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Monthly Dose of Germany: September 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 Polish Desk, headed by Rafael Hertz.
New Judgement of the Federal Court of Justice Court (Bundesgerichtshof) regarding disclosure obligations of (real estate) sellers
In its decision of September 15, 2023, the V. Civil Senate of the Federal Court of Justice (BGH), which is essentially responsible for property law (in particular land law, neighbour law, residential property law), (further) specified the disclosure obligations of a real estate seller.
Specifically, it dealt with the question at which point in time the seller must disclose essential documents in a virtual data room and whether, if applicable, further documents explaining the facts to be disclosed must be disclosed as well as, in principle, the question whether the seller in every case already fulfils his duty to inform if documents are disclosed in a data room by the seller.
New era for NPL service providers
New German Act requires extensive license applications
The draft bill of the Act on Secondary Loan Markets stipulates a licensing requirement for companies that provide services in connection with non-performing loans (NPL). The far-reaching requirements for the license, which are based on the requirements for credit and payment institutions, make it necessary for the companies concerned to prepare themselves now for the application for a license as a credit services institution.
With the German Act on Secondary Loan Markets according to the draft bill of the Federal Ministry of Finance from July 20, 2023, the legislator intends to subject the activities of credit service providers and credit purchasers in Germany to regulatory requirements. The draft bill implements the requirements of Directive (EU) 2021/2167 on credit servicers and credit purchasers and contains a number of organizational and conduct obligations for participants in the market for non-performing loan contracts. Some of these basic regulatory approaches are presented below.
"Monthly Dose" Employment Law: September 2023
Current case law in employment law
The September 2023 edition of our Monthly Dose Employment Law on current case law summarizes the judgments
- of the German Federal Labour Court (Bundesarbeitsgericht, BAG) dated 18 January 2023 on equal pay entitlements for part-time employees in a minor employment,
- of the BAG dated 25 January 2023 on the (unilateral) reduction of the Christmas bonus in the event of continued incapacity for work,
- of the LAG Schleswig Holstein dated 2 May 2023 on the loss of the probative value of a certificate of incapacity for work and
- of the European Court of Justice dated 13 July 2023 on the scope of the obligation to forward the notification of collective redundancies to the authority.
Article by Leonie Grioleit, Dr. Lars Hinrichs, Frauke Heudtlass, Elisa Ultsch, Stefan Weste and Leonie Wüpper.
Read full article here.
Deloitte Legal Tech Fair
Insights into the evolving legal market
The legal market is evolving rapidly in terms of technology, legal operations and what the legal department of the future will look like. The Deloitte Legal Tech Fair 2023 in Düsseldorf provided new and exciting insights into these topics.
We were delighted to welcome so many people interested in legal tech to our Deloitte Legal Tech Fair at our Düsseldorf office on September 12. In addition to numerous discussions at our booth, the presentations and discussions of our experts provided exciting new insights.
For more information and pictures of the event click here: Legal Tech Fair
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 Mitsubishi HiTech Paper Europe GmbH on the sale of its Flensburg paper mill
A multi-disciplinary and multi-location Deloitte team led by Corporate/M&A Partner Andreas Jentgens and Counsel Marc Oliver Stock advised Mitsubishi HiTec Paper Europe GmbH (MPE) on the sale of MPE Flensburg GmbH (MPEF). The buyers are several funds advised by Quantum Capital Partners.
Deloitte Legal advises HANNOVER Finanz on the acquisition of a minority interest in Appmatics GmbH
A Hanover-based Deloitte Legal team led by Corporate/M&A partners Dr. Harald Stang and Dr. Maximilian Habel has advised HANNOVER Finanz on the acquisition of a minority stake in the digital quality assurance expert Appmatics GmbH.
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" webcast we will discuss:
Update Social Partner Model (SPM) - Pure defined contribution before its breakthrough in practice?!
Dr. Lars Hinrichs, Elisa Ultsch and Dr. Klaus Friedrich will explain recent legal developments and initial practical experience with the established Social Partner Models.
Wednesday, 4 October 2023 | 11:00 - 11:45 a.m.
Register here (Webcast in German language)
You can download the presentation of our recent webcast here:
- The new foundation law (Stiftungsrecht) is here: What opportunities does the 2023 foundation law reform create? here (in English language). Nikolaus Malottke, Markus Schmitz and Andrea Kochenbach took a closer look at foundations as an instrument of asset and business succession.
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.
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:
EU Pay Transparency Directive Series | Episode 2: A Client Perspective
Wednesday, 11 October 2023 | 14.00 CEST
Register here (Webcast in English language)
