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Firm: Heuking Kühn Lüer Wojtek

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Coronavirus (COVID-19): Contingency Plans at Credit and Financial Services Institutions Under Scrutiny
Heuking Kühn Lüer Wojtek, March 2020

While the coronavirus continues to spread, the German Federal Financial Supervisory Authority (“BaFin”) also published a document on the Minimum Requirements for Risk Management (“MaRisk”) for credit and financial services institutions on March 12, 2020, in which it addresses the issue of activities outside business premises and risk management in the trading sector from a regulatory perspective...

The Impacts of The Coronavirus on Professional Sports (In Particular, Soccer)
Heuking Kühn Lüer Wojtek, March 2020

STATUS QUO (ON MARCH 18, 2020) The Europe-wide spread of the coronavirus (COVID-19) is now also directly affecting the professional sports sector. As a consequence, there are not only games that are being played without fans and soccer leagues suspended from the Bundesliga all the way down to the 3rddivision, but even entire remaining seasons (including of the German Ice Hockey League and the German Volleyball League) have been canceled...

Coronavirus: FAQ Employment Law Part 2
Heuking Kühn Lüer Wojtek, March 2020

A. SHORT-TIME WORK 1. WHAT IS THE LEGAL POSITION? According to the "Act on the temporary crisis-related improvement of the regulations for short-time work compensation" ("Gesetz zur vorüberristeten krisenbedingten Verbesserung der Regelungen für das Kurzarbeitgeld") (see preliminary version of BT publication 19/17893), a company can order short-time work due to the worldwide cases of illness caused by the coronavirus and thus reduce working hours...

Is the State Liable for Loss of Revenue Resulting from Measures Taken Against COVID-19?
Heuking Kühn Lüer Wojtek, March 2020

The coronavirus is not only harmful to health but also to our finances, leading to considerable financial losses for many companies and employees. In individual cases, insurance companies may be liable for the loss of sales associated with the virus. We will inform you about this option separately...

Is the State Liable for Loss of Revenue Resulting from Measures Taken Against COVID-19?
Heuking Kühn Lüer Wojtek, March 2020

The coronavirus is not only harmful to health but also to our finances, leading to considerable financial losses for many companies and employees. In individual cases, insurance companies may be liable for the loss of sales associated with the virus. We will inform you about this option separately...

Restructuring in Times of Corona - What Companies Need to Know Now
Heuking Kühn Lüer Wojtek, March 2020

I. RISK TO COMPANIES FROM THE IMPACTS OF THE CORONA PANDEMIC The corona pandemic leads to a decline in sales revenues worldwide. Demand is plummeting. At the same time, supply chains in the globally networked economy are no longer reliable. Obligations to pay compensation for the inability to supply are impending, particularly in cases of no-fault supply guarantees. The liquidity and therefore the continued existence of many companies are at risk...

Liquidity Support Through “Unlimited” Loan Guarantees
Heuking Kühn Lüer Wojtek, March 2020

Corona-related sales declines in many industries lead to short-term liquidity bottlenecks for numerous companies. As the third pillar of the protective shield for employees and companies, the German Federal Government has therefore decided on new and unlimited measures to expand liquidity assistance to facilitate companies’ access to cheap loans...

Corona on the Construction Site
Heuking Kühn Lüer Wojtek, March 2020

The coronavirus has arrived in Germany. This is the central statement of the press conference held by Chancellor Angela Merkel on March 12, 2020. Ongoing construction projects are therefore also affected by the corona crisis, with considerable construction delays to be expected. Contractual provisions are usually lacking Contracts are reflecting the parties’ experiences and expectations. They provide for conceivable or expected circumstances, aiming to create legal certainty...

ESMA Has Lowered the Initial Reporting Threshold For Net-Short Positions To 0.1 Per Cent
Heuking Kühn Lüer Wojtek, March 2020

ESMA DECISION The European Securities and Markets Authority („ESMA“) announced today the decision to lower the initial reporting threshold for net short positions under the EU Short Selling Regulation to 0.1 percent (the „ESMA Decision“). The ESMA Decision has entered into force immediately after its publication on ESMA’s website. INITIAL REPORTING THRESHOLD NOW 0.1 PERCENT (PRIOR: 0...

Ad Hoc Disclosure Obligations in Connection With the Corona Crisis
Heuking Kühn Lüer Wojtek, March 2020

The consequences of the coronavirus are omnipresent and felt by everyone. Management Board members and Directors of issuers of securities listed on the open or regulated market are faced with the question whether ad hoc publicity obligations are arising for their companies in connection with the corona crisis. The abstract circumstance of the occurrence of a recession as a result of the spread of the coronavirus does not trigger an ad hoc disclosure obligation...

Effects on Existing Corporate Loan Agreements Under German Law
Heuking Kühn Lüer Wojtek, March 2020

Already, the COVID-19 pandemic has had far-reaching effects on the global economy and particularly on the German economy as well: interrupted international supply chains, travel restrictions, or the cancelation of major events and trade shows – all of this poses considerable challenges for the manufacturing, trade, transportation, tourism, and event organizer sectors in Germany...

Award Bans Due to Corona?
Heuking Kühn Lüer Wojtek, March 2020

Ranging from toilet paper for public institutions to medical consumables for (public) hospitals to the absence of staff in public transport, corona already exhibits a massive impact on companies’ business activities. Supply chains are interrupted, employees are being quarantined. Even public contracts can either not be fulfilled at all, or not on time, or not in their entirety...

