Monthly Dose of Germany
We would like to share some interesting insights into the German Legal market and recent developments as well as interesting events and publications with you.
Update on sanctions and trade restrictions against Russia: EU further expands existing sanctions regime
In the wake of the latest and brutal developments in the Russian military's invasion of Ukraine, the European Union has imposed further sanctions and trade restrictions. At the center is a ban on imports of coal and other solid fossil fuels.
Ukraine: Claims of German companies and investors – Compensation under German tort law and the investment protection treaty
The Russian war of aggression has led to a humanitarian catastrophe in Ukraine and has a massive impact on the international economy. Assets are destroyed, supply chains disrupted, ongoing businesses disrupted, companies forced into insolvency. Substantial costs are being incurred to repair the damage. German companies and investors are also affected in various ways. The question arises as to whether and to what extent affected companies can demand compensation for the losses incurred from the Russian state as the one responsible and how these claims can be enforced.
Draft bill for the implementation of the EU-Mobility Directive published
New developments regarding "cross-border conversions": With the end of the mandatory implementation period in sight, the German Federal Ministry of Justice (BMJ) has now published the long-awaited draft bill for the implementation of the Mobility Directive (EU) 2019/2121 of November 27, 2019. The draft bill is intended to provide the basis for a reliable legal framework for cross-border conversion processes. In addition, the BMJ draft also includes some novelties for domestic conversion measures. We have had a first look at the changes to come.
Hyperscaler migrations from a legal perspective
Hyperscalers such as Amazon Web Services (AWS), Microsoft Azure, Google Cloud and Alibaba offer a compelling package for scalable data hosting. But migrating your business’s data to a hyperscaler is more than a mere technical exercise, since binding contractual obligations and data protection requirements provide a legal constraint which must be adhered to.
The Challenge: From a legal standpoint, the first question you must answer when migrating data to a hyperscaler is whether, and how, this relates to your legal and contractual obligations vis-à-vis business partners, such as customers or suppliers. In other words: Can you just “go for it” or will a smooth and legally safe migration depend on you informing – or even obtaining prior consent from – the business partners. Unfortunately, those pressing legal questions often come to mind after the decision to “go for it” has already been made and the legal department must find a way to get it done. This article highlights legal issues to be aware of in the context of hyperscaler migrations and outlines a best practice approach Deloitte Legal developed by successfully supporting clients in such a transformation.
Transactions & People News
We at Deloitte Legal Germany have had the opportunity to advise on quite a few transactions and would be happy to discuss opportunities that we see and services that we can offer in the field of M&A, including carve-out transactions, with you. Hereinafter, we would like to provide an overview on a recent transaction that our teams have advised on.
CentralNic Group plc:
Deloitte advises CentralNic Group plc on the successful investment in VGL Verlagsgesellschaft mbH Group (Vergleich.org)
Furthermore, we are delighted to welcome a new partner in our Dusseldorf Office, who joined Deloitte Legal in April 2022:
Deloitte Legal is strengthening its Government & Public Sector (GPS) practice with proven expert Danny Essing, who joins Deloitte Legal from EY Law as a Partner on April 1, 2022.
Deloitte Legal Webcast Series – Archive
In our German language Deloitte Legal Update webcast series, we address current legal issues - both in dealing with COVID-19 and the consequences of the Pandemic, as well as other legal trends and developments that are important for corporate practice.
Topics recently featured in our Webcast Series included, by way of example:
- Ukraine: Claims of German entities and investors against the Russian Federation
- Employment law update: regulations to combat the COVID-19 pandemic | kick-off of works council election period
- Deloitte Legal Webcast Special: Sanctions against Russia – what to consider now?
- Outlook 2022 - Economy, strategy, law - where is the journey heading and what needs to be done now? (download English presentation slides here)
A list of all the webcasts we have already held, including downloads of the German language presentations, can be found here.
Should you be interested in topics discussed during one of our German language Webcasts, do not hesitate to contact the respective presenters – they will be delighted to provide you with additional information in the English language.
Trade restrictions and sanctions against Russia and its allies in response to the invasion of Ukraine
What is important for companies to consider now?
EU further expands existing sanctions regime