The Middle East and North Africa (MENA) region is a hugely diverse cultural and geographical mix that stretches from Morocco in northwest Africa to Iran in Southwest Asia. The region […]
Read moreBonuses for night work and working on Sundays are only tax exempt if they are awarded on an individual and not a flat-rate basis. That was the verdict of the Finanzgericht (FG) Düsseldorf – the Fiscal court of Düsseldorf – in a judgment from November 27, 2020. Those who work nights or on Sundays and […]
The Court of Justice of the European Union, General Court, recently lowered Chanel’s hopes of having a trademark belonging to Huawei Technologies Co., Ltd. invalidated. The court found that the trademarks (see below) are not similar, therefore there is no likelihood of confusion and that trademarks must be assessed as registered, regardless of their rotation […]
Black Forest ham (Schwarzwälder Schinken) may be referred to as such even if it is not sliced and packaged in the Black Forest. That was the verdict of the Bundesgerichtshof (BGH), Germany’s Federal Supreme Court (Az.: I ZB 72/19). Geographical indications of origin can be protected in a similar manner to trademarks, something which can […]
The Bundesanstalt für Finanzdienstleistungsaufischt (BaFin) – Germany’s Federal Financial Supervisory Authority – has closed down Greensill Bank’s business operations with its customers and filed criminal charges. Private investors as well as institutional investors and municipalities fear losing their money at the bank. Greensill Bank was acquired by the British-Australian financial conglomerate Greensill Capital in 2014, […]
In March 2021, ETAK Systems LLC (“ETAK” or the “Company”), a portfolio company of Mosaic Capital Partners (“Mosaic”), was acquired by ADB Companies, LLC (“ADB”). Duff & Phelps served as the exclusive financial advisor to ETAK in connection with the transaction. About ETAK Systems LLCHeadquartered in Charlotte, North Carolina, ETAK Systems provide a full range […]
Short-time working – Kurzarbeit in German – refers to a government scheme that allows businesses experiencing economic difficulties to temporarily reduce their employees’ working hours, with the state making up for all or part of the lost wages. Many firms have had recourse to this program for reasons related to COVID-19. The Landesarbeitsgericht (LAG) Düsseldorf […]
Socially Distanced Deal Making Goes Viral as Economy Prepares for Pandemic Recovery We are delighted to share with you our spring 2021 quarterly mid-market market update. In this issue, we present the results of our inaugural debt mid-market survey, tracking deals completed by over 50 leading European lenders in H2-2020. We also provide commentary on […]
This edition of the Cost Trend Update Bulletin shows national averages for the U.S. from January 2015 to January 2021 and demonstrates how construction and equipment cost indices have performed over the past six years. Construction Cost Indices Through the first half of 2020 we saw flat construction cost inflation that was below historical average […]
As was to be expected, the Bundesanstalt für Finanzdienstleistungsaufischt (BaFin) – Germany’s Federal Financial Supervisory Authority – has determined that compensation is payable to Greensill Bank’s depositors, as the bank is no longer able to repay all of its customers’ deposits. Insolvency proceedings have also been initiated against the bank with the Amtsgericht Bremen, the […]
In a remarkable ruling from February 18, 2021, the Landgericht (LG) Berlin – the Regional Court of Berlin – declared a million-euro fine imposed in response to a breach of the General Data Protection Regulation (GDPR) invalid. We at the commercial law firm MTR Rechtsanwälte note that the extent to which companies or legal persons […]
In a ruling from February 19, 2021, the Landgericht (LG) Düsseldorf – the Regional Court of Düsseldorf – held that the provider of business closure insurance has to pay out for bars closing in connection with the coronavirus (Az.: 40 O 53/20). The case-law concerning the obligation of a provider of business closure insurance to […]
