OLG Rostock: Application of Pflichtteilsstrafklausel in a will

OLG Rostock: Application of Pflichtteilsstrafklausel in a will

OLG Rostock: Application of Pflichtteilsstrafklausel in a will

https://www.grprainer.com/en/legal-advice/law-of-succession/last-will-and-testament.html (https://www.grprainer.com/en/legal-advice/law-of-succession/last-will-and-testament.html)
If, after becoming aware of what is termed a “Pflichtteilsstrafklausel” (compulsory portion penalty clause), an heir refrains from asserting his right to a compulsory portion of the estate, he will not be limited to this compulsory portion in the event of succession.

GRP Rainer Lawyers and Tax Advisors in Cologne, Berlin, Bonn, Düsseldorf, Frankfurt, Hamburg, Munich, Stuttgart and London conclude: In the case of a Berliner Testament (Berlin will (https://www.grprainer.com/en/legal-advice/law-of-succession/last-will-and-testament.html)), spouses mutually appoint each other as sole heirs and generally designate their children as final heirs. To prevent the children from demanding their compulsory portion following the death of the first spouse, it is possible to include a so-called Pflichtteilsstrafklausel in the will.

In most instances, a Pflichtteilsstrafklausel states that should a child assert his right to the compulsory portion in the estate after the first spouse has died, this compulsory portion shall then represent the full extent of his inheritance even following the death of the second spouse. Any claims to a greater share in the inheritance will have been forfeited. This clause does not kick in, however, if the child initially asserts his right to a compulsory portion after the death of the first spouse having been unaware of the penalty clause but subsequently stops pursuing his claim after becoming aware of it. In its ruling of December 11, 2014, the Oberlandesgericht (OLG) Rostock [Higher Regional Court of Rostock] held that the final heir is not limited to the compulsory portion under these circumstances.

In that case, a married couple had drawn up a Berliner Testament and mutually appointed each other as sole heirs. The will contained the following Pflichtteilsstrafklausel: “Sollte eines unserer Kinder nach dem Erstversterbenden den Pflichtteil fordern, soll es auch nach dem Letztversterbenden auf den Pflichtteil beschränkt sein.” (Should one of our children assert a claim to the compulsory portion after the first spouse has passed away, they shall be limited to the compulsory portion even after the death of the second spouse). While the daughter initially demanded her compulsory portion following her mother”s death, she abandoned this course of action after becoming aware of the penalty clause.

When the father subsequently passed away, a dispute emerged among the inheriting children. The daughter applied for a certificate of inheritance identifying herself and her brother as joint heirs. Her brother took the view that the sister was limited to the compulsory portion.

The OLG Rostock concluded that the daughter was not limited to the compulsory portion, ruling that the penalty clause had not been triggered. It went on to say that this would only be the case if claim were explicitly and earnestly laid to the compulsory portion with knowledge of the clause”s existence.

When it comes to matters pertaining to wills, lawyers who are versed in the field of succession law can offer advice.

https://www.grprainer.com/en/legal-advice/law-of-succession/last-will-and-testament.html (https://www.grprainer.com/en/legal-advice/law-of-succession/last-will-and-testament.html)

GRP Rainer Rechtsanwälte Steuerberater is an international law firm specialized business law. In Cologne, Berlin, Bonn, Dusseldorf, Frankfurt, Hamburg, Munich, Stuttgart and London, the firm advises in particular in the fields of the entire business law, corporate law, tax law, as well as capital markets and banking law. Our clients include national and international companies and corporations, institutional investors, and private individuals.

Kontakt
GRP Rainer LLP
Michael Rainer
Augustinerstraße 10
50667 Cologne
+49 221-27 22 75-0
+49 221-27 22 75-24
info@grprainer.com
http://www.grprainer.com/

Continue Reading

Value-added tube processing with individual concepts

Coordinated transfluid technology improves process safety

Value-added tube processing with individual concepts
Intelligent concepts for tube processing ensure quick sequences. (Source: transfluid)

Many paths not only lead to Rome, but also to the desired product result. Of course, the production technologies and systems are very important for safe processes in tube processing. The solution finders of transfluid (http://www.tube-processing-machines.com/homepage.html) use their knowledge in development of the properly coordinated tube bending and tube forming machines for this.
The high-tech machine engineers produce additional added value also by precisely coordinated production of tools, as Stefanie Flaeper, managing director at transfluid, explains: “We develop tool technologies that match our machines. Of course, they correspond to the complete requirements that our customer has to his specific product or any new one.” This development always must be viewed in connection with a machine accordingly. “Of course, we share our individually developed know-how with our customers,” says Flaeper. “They participate and profit from this in different ways.”

