Denmark Legal Update Q3 2021
Kromann Reumert provides you with insight into the latest legal news in Denmark across practice areas and industries. In this edition we keep you updated on some of the most relevant news in Q3 2021.
New executive orders clarify the scope of the FDI screening rules in Denmark
Three executive orders under the Investment Screening Act have now been promulgated. Below is a summary of the executive orders, which i.a. define "particularly sensitive sectors" in greater detail and introduce certain exemptions from the notification requirement, including in connection with the formation of new companies (greenfield investments) and intra-group investments. The Investment Screening Act and the executive orders together provide the regulatory framework for screening of foreign investments in Denmark.
Published 5 July 2021
Danish Competition Appeals Tribunal: Hugo Boss' information exchange was unlawful
On 23 June 2021, the Danish Competition Appeals Tribunal upheld the Danish Competition Council's two decisions concerning Hugo Boss' unlawful exchange of sensitive information with Kaufmann and Ginsborg. The decisions illustrate that a company active in both the wholesale and retail markets must be particularly careful about the information they share with distributors. The cases have now been reported to the Danish State Prosecutor for Serious Economic and International Crime.
Published 9 July 2021
No Danish dividend tax refund to foreign investment funds
The Danish Supreme Court has ruled in favour of the Danish Revenue and denied refund of Danish dividend taxes to foreign investment funds in the so-called Fidelity Fund case. Even though the Court of Justice of the European Union has previously concluded that the Danish rules constituted a restriction, the foreign investment funds were held not to meet the Danish requirements for exemption from dividend withholding taxes.
Published 10 August 2021
Summary of the new rules on employee liabilities
In March 2021, the Danish Parliament adopted new rules on restructuring. The amendments to the Danish Bankruptcy Act entered into force shortly after, while the rules on employee liabilities became effective on 15 August 2021. Below is a summary of the new rules on employee liabilities.
Published 18 August 2021
Life Science Update: August 2021
Welcome to this first edition of Kromann Reumert's Life Science Update. In the following, we provide an overview of recent legal updates that will have a bearing on the life science industry across Europe, with a particular focus on Denmark.
Published 23 August 2021
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