Besides prosecution by anti-trust authorities and, potentially, criminal prosecution, cartel infringements may also lead to civil liability for damages claims in private enforcement proceedings. The European Court of Justice (“CJEU”) is, in its recent case law, establishing an ever broader and more comprehensive EU-wide basis for such damages, including liability for umbrella pricing (Kone) and…

Executive Summary: The Austrian Supreme Court has recently provided guidance on how to structure cash pooling arrangements so that the risk of violation of the strict Austrian capital maintenance rules is minimized. In essence, the decision indicates that if there is sufficient commercial justification; no special default risk that could prove an existential risk to…

EU’s largest trade agreement ever concluded on 28 June 2019: the EU and the Mercosur brought to fruition the long-standing negotiations on a comprehensive trade agreement between the EU and the Mercosur (the “Association Agreement”). The Mercosur is an economic block covering Argentina, Brazil, Paraguay and Uruguay. The largest treaty of its kind for the…

A GmbH, i.e. a company with limited liability, is a favoured form of corporate entity in both Austria and Germany. While stock corporations (Aktiengesellschaften, AG) are required for certain purposes – such as if the company is to be listed, if it is a bank, insurance company or is engaged in other regulated industries –…

Was ist Compliance? Unter Compliance versteht man die Einhaltung von Regeln in Form von Gesetz und sonstigen Vorschriften. Der moderne Begriff beschreibt nichts anderes als „Rechtstreue“ oder „Regelkonformität“. Zum Compliance Management zählen insbesondere alle Maßnahmen zur Förderung von Rechtstreue und zur Verhinderung von Regelverstößen. In einem Unternehmen ist Ziel der Compliance Abteilung Risikominimierung durch Beachtung…