Friedrich Graf von Westphalen & Partner
Friedrich Graf von Westphalen & Partner

Dear clients, partners and friends,

"We hope this finds you well." Letters or e-mails often begin with these words, and it is typically no more than a pleasant introduction. The ongoing global health crisis caused by the COVID-19 pandemic has changed the meaning of the phrase considerably. These days, we cannot emphasize enough that we hope that this newsletter finds you both in good spirits as well as in good health!

With vaccination campaigns accellerating all over the globe, now even in Germany, there is hope that we can overcome this crisis soon, especially if we think and act globally, without leaving behind developing countries where the virus could otherwise persist and mutate. There is also hope that the crisis will lead to economic growth - at least in certain sectors. In 2020, European start-ups raised 36.5 billion Euros, 17 % more than in 2019, according to a recent study published by EY, with German start-ups coming in second only behind UK-based companies. This astonishing development amid a global crisis shows that, when facing challenges, innovation is key.

Certainly, the trend towards more digitalization has been fueled by the pandemic and has given a boost to the business plans of many young businesses. The fact that this trend has also reached cultural life is proven by the numerous online offerings provided by theaters, museums and other protagonists, some of which we have listed in our column „Germany – Good to Know“ of this newsletter. Further, as usual, we have also included interesting legal news which we hope you will enjoy to read.

Yours sincerely,

Friedrich Graf von Westphalen & Partner

Legal News Germany

Legal News in 2021
Companies and entrepreneurs will again be facing numerous legal changes in Germany in 2021. Here is an overview >

Act Against Restraints of Competition Amendment: "Digitization" in Competition, Antitrust and Merger Control
On January 19, 2021, the 10th amendment to the Act Against Restraints of Competition ("GWB"), the "GWB Digitization Act," has come into force. The central regulatory subject of the amendment is the new abuse control for the digital economy. read more >

Commercial Law: International Contracts: Arbitration Agreement and CISG
Where no formal arbitration agreement is made, but arbitration clauses are incorporated, e.g. in general terms and conditions, it is important that the general terms and conditions are effectively included. In the case of international contracts, the so-called UN Convention on Contracts for the International Sale of Goods (“CISG”)  in particular must be observed. The German Federal Court of Justice ("BGH") has commented on these questions in its ruling of November 29, 2020. read more >

Corporate Social Responsibility: Draft of the so-called Supply Chain Act for German Companies
On March 3, 2021, the German Federal Government agreed on the draft of a so-called Supply Chain Act. The draft act aims to make major companies based in Germany responsible for respecting human rights,  protecting the environment and the health of humans worldwide. read more >

M&A Law: No Liability of the Purchaser of a Limited Partnership Interest for the Seller's Pre-Contractual Disclosure Breach vis-à-vis Investors
The purchaser of a limited partnership interest is not liable for a pre-contractual disclosure breach by the seller alleged by an investor in the limited partnership. read more >

M&A Law: Tightening of the Foreign Investment Control in Germany - Review of 2020 and Outlook for the Forthcoming 17th amendment to the Foreign Trade and Payments Ordinance
The number of corporate acquisitions controlled by the German Federal Ministry for Economic Affairs and Energy (BMWi) has steadily risen in recent years. Within the framework of cross-sector foreign investment control, the BMWi can examine whether the acquisition of a domestic company by an acquirer originating from outside the EU endangers the public order or security in Germany. read more >

M&A Law: Increased Duties of Disclosure in a Company Sale
The seller of a company is subject to increased pre-contractual duties of disclosure, in particular concerning  information about specific events and significant indications of a continuing crisis within the company.  read more >

Insolvency Law: Requirements for a Valid Claim Registration to the Insolvency Schedule
Creditors often file their claims to the insolvency schedule themselves. However, the fundamental requirements for filing a claim are crucial and should be taken into account carefully: an insufficient statement of the facts may cause the invalidity of such a claim. read more >

Justice 2.0: Judicial Dispute Resolution through Commercial Courts in Baden-Württemberg
Since November 1, 2020, commercial disputes in Baden-Württemberg can be settled before so-called Commercial Courts. These are specialized commercial chambers at the Regional Courts in Mannheim and Stuttgart, staffed with three judges specialized in corporate and commercial law. read more >

