News-Archive

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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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 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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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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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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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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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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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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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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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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