COVID-19 Legal Update: rules governing general meetings and shareholders’ meetings, annual accounts, and notarial deeds

6 April 2020

The current situation raises many questions in connection with the holding of planned general or shareholders’ meetings, supervisory board meetings, the filing of annual accounts or the establishment of notarial deeds. The COVID Act on Corporate Law (Federal Law Gazette I No. 16/2020) has already made some necessary adjustments to the current situation. With the 4th COVID 19 Act (Federal Law Gazette I No. 23/2020), further simplifications with regard to meetings, annual accounts and notarial acts come into force, the majority of which are aimed at reducing personal contacts to the necessary minimum.

COVID-19 Legal Update: Effects on contractual relations and short-term need for action

1 April 2020

The coronavirus poses great challenges for companies. Increasingly, entrepreneurs will no longer be able to fulfil their contracts (on time). The following is an overview of the legal consequences of the problems involved in the provision of services.

COVID-19 Legal Update: BaFin publishes FAQ on ad hoc disclosure obligations of listed companies

26 March 2020

The German BaFin (Federal Financial Supervisory Authority) publishes FAQ on ad hoc disclosure obligations for inside information (Art 17 MAR) on consequences of the COVID-19 pandemic. The FAQs may also give a guidance for issuers in Austria. For ad hoc disclose obligations see also the overview COVID-19 Legal Update: Ad hoc disclosure obligations of listed companies. 

COVID-19 Tax Update: 2nd COVID-19 Act: Extensions of deadlines and stamp duty exemptions

25 March 2020

As already discussed in the COVID-19 Tax Update of 20.03.2020 bsed on information of the Austrian Ministry of Finance, various tax deadlines were extended by the 2nd COVID-19 Act published in the Federal Law Gazette on 21 March 2020 and a stamp duty exemption for documents and official acts in connection with the corona support measures has been established.

COVID-19 Legal Update: Merger Control in Austria – Impact on Notifications

25 March 2020

On 22 March 2020, the Second COVID-19 Act, a sweeping emergency law that extends deadlines across-the-board in the government, came into force in Austria. The new COVID-19 legislation in Austria will have an impact on merger filings, deadlines and with the proceedings at the Cartel Court (Kartellgericht). Furthermore, the competition authority (Bundeswettbewerbsbehörde, BWB) announced essential changes with regard to its business proceedings.

COVID-19 Legal Update: Principles of lawful data processing in Coronavirus times – Collection and transfer of health data.

23 March 2020

Our expert for data protection Sonja Dürager has answered various questions about the data legal aspects in the COVID-19 situation.

COVID-19 Legal Update: Building contracts – Allocation of risk according to Austrian Standard ÖNORM B2110

23 March 2020

Many construction companies have – as a consequence of legal measures to contain COVID‑19 – suspended construction site operations until further notice. As a practical rule, Austrian Standard ÖNORM B 2110 is regularly agreed for construction contracts.

COVID-19 Legal Update: State aid aspects

23 March 2020

In oder to enable the Member States the compensation of the economic impact of the corona crises, the European Commission has adopted a temporary framework which relaxes State aid rules. Our partner Christian F. Schneider gives an overview of the aid oppertunities resulting therefrom.

COVID-19 Legal Update: Shareholder Meetings – Corporate COVID 19 Act entered into force

23 March 2020

The current situation raises many questions in connection with the holding of shareholders’ meetings, in particular whether and under what circumstances meetings may be held.

COVID-19 Legal Update: Changes in Insolvency Law

23 March 2020

With the 2nd COVID-19 Act passed on 20.03.2020, the National Council amended the rather unknown provision of Section 69 (2a) IO to include the phrase “epidemic, pandemic”. This means that even in the event of an epidemic or pandemic, as is currently the case, the period for filing for insolvency proceedings is now 120 days.