New paths for better production
Effective new design of individual process steps often secures economically more efficient production. For example, a transfluid project required a production cell for production of special short tube parts. A classical process would have been defined initially by cutting the tubes by metal circular saw, unilateral forming of the hose connection, tube bending, cutting off the overlenght and forming the second tube end. “We don’t stop our considerations at the proper geometry,” Stefanie Flaeper emphasises. “The path to the result must be just right as well. That includes making it more economically efficient, process-safe and easier for our customers.”

Chipless to the faster cycle
Thus, the better system solution after completing the transfluid project is that the material from the coil is initially shortened to the desired lengths in the chipless orbital cutting procedure. The clean cut permits immediate further processing and paves the way for faster cycle times. After cutting, both sides will be end formed. transfluid generally puts this step before tube bending. In this case, it avoids having to cut off the overlengths and permits simpler handling, finally, the desired tube parts are bent as well. “It always depends on the process, good interaction of technologies and the possibility of an effective cooperative partnership,” Stefanie Flaeper finally summarises.

DOWNLOAD PRESS INFORMATION AND PICTURES (http://bit.ly/Press-images-PI-tube-processing-concepts-OPR)

transfluid Maschinenbau GmbH – the solution for tubes

transfluid is sought after worldwide as a partner for manufacturing tube bending machines and tube processing machines. Since 1988 transfluid has been further developing its technologies for tube machining, so that it can provide customer-oriented, tailor-made solutions – for plant and machine construction, the automotive and energy industries,
shipbuilding and medical device manufacturing.

transfluid’s product portfolio offers perfect solutions in five different machine categories, that meet all the requirements in tube processing. t bend stands for a wide range of tube bending machines, which fulfil the highest demands in terms of industrial applications. The tube forming machines in the t form range offer the perfect tube shaping solutions. Tube forming is important as an individual or supplementary process, in order to obtain optimally tailored tubes. Automation systems are offered as fully developed concepts for bending and forming technology, under t motion. t cut covers the field of tube cutting machines. Here, transfluid is able to provide a range of different systems, for example for chipless orbital cutting and special knive separation processes. The category t clean encompasses tube cleaning machines. These ensure the cleanliness of workpieces and tubes. Additionally, with the new tu go range, transfluid offers a standardised portfolio of machinery, which is available from stock for immediate delivery. transfluid offers the powerful software t project for rapid and reliable tube processing. It can be used as an effective online solution for bending machines and the majority of CAD systems.

www.tube-processing-machines.com

Firmenkontakt
transfluid Maschinenbau GmbH
Stefanie Flaeper
Hünegräben 20-22
57392 Schmallenberg
+49 2972 97 15 – 0
+49 2972 97 15 – 11
info@transfluid.de
http://www.tube-processing-machines.com

Pressekontakt
PSV
Stefan Köhler
Schlachthausstraße 10
57072 Siegen
+49 (0) 271 7700160
s.koehler@psv-marketing.de
http://www.psv-marketing.de

Continue Reading

Global Crib Bedding Market 2016 Industry Size, Share, Trends, Growth, Analysis and Forecast 2021

Crib Bedding Market Research Report is a professional and in-depth study on industry Size, Share, Trends, Growth, Application, Consumption Volume and Value, Forecast, Supply, Production, Price, Professional Survey 2016 to 2021

Global Crib Bedding Market 2016 Industry Size, Share, Trends, Growth, Analysis and Forecast 2021

The report titled Crib Bedding is an in-depth and a professional document that provides a comprehensive overview of the global Crib Bedding market. The report provides an executive-level blueprint of the Crib Bedding market beginning with the definition of the market dynamics. The analysis classifies the Crib Bedding market in terms of products, application, and key geographic regions. With focus on presenting a detailed value chain analysis, the study evaluates the set of region-specific approaches forged by the industry. To determine the market potential forCrib Beddingin the international scenario, the study delves into the competitive landscape and development landscape exhibited by the key geographic regions.

