In Slovakia, the purposeful avoidance of insolvency and liquidation proceedings by failed companies (including VAT carrousel fraudsters) has developed into a common market standard.

The EU has always acknowledged the positive effects of foreign investments into member states and thus has one of the most open regimes in this regard. But in light of recent security issues in Western countries, the EU’s view on foreign investments has slightly changed, and out of concerns for both security and public order direct foreign investments could soon become subject to a so-called “screening mechanism,” in which they would be reviewed by the member state where the investment is planned, by the European Commission, and by other member states.

The old Czech Commercial Code, which dated from 1991, prescribed that one third of the supervisory board of joint-stock companies with more than 50 employees must be elected by the employees. This originally brief regulation became increasingly complex, and by the time the Commercial Code was repealed thirteen years later it included detailed instructions on the matter.

Cross-border reincorporations have long been of interest not only to legal scholars, but also to legal practitioners and entrepreneurs from various business fields.

Granting of stock options to employees is not new; it has been used for many decades around the world.

The Supreme Court of Lithuania has established a precedent that tightened rules on personal liability for directors of companies. 

Macedonia’s 2013 Law on Takeover of Joint Stock Companies provides a squeeze-out right enabling a majority shareholder who has acquired at least 95% of the shares of an eligible joint stock company on the basis of a takeover bid to require the minority shareholders to sell their securities at a fair consideration.

Investments can be used as tools to support and enhance a country’s economic structure. The Turkish government has developed some policies which, together, create an appropriate and advantageous investment environment for international and domestic investors.

Turkey’s Data Protection Law, which was published in the country’s Official Gazette on April 7, 2016, established the legal framework for the protection of personal data in Turkey and added new obligations for employers.

The Law on Labor Courts Number 7036 was published and announced in the Official Gazette on October 25, 2017. One of the most important amendments stipulated in this law (the “Law”) is the introduction of a “mandatory mediation” procedure. Mediation is based on a “win-win” philosophy; this is a process where no one loses. 

On November 9, 2017, the editors of CEE Legal Matters sat down with a cross-section of experts from leading law firms and prominent in-house legal departments in Turkey to learn about the current state of affairs in that ever-changing market.

The past couple of years have been particularly challenging for Turkey’s M&A market owing to the domestic and global political climate and the weakened state of the Turkish economy. According to Deloitte’s annual M&A review published earlier this year, the M&A market in 2016 witnessed a total deal volume of USD 7.7 billion through 248 deals, resulting in the lowest deal volume since 2009. 

In The Corner Office, we invite Managing Partners at law firms from across the region to share information about their careers, management styles, and strategies. Our question this time: “What mistake do young associates commonly make that is most frustrating for you?”

From Alan Ladd’s Shane to Clint Eastwood’s Man with No Name, from Julie Andrews’ Mary Poppins to Gal Gadot’s Wonder Woman, and from Michael Rennie’s Klaatu to Chris Pratt’s Peter Quill, the phenomenon of help coming from far away is a familiar one. A similar dynamic can be found in CEE’s legal market.

The global flow of foreign direct investment amounted to USD 1.75 trillion in 2016, and the number of FDI projects in Europe increased by 15 percent from the previous year. It appears that the perception of Central and Eastern Europe by international investors is improving as well, as CEE received 23 percent of all FDI projects announced in Europe and 52 percent of all new jobs. According to one widely-reported survey, investors ranked CEE as the world’s third most attractive region, behind only Western Europe and the United States. 

Just recently, Radu and I brought two staff writers on board – our first, after four years in business. Their names don’t appear in this issue, but you will start seeing them, we hope, pop up frequently in future issues. In the meantime, their bylines have already started appearing on the CEE Legal Matters website.

The traditional methods of tax audits and tax litigation in Hungary will soon be a matter of the past, as three new codes have recently been adopted by Parliament and will come into force on January 1, 2018. Naturally, they are a hot topic in the industry.  

The last decade of the previous millennium set the Republic of Macedonia on a new course, with EU & NATO integration a number one priority for the country in the Western Balkans. This new course meant that reforms in almost all areas of state management were inevitable.