Monthly Dose of Germany

(Sound) Compensation @ Nachweisgesetz 2022

The new version of the Act on Notification of Employment Conditions (Nachweisgesetz, “NachwG 2022”) came into force on 1 August 2022. In practice, the implementation has so far primarily focused on obligations to provide evidence that are newly regulated under the NachwG 2022 (including the instruction to work overtime, the probationary period, work on call and the procedure in the event of termination of the employment relationship). In addition, the NachwG 2022 contains expanded requirements regarding the obligation to provide evidence of the remuneration components granted in an employment relationship (including the operational pension scheme). In this Client Alert, we discuss the relevant practical implications.

Transactions 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.

Sale of music label Telamo to BMG:
A multidisciplinary team of Deloitte and Deloitte Legal advised the majority shareholder of Telamo, artcom-Gesellschaft für Kommunikation mbH ("artcom"), comprehensively in the areas of financial valuation, in all legal (partly also tax law) issues of the transaction and was able to ensure efficient advice from one source due to the cross-divisional cooperation.
More information

Deloitte Legal Webcast Series

In our German language Deloitte Legal Update webcast series, we address current legal issues and developments that are important for corporate practice.

In our upcoming "Legal Update #11/2022" webcast we will discuss:

• Update on the amendment to the Evidence Act: Essential changes, future obligations, potential sanctions and concrete need for action. Deep dive on the impact on occupational pension schemes | Wednesday, 29 June 2022 | 11:00 - 11:45 a.m. Register here (Webcast in German language)

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.

Legal on Air Podcasts

This year, we are continuing our podcast "Legal on Air summer trip" during the summer months. Our country desk representatives discuss topics such as supply chains, mobility guidelines and much more with their international colleagues.

The latest episodes featured the following topics and country desks:

• Israel Desk: In our final “Legal on Air” episode, Dr. Mathias Reif (Germany) talked with his legal colleagues Hili Cohen, Eyal Bar-Zvi, and Simcha Koevary from some of the best-known and most renowned law firms in Israel. In this context, country-specific differences between Germany and Israel in terms of commercial/trade law and how they need to be considered in international cooperation will be highlighted. In particular, digitalization and its implication for trade as well as economy will be addressed.
• Japan Desk: The EU company law package and the implementation of the cross-border reorganization directive are to be transposed into the national law of the respective member states shortly. But what does this law mean for EU law and the global mobility of companies in Europe? The experts Go Yonemura (Japan) and Andreas Jentgens (Germany) talk about these issues and how Japan is affected.
• China Desk: In the China Desk episode of our Summer Special Podcast series, Dr. Michael Fischer and Alexander Georg Fischer address the economic region of China. They discuss, in particular, China's strict COVID control strategy and its impact on international supply chains. Combined with Alexander Georg Fischer's exciting insights of his experiences abroad, this episode provides a fascinating glimpse into life during and after China's COVID shutdown.
• Scandinavian Desk: The German coalition agreement of November 2021 stipulates legislative changes regarding codetermination laws in Germany. These changes will not only affect German firms, but also Scandinavian corporations with German subsidiaries or with participation in German companies. In this episode, our experts Volker Schulenburg and Heike Humpert discuss the future of German codetermination laws and highlight the ramifications of these changes for businesses.

All podcasts - including the first episodes of our "summer trip" (Spanish Desk, Czech Desk and French Desk) are available via SoundCloud, Apple Podcasts and Spotify: Legal on Air Podcasts