Kategorie: Politics Law Society

Rail cartel: Bundeskartellamt imposes fine running into millions of euros http://www.grprainer.com/en/legal-advice/antitrust-law.html Germany“s Federal Cartel Office, the Bundeskartellamt, has brought a close to the so-called „Schienenfall“ (rail case) and imposed a fine amounting to millions of euros on a rail company for illegal price-fixing agreements. GRP Rainer Lawyers and Tax Advisors in Cologne, Berlin, Bonn, Düsseldorf, Frankfurt, Hamburg, Munich, Stuttgart and London conclude: In what has been termed the „Schienenkartell“ (rail cartel) case, fines totalling around 100 million euros were imposed on eight companies as early as July 2013 after proceedings…

Trademark law: Community trade mark becomes European Union trade mark http://www.grprainer.com/en/legal-advice/intellectual-property-law-and-trademark-law/trademark-law.html The new regulation concerning European Union trade marks is set to come into force on March 23, 2016. What has hitherto been known as a Community trade mark will then become a European Union trade mark. GRP Rainer Lawyers and Tax Advisors in Cologne, Berlin, Bonn, Düsseldorf, Frankfurt, Hamburg, Munich, Stuttgart and London conclude: A distinction is made in trademark law (http://www.grprainer.com/en/legal-advice/intellectual-property-law-and-trademark-law/trademark-law.html) between affording a mark protection within a given national market or throughout the countries of the European…

Withdrawing from loans and reimbursement of early repayment penalty http://www.grprainer.com/en/legal-advice/banking-law.html It is still possible to withdraw from a loan even after it has been prematurely paid off. After successfully withdrawing from the loan, the consumer can reclaim his early repayment penalty. GRP Rainer Lawyers and Tax Advisors in Cologne, Berlin, Bonn, Düsseldorf, Frankfurt, Hamburg, Munich, Stuttgart and London conclude: If a loan is prematurely paid off with an early repayment penalty, this does not result in forfeiture of the right of withdrawal. That was the decision of the Oberlandesgricht Hamm…

Withdrawing from loans: OLG Köln bolsters consumer rights http://www.grprainer.com/en/legal-advice/banking-law.html In its ruling of November 6, 2015, the Oberlandesgericht Köln (Higher Regional Court of Cologne) once again strengthened consumer rights in cases involving withdrawal from a loan (Az.: 13 U 113/15). GRP Rainer Lawyers and Tax Advisors in Cologne, Berlin, Bonn, Düsseldorf, Frankfurt, Hamburg, Munich, Stuttgart and London conclude: In its judgment of November 6, the 13th Civil Division of the OLG Köln confirmed that even minor deviations from the standard instructions in a given case means that the bank or…

OLG Frankfurt: No forfeiture of right of withdrawal in cases involving consumer loans http://www.grprainer.com/en/legal-advice/banking-law.html According to a ruling of the OLG Frankfurt (Higher Regional Court of Frankfurt), the right to withdraw from a loan is not forfeited even after years have passed since the conclusion of the loan agreement (Az.: 23 U 24/15). GRP Rainer Lawyers and Tax Advisors in Cologne, Berlin, Bonn, Düsseldorf, Frankfurt, Hamburg, Munich, Stuttgart and London conclude: Banks frequently argue that the right of withdrawal has been forfeited in order to avoid withdrawal from a loan,…

Withdrawing from loans: Bundesrat favours longer transitional period for legacy contracts http://www.grprainer.com/en/legal-advice/banking-law.html The controversial plans to do away with what is termed the „ewiges Widerrufsrecht“ (perpetual right of withdrawal) in cases involving real estate loans have been met with criticism from political quarters. The Bundesrat (the upper house of the German parliament) considers the case for a longer transitional period to be justified. GRP Rainer Lawyers and Tax Advisors in Cologne, Berlin, Bonn, Düsseldorf, Frankfurt, Hamburg, Munich, Stuttgart and London conclude: The Bundestag has passed the Gesetz zur Umsetzung der…

BGH to rule on withdrawal from loans on April 5 http://www.grprainer.com/en/legal-advice/banking-law.html The issue of withdrawing from loans is to be addressed once again by the Bundesgerichtshof (BGH) [Germany“s Federal Court of Justice] on April 5 (XI ZR 478/15). A consumer had prematurely paid off and later withdrawn from his loan agreements. GRP Rainer Lawyers and Tax Advisors in Cologne, Berlin, Bonn, Düsseldorf, Frankfurt, Hamburg, Munich, Stuttgart and London conclude: On April 5, the BGH will be grappling with a lawsuit brought by a consumer who concluded a total of six…

Rules of intestate succession apply in the absence of a will http://www.grprainer.com/en/legal-advice/law-of-succession/last-will-and-testament.html Anybody who fails to prepare a will (http://www.grprainer.com/en/legal-advice/law-of-succession/last-will-and-testament.html)ought to be aware that the rules of intestate succession shall apply. These are not necessarily consistent with the testator“s wishes and may entail various other disadvantages. GRP Rainer Lawyers and Tax Advisors in Cologne, Berlin, Bonn, Düsseldorf, Frankfurt, Hamburg, Munich, Stuttgart and London conclude: Anybody who is giving thought to their own death desires above all else to make sure that the surviving spouse and – as the case may…

Withdraw from loans now: Right of withdrawal from legacy contracts to expire on June 21, 2016 http://www.grprainer.com/en/legal-advice/banking-law.html Anyone who is still considering withdrawing from a loan ought to act now. The German Bundestag has resolved to do away with the option to withdraw. Thus, withdrawal is only possible until June 21, 2016. GRP Rainer Lawyers and Tax Advisors in Cologne, Berlin, Bonn, Düsseldorf, Frankfurt, Hamburg, Munich, Stuttgart and London conclude: Many real estate loans that were concluded between 2002 and 2010 include flawed instructions concerning the right of withdrawal. As…

Scholz Holding GmbH: Deferred payment of interest http://www.grprainer.com/en/legal-advice/capital-markets-law.html Investors in Scholz Holding GmbH bonds will not receive an interest payment on March 8. The due payment has been deferred until May 31, 2016. GRP Rainer Lawyers and Tax Advisors in Cologne, Berlin, Bonn, Düsseldorf, Frankfurt, Hamburg, Munich, Stuttgart and London conclude: Investors in Scholz Holding GmbH bonds were initially supposed to be paid around 15.5 million euros in interest on March 8 by the financially stricken company. In consultation with the trustee, the interest payment has now been deferred until…