Newsroom / News / Media / Info Magazine LGP NEWS 01/2021

Info Magazine LGP NEWS 01/2021

Info Magazine LGP NEWS 01/2021

Dear readers, dear clients, dear friends!

We are an international business law firm that sympathises with the fate and concerns of our clients. We see the serious consequences of this pandemic on our clients‘ businesses every day. And we feel the high level of uncertainty with regard to the ability to plan and predict processes, which has arisen and continues to arise as a result of the pandemic and its political handling. However, we also see many clients who make a virtue out of necessity and find the right way for their industry to adapt their products and services to the “new times”. We support them extensively in this. We work every day with our team of experts to shed as much light as possible, or – in other words – we try to offer guidance in difficult times. 

We also succeed in this on a daily basis. Like many others in this country and internationally, we have become involuntary experts on this new situation. A few days before the first lockdown, we already created our regular Corona FAQs and started our cooperation with the online platform of the business magazine trend. We receive excellent feedback for our content on social media channels and are represented on Facebook, LinkedIn, Instagram and also, for the younger generation, on TikTok

The pandemic makes it easy to forget that there are big fateful issues that have currently been unjustly overshadowed: a digitalisation offensive in the world of work, consequences of climate change and also political and economic changes in the international economy that are making our location in Europe weaker, not stronger. We will address these future topics in more detail in the next issues. 

At the same time, we are experiencing a European Union that, from the point of view of many economic participants and those affected, does not have the strength that we would wish for in order to be able to survive in geopolitical competition. 

What is needed at this time – as we believe and also live by example every day – are advisors who see the whole picture. Advisors who have excellent knowledge of the Austrian and international legal system. Advisors who also understand that the law is only one part of a solution approach that deserves attention when questions and problems arise. We are guided by the conviction that we owe you holistic solutions. We do this with our Austrian and international team of experts – and especially at the interface of law, economics, technology and politics. 

We therefore wish you, our friends and clients, to find the best strategies to solve these upcoming issues and, of course, good health and success to all of us. 

Dr Gabriel LanskyAttorney-at-Law and Managing Partner

If you would like to receive this issue in printed form, please send us an e-mail to

Here you find the new issue as PDF:


You can find older issues as PDF here:

Read #02/2020 ("FOCUS ON REGULATION")

Read #01/2020 (THE COVID-19-CRISIS)

Read #02/2019 ("DISRUPTION")

Read #01/2019 ("BITCOIN & BLOCKCHAIN")

Read #01/2018 ("EU STRATEGIC TALKS")

Individual freedom vs. state regulation

Extensive state interventions in fundamental freedoms and in economic life have reignited a smouldering debate about the relationship and the right balance between state interference and personal or economic freedom. A conversation between law firm founder Gabriel Lansky, constitutional lawyer Heinz Mayer and economic researcher Stephan Schulmeister

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Putting the 2019 EU Banking Package into practice in Austria

The 2019 EU Banking Package represents an important step towards completing the reforms of the regulatory framework that were set in motion in the wake of the global financial crisis of 2007/2008. New EU regulations and EU directives have led to extensive changes to existing regulations, which need to be transposed into national law by the individual member states. A guest article by FMA Executive Director Helmut Ettl

New licensing requirement for mixed financial holding companies

With entry into force of the amendment to the Banking Act, which transposes the Capital Requirements Directive V (‘CRD V’) into Austrian law, the direct licensing and supervision of certain parent companies of credit institutions (‘financial holding companies’ and ‘mixed financial holding companies’) is now introduced into the Banking Act for the first time.  

Fundamental right to disconnect after working hours?

Lawyer and Managing Partner Dr Julia Andras discussed this exciting question in an interview with university professor and labour rights expert Dr Martin Gruber-Risak.

Supply chain laws at an international, European and national level

Consumers are increasingly questioning whether products were made using child labour and forced labour (known as modern slavery). Environmental disasters and the threat of pandemics, such as the current COVID-19 pandemic, have shown us that legal regulations and penalties for large corporations and other companies are necessary to protect everyone’s livelihoods.

