European Union updates

Arbitration & ADR

Is effective intra-EU investment protection ending?
Skadden Arps Slate Meagher & Flom LLP
  • European Union
  • 02 May 2019

In January 2019 EU member states issued statements with wide-ranging effects for intra-EU investment protection. All member states pledged, among other things, to terminate intra-EU bilateral investment treaties (BITs) by 6 December 2019 and instruct investors not to initiate any new intra-EU investment arbitration proceedings under BITs. This article sheds light on the background of this development and its potential impact on investment protection.


Aviation

EASA AOC: to cert or not to cert?
Arnecke Sibeth Dabelstein
  • European Union
  • 17 February 2021

EU Regulation 2018/1139 enables airlines that operate in more than one EU member state under multiple air operator certificates (AOCs) to obtain a European Aviation Safety Agency (EASA) AOC. The EASA AOC enables airlines which have aircraft registered in different European cities to report to a single competent authority in relation to safety oversight and certification, which may significantly reduce costs.

COVID-19: non-application of reimbursement obligations under EU Flight Delay Compensation Regulation
Augusta Abogados
  • European Union
  • 15 July 2020

The spread of COVID-19 has had a significant impact on air traffic. The result of this once-in-a-century pandemic has been the global collapse of air travel. This has obviously led to a large number of complaints from affected passengers. This article looks at non-application of reimbursement and compensation claims under the EU Flight Delay Compensation Regulation in this context.

New EU regulation on drone operations set to take off in December 2020
Augusta Abogados
  • European Union
  • 17 June 2020

The EU unmanned aircraft system (UAS) industry will face a new challenge as of 31 December 2020 when most of the EU Implementing Regulation on the rules and procedures for the operation of unmanned aircraft enters into force. The new regulation will replace most of the existing domestic provisions on UAS operations in EU member states. This will see the homogenisation of UAS-related legislation, reducing the variety of operational requirements, obligations and restrictions between EU member states.


Competition & Antitrust

Role of competition law in moving towards a more sustainable world
Schoenherr
  • European Union
  • 11 February 2021

With the topic of sustainability moving up the global political agenda, there is an increasing need for competition policy to respond. Competition law should not pose an obstacle to companies' genuine collective sustainability initiatives. Rather, it should facilitate and encourage them, based on their ability to invest and innovate, to embrace their wider responsibilities to society by internalising negative externalities and truly contribute to a sustainable future.

Does competition law allow competing researchers to collaborate on COVID-19-related R&D?
ALTIUS
  • European Union
  • 23 April 2020

New vaccines, quick and trustworthy diagnostic tests and effective medicines are key to tackling the COVID-19 pandemic. The development of these products depends on pharmaceutical companies, R&D companies, research institutes and universities. However, one question remains: what are the competition rules regarding COVID-19-related R&D?

European Commission report on competition policy for digital era – key takeaways
  • European Union
  • 20 June 2019

The European Commission's report 'Competition policy for the digital era' is its most substantial step yet towards crystallising the dialogue on the question of how competition law could or should adapt to the rapidly changing technological landscape and the growing role of the digital economy. However, while the report touches on a wide range of ideas and proposals, it openly notes that not all of these are developed in detail or go beyond "very preliminary" conclusions.


Corporate Finance/M&A

The perfect time to be a buyer?
Schoenherr
  • European Union
  • 24 February 2021

During economic downturns, valuations drop and dealmakers rightly expect a shift from a sellers' to a buyers' market. It is uncertain whether this will prove to be true for the COVID-19 recession. This article highlights how in-house M&A strategists can navigate present acquisition challenges and looks ahead to what the European M&A market may look like in the years to come.


Corporate Tax

European Union tightens net on e-commerce VAT evasion
Elias Neocleous & Co LLC
  • European Union
  • 31 January 2020

Tackling e-commerce fraud is high on the European Union's political agenda, with significant effort being put into creating new rules to combat value added tax fraud in particular. An important step in this regard has been the introduction of a significant number of changes to the existing rules on e-commerce taxation.

Changing ECJ case law on input VAT deductions for holding companies
  • European Union
  • 27 September 2019

For many years, tax authorities have rejected holding companies' right to deduct input value added tax; however, the European Court of Justice has issued several decisions that have enabled a slow but unequivocal paradigm shift towards so-called 'active' or 'mixed' holdings (ie, holding companies which are directly or indirectly involved in the management of subsidiaries and provide them with taxable services). This article examines the most important decisions in this regard.

EU directive on administrative cooperation in field of taxation amended
Elias Neocleous & Co LLC
  • European Union
  • 16 August 2019

The European Union has added further impetus to its objective of providing greater transparency with regard to harmful tax practices through an amendment to EU Directive 2011/16/EU. The directive has introduced the mandatory reporting of cross-border arrangements that are indicative of potentially aggressive tax planning. The relevant disclosure requirements must be followed by intermediaries and, in some instances, taxpayers.