Labor Law: Insolvency Entitlements to Company Pension Benefits - Liability of the Acquiring Party
Employees with entitlements to company pension benefits are covered by the Pension Protection Association ("PSV") in the event of an insolvency of their employer. However, protection is not complete, especially with regard to the dynamization of pension benefits. Is the acquirer of an insolvent company liable for this unsecured part of the entitlements? The European Court of Justice and the German Federal Labor Court have provided clarification on this matter. read more >

Stock Corporation Law: Adjustment of the Regulations regarding Virtual Annual General Meetings in 2021
In times of COVID-19, ordinary, i.e. physical, annual general meetings of stock corporations will not be possible for the foreseeable future, even with a smaller group of shareholders. The (German) legislator recognized this problem at an early stage in spring 2020, during the first "corona wave", and introduced the possibility of a (completely) virtual general meeting for stock corporations by implementing the "Act on Measures in Company, Cooperative, Association, Foundation and Condominium Law to Combat the Effects of the Covid-19 Pandemic (COVID-19-GesG)" . read more >

Brexit Legal News

The Consequences of Brexit for IP Law since January 1, 2021
The final withdrawal of the UK from the EU on January 01, 2021 has drastic consequences in the field of intellectual property. This applies in particular to EU trademarks and Community designs, which grant trademark and design rights for all EU member states. After Brexit, particularities have to be considered for the continuation of these rights as well as for some other intellectual property law issues. read more >

The Consequences of Brexit for Data Protection Law since January 1, 2021
Since January 1, 2021, the UK has left the EU with the consequence that European law - and thus in principle also the General Data Protection Regulation (GDPR) - no longer applies to the UK. However, Brexit will have no direct impact on the permissibility of data flows between the EU and the UK - at least for the time being. read more >

Legal News Worldwide

Reform of Brazilian Corporate Insolvency Law - Which relevance for German Companies?
Just in time for the expected increase in the number of Brazilian companies in financial distress, Brazil has fundamentally reformed its corporate insolvency law. Due to the traditionally strong economic ties between the Brazilian and German economies, this reform is making waves across the Atlantic as the current reform heralds a paradigm shift in several areas. read more >

Germany Good to Know

Cultural Life during a Lockdown - Germany’s cultural scene is going online
The only good thing about a crisis is that it causes people to rethink, and so new paths are taken in many cultural sectors. The cities in Germany where FGvW has its offices, Berlin, Cologne, Frankfurt and Freiburg, are among the most attractive with regard to their cultural life. read more >

Accolades

Friedrich Graf von Westphalen again recommended by The Legal 500 Germany 2021
The latest edition of the Legal 500 Handbook for Germany 2021 has been published - and we are very pleased with the result: Friedrich Graf von Westphalen is recommended in ten categories and is mentioned both as a "Leading Name" and a "Next Generation Name".  read more >

JUVE: FGvW among the Best 50 Commercial Law Firms in Germany
The JUVE Handbook of Commercial Law Firms once again ranks FGvW among the leading German law firms. JUVE particularly emphasizes our strong performance in the areas of corporate law and M&A, insurance law with a focus on product liability and manager liability, trademark and competition law, distribution law, labor law, our advice in the health care sector and for start-ups. read more >

Getting to Know Friedrich Graf von Westphalen Better

In remembrance: Volker Stehlin
Volker Stehlin, our valued, level-headed partner and advisor to numerous clients in our firm, has passed away on April 3, 2021 at the age of only 54. read more >

FGvW Strengthens Nationwide IP Practice with Trademark Law Team led by Ingeborg Schwarz in Frankfurt
As of January 1, 2021, a team led by trademark law specialist Ingeborg Schwarz will strengthen our firm's office in Frankfurt. Ingeborg Schwarz, who will join FGvW as Of Counsel, will join FGvW together with associates Hendrikje Schilling and Frauke Weber from the law firm Brehm & v. Moers, which she co-founded. read more >

In each edition of our newsletter, we introduce people working for our firm. This time it is the turn of Oliver C. Ehrmann from our office in Berlin. read more >

 
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Friedrich Graf von Westphalen & Partner mbB | Rechtsanwälte. Managing Partners:

Carsten Laschet, Cologne
carsten.laschet@fgvw.de

Dr. Barbara Mayer, Freiburg
barbara.mayer@fgvw.de
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