News

Oppenhoff advises world's largest cable manufacturer Prysmian on sustainability-linked loan of €1.2 billion

Oppenhoff has advised the world's leading cable manufacturer Prysmian S.p.A. on its first sustainability-linked loan in the amount of €1.2 billion. The loan was provided by a consortium of Italian and international banks.

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InsuranceCompliance / Corporate Insurance01.08.2022 Newsletter

Düsseldorf Regional Court on unfair e-mail advertising of broker services

The Düsseldorf Regional Court has ruled that, under certain circumstances, an insurance broker must accept being attributed with the unfair conduct of an advertising agency commissioned by him (judgement of 16 June 2021, 12 O 10/21).

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BGH: invalidity of a gift if the giver can be easily influenced or shows a weakness of will

In cases in which the claimant names concrete indications to the effect that he may have been legally incapacitated when making a gift, an expert opinion definitely has to be obtained by the adjudicating court. The German Federal Court of Justice [Bundesgerichtshof, BGH] determined this in its ruling of 26 April 2022 – X ZR 3/20 - and thus overturned the previous decision of the Higher Regional Court [Oberlandesgericht, OLG] of Cologne of 18 December 2019 - I-25 U 14/19 - and referred the matter back to the previous instance. The BGH pointed out that, even without any legal incapacity, the state of a weakness of will or ability to be easily influenced could also justify a nullity on grounds of immorality, if this state was deliberately and purposefully exploited by the recipient of the gift. This is because the immorality can also result from the behaviour and motives of the recipient of the gift.

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Energy and Infrastructure27.07.2022 Newsletter

Gas emergency situation – What can you do?

At the end of June, the German Federal Ministry of Economics and Climate Protection declared the alert level ("Alarmstufe") of the German Gas Emergency Plan - there is great concern about a gas supply stop and corresponding reductions. If the BMWK declares the emergency level, companies would basically be affected first. The strains will run through the entire supply chain. We have summarized what you can do to best prepare yourself. Our experts are always available for an in-depth discussion on these and other points.

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Foreign Trade / Compliance22.07.2022 Newsletter

Further tightening of EU sanctions against Russia and adjustment of existing measures

The EU Commission adopted another package of sanctions on 21 July 2022. The measures include new import bans, expanded restrictions on the export of certain sensitive technologies, as well as adjustments and corrections to existing bans and exemptions.

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Foreign subsidies: New screening procedure for M&A transactions and procurement processes

On 30 June 2022, the Council of the European Union and the EU Parliament agreed on the draft regulation proposed by the EU Commission on distortive foreign subsidies. Based on this agreement, the new regulation could already enter into force this year. Due to the introduction of a new mandatory screening mechanism, the regulation will have a considerable impact on transaction practice in M&A processes and in procurement procedures.

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Employment Law29.06.2022 Newsletter

Focus on Labour Law – 2nd Quarter 2022

In the second half of this year there are once again going to be important labour law reforms that will keep HR departments on their toes. We have summarised the most important innovations for you in this Focus on Labour Law. We also report on a multitude of other important decisions of the labour courts of relevance to company HR work.

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Oppenhoff advises Bankhaus August Lenz on sale of its Payment Services division

Oppenhoff has extensively advised the long-established Munich-based bank August Lenz & Co. AG on the sale of its Payment Services division to Raisin Bank AG. With this acquisition, Raisin Bank is expanding its business areas as a banking-as-a-service provider further.

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24.06.2022Cologne / Frankfurt am Main / Hamburg News

Best Lawyers ranking, 2023: Oppenhoff "Law Firm of the Year" for data security and privacy law – 39 lawyers in total recommended

Oppenhoff was named Law Firm of the Year for data security and privacy law in this year's Best Lawyers ranking. In addition, Dr. Marc Hilber was named "Lawyer of the Year" for IT law and Till Liebau as "Lawyer of the Year" for private equity.

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InsuranceCorporate Insurance23.06.2022 Newsletter

Insurance brokerage: lack of uninterrupted liability insurance may result in loss of broker's licence

The Administrative Court [Verwaltungsgericht, VG] of Magdeburg has ruled that the subsequent conclusion of a professional liability insurance in order to obtain uninterrupted insurance coverage does not meet the requirements of Sec. 34d (5) sentence 1 No. 3 German Industrial Code [Gewerbeordnung, GewO] (judgement of 18 January 2022, 3 A 96/21 MD).

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Employment Law22.06.2022 Newsletter

EU Working Conditions Directive: the reform of the German Act on Proof of Working Conditions has significant implications for the contract management of HR departments

The legislative reform planned for 1 August 2022 to implement the EU Directive on Transparent and Predictable Working Conditions has considerable implications and triggers a need for action by companies. New minimum requirements for determining working conditions and the expansion of the employer's obligation to provide evidence of material working conditions - which will be subject to fines in the future - require the adaptation of employment contracts and work processes in HR.

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21.06.2022Cologne / Hamburg / Frankfurt am Main News

Oppenhoff appoints new junior partners as of 1 July

Oppenhoff has elected Marco Degginger, Caterina Hanke, Dr. Philipp Heinrichs and Hanjo Prondzinski as junior partners with effect from 1 July 2022.

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Foreign Trade14.06.2022 Newsletter

Russia sanctions: Minority shares of sanctioned persons in non-listed companies to be aggregated in future – Further non-sanctioned companies possibly also affected

With its FAQs on asset freeze and prohibition to make funds and economic resources available, the EU Commission has almost incidentally announced a far-reaching and practically highly relevant change to its previous interpretation of the sanctions regulations. By aggregating minority shareholdings of sanctioned persons, prohibitions on disposal and provision may apply in future to a large number of previously non-sanctioned companies.

