On April 17th, the German Federal Ministry of Justice proposed a bill to facilitate the enforcement of claims for the return of cultural property unjustly seized during the Nazi era. New provisions include information requests and rules regarding statutes of limitations. ©Rui Alves/Unsplah The proposed legislation seeks to streamline the process for reclaiming Nazi-confiscated cultural […]
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Navigating the Complexities of the EU Emissions Trading System: The Mandate
The maritime industry’s integration into the EU Emissions Trading System (EU-ETS) in 2024 remains a challenge for shipping companies concerned: With the prospect of the many more reporting obligations and submission deadlines to come, shipowners are increasingly considering delegation options to manage MRV and EU-ETS obligations effectively. Only last week the German Administering Authority (DEHSt) […]
Nearly 80 years after the end of National Germany to replace Nazi-loot advisory panel with binding arbitration
The Advisory Commission, formerly known as the Limbach Commission, dealing with the return of Nazi-looted art from Jewish owners, has been facing criticism for its inefficiency. Now, nearly 80 years after the end of National Socialism in Germany the federal government, states and local authorities agreed shaking things up by replacing it with an arbitration […]
The EU General Court confirms: The Council must adhere to strict reasoning standards for the sanctioning of associated persons.
@Mister Pittinger – pixabay On 20 March 2024 the first Chamber of the EU General Court once again had to decide on behalf of a person sanctioned due to their association and immediate familiar ties to a Russian businessperson. This time Nikita Mazepin (the Claimant) brought an action of annulment under Art. 263 TFEU before […]
What keeps the shipping sector up at night: The EU ETS and MRV reform
Photo by Venti Views on Unsplash As of 1. January 2024 the Directive (EU) 2023/959 of the European Parliament and of the Council of 10. May 2023 came into effect, thereby extending the EU Emissions Trading System (EU ETS) to the maritime sector. While EU law dictates that a Directive such as this needs to […]
A Russian person can only bring a dispute before a Russian court if it has proof of the existence of sanctions against it
Photo by Linus Mimietz on Unsplash Case: №А55-24707/2022 Background facts LLC „European Biological Technologies“ filed a claim with the Arbitrazh Court of the Samara region to recover from the company „Cabinplant A/S“ the amount of unjust enrichment in the form of advance payment for the undelivered goods under the contract dated 12.09.2013 №92/SMB13 in the […]
Russian Supreme Court rules that money blocked by OFAC in the US is not lost, if an application to unblock the funds has not been filed
The ruling of the Supreme Court of the Russian Federation № 305-ЭС23-11869 dated 20.11.2023 Case № А40-179021/2022 The Supreme Court of the Russian Federation made a ruling in case No. A40-179021/2022 on the suit of OOO “IS TEX” to JSC „Moscow Industrial Bank“(hereinafter abbreviated as MInBank”) on funds recovery in connection with the cassation appeal […]