal Update: Förderrichtlinien des Corona Hilfs-Fonds

16 April 2020

Am 08.04.2020 wurde aufgrund des § 3b Abs. 3 des ABBAG-Gesetzes, BGBl. I Nr. 51/2014, zuletzt geändert durch das 3. COVID-19-Gesetz, BGBl. I Nr. 23/2020, die Verordnung des Bundesministers für Finanzen betreffend Richtlinien über die Ergreifung von finanziellen Maßnahmen, die zur Erhaltung der Zahlungsfähigkeit und zur Überbrückung von Liquiditätsschwierigkeiten von Unternehmen im Zusammenhang mit der Ausbreitung des Erregers SARS-CoV-2 und den dadurch verursachten wirtschaftlichen Auswirkungen geboten sind („Corona Hilfs-Fonds VO“), kundgemacht (BGBl. II Nr. 143/2020).

COVID-19 Legal Update: Effects on litigation proceedings

15 April 2020

In legal proceedings, all procedural time limits whose triggering events occurred after 22 March 2020 or had not yet expired by that date are currently suspended. The time limits will begin to run anew on 1 May 2020.

COVID-19 Legal Update: Heimarbeitsplätze als Datensicherheitsrisiko in der Corona-Krise – Wie ist vorzusorgen und was ist im Ernstfall zu tun?

14 April 2020

Telearbeit oder auf Neudeutsch Home Office sind mittlerweile zu Buzzwords der Corona-Krise geworden. Unter Telearbeit versteht man im Allgemeinen Tätigkeiten, die räumlich entfernt vom Standort des Arbeitgebers durchgeführt werden und deren Erledigung durch eine kommunikationstechnische Anbindung an die IT des Arbeitgebers unterstützt wird.

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