The various measures to mitigate the impact of the COVID-19 pandemic now include the establishment of the ESF to support companies for a limited period of time, primarily by providing guarantees but also hybrid or equity financing – a mechanism that was already tested during the financial crisis to support banks.
https://honert.de/wp-content/uploads/honert_logo_270px.png00Ester Hahnhttps://honert.de/wp-content/uploads/honert_logo_270px.pngEster Hahn2020-03-31 08:40:002020-03-31 12:12:36EUR 600 BILLION AGAINST THE CORONAVIRUS CRISIS (ALSO FOR SYSTEM-CRITICAL START-UPS) – THE ECONOMIC STABILIZATION FUND (“ESF”)
The directive “amending Directive (EU) 2017/1132 with regards to the use of digital tools and processes in corporate law” is intended to promote digital change in corporate law. With this directive which is part of the so-called Company Law Package of the European Commission the European Legislator has set the legal framework for, inter alia, the online foundation of corporations, the online registration of branch offices and the online submission of corporate documents.
https://honert.de/wp-content/uploads/honert_logo_270px.png00Ester Hahnhttps://honert.de/wp-content/uploads/honert_logo_270px.pngEster Hahn2020-03-31 08:30:002020-03-31 12:08:43DIGITAL FOUNDING ERA – COMPANY FOUNDATION BY MOUSE CLICK?
In the course of a transaction in which a company or shares in a company are sold in whole or in part, family-law provisions must often be observed. In this context, the Higher Regional Court of Saarbrücken and the Higher Regional Court of Oldenburg have recently commented on two cases of practical relevance, namely the obligation to obtain the approval of the other spouse in the case of disposition and the approval of a transfer of the limited partner’s share in favor of minors.
https://honert.de/wp-content/uploads/honert_logo_270px.png00Ester Hahnhttps://honert.de/wp-content/uploads/honert_logo_270px.pngEster Hahn2020-03-31 08:20:002020-03-31 12:05:08IMPORTANCE OF FAMILY-LAW PROVISIONS IN THE CONTEXT OF COMPANY ACQUISITIONS
By implementing the so-called Fifth Anti-Money Laundering Directive into German law, the Transparency Register has undergone numerous changes for companies, shareholders and beneficial owners. There is a concrete need for action, especially for companies with regard to their reporting obligations.
https://honert.de/wp-content/uploads/honert_logo_270px.png00Ester Hahnhttps://honert.de/wp-content/uploads/honert_logo_270px.pngEster Hahn2020-03-31 08:10:002020-03-31 14:27:23TRANSPARENCY FOR EVERYONE?! NEW REGULATIONS WITH REGARD TO THE TRANSPARENCY REGISTER AFTER THE IMPLEMENTATION OF THE FIFTH EUROPEAN ANTI-MONEY LAUNDERING DIRECTIVE INTO GERMAN LAW.
On 1 January 2020 the law on transposing the so-called Fifth European Anti-Money Laundering Directive into German Law became effective. Some of the resulting changes in the German Money Laundering Act pose new challenges for companies of the non-financial sector, especially for commercial and industrial companies. Companies should counter these by adapting their money laundering compliance system.
https://honert.de/wp-content/uploads/honert_logo_270px.png00Ester Hahnhttps://honert.de/wp-content/uploads/honert_logo_270px.pngEster Hahn2020-03-31 08:00:002020-03-31 11:59:24KNOW YOUR CUSTOMER – BETTER! NEW CHALLENGES FOR COMPANIES IN THE NON-FINANCIAL SECTOR AFTER TRANSPOSING THE FIFTH EUROPEAN ANTI-MONEY LAUNDERING DIRECTIVE INTO GERMAN LAW
The discharge of a managing director is at the discretion of the shareholders’ meeting and is approved by the management of the company. To what extent is this discretion restricted if the manager has violated the duties assigned to him? Can the shareholders of the GmbH & Co KG make direct claims against the managing director of the limited partnership general partner at all? The Higher Regional Court of Frankfurt decided on the effectiveness of a discharge for a managing director of a limited partnership general partner who had not noticed for years that an employed administrator of the company had embezzled money.
