31 Oct
Member News

Germany: Update on Social Selection in Dismissal Cases

If the employment relationship comes under general protection against dismissal, a dismissal pursuant to the German Act on Protection Against Unfair Dismissal (KSchG) is justified if it is necessary due to urgent operational requirements. But even if these reasons are on hand and continued employment at the establishment or company is not possible, the employer generally may not select and dismiss his employees at his free discretion. On the contrary, he has to carry out a so-called social selection....

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31 Oct
Member News

The European Commission publishes proposals on the common corporate tax base directive, the common consolidated corporate tax base directive and amendments to the anti-tax avoidance directive

On 25 October 2016 the European Commission presented 3 new proposals for Council directives. The first proposal amends the anti-tax avoidance directive (ATAD) as regards hybrid mismatches with third countries, while the other two have relaunched the Common Consolidated Corporate Tax Base proposal of 2011 which has been split into 2 parts: a proposal for a Common Corporate Tax Base (CCTB) and a proposal for a Common Consolidated Corporate Tax Base (CCCTB). The CCTB/CCCTB proposals are at the early stage...

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28 Oct
Member News

New Non-Traded REITs Enter Dry Spell

According to The DI Wire, Cantor Fitzgerald is launching a $1 billion non-traded REIT called Rodin Global Property Trust Inc. Rodin intends to focus investments to single-tenant, net-leased commercial properties located in the US, the UK and other countries in Europe. The firm is offering three classes of common stock: class A, class T and class I shares. The Blackstone Group also launched its first non-traded REIT, Blackstone Real Estate Income Trust, back in August. The Wall Street Journal> reports...

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28 Oct
Member News

The SEC’s Aggressive Stance On Employee Agreements

In just over a six-week span, the U.S. Securities and Exchange Commission has fined three different companies for employee agreements that, in its view, could impede individuals from communicating with the commission about securities law violations. The SEC’s prioritization of this issue, combined with its incredibly expansive interpretation of its rule, places companies at a heightened risk of SEC scrutiny based on standard employee, consultant, vendor, confidentiality, separation and other agreements. SEC Rule 21F-17 provides that “No person may take...

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28 Oct
Member News

James D. Rosener Named President of Corporate Law and Mergers and Acquisitions Commission for UIA

  James D. Rosener, a partner with Pepper Hamilton, head of the firm's International Practice Group and managing partner of the New York office, has been named as President of the Corporate Law and Mergers and Acquisitions Commission of the Union Internationale des Avocats / International Association of Lawyers (UIA). The UIA boasts more than two million members from over 120 countries. The organization is open to lawyers around the globe and its members include legal professionals, judges, law students and teachers. Part of...

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28 Oct
Member News

FCC Orders Far-Reaching New Privacy and Data Security Rules

As expected, the Federal Communications Commission (FCC) has handed down sweeping new privacy and security rules for Internet service providers (ISPs). On Thursday, October 27, 2016, a sharply divided commission voted to enact these new rules, which impose strict new requirements for ISPs' collection, use, sharing, and protection of their customers' information, including information ISPs receive about their customers' geolocation and online activities. Consequently, ISPs will soon be subject to heightened notice and consent requirements for activities such as behavioral...

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27 Oct
Member News

USCIS Will Begin Accepting Cap-Subject H-1B Petitions for FY2018 in April 2017

U.S. Citizenship and Immigration Services (USCIS) will accept new H-1B petitions subject to the annual quota for fiscal year 2018 (FY2018) starting in April of 2017 (April 1, 2017 falls on a Saturday, so USCIS will accept cap-subject petitions for the year starting on the following business day, Monday, April 3, 2017). Employers may want to begin identifying current and future employees who may require new H-1B visas to work in the United States. Individuals currently holding F-1 student...

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27 Oct
Member News

News Update Netherlands – EU

Tax Rulings and state aid: an update On 19 September 2016, the Commission opened another in-depth investigation in a tax-related matter, namely into Luxembourg's tax treatment of the GDT Suez Group (now Engie). The Commission is concerned that several tax rulings may have given GDF Suez an unfair advantage over other companies, in breach of EU state aid rules. The tax rulings appear to treat the same financial transaction between companies of GDF Suez in an inconsistent way, both as...

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27 Oct
Member News

CMS European Real Estate Deal Point Study 2016

2015 was another record year, with the deal value of the European investment market reaching an unprecedented high of almost EUR 250bn. Highest growth was in Germany, where deal values were almost EUR 55bn. At around 30%, Europe's share of the global real estate investment market remained broadly unchanged. As the present year progresses, we see the greatest migration to Europe for a century across a fragile Schengen zone, interest rate rises in the US, a US presidential election with...

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27 Oct
Chapter News

EUR 1 billion mark reached as the EU steps up support for micro-entrepreneurs

Since the EU started its microfinance initiatives, more than 100 agreements have been signed with microfinance providers, to support over 100,000 micro-entrepreneurs in 23 EU member states. This cooperation between the European Investment Fund (EIF), the European Commission, and microfinance providers aims to mobilise over EUR 1 billion of microfinance loans for micro-borrowers across the EU under Progress Microfinance and the EU Programme for Employment and Social Innovation (EaSI). Target borrowers include unemployed micro-entrepreneurs, young self-employed, minority groups, women and...

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