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The international law firm Debevoise & Plimpton LLP presents a brief overview of the most significant developments in Russian legal regulation (including legislative initiatives) and court practice in the real estate, construction and infrastructure sectors in the first half of 2017.

The Constitutional Court of Hungary made a decision in July 2017 that the provisions concerning the applicability of tax registration procedure do not infringe the principle of non-retroactivity.

In order to ease the sophisticated and multifaceted disputes of today’s market; arbitration is started to become a widely selected resolution method also in Turkey similar to the global market; especially due to its concept of customizability, speed and efficiency. As each commercial transaction possesses a unique nature in terms of its components and conditions; the one who concludes complex transaction should be preferring arbitration; a tailor-made method of alternative dispute resolution. 

Foreigners acquiring ownership of agricultural land in the Republic of Serbia.

Preserving confidentiality is always a top priority for a successful business, especially if you have an advanced R&D department. Taking into account the need to freely transfer information on the one hand and the strict necessity to preserve the safety of personal data and databases on the other, the issue of confidentiality becomes even more important.

Leasing of employees – a situation in which employment agencies hire employees and act as their formal employers and then lease them to perform actual work for their client companies – has become a frequent phenomenon in Serbia the past few years. 

In the present economical context, which often favors the migration of the employees from one company to another, the only tool left for employers seeking to prevent em-ployees from working for competitors after leaving their companies is to include non-competition clauses in employment contracts.

Employment relationships require special protection both at European and national levels. Although largely enshrined in European legislation, those protections remain subject to modifications to ensure efficiency and security of the employment process. 

The National Assembly of Slovenia has adopted the new Transnational Provision of Services Act regarding the posting of workers (the “Act”). The Act, which is scheduled to come into force on January 1, 2018, implements European Enforcement Directive 2014/67/EU and imposes new conditions for employers posting workers to and from Slovenia.

An extensive amendment to the Labor Code currently under discussion in the Czech Parliament is scheduled to become effective on July 1, 2017, although the effective date might be postponed due to certain delays in the legislative process. 

Currently, a heavily-discussed topic in Slovakia is the “overkilling” interpretation and application of the concept of illegal employment by state authorities. In Slovakia, illegal employment does not only cover the classical scenario of the factual employment of a worker without the proper establishment of a labor-law relationship, but also a situation where the employment contract was duly executed, but the employer did not register the employee in the country’s social insurance system until the employee actually commenced working. 

The Turkish Law on Human Rights and Equality Institution of Turkey (the “Law”) entered into force on April 20, 2016, replacing its predecessor (the Law on Turkish Human Rights Institution).

In pursuit of solutions to the problem of unemployment and the flexibility of the labor market, Lithuania has endorsed a new Labor Code, which will come into force on July 1, 2017. The main objectives of the new legislation are to adapt the country’s laws to reflect progress in the market and to allow more liberal labor relations between employers and employees. The changes are intended to facilitate job creation, reduce the unemployment rate, ensure clarity in labor relations, and make the Lithuanian market more attractive to investors. 

On January 1, 2017, a number of new provisions in Polish labor law came into force introducing some sig-nificant changes for employers and employees and, to a certain degree, for persons hired on the basis of contracts for work and service contracts. 

The development of modern technologies and the growing role of electronic documents in commercial relations influence the employment sphere, among others. Companies increasingly use electronic employment agreements and electronic policies, which increases the efficiency of employment paperwork turnaround. However, the positions of Russian employment law and the courts on electronic employment documentation are not uniform. 

A number of changes to the Labor Code expected to come into force on July 1, 2017, will not do so. These amendments to the Code – which were submitted to the President of the Parliament by the head of the Economic Committee – would primarily have affected work-time scheduling provisions, making the Labor Code more sensitive to the needs of the improving economy and changing labor market. According to Parliament, the amendments would have significantly improved production for businesses over a period of six to seven years. 

Almost nine years since the onset of the Greek debt crisis, the country’s deep and prolonged recession has led to a substantial decline in ordinary financial activity and has swept away a quarter of Greece’s Gross Domestic Product (GDP), an aftermath usually observed in times of war. 

As the first half of 2017 draws to an end, dispute resolution in Poland continues to face dynamic changes. This is due to numerous pieces of legislation being implemented as well as certain policy issues of the ruling party. We focus in this article on several trends or changes that our clients are struggling with or which might affect businesses in the foreseeable future.

The Polish Act on Temporary Employees dated July 9, 2003 (Journal of Laws of 2003, No. 166, item 1608, as amended) has been in force since 2004. The Act contains many flaws, however, resulting in the unequal treatment of temporary employees compared to employees hired directly under employment agreements.

Almost a year and a half after Poland’s Restructuring Law entered into force, introducing a clear separation between restructuring and bankruptcy, now is a good time to review its affects.

The OECD’s Base Erosion and Profit Shifting (BEPS) Project 

A few years ago OECD and G20 Leaders noticed that the international tax landscape had changed dramatically. The financial crisis and aggressive tax planning by multinational enterprises had resulted in significant losses to state budgets, and perceived tax evasion had become part of the political agenda. Consequently, joint actions were taken to increase transparency and the cross-border exchange of information in tax matters and to address the weaknesses of an international tax system that had created opportunities for questionable tax tactics.

On May 17, 2017, a governmental draft of the act on actions for damages caused by in-fringements of Competition law (the “Private Enforcement Act”) was approved by the upper house of the Polish parliament. It is now awaiting the presidential signature. Alt-hough this legislative proposal was forced by EU Directive 2014/104/EU (the “Private En-forcement Directive”) and it mostly transposes its provisions into Polish law, it also intro-duces revolutionary changes to the law of delicts and the corresponding civil procedure.

The new Payment Services Directive (PSD2), scheduled to enter into force on January 13, 2018, will change the established business models in the payment market. This is due to new types of payment services and new rules which oblige banks to assist third party providers (TPP) in accessing their accounts and initiating payment transactions. Much depends on how PSD2 will be transposed into national legislation, a process which should be completed by January 13, 2018.

The corporate bond market in Poland has continued to develop steadily throughout recent years and experienced marked growth in 2016. This is mainly due to the fact that the whole market continues to function in an environment of low interest rates.