Kategorie: Politics Law Society

Avoiding imminent threat of bankruptcy thanks to new corporate restructuring legislation Germany“s Corporate Stabilization and Restructuring Act (StaRUG), which came into force at the beginning of 2021, makes it easier for ailing companies to reorganize without having to go through bankruptcy. Many companies have been hit hard by the effects of the coronavirus pandemic, interrupted supply chains, and rising energy prices, with some being forced to question the ongoing economic viability of their businesses. By passing the Stabilization and Restructuring Act, we at the commercial law firm MTR Rechtsanwälte can…

Protecting the business and personal assets of private clients Personal and business assets require special protection. Aspects of, among other things, inheritance and family law come into play here. The impact of family disputes can extend to businesses and their assets, particularly in cases involving the self-employed, entrepreneurs, and tradesmen. Disputes over inheritance, divorce, and separation can become a problem for one“s business or practice. Our team of experts at the commercial law firm MTR Rechtsanwälte is well versed in inheritance and family law, and we are able to put…

Mobility Directive expected to facilitate reorganization of companies across borders within the EU The EU“s so-called „Mobility Directive“ creates a European legal framework for transnational reorganizations of companies, including those involving cross-border conversions, mergers, and divisions. With the Mobility Directive having entered into force on January 1 of 2020 and the deadline for its transposition into national law set at January 31, 2023, we at the commercial law firm MTR Rechtsanwälte can report that company law is becoming more European. Germany“s Federal Ministry of Justice (BMJ) has now submitted a…

License agreements regulating rights to use software Whether at home or at the office, many people encounter IT law in their daily lives, with one common point of contact being the use of software and the licenses required to this end. Anyone who wants to use their computer needs the appropriate software for their requirements. However, they must first of all acquire the rights to use said software. We at the commercial law firm MTR Rechtsanwälte note that those who decide to use software without first obtaining any necessary licenses…

Commercial agent“s claim for compensatory adjustment If a commercial agency agreement is terminated, the commercial agent is normally entitled to compensatory adjustment. But certain conditions must be met if the claim is to be successful. Section 89(b) of the German Commercial Code (HGB) stipulates that the commercial agent is entitled to demand a reasonable indemnity after termination of the agency agreement. We at the commercial law firm MTR Rechtsanwälte note, however, that this is conditional on the principal continuing to derive substantial benefits from business relations with new clients that…

Court finds warning letter a prerequisite for summarily terminating a commercial lease agreement A warning letter must have been issued prior to summarily terminating a lease agreement for commercial premises on account of defects. That was the verdict of the Higher Regional Court of Brandenburg, the Oberlandesgericht (OLG) Brandenburg (case ref.: 3 U 82/19). Open-ended commercial lease agreements can be terminated by giving due notice. If the parties do not specify a notice period in the agreement, the statutory notice period of 6 months applies in accordance with Section 580(a)…

Data theft – Company to pay compensation for breaching GDPR In the aftermath of a data leak, German digital asset manager Scalable Capital has been ordered by the Munich I Regional Court – the Landgericht (LG) München I – to pay compensation for breaching the General Data Protection Regulation (GDPR). Customers are entitled to expect that the high level of trust they place in those whom they entrust with their data is accompanied by high standards of data protection, particularly when it comes to personal data. We at the commercial…

Karlsruhe court upholds premature dismissal of supervisory board member for good cause If it becomes unreasonable for a supervisory board and one of its members to continue their association due to the latter“s conduct, premature dismissal may be considered. That was the verdict of the Higher Regional Court of Karlsruhe – the Oberlandesgericht (OLG) Karlsruhe – in a recent ruling (case ref.: 1 W 85/21). Members of a supervisory board can be prematurely removed from their positions for good cause. While the German legislature has not specified what constitutes good…