New compliance requirements for business partners

The coronavirus pandemic has made many companies and consumers more aware of sustainable and ethical business practices. To fend off global competition for markets and investors, companies would be well advised to optimise their entire value chain in line with ‘environmental, social and governance aspects’ (ESG).

MiCAR – is a uniform set of rules for tokens in sight?

In September 2020, the European Commission published a draft regulation entitled ‘On Markets in Crypto-Assets’ (‘MiCAR’), which provides for pan-European regulation of issuances of stablecoins and utility tokens and the provision of crypto-related services. The MiCAR is expected to come into force at the end of 2022. 

Compulsory vaccinations at the workplace?

The coronavirus pandemic has changed our working lives to a significant extent. While some people spend more time working from home, many companies have switched to shift work or registered a large part of their workforce for short-time working arrangements. All these measures are intended to enable companies to maintain their operations as far as possible, while simultaneously providing maximum protection for workers and customers alike. 

The new Working-from-Home Act

The COVID pandemic has made working from home more important than ever before in Austria. Since the beginning of the crisis, more than 20 percent of employees have started working from home full-time, with another 20 per cent working part-time. The federal government is taking these new realities into account and has drafted a ‘Working-from-home Act’ with its social partners. The key points of this Act have already been released. 

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Interest barriers: A new weapon against tax avoidance?

As part of the Covid 19 Tax Measures Act, a new regulation was adopted regarding the tax deductibility of interest. This so-called “interest barrier” is regulated in Section 12a of the Corporate Income Tax Act (KStG) and applies for the first time to financial years beginning after 31 December 2020. 

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Restructuring procedures as a way out of the crisis

Since 16 July 2019, it has been clear that the main parts of the EU Directive on Restructuring and Insolvency (Directive (EU) 2019/1023) need to be transposed into national law by 17 July 2021. Now, a ministerial draft of an implementation law is available – better late than never. 

Innovation funding in Austria

The venture fund “IST cube”, launched in 2018 by the Institute of Science and Technology Austria (IST), in- vests primarily in life science and tech start-ups from the academic field. Markus Wanko, the founder and Managing Partner of IST cube, provides exclusive insights into the world of innovation financing. The interview was conducted by Gili Perl and Talin Schrattenholzer. 

Renewable Energy Expansion Act promotes green energy transition

Increasing annual electricity generation from renewable sources by 27 TWh by 2030, ensuring security of supply and increasing the share of renewables in district heating: the Federal Minister for Climate Protection, Environment, Energy, Mobility, Innovation and Technology sent a comprehensive legislative package for review in September 2020 – and presented the Renewable Energy Expansion Act to the public on 11 March 2021. 

Dangerous change of faith

The European Court of Human Rights unanimously ruled that Switzerland would be violating Art. 3 ECHR by repatriating an Afghan refugee who had converted from Islam to Christianity. This is because the toler- ance of many states is limited only to their own guiding culture. 

Alexander Egger – Our Man in Luxembourg

For a good 10 years, Lansky, Ganzger + partner has successfully represented clients before the two Union Courts, namely, the Court of Justice of the European Union (CJEU) and the General Court. DrDr Alexander Egger plays a key role in this, heading the firm’s “EU, Regulatory, Public Procurement & State Aids” practice group. 

Temporary Protection for entrepreneurs

The Slovak legislator has adopted a legal instrument for the temporary protection of entrepreneurs in financial difficulties, which has been in force since the beginning of this year. The main purpose is to protect entrepreneurs from creditors and to create instruments to support entrepreneurs in bankruptcy. 

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„First aid ++“ – New financial aid for Slovak businesses

As the state of emergency in Slovakia due to the Covid 19 pandemic is still ongoing, higher state financial aid for employers and self-employed persons now contributes even more efficiently to supporting and maintaining employment. 

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LGP Corona FAQ at

Since the coronavirus crisis began a year ago, lawyers of Lansky, Ganzger + partner have been keeping readers of “trend” magazine up-to-date with the latest legal provisions and regulations issued to com- bat the crisis and keep it under control – and their offer has already been used more than 400,000 times. 

Read Article

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