Access Full Report With TOC: http://www.fiormarkets.com/report/global-crib-bedding-market-professional-survey-report-2016-8016.html

Development plans and policies significantly impact the market dynamic. The report therefore studies in detail the impact of the strategies, plans, and policies adopted by leading vendors of the Crib Bedding market. Manufacturing cost of products and the pricing structure adopted by the market is also evaluated in the report. Other parameters crucial in determining trends in the market such as consumption demand and supply figures, cost of production, gross profit margins, and selling price of product and services is also included within the ambit of the report.

To provide a detailed analysis on the competitive landscape, the report profiles the key players in the Crib Bedding industry. Information present in these chapters includes details of products manufactured by the leading companies, product specification and price, and production capacity. Using reliable analytical tools, the report evaluates the information sourced from both primary and secondary research. Results obtained through the detailed analysis helps in presenting refined forecasts regarding growth prospects of the Crib Bedding market. Apart from this, the analysts have also conducted upstream raw materials and equipment and downstream demand analysis to compile and present an exhaustive study on the Crib Bedding market.

Ask for Sample Report: http://www.fiormarkets.com/report-detail/8016/request-sample

A detailed segmentation evaluation of the Crib Bedding market has been provided in the report. Detailed information about the key segments of the market and their growth prospects are available in the report. The detailed analysis of their sub-segments is also available in the report. The revenue forecasts and volume shares along with market estimates are available in the report.

Fior Markets is a leading market intelligence company that sells reports of top publishers in the technology industry.

Our extensive research reports cover detailed market assessments that include major technological improvements in the industry. Fior Markets also specializes in analyzing hi-tech systems and current processing systems in its expertise.

Kontakt
Fior Markets
Caron Devis
Lincoln Street 2566
08540 Princeton
2014654211
caron@fiormarkets.com
http://www.fiormarkets.com

Continue Reading

New welding process joins dissimilar sheets better

Scientists have developed two new process variants that will considerably expand the areas of application for friction stir welding.

New welding process joins dissimilar sheets better
With the newly-developed friction stir welding joints, it is possible to join steel and aluminum she

Friction stir welding is a still-young and thus often unfamiliar pressure welding process for joining flat components and semi-finished components made of light metals. Due to the great joint strength that can be achieved and the associated lightweight construction potential, this process is being used increasingly in the automobile industry, mechanical engineering and in aviation and railcar construction.

Scientists at the University of Stuttgart have now developed two new process variants that will considerably expand the areas of application for friction stir welding. Thanks to these procedural variants, it is possible for the first time to join steel and aluminum sheets of different thicknesses using the friction stir welding process economically while ensuring high-strength joints. This way, material utilization of thin steel sheets in aluminum-steel mixed chassis applications can be increased by up to nearly 100%.

The two materials steel and aluminum are being used together increasingly in automotive applications and in the mechanical engineering sector. This way, it is possible to combine the advantages of both materials, such as the great stiffness and strength of steel and the low density of aluminum. Due to the different levels of strength of the two materials, these are frequently used in different thicknesses. The high-strength joining of steel and aluminum therefore represents an elementary problem in industrial joining technology.

Previously, joints between materials of different types and thicknesses were made using overlap welding, since this joint type bears great bending moment and tensile strengths. In the process, however, bothersome edges arise. In addition, due to the direct combination of different materials and the gaps resulting from the overlap, there is an increased danger of corrosion.
With the friction stir welding processes developed at the Institute for Materials Testing, Materials Science and Strength of Materials (IMWF) of the University of Stuttgart, it is possible to join steel and aluminum sheets of different thicknesses economically while ensuring high-strength joints.
Prof. Dr. Ing. Stefan Weihe, Martin Werz, Max Hoßfeld and Oliver Volz, the engineers and specialists researching at the IMWF and the MPA Stuttgart, developed two processes with which, for the first time, aluminum and steel sheets of different thicknesses can be joined to form a high-strength butt joint. These joints demonstrate great tensile strength and fatigue strength.

With the first procedure, the steel sheet is locally folded so that its cross-section for joining the aluminum sheet is doubled around the joint zone. This increases the cross-section of the thinner, stiffer sheet at the joint. As a result, the softer aluminum can be joined to the steel across its entire cross-sectional area.
With the second process developed at the University of Stuttgart, thanks to a newly-developed tool it is possible to create a combined overlap and butt joint in just one welding pass. The resulting joining surface is more than doubled as compared to conventional butt joints. This results in the excellent static and cyclical joint strength.

