European Union

The European Court has issued a sentence of special relevance for the operation and effectiveness of the “pre-pack” insolvency procedures. Specifically, it clarifies the requirements that must be met to respect the rights of workers in the event of business transfers.
What are the consequences of a settlement procedure where all the companies reach agreement with the authority conducting the investigation phase except one? Could the latter be harmed by not reaching an agreement? How does the principle of presumption of innocence apply given that the other participants in the infringement have already admitted to the facts? In this article, we identify the risks and disadvantages created by the so-called hybrid process and we will see that these can hardly be fully mitigated.
The European Court of Justice affirms that penalties imposed for failure to comply with the obligation to provide information are disproportionate and that a law may not allow no statute of limitations to be pleaded in relation to overseas assets and rights simply due to failure to comply with a procedural obligation (judgment of January 27 2022 in case C-788-19).
These proposals, presented on December 22, 2021, have their respective origins in the work of the OECD and G20, for the implementation of a global minimum tax rate (known as Pillar 2) and in the communication on business taxation for the 21st century (revision of the ATAD Directive to include measures to counter shell companies).
The European Parliament gave its support to the pharmaceutical strategy for Europe, by resolution on November 24, 2021. Two main driving forces behind this strategy, adopted by the European Commission on November 25, 2020, are to support industry in promoting research and to address certain market failures. The aim is to create a regulatory framework for the future.