The minimum mandatory dividend: article 348 bis of the Spanish Corporate Enterprises Act

The minimum mandatory dividend: article 348 bis of the Spanish Corporate Enterprises Act

Article 348 bis of the Corporate Enterprises Act entered once again into force on January 1st, 2017. Its reactivation implies the possibility for companies’ shareholders to request the distribution of, at least, one third of the legally distributable profits arising from the company’s main business activities and, if this distribution ... Read More »

New urban development; further developments

New urban development; further developments

In a judgment dated 15 March 2017 (ECLI:NL:RVS:2017:694), the Administrative Law Division of the Council of State gave an interesting decision concerning the sustainable urbanisation ladder and the requirements stipulated for the need for a development. Several building supply stores and the owner of a nearby industrial park argued in ... Read More »

Directors’ liability of a second-degree director: piercing the corporate veil 2.0

Directors’ liability of a second-degree director: piercing the corporate veil 2.0

On 17 February 2017, the Supreme Court delivered an important judgement stating that Article 2:11 of the Dutch Civil Code (the piercing of the corporate veil liability to the natural person behind the legal person-director) applies in all cases where a legal person in its capacity of director is liable ... Read More »

Lost chance and medical liability: the Supreme Court expresses itself (for the first time)

Lost chance and medical liability: the Supreme Court expresses itself (for the first time)

Introduction In its Judgement of 23 December 2016, the Supreme Court expressed itself for the first time on the doctrine of lost chance in a medical liability case. The direct object was a child who, despite treatment by the Erasmus MC, became blind shortly after birth. After more than 13 ... Read More »

Reasoned opinion of the European Commission against the fines charged in Spain for failure to fill the tax declaration on assets held abroad

Reasoned opinion of the European Commission against the fines charged in Spain for failure to fill the tax declaration on assets held abroad

After the claims filed in November, 2015, by foreigners residing in Spain, the European Commission has recently issued a reasoned opinion requesting Spain to change its rules on assets held in other EU or the European Economic Area (EEA) Member States (so-called “Modelo 720”), as the fines charged for failure ... Read More »

A banned substance in animal feed can be reason to impose an administrative fine

A banned substance in animal feed can be reason to impose an administrative fine

If the inspectors of the Netherlands Food and Consumer Product Safety Authority (NVWA) discover a banned substance in animal feed, the State Secretary of Economic Affairs, Netherlands Enterprise Authority (RVO) can impose an administrative fine on the basis of the Animals Act (Wet dieren). On the basis of sections 2.17 ... Read More »

New Corporate Governance Code – the most important changes

New Corporate Governance Code – the most important changes

On 8 December 2016, the Corporate Governance Code Monitoring Committee (the ‘Committee’), published the revised Corporate Governance Code (the ‘Code’). The most important changes relate to the focus on long-term value creation and the introduction of culture as an element of good corporate governance. The Code has also been simplified ... Read More »

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