Dorsey & Whitney LLP (JD Supra Germany)
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M&A: Draft German Law Gives More Teeth to FDI Controls – Reduces Deal Certainty – Imposes Broader Stand-still Obligations – Restricts Technical Due Diligence
Draft German investment control rules give the German government broader powers to intervene against M&A deals perceived to affect German (or EU) security or other public interests. New stand-still obligations will limit exchange of technical information prior to FDI clearance and affect deal timelines in wider business sectors.
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Insolvency Relief, Loans, Moratorium, Cash & Co. - German Parliament Package Alleviates Corona Fallout
In times of lockdowns, shelter orders, curfews and other restrictions to fight COVID-19 (corona), falling income of businesses, employees and consumers meets continuing payment obligations and fixed costs. In an effort to stem a perceived flood of bankruptcies and to alleviate liquidity problems for companies and individuals, with almost unanimous approval in both Houses of Parliament, today...
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New Registration Requirements for Packaging of Products Destined for the German Market
As part of the new Packaging Act (VerpackG), manufacturers and/or distributors will need to register their products with the new German Packaging Register (“Verpackungsregister”). Registration will be mandatory starting 1 January 2019.
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Amended German Investment Controls: Increased Scrutiny and Delays for German Target M&A Deals with Non-EU Buyers
In line with an apparent trend towards tighter trade and investment controls in various countries, the German government last week adopted stricter rules on investments in German companies by non-EU parties (an EFTA-based party is treated like an EU party). Practice points: Threshold: As in the past, the control process applies to acquisitions of at least 25% of direct or indirect voting...
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German Copyright Law Sets Limitations on Exclusive Licenses
The German parliament adopted a series of amendments to copyright law designed to protect authors of copyright works (“authors”) against the perceived superior bargaining power of the copyright industry. The new rules introduced into German copyright law late last year focus on “full buy-out” contracts where rights are granted to the publisher exclusively in consideration of a one-off lump sum...
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International Transactions May Escape German Merger Control Even if Statutory Control Thresholds Are Exceeded - New FCO German Guidelines
In many countries turnover tests triggering merger control can be overly far-reaching and cover transactions that are “entirely foreign” and do not have any appreciable effect in the country concerned. Newly issued German Federal Cartel Office (FCO) Guidelines address this issue providing clarification and examples for exemption from German merger control notification requirements due to...