For the joining of automobile-typical materials (Aluminum EN AW 6016 T4, 2.0 mm and Steel HC340 LA, 1.0 mm), tensile strengths of up to 99.4% of the steel sheet is achieved with the new process. The newly-developed welding joints therefore allow the sparing of materials and at the same time they increase the safety of vehicle passengers during accidents. Furthermore, the newly-developed welding process increases economy: they require fewer steps and less energy.

In addition to many applications in the automobile industry, the procedure is also interesting for the electrical industry and the electromobility sector, because with friction stir welding, aluminum-copper joints are possible, among other things.

Technologie-Lizenz-Büro (TLB) GmbH supports the University of Stuttgart in patenting and marketing its innovations. Acting on behalf of the University, TLB is in charge of the commercial implementation of these future-oriented technologies on a global level. For more detailed information, please contact Dr.-Ing. Michael Ott (mott@tlb.de).

Die Technologie-Lizenz-Büro (TLB) GmbH ist eine Agentur für Erfindungs- und Patentmanagement in Deutschland. TLB begleitet Erfindungen von Hochschulen, Unternehmen und Erfindern auf ihrem Weg von der ersten Idee bis zum wirtschaftlichen Produkt.

Kontakt
Technologie-Lizenz-Büro (TLB) GmbH
Annette Siller
Ettlinger Str. 25
76137 Karlsruhe
0721 79004-0
asiller@tlb.de
http://www.tlb.de

Continue Reading

Inheritance: Gifts during testator”s lifetime to be considered for purposes of compulsory portion

Inheritance: Gifts during testator”s lifetime to be considered for purposes of compulsory portion

Inheritance: Gifts during testator"s lifetime to be considered for purposes of compulsory portion

https://www.grprainer.com/en/legal-advice/law-of-succession.html (https://www.grprainer.com/en/legal-advice/law-of-succession.html)
A testator who makes a gift during his lifetime may give rise to tax advantages. However, any gifts need to be taken into account when calculating the compulsory portion.

GRP Rainer Lawyers and Tax Advisors in Cologne, Berlin, Bonn, Düsseldorf, Frankfurt, Hamburg, Munich, Stuttgart and London conclude: Gifts during the testator”s lifetime can be a good way of reducing the heirs” inheritance tax burden, particularly in cases involving significant assets. That being said, succession law (https://www.grprainer.com/en/legal-advice/law-of-succession.html) also stipulates that gifts need to be taken into account when calculating the compulsory portion. The heir is obligated to inform those who are entitled to a share in the compulsory portion about gifts made within a period of ten years prior to the death of the testator. That was the verdict of the Oberlandesgericht (OLG) Stuttgart [Higher Regional Court of Stuttgart] in its ruling of January 26, 2016 (Az.: 19 W 78/15).

In the succession case in question, the testator”s account essentially had no more money in it despite the monthly income. This certainly did not exclude the possibility that gifts had been made during the testator”s lifetime. One party entitled to a share in the compulsory portion therefore requested information from the heir. The latter was clearly not inclined to look into the matter, but he did authorize the former to obtain information for himself from the bank. The OLG Stuttgart took the view, however, that the heir had not done enough to discharge his obligation to provide information. The Court held that the heir was obliged to make reasonable efforts in inquiring as to whether the testator had made any gifts in the past ten years that affected the calculation of the compulsory portion. If there is reason to suspect that gifts were made to third parties, the heir has to avail himself of his right to obtain information and identify potential recipients. This encompasses, in particular, access to bank statements, savings books as well as other banking documents pertaining to the last ten years. It is equally important for him to obtain information from the testator”s relatives. If the heir fails to comply with his obligations, the court can impose a fine.

From the perspective of those who are entitled to a share in the compulsory portion, gifts made by the testator can have a substantial impact on the compulsory portion, which amounts to half the value of the statutory share in the estate and is calculated based on the extent of the assets that have been left behind. Gifts that were made within a period of ten years prior to the death of the testator have to be accounted for in this calculation.

