Russia / Ukraine related
sanctions – implications
The development and commercialisation of drones is making relentless progress. Due to the wide range of applications and the rapid technical advances, unmanned aircraft – or “UAS” (=Unmanned Aircraft System) for short – are predicted to be a promising future.
We are delighted to announce that the M&A Department of SDZLEGAL SCHINDHELM has been recognised in the IFLR1000!
IFLR1000 has been providing information on law firms and lawyers specialising in financial transactions and corporate law for over 20 years. It currently publishes rankings for more than 120 jurisdictions worldwide.
We would like to take this opportunity to thank our clients for their trust and votes and congratulate the entire Corporate/M&A Law Team immensely on this success.
SDZLEGAL SCHINDHELM team
In the first half of 2022, the Corona Virus broke out again in many places in China. From early March to early June, the infection numbers in Shanghai had also developed rapidly. For this reason, massive lockdown measures were issued by the local government, which resulted in the closure of almost all companies in Shanghai. After the lockdown was released, general support policies have now been introduced in various regions, including Shanghai, which include rent reduction/exemption measures for locally based companies.
As of 26 July 2022, Royal Legislative Decree 13/2020 changed the contribution system for self-employed persons to the social security system. Under the new system, self-employed persons now pay their contributions according to their net income.
The European Commission’s Vertical Block Exemption Regulation (“VBER”), which was previously potentially applicable to distribution, whereby agreements between manufacturers or suppliers and retailers are exempt from the ban on cartels, ceased to be in force on 31/05/2022, because the original period of validity of 12 years was reached. These new versions bring some changes which relax requirements compared to the previous legal situation, but also tighten requirements, which primarily take into account the area of tension between online/offline sales.
The current isolationist policy, as well as the associated extremely strict entry restrictions and other coronavirus measures in the People's Republic of China, has for a long time presented a significant problem for European companies with Chinese subsidiaries: There is a creeping loss of control over the subsidiaries, since adequate control of the company by the European shareholder is no longer guaranteed on-location. In the following, we would like to provide an overview of the regularly occurring abuses, as well as best practice solutions for preventing these abuses and harm to company.