Legal Implications of the Coronavirus at a Glance
Heuking Kühn Lüer Wojtek, March 2020

The COVID-19 virus (commonly known as the “coronavirus”) is affecting companies’ commercial activities around the world, with particular impact on supply chains and employment and insurance law. There is also a question around the measures the competent authorities may impose to prevent or contain the spread of the coronavirus. A...

Coronavirus and Insurance Cover
Heuking Kühn Lüer Wojtek, March 2020

The coronavirus is currently causing a lot of uproar. Many companies are reviewing their risks in case of infection or are trying to mitigate damage caused by canceled events and trade shows...

Coronavirus: FAQ Employment Law
Heuking Kühn Lüer Wojtek, March 2020

Answers to important questions 1. WHAT INFORMATION OBLIGATIONS DOES THE EMPLOYER HAVE TO INFORM ITS WORKFORCE? As with other highly infectious diseases, employers have a duty to inform their staff about the coronavirus as part of their general duty of care and consideration (Sec. 241, 618 German Civil Code [BGB]). The extent of this duty to inform depends, among other things, on whether a member of staff is suspected of having caught the virus, whether or not this has been confirmed...

Facebook may be Required to Seek and Erase Illegal Content Worldwide
Heuking Kühn Lüer Wojtek, November 2019

The Court of Justice of the European Union (ECJ) has ruled that hosting providers, in this case Facebook, may be required by a court to seek and erase content which is identical or, under certain circumstances, equivalent to information previously found to be unlawful. In terms of the relevant international law, this obligation could also be extended to content worldwide...

New EU Directive on Cross-border Online Distribution of Television and Radio Programmes
Heuking Kühn Lüer Wojtek, October 2019

Almost at the same time as the much-noticed and controversially discussed Directive on Copyright in the Digital Single Market (see Update IP No. 12: Agreement on the Reform of the Digital Copyright Law) and barely noticed by the public, another European Directive on copyright law was adopted...

New EU Directive on Cross-Border Online Distribution of Television and Radio Programmes
Heuking Kühn Lüer Wojtek, October 2019

Almost at the same time as the much-noticed and controversially discussed Directive on Copyright in the Digital Single Market (see Update IP No. 12: Agreement on the Reform of the Digital Copyright Law) and barely noticed by the public, another European Directive on copyright law was adopted...

Employment: Trends & Developments
Heuking Kühn Lüer Wojtek, October 2019

The labour and employment sector has once again seen many changes – both in terms of the initiatives of the legislator as well as changes in the way the sector works. One important change has been the implementation of the Law on Protection of Business Secrets (Gesetz zum Schutz von Geschäftsgeheimnissen – GeschGehG). The economic relevance of business secrets is very high...

Employment: Law & Practice
Heuking Kühn Lüer Wojtek, October 2019

1. TERMS OF EMPLOYMENT 1.1 STATUS OF EMPLOYEE In Germany, an employee (Arbeitnehmer) enjoys a special status that is described as the personal obligation to perform work upon the employer’s instructions, without entrepreneurial risks and in a situation of economic dependence (to a certain degree) on the employer...

Facebook May be Required to Seek and Erase Illegal Content Worldwide
Heuking Kühn Lüer Wojtek, October 2019

The Court of Justice of the European Union (ECJ) has ruled, upon submission by the Austrian Supreme Court (Oberster Gerichtshof, OGH), with the decision of 3 October 2019 (Case C-18/18), that hosting providers, in this case Facebook, may be required by a court to seek and erase content which is identical or, under certain circumstances, equivalent to information previously found to be unlawful...

CJEU: Pre-checked consent to the use of cookies is inadmissible
Heuking Kühn Lüer Wojtek, October 2019

On October 1, 2019 the Court of Justice of the European Union (CJEU) ruled that pre-ticked boxes do not constitute a valid consent by web users prior to storing cookies on their devices (Verbraucherzentrale Bundesverband e.V. and Planet49 GmbH; Case C-673/17). The decision follows a challenge by the German Federation of the Consumer Organisations against the use of a pre-ticked checkbox which had, by default, consented to cookies on behalf of the user...

Employers are Not Obligated to Notify Employees of Expiring Vacation Entitlements during Long-Term Illnesses
Heuking Kühn Lüer Wojtek, September 2019

In its July 24, 2019 judgment (Case: 5 Sa 676/19), Hamm State Labor Court issued a ruling as to whether employers are obligated to also notify employees who are out of work due to long-term illnesses that their vacation entitlement will expire by December 31 of the calendar year or by March 31 of the subsequent year if those employees fail to take their vacation days. The court denied this on convincing grounds. The final verdict, however, will come from the Federal Labor Court...

The Works Council’s Right to Inspect Payroll with Gross Salaries Broken Down by Employee Names
Heuking Kühn Lüer Wojtek, September 2019

The works council may demand access to the employees’ payroll. Considerations under data protection law do not require anonymization or pseudonymization. Federal Labor Court, May 7, 2019 – 1 ABR 53/17   FACTS OF THE CASE A company granted the works council access to its electronic employee salary file – the payroll showing gross salaries, while stripping employees’ names from the list, thus in anonymized (more correctly: pseudonymized) form...

No General Prohibition of Deterioration for Retirement Benefits in Cases of Transfer of Businesses
Heuking Kühn Lüer Wojtek, September 2019

Federal Labor Court, June 12, 2019 - 1 AZR 154/17.  There is no general prohibition of deterioration that applies to retirement benefits in the case of one or several transfers of businesses pursuant to Section 613a German Civil Code. This has now been confirmed by the Federal Labor Court in a recent decision...

 

 

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