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The European Commission has just published its comprehensive proposal for the so-called "New Deal for Consumers", which aims to strengthen EU consumer rights and enforcement. This includes the proposal for a new Directive enabling certain qualified entities to seek redress on behalf of consumers who have been harmed by an unlawful commercial practice.

One might be surprised to read that data protection rules might also impact the competitive assessment of a concentration within merger control proceedings. Nonetheless, the clash of these two universes can be increasingly seen with respect to mergers pertaining to the digital sector.

As of April 2018, California will allow fully autonomous cars to be tested without safety drivers on public roads. One interesting question in this context is whom to blame for damages caused by artificial intelligence or machine learning systems? We took a look at this under Austrian law:

Reading newspapers in Austria these days one could get the impression that we are in the middle of a financial crisis. Each week another Austrian company seems to be in financial difficulties – or worse – filing for insolvency. But when taking a closer look at the individual insolvency proceedings, things are not as bleak as they seem.   

The corporate functioning rules for joint stock companies have been repeatedly altered by Romanian legislation, especially in relation to the governing structures of companies, such as shareholders' assemblies and management bodies.

Periodically Schoenherr will keep the crypto-community up-to-date with dedicated newsletters focusing on issues relating to initial coin offering (ICOs), initial token offerings (ITO) and Blockchain.

As the host of the world’s 17th largest economy and 19th largest population, Turkey’s energy needs are significant – and growing. The country’s energy demand is expected to grow about 5% each year for the immediate future, and the Turkish government has announced its plans to increase the share of renewable sources in the country’s total installed power to 30% by 2023. 

Former DLA Piper Finance Partner Denise Hamer has joined Trace Capital Advisors — a principal investment, asset management, corporate finance, and restructuring boutique focused on performing and non-performing assets in Central and Eastern Europe and Southeastern Europe.

Venture capital investments in Bulgarian start-ups are on the rise, and modern legal structures such as share option plans and convertible notes can, if local law peculiarities are taken into account, be applied in the country.

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.

After a long year of waiting, law firms from Hungary finally had the opportunity to show off their bowling skills again last night, as the second year of the CEE Legal Matters Budapest Law Firm Bowling Challenge brought 14 four-person teams together for an intense challenge, with the proceeds donated to the winning team's charity of choice.

Keeping track with the( hundreds of) changes to the Romanian tax legislation has never been an easy endeavor. This year things have been taken to a whole new level, as fiscal predictability, scarce as it was before, has disappeared entirely.

The Deal:  In July 2017, CEE Legal Matters reported that Romania’s Leroy si Asociatii law firm had advised France’s Lactalis group on its acquisition of Romania’s Covalact S.A. dairy producer from the SigmaBleyzer private equity firm, with Schoenherr advising SigmaBleyzer on the deal.

Schoenherr at a Glance

Schoenherr is a leading full-service law firm providing local and international companies stellar advice that is straight to the point. With 15 offices and 4 country desks Schoenherr has a firm footprint in Central and Eastern Europe. Our lawyers are recognised leaders in their specialised areas and have a track record of getting deals done with a can-do, solution-oriented approach. Quality, flexibility, innovation and practical problem-solving in complex commercial mandates are at the core of our philosophy.

Firm's website: www.schoenherr.eu