By Imke Reich, nbs partners
In June 2020, the German payment service provider Wirecard AG filed for the opening of insolvency proceedings after its auditor, EY, had refused to certify the 2019 annual financial statements on the basis of EUR 1.9 billion on the balance sheet that could not be verified. Consequently, the company, which had been a member of the German Share Index “DAX 30” since September 2018, had to leave the DAX 30 in August 2020.
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By Dr Angelika Baumhof and Cathrin Kirchbach, Jakoby Dr Baumhof
The Federal Labour Court (BAG) has ruled that in the absence of a contractual provision on the period of notice in service contracts with managing directors, the statutory provision of § 621 of the German Civil Code (BGB) applies. The decision is surprising, as the Federal Court of Justice (BGH) has so far assumed an analogous application of § 622 BGB (only applicable to employment contracts) in order to protect minor shareholding and third-party managing directors.
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By Sarah Doerr, Moss & Barnett
A recent wave of lawsuits brought under the Fair Credit Reporting Act (FCRA) seeks to address alleged “inaccurate reporting” by debt collectors and creditors. These lawsuits follow one of two trends.
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By Buck Grizzel, Stuarts Walker Hersant Humphries
There are several options for residency in the Cayman Islands. These include the following:
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By John T. Alfonsi, Cendrowski Corporate Advisors
Economic damages experts often assume liability, i.e. that the defendant’s alleged wrongful conduct, in fact, occurred. Causation of injury is a legal issue that is addressed by the plaintiff’s legal counsel. Causation of damages, however, is an issue the damages expert must address in their determination of damages to lend credibility to their opinion or prevent their testimony from being excluded.
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