Legal news

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    One and the same person in a double executive/supervisory role at a joint-stock company?

    Czech Republic: As of 1 January 2014, joint-stock companies may elect to use the one-tier governance model The new private law has arrived, and with it a new option for joint-stock companies to opt for the one-tier system of corporate governance under which a corporate executive officer and an

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    What to do with the statutory reserve?

    Czech Republic: As of 1 January 2014, limited liability companies and joint-stock companies are no longer obliged to create a statutory reserve. As of 1 January 2014, matters of corporate governance are addressed by the Corporations Act, which (save for a few special cases) does not require limited liability companies or joint-stock companies

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    New leasing industry regulations

    Belarus: Presidential Decree amending regulation of leasing in Belarus enters into force on 1 September 2014. New Presidential Decree No. 99 dated 25.02.2014 empowers the Belarus National Bank to regulate and control leasing. Under the new rules, leasing companies must be entered by the National Bank

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    Change of law on foreigners

    Poland: Simplified procedure for obtaining temporary residence and work permit plus longer validity periods as of 1 May 2014 In December last year the Polish parliament adopted a whole new law on foreigners. Coming into force on 1 May 2014 this will replace the old law of 2003. In

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    Realistic Possibility to Bring Class-action Suits

    Lithuania: A new way to defend group rights. A real possibility to bring class action suits will appear on 1 January 2015 when new amendments to the Code of Civil Procedure ("CCP") enter into force. So far the law has not provided a mechanism to handle these actions. The

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