Lawyers who are versed in the field of succession law are able to provide competent advice on all issues relating to inheritances.

https://www.grprainer.com/en/legal-advice/law-of-succession.html (https://www.grprainer.com/en/legal-advice/law-of-succession.html)

GRP Rainer Rechtsanwälte Steuerberater is an international law firm specialized business law. In Cologne, Berlin, Bonn, Dusseldorf, Frankfurt, Hamburg, Munich, Stuttgart and London, the firm advises in particular in the fields of the entire business law, corporate law, tax law, as well as capital markets and banking law. Our clients include national and international companies and corporations, institutional investors, and private individuals.

Kontakt
GRP Rainer LLP
Michael Rainer
Augustinerstraße 10
50667 Cologne
+49 221-27 22 75-0
+49 221-27 22 75-24
info@grprainer.com
http://www.grprainer.com/

Continue Reading

ERS Competence Center celebrates fifth anniversary

High customer acceptance, rising number of application areas

ERS Competence Center celebrates fifth anniversary
(Source: ERS electronic GmbH)

MUNICH, September 27, 2016 – ERS electronic GmbH, the innovation leader in the market of thermal test solutions for semiconductor production, looks back to five extraordinary successful years of operating its Fan-out Wafer Level Packaging (FOWL) test competence center in Munich. The center enjoys rising popularity among customers, fuelled not least by the second wave of the Advanced Packaging technology expansion that currently can be observed across the semiconductor industry.

“In retrospect, the decision to launch this Competence Center five years ago has been very fruitful and future-oriented”, says ERS Managing Director Klemens Reitinger. Though the technology has made significant progress, some fundamental issues persist – in particular those related to the proper separation of the reconstituted wafer from its temporary carrier as well as to workpiece warpage. “To both problems, we are offering solutions that can be tested in our Competence Center. Most of these solutions are based on our protected intellectual property”, Reitinger explains.

ERS observed that since 2015 the second wave of the Advanced Packaging Technology Expansion started to gain traction, triggering a significant increase in the number of market participants. OSATs (Outsourced Semiconductor Assembly and Test), material manufacturers, equipment vendors and research institutes alike are intensifying their activities in the area of embedded Wafer Level BGA (eWLB). Also, eWLB package manufacturing processes have evolved since the time the Competence Center has opened its doors. A diversity of materials and processes has unfolded. Metal, glass, silicon, diverse new potting compounds have entered the scene along with new process concepts like Chip First or RDL First. At the same time, the variety of end products and applications leveraging Advanced Packaging has grown substantially: Extremely slim smartphones, smart watches, IoT devices and even automotive products such as radar sensors are manufactured using Advanced Packaging, to name just a few examples.

The Competence Center is a significant contribution to ERS” appeal as a leading vendor of manufacturing and development equipment. Mr. Reitinger describes the formula for success: “Strict confidentiality, no fees. Thus, we can remain open for the technological progress and can deliver results quickly and unbureaucratically.” ERS” reward: “Since our customers know they can trust us, we are aware of new technology trends at a very early stage. This enables us to integrate our solutions into products and manufacturing equipment more quickly.”

ERS electronic GmbH, based in Germering near Munich, has been producing innovative thermal test solutions for the semiconductor industry for 45 years. The company has gained an outstanding reputation in the sector, notably with its fast and accurate thermal chuck systems for test temperatures ranging from -65°C to +500°C for analytical, parameter-related and manufacturing tests. Today, thermal chuck systems developed by ERS in its product families AC3, AirCool©, AirCool© plus and PowerSense© are an integral component in all larger-sized wafer probers right across the chip industry.

Firmenkontakt
ERS electronic GmbH
Klemens Reitinger
Stettinerstraße 3+5
82110 Germering
+49-89-8941320
kreitinger@ers-gmbh.de
http://www.ers-gmbh.com

Pressekontakt
Brand+Image
Timothy Göbel
Von-Eichendorff-Str. 41
86911 Dießen a.A.
08807 9475642
ERS@brandandimage.de

Home

Continue Reading

BRAUN HAMBURG: FALL/WINTER – NEW TRENDS

BRAUN Hamburg starts the fall/winter season with wider silhouettes, earthy tones and combined patterns. Sartorial elegance is still a big topic for the new season. Casualwear and sportswear also remain very important.

BRAUN HAMBURG: FALL/WINTER - NEW TRENDS

Hamburg, 27 September 2016. After the last RTW collections, many designers show wider silhouettes, more relaxed cuts and earthy tones again. Classic patterns like check and wide stripes are complemented with new patterns that can be beautifully combined.

