Article
Monthly Dose of Germany: December 2023
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. This edition of our "Monthly Dose of Germany" is presented by our China Desk, headed by Dr. Michael Fischer and Alexander Fischer.
Get ready for 2024
As the new year approaches, it is time to address the changes it will bring. Numerous legislative updates and new laws are presenting companies with new challenges. Some of the amendments are already in effect, while others are due to come into force at the turn of the year.
This article is a summary of our "Get ready for 2024" webcast on December 13, 2024, in which we presented a brief update on a selection of key new regulations and provided an overview of the key new obligations that companies and their decision makers will need to prepare for.
In particular, it focuses on the following topics:
- Act on the Modernization of Partnership Law (MoPeG),
- EU Foreign Subsidies Regulation,
- Whistleblower Protection Act,
- Financing the Future Act
- Supply Chain Due Diligence Act
Anti-Money Laundering Compliance: Notification obligation to the German transparency register for registered civil law partnerships as of 1 January 2024
With entry into force of the Act to Modernise the German Law on Partnerships (MoPeG) on 1 January 2024 a new public register for German civil law partnerships will be introduced. In case a civil law partnership (GbR) registers itself in the newly established public register, it will subsequently also be obliged to notify its beneficial owners to the German transparency register.
The article addresses:
- Overview and background
- Notification obligations to the German transparency register
- Current legal situation: No notification obligation to the German transparency register for civil law partnerships
- New legal situation regarding the „ registered civil law partnership” (eGbR) as well as transparency register publicity for registered German civil law partnerships (eGbR)
- Conclusion and recommendation
Artworks on tour: Is security interest also along for the journey?
Nowadays, highly specialized, global art logistics companies move masterpieces of art all over the world with incredible speed. But does the security interest in these artworks also accompany these journeys?
Given the international nature of the art business, demand for artwork transport is high: art houses, galleries, auction houses, art dealers, collectors or even family offices trade in artworks worldwide, loan them for exhibitions across borders, and exhibit them for sale at international art fairs. However, these artworks often also serve as loan collateral for art-based financing. Whenever works of art encumbered with security interests embark on a journey, secured parties often ask whether their security interests are still valid abroad. For creditors of secured receivables, and lenders in particular, it is vital they retain their security interest when an artwork serving as collateral is exhibited abroad and, if necessary, can claim this collateral item.
The article addresses:
- National law: law of the host state
- Converting security interest after artworks cross the border
- Requirements of contractual provisions
"Monthly Dose" Employment Law: December 2023
Current case law in employment law
The December 2023 edition of our Monthly Dose Employment Law on current case law summarizes the following judgments of:
- the Federal Labour Court (Bundesarbeitsgericht, BAG) on the deletion of the “thank-you formula” in the reference letter as a prohibited measure,
- the Higher Regional Court (Oberlandesgericht, OLG) of Munich on the invalidity of the contractual limitation of variable remuneration for a managing director to the duration of the appointment to the executive body,
- the Higher Labour Court (Landesarbeitsgericht, LAG) of Cologne on the entitlement to a sales based bonus payment on the basis of the principle of equal treatment under employment law in the case of jumper activities,
- the LAG Niedersachsen on the ordinary termination of a works council member in a matrix organisation and
- the LAG Hessen on the unlawfulness of a ban on the works council chairman.
Article by Elisa Ultsch, Dr. Lars Hinrichs, Frauke Heudtlass, Leonie Grigoleit and Theresa Bayer
Read full article here.
Transaction News
We at Deloitte Legal Germany are constantly advising on numerous complex transactions and challenging projects.
We would be delighted to explain our services portfolio to you and discuss with you how we at Deloitte Legal Germany can assist you with your projects, whether in the field of Corporate Reorganizations, M&A transactions, including carve-outs, general commercial, employment law, IT/IP or LMC/LMS. Just reach out to us!
In order for you to better understand how we have helped other clients, we would like to hereinafter showcase information on two projects that our teams have recently advised on.
Deloitte Legal advises Experience Brands on the sale of Hess GmbH Licht + Form to the French Ragni Group
With a cross-location team led by Hamburg partner Frank Tschentscher, LL.M. (Business Recovery), Deloitte Legal provided comprehensive advice to the international Experience Brands Group on the sale of its German subsidiary Hess GmbH Licht + Form to the French Ragni Group.
Deloitte Legal advises HANNOVER Finanz on its investment in the climate tech company PAUL Tech AG
A Hannover-based Deloitte Legal team led by Corporate/M&A partners Dr. Harald Stang and Dr. Maximilian Habel advised HANNOVER Finanz on its investment in PAUL Tech AG (PAUL), based in Mannheim, as part of a growth financing with a total volume of EUR 40 million.
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.
You can download the presentations of our recent webcast here:
- Equal pay and pay transparency 2023 here. Dr Lars Hinrichs, Peter Devlin and Elisa Ultsch gave an update on the Pay Transparency Directive and the amendment of the Pay Transparency Act and took a closer look at:
- Status quo and telos of the legal framework
- Pay Transparency 2.0: Changes to the German Pay Transparency Act (EntgTransG) due to EU Directive 2023/970 (EntgeltT-RL 2023)
- Impulses for the current needs-based, gender-neutral design of remuneration systems
- Suitable (compensation) instruments to ensure legally compliant and needs-based equal pay governance
- Get ready for 2024 here. Dr. Julia Petersen, Bettina Mertgen, Dr. Hendrik Breimann and Anna Reshetina-Korkhova provided us with an overview on some of the most important new regulations to be complied with by German companies in 2024:
- Act on the Modernization of Partnership Law (MoPeG)
- EU Foreign Subsidies Regulation ("FSR")
- Whistleblower Protection Act
- Future Financing Act
- Supply chain due diligence law
- Implementation of the global minimum tax
In our Webcast Archive, you can find a list of previous webcasts and also download the corresponding presentations.
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.
Fraud & Compliance Breakfast
Additional appointments: Do you still have your Chinese entity under control? Regulatory and control challenges after the pandemic
January and February 2024 | 10:00-13:00 a.m.
Due to the great interest in our first event, we are now offering our Fraud & Compliance Breakfast in Stuttgart, Düsseldorf, Munich and Hanover.
Our interactive Fraud & Compliance Breakfast aims to present first-hand experience and market insights. We will introduce regulatory changes and challenges and present you “real life” cases that help you recognize red flags in terms of fraud and prevent it in your Chinese subsidiary.
EMEA Dbriefs Legal Webcast Series
The Dbriefs Legal webcast programme for Europe, the Middle East and Africa help you gain insights on key legal trends and critical issues affecting your global business operations.
The upcoming "Dbriefs Legal" webcast will discuss:
Global Engagement Model Developments And The Key Employment Law Issues
Wednesday 24 January 2024, 12.00 GMT/13.00 CET
Register here (Webcast in English language)
Register here