https://honert.de/wp-content/uploads/honert_logo_270px.png00Ester Hahnhttps://honert.de/wp-content/uploads/honert_logo_270px.pngEster Hahn2020-03-31 07:50:002020-03-31 11:56:38NO DISCHARGE FOR A MANAGING DIRECTOR OF A LIMITED PARTNERSHIP GENERAL PARTNER IN CASE OF SEVERE VIOLATION OF HIS ORGANIZATIONAL AND SUPERVISORY DUTY
EUR 600 BILLION AGAINST THE CORONAVIRUS CRISIS (ALSO FOR SYSTEM-CRITICAL START-UPS) – THE ECONOMIC STABILIZATION FUND (“ESF”)
/in 2020 Q1/by Ester HahnThe various measures to mitigate the impact of the COVID-19 pandemic now include the establishment of the ESF to support companies for a limited period of time, primarily by providing guarantees but also hybrid or equity financing – a mechanism that was already tested during the financial crisis to support banks.
DIGITAL FOUNDING ERA – COMPANY FOUNDATION BY MOUSE CLICK?
/in 2020 Q1/by Ester HahnThe directive “amending Directive (EU) 2017/1132 with regards to the use of digital tools and processes in corporate law” is intended to promote digital change in corporate law. With this directive which is part of the so-called Company Law Package of the European Commission the European Legislator has set the legal framework for, inter alia, the online foundation of corporations, the online registration of branch offices and the online submission of corporate documents.
IMPORTANCE OF FAMILY-LAW PROVISIONS IN THE CONTEXT OF COMPANY ACQUISITIONS
/in 2020 Q1/by Ester HahnIn the course of a transaction in which a company or shares in a company are sold in whole or in part, family-law provisions must often be observed. In this context, the Higher Regional Court of Saarbrücken and the Higher Regional Court of Oldenburg have recently commented on two cases of practical relevance, namely the obligation to obtain the approval of the other spouse in the case of disposition and the approval of a transfer of the limited partner’s share in favor of minors.
TRANSPARENCY FOR EVERYONE?! NEW REGULATIONS WITH REGARD TO THE TRANSPARENCY REGISTER AFTER THE IMPLEMENTATION OF THE FIFTH EUROPEAN ANTI-MONEY LAUNDERING DIRECTIVE INTO GERMAN LAW.
/in 2020 Q1/by Ester HahnBy implementing the so-called Fifth Anti-Money Laundering Directive into German law, the Transparency Register has undergone numerous changes for companies, shareholders and beneficial owners. There is a concrete need for action, especially for companies with regard to their reporting obligations.
KNOW YOUR CUSTOMER – BETTER! NEW CHALLENGES FOR COMPANIES IN THE NON-FINANCIAL SECTOR AFTER TRANSPOSING THE FIFTH EUROPEAN ANTI-MONEY LAUNDERING DIRECTIVE INTO GERMAN LAW
/in 2020 Q1/by Ester HahnOn 1 January 2020 the law on transposing the so-called Fifth European Anti-Money Laundering Directive into German Law became effective. Some of the resulting changes in the German Money Laundering Act pose new challenges for companies of the non-financial sector, especially for commercial and industrial companies. Companies should counter these by adapting their money laundering compliance system.
NO DISCHARGE FOR A MANAGING DIRECTOR OF A LIMITED PARTNERSHIP GENERAL PARTNER IN CASE OF SEVERE VIOLATION OF HIS ORGANIZATIONAL AND SUPERVISORY DUTY
/in 2020 Q1/by Ester HahnThe discharge of a managing director is at the discretion of the shareholders’ meeting and is approved by the management of the company. To what extent is this discretion restricted if the manager has violated the duties assigned to him? Can the shareholders of the GmbH & Co KG make direct claims against the managing director of the limited partnership general partner at all? The Higher Regional Court of Frankfurt decided on the effectiveness of a discharge for a managing director of a limited partnership general partner who had not noticed for years that an employed administrator of the company had embezzled money.