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  • PAYMENT LICENSE IN GEORGIA

    PAYMENT LICENSE IN GEORGIA

    Published: 19 Jul 2018

    The use of bank transfers in the calculation of cash to conduct business and meet the needs of modern man is no longer enough. The most popular electronic payment systems and electronic money have a much greater advantage over banks, among which can be distinguished the following: ·         Convenience and speed; ·    ...

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  • GRP Rainer Rechtsanwälte – Report on D&O insurance

    GRP Rainer Rechtsanwälte – Report on D&O insurance

    Published: 18 Jul 2018

    In cases where damage or injury has occurred, it is increasingly common for the issue of D&O liability to take centre stage. For this reason, many companies have taken out a D&O insurance policy for their managers. Besides a great deal of responsibility, a company’s governing bodies also bear a high risk of personal liability. Mere negligence can be sufficient to give rise to both intern...

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  • GRP Rainer Rechtsanwälte – Experience with right of authorized dealer to claim compensation

    GRP Rainer Rechtsanwälte – Experience with right of authorized dealer to claim compensation

    Published: 17 Jul 2018

    Like commercial agents, authorized dealers may also be entitled to claim compensation after the relevant agreement has been terminated. For this to happen, certain conditions need to be fulfilled. Unlike commercial agents, authorized dealers operate under their own name and for their own account. The latter markets another company’s products under its own name, whereas a commercial agent enters ...

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  • GRP Rainer Rechtsanwälte – Abuse of a dominant market position – Antitrust assessment

    GRP Rainer Rechtsanwälte – Abuse of a dominant market position – Antitrust assessment

    Published: 13 Jul 2018

    Businesses are not allowed to abuse their dominant market position, as this constitutes a violation of antitrust law. The key issue that requires assessment is when this kind of abuse has occurred. Abuse of a dominant market position constitutes a violation of antitrust law. According to the Gesetz gegen Wettbewerbsbeschränkungen (GWB), Germany’s Act Against Restraints of Competition, a bus...

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  • FINANCIAL LICENSE ABROAD. OFFSHORE FINANCIAL LICENSE.

    FINANCIAL LICENSE ABROAD. OFFSHORE FINANCIAL LICENSE.

    Published: 12 Jul 2018

    A financial license is a document that allows you to carry out one or another activity. Thus, the process of issuing a document, its extension or cancellation, is called licensing. Having the necessary financial license from the company can guarantee the consumer safety for the type of product or service that it acquires, since such a document complies with all the established legal norms of a cou...

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  • Government drafts new arbitration bill

    Government drafts new arbitration bill

    Published: 12 Jul 2018

    Introduction Foreign investors and partners clearly prefer out-of-court dispute resolution. However, owing to Macau's current arbitration regime and the difficulties that it poses, parties typically choose other jurisdictions to resolve disputes. Therefore, the government has drafted a new arbitration bill which aims to: promote Macau as a commercial arbitration centre between China and Port...

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  • GRP Rainer Rechtsanwälte – Assessing manager liability in the event of imminent insolvency

    GRP Rainer Rechtsanwälte – Assessing manager liability in the event of imminent insolvency

    Published: 10 Jul 2018

    One of a managing director’s duties is filing for insolvency on time. If this duty is breached, the managing director may be held personally liable. Under no circumstances should managing directors ignore signs of imminent insolvency, as filing for insolvency in a timely manner is one of their duties. Failure to file for insolvency on time or making undue payments in spite of impending insolvenc...

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  • Heirs within a patchwork family

    Heirs within a patchwork family

    Published: 05 Jul 2018

    Patchwork families, also known as blended families, are no longer a rarity today, yet succession law has yet to adapt to this development. According to the rules of intestate succession, stepchildren come away empty-handed. Society has changed substantially over the last few decades. In addition to the traditional family model, patchwork families have also established themselves. It is common fo...

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