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Foreign Trade13.06.2022 Newsletter

The 6th EU sanctions package against Russia

The EU Commission adopted its sixth sanctions package against Russia and Belarus on 3 June 2022. The measures supplement the restrictions stipulated in the first five sanctions packages and are intended to further weaken the Russian economy in its key supporting function in Russia's war of aggression against Ukraine. The central element is a partial embargo on Russian oil. Additionally, existing financial sanctions and trade restrictions are being expanded.

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13.06.2022 Newsletter

Always topical: written form requirements in employment law and possibilities of using electronic form

In the course of the corona pandemic and the associated increasing digitisation of work processes, the question frequently arises, especially in personnel matters, as to which employment law transaction still even need to be made in writing at all, or whether a short e-mail exchange, for example, is sufficient to quickly and easily process certain matters.

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Antitrust Law and Merger Control09.06.2022 Newsletter

Updated EU antitrust framework for distribution: 7 highlights that companies should be aware of now.

The EU has fundamentally reformed the rules of antitrust law regarding distribution: After a heated debate, the new Block Exemption Regulation (Vertical-BER) entered into force on June 1, 2022. Since then, the new Vertical Guidelines of the EU Commission also apply. Companies have time until May 31, 2023 to review their distribution agreements in light of the new rules and adapt them if necessary.

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Public Procurement Law08.06.2022 Newsletter

Russia sanctions - what is still possible in public contracts?

For the first time since the start of the Russian war of aggression against Ukraine, the Sanctions Regulation (EU) 2022/576 has stipulated regulations for public procurement. The provisions are already in force and, from 11 October 2022 onwards, companies will have to ensure that there is no so-called connection with Russia also in their existing contracts. This also applies to the supply chain; otherwise there is a risk of the con-tract’s termination. In order to address this situation, public contracting authorities have recently started demanding so-called self-declarations, in which bidders are to declare that they have no connection with Russia.

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The energy impulse: the EU Commission's draft delegated act on the use of hydrogen in the transport sector - is the hydrogen ramp-up in Germany running out of steam?

Green hydrogen is thought to play a key role in the success of the energy and transport transition. It takes considerable effort to establish a functioning hydrogen economy sys-tem, however. The draft of the so-called delegated act to the Renewable Energy Di-rective, referred to as the RED II, which has now been published, has caused an uproar in the H2 industry.

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Aerospace and Defence02.06.2022 Newsletter

Sanctions: BAAINBw requires new self-declaration on EU Sanctions Regulation

The new Sanctions Regulation (EU) 2022/576 prohibits contracting authorities from awarding contracts to companies with links to Russia. This also applies if subcontractors with a connection to Russia have a share of more than 10% in the specific contract. As of 11 October 2022, contracts concluded with such companies prior to 9 April 2022 may no longer be performed and thus have to be terminated. The German Federal Office of Bundeswehr Equipment, Information Technology and In-Service Support [Bundesamt für Ausrüstung, Informationstechnik und Nutzung der Bundeswehr, BAAINBw] has developed a form for its contractors to declare that they have no links to Russia.

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Foreign Trade01.06.2022 Newsletter

Sanctions: new legal framework for effective sanctions enforcement entered into force

At the latest since the launch of the Russian war of aggression against Ukraine in February 2022, economic sanctions have been on everyone's lips. The concept is not new, however. Rather, it is a long-established instrument, also used by the EU, to impose sanctions against certain legal entities, natural persons, groups of persons or countries in order to enforce political interests and compliance with international law.

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ICLG – Project Finance 2022

The International Comparative Legal Guide - Project Finance 2022 has now been published! Our colleagues Wolfgang Kotzur (Finance), Nefail Berjasevic (Insolvency), Marc Krischer (Tax) and Stephan Müller (Compliance / Foreign Trade) contributed the German chapter.

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Preliminary injunction of the Regional Court of Hanover for abuse of a market-dominating position: Amazon’s constitutional complaint has not been successful

The constitutional complaint lodged by the Luxembourg Amazon Services Europe S.à r.l. against the high-profile decision of the Regional Court of Hanover of 22 July 2021 concerning an alleged violation of the principle of procedural equality of arms has been unsuccessful: the German Federal Constitutional Court did not accept the constitutional complaint for decision.

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Oppenhoff advises Schoofs Immobilien on sale of shopping centre to Greenman

Oppenhoff has advised Schoofs Immobilien GmbH Frankfurt on the conclusion of a forward deal with the Irish investment fund manager Greenman and its Greenman Open fund. The shopping complex that is the subject matter of the contract is currently being built on an approx. 20,000 m² site at the foot of Montabaur Castle.

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InsuranceCorporate Insurance13.05.2022 Newsletter

VGH Munich on tax debts as a reason for unreliability

The Higher Administrative Court [Verwaltungsgerichtshof, VGH] of Munich has ruled that outstanding tax debts of an insurance broker can lead to the revocation of the broker's licence (decision of 18 January 2022, 22 ZB 21.2643).

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Foreign Trade12.05.2022 Newsletter

Investment Screening: No Discretion for foreign direct investment from Russia and Belarus

On 6 April 2022, the EU Commission published guidelines for member states on dealing with foreign direct investment from Russia and Belarus. In these guidelines, the EU Commission calls on member states to make particular use of their national investment screening instruments for investors from these countries, making reference to EU Screening Regulation.

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Julia Witte

Julia Witte

Communications Manager

Konrad-Adenauer-Ufer 23
50668 Cologne
T +49 221 2091 342

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