Velvet and suede are the fabrics for the evening but they can definitely be considered for the day. Colours like black, grey, navy, brown, red and burgundy as well as shades of purple supplement the natural palette of the collections – sunny yellow and orange are small highlights.

At Pitti Uomo in Florence, Lars Braun talks to Monocle Magazine: “Our customers become more and more flexible every day. One day, they ask for a cashmere jumper at an entry-level price, and then they will buy a cashmere coat for EUR5,000 to go with it. Apart from that, we still notice the biggest growth with casual wear.”

Sartorial elegance is however still a big topic for the new season. Slim-fit suits are matched with oversized coats – material blends and patterns are ubiquitous. A 70’s influence becomes apparent through double-breasted and jersey jackets in earthy colours.

Casualwear and sportswear remain an important topic. Clean sneakers are a key element for all the looks. Pleated chinos and jersey fabrics become more and more relevant – silhouettes become wider here as well, leg openings remain narrow however. Camouflage plays a major role and is to be found in numerous collections.

About BRAUN Hamburg

BRAUN Hamburg offers a highly exclusive selection of international luxury brands, such as Bottega Veneta, Brioni, Brunello Cucinelli, Caruso and Dries van Noten as well as Ermenegildo Zegna, Etro, Maison Martin Margiela, Moncler, Santoni, Tom Ford and many more.

Our heritage fashion house with two shops in Hamburg has always stayed true to our belief that comprehensive service lies at the core of our business. To achieve this, our trained staff”s professional and people skills are crucial.

Not only do we offer individual and personal advice, we also provide our own alterations studio as well as laundry and shoe repair services, all of which provide an associated delivery service, and thus take great care of our discerning customers.

BRAUN Hamburg stands for a very diverse range of offerings that is almost unrivalled in Germany. The store at www.braun-hamburg.de provides customers with an individual and exceptional online shopping experience. With a size of more than 1,100 sq.m. on two floors, the upmarket Kaisergalerie in Hamburg is now the home of the New BRAUN shop, where open-plan spaces, a very contemporary interior design and more than 100 international designer brands excite customers.

Kontakt
BRAUN Hamburg
Jamina Behrens
Mönckebergstr. 17
20095 Hamburg
040/33447126
presse@braun-hamburg.de
http://www.braun-hamburg.de

Continue Reading

Digitalization: Mike Flache among the world’s TOP-10 influencers

The Onalytica ranking of the 100 most influential individuals and brands on Twitter on the topic of digital transformation has listed business angel and startup investor Mike Flache among the top ten.

Stuttgart, 27 September 2016

The latest Onalytica ranking officially confirmed that digital transformation is one of the great global challenges for businesses and will demand the increased attention of companies now and in the years ahead. Discussions and exchanges on this issue no longer follow the traditional patterns but take place where the transformation originates from: virtual space. Mike Flache is quite pleased with his ranking: “To be able to make a sustainable contribution and to help shape one of the most important issues for the future of the global economy is acknowledgment and motivation enough.”

The methodology for this analysis conducted by Onalytica is based on engagement data. For this ranking they analyzed over 338,000 tweets over 90 days mentioning “Digital Transformation”. Onalytica’s analysts looked at a user’s connections and calculated relative influence using PageRank analysis. This methodology enabled them to show those users with the best quality of connections who are driving the most engagement on topic. Reach (follower count), Relevance (number of tweets on topic) and Reference (number of times the user has been added to twitter lists) were also factored into the equation to produce an overall influencer score. Onalytica also used their custom-developed Influencer Relationship Management Software (IRM) to generate the network maps and topic share of voice charts. The result is a data-based list with 100 individuals and brands, each a distinct leader in the exchange and discussion on Twitter about digitalization.

Digital transformation will become the key strategic thrust for most CEOs

The term “digital transformation” describes the restructuring of a company’s culture, business models and associated processes with the objective of fully taking advantage of the opportunities offered by the new digital technologies. According to a recently published report by the World Economic Forum, companies that utilize digital technologies across all business areas are more successful in opening up new sources of income and in prevailing against the competition of “digital natives” and rival companies. By 2018, it is expected that 67%* of CEOs of the Forbes Global 2000 companies will have shifted the focus of their business strategies onto digital transformation.

