Tiesību aktualitātes

The basic duties of entrepreneurs include bookkeeping and annual preparation, approval and filing of financial statements. Statutory bodies have to present their financial statements for approval to the shareholders' meeting. Financial statements are filed with the Register of Financial Statements (Register). If the shareholders' meeting does not approve the financial

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 possibility

Latvia: The struggle by the Parliament and the courts against onerous and disproportionate contractual penalties was a feature of 2013; below we review the most important changes in this regard. The Civil Law amendments are the first results of this battle. Notably,

he rules on contracts between businesses and consumers will change significantly in June 2014 due to entry into force of the new Hungarian Civil Code. Retail businesses should review their standard business terms to bring them in line with legislation. Under the new rules, consumer rights will be stronger. For

Czech Republic: As of 1 January 2014, legal entities may serve as elected members of corporate bodies The new civil law has made it possible that legal entities (e.g. another company or a cooperative), may become the managing director or a board