Newsletter International Briefing, September 2019
Welcome to the Autumn 2019 edition of our International Briefing. While the Brexit date is fast approaching, it is still not possible to anticipate what precisely will be agreed, if anything. Nevertheless, you must prepare your business for the day when the UK becomes a third country from an EU perspective. We therefore would like to remind you of the Brexit related commercial and corporate law issues.
At the end of July, the EU provided guidance on the participation of thirdcountry bidders and goods in the EU procurement market. You will find an overview of this new guidance in this edition.
If you are involved in the crossborder sale of goods, you should be aware of the restrictions resulting from EU antitrust law. We provide highlevel information to help you make sure your business is compliant.
We provide also updates with respect to the planned legislative reform of real estate transfer tax in share deals, on corporate social responsibility matters, as well as on the case law to be aware of if you plan to merge an overindebted limited liability company with another previously solvent limited liability company in Germany.
If a merger has to be notified to the EU Commission and an interim buyer is used for the acquisition, the interim acquisition itself requires merger control clearance under specific circumstances. We look at the fine line between so-called warehousing and gunjumping.
Moreover, you should bear in mind that group parent companies are liable for the cartel damages caused by their subsidiaries. According to a recent judgment of the European Court of Justice, the entities liable for cartel damages are to be determined on the basis of EU law.
Last but not least, we are proud to announce that the leading German economy weekly Wirtschaftswoche ranked BEITEN BURKHARDT in the top tier of the best legal firms in the field of Mergers & Acquisitions for 2019. We hope that you will find the information provided helpful in your daily business.
Dr Christian von Wistinghausen