Decision-makers must understand digitalization as a holistic effort

Mike Flache is a business angel and investor who supports innovative technology startups and emphasizes the importance of an integrated approach for this complex task in paving the way to the future. “No doubt, the transition from analog to digital could be a long march, because it’s more than just a technology issue; it’s also about a clear strategy aligned closely to market needs, streamlined processes, and, above all, open-minded and competent people”, Mike Flache explains. “Companies that are willing to understand that these key factors need to be in line for a successful business transformation, will enjoy fundamental advantages over competitors – from creating new business models and profit streams to building a decision-oriented agile organization.”

The ranking lists Mike Flache alongside with Satya Nadella (CEO, Microsoft), Brian Solis (Chief Analyst, Altimeter Group), Bill Bunting (Director Healthcare Solutions, EMC), Vala Afshar (Chief Digital Evangelist, Salesforce), Ronald van Loon (Director, Advertisement), Kirk Borne (Principal Data Scientist, Booz Allen Hamilton), Simon Porter (Vice President Commercial Sales Europe, IBM) and Paul Daugherty (CTO, Accenture), among others.

A summary overview of the ranking is available at onalytica.com (http://www.onalytica.com/blog/posts/digital-transformation-top-100-influencers-and-brands/).
You can follow Mike Flache on Twitter (https://twitter.com/mikeflache).

* Source: Forbes / Tech (http://www.forbes.com/sites/gilpress/2015/12/06/6-predictions-about-the-future-of-digital-transformation/#4b572f0b25b4)

About Onalytica

Onalytica was founded in 2009 and has specialized on Influencer Relationship Management Software and supporting services. The company assists brands in the 1:1 scaling of influencer relationship management results. Onalytica works with experts in marketing, communications, digital media and PR to offer assistance in the planning and implementation of custom-made influencer programs. Onalytica solutions assists with the improved automation and optimization of influencing activities and the continuous identification of opportunities to engage.

Mike Flache is a German business angel and seed investor. He is involved in a number of technology startups in Europe and the US, including Fundment (Fintech), Ctrlflow (Software Engineering) and tocario (Workspace-as-a-Service Technology). Mike Flache serves on the digital advisory boards of various companies. He also advises VCs and institutional investors on performance optimization for their portfolio companies. Mike Flache also shares his experience with companies in traditional markets and supports them in getting the optimum added value out of their business transformation process. Onalytica lists him as one of the Top 10 global influencers for the digital transformation.

Kontakt
Mike Flache
Mike Flache
Königstr. 26
70173 Stuttgart
+49-151-646-111-29
press@mikeflache.com
https://www.mikeflache.com

Continue Reading

BGH: Liability of managing director in case of unpaid social security contributions

BGH: Liability of managing director in case of unpaid social security contributions

BGH: Liability of managing director in case of unpaid social security contributions

https://www.grprainer.com/en/legal-advice/company-law/managing-director.html (https://www.grprainer.com/en/legal-advice/company-law/managing-director.html)
The managing director is responsible for ensuring proper payment of social security contributions. If these are not paid, he could potentially be personally liable for this.

GRP Rainer Lawyers and Tax Advisors in Cologne, Berlin, Bonn, Düsseldorf, Frankfurt, Hamburg, Munich, Stuttgart and London conclude: A managing director (https://www.grprainer.com/en/legal-advice/company-law/managing-director.html) who breaches his duties may be faced with personal liability. Such duties include making sure that contributions to social security are properly paid. If this does not happen, he may be liable to pay damages to the relevant social security institutions. That being said, the social security institution has to prove intent on the part of the managing director. This also applies should there be no doubt regarding whether the conduct complained of objectively represents a breach of duty. That was the verdict of the Bundesgerichtshof (BGH), Germany”s Federal Court of Justice, in its ruling of May 3, 2016 (Az.: II ZR 311/14).

In the instant case, the defendant had been appointed as managing director in September 2002 and registered as such in the commercial register. There was nevertheless uncertainty concerning whether the defendant was fully aware in the first place of his appointment as managing director and the resulting obligations due to language difficulties.

It was also demonstrated that in September 2002 the GmbH had made extensive use of undocumented workers. The respective social security institution raised a claim against the managing director for withholding contributions to social security. The BGH held that a negligent breach of duty on the part of the managing director was not sufficient to render him liable but rather intent needed to be proven. The Court stated that intent cannot be readily inferred from an established breach of duty. It went on to say that the plaintiff bore the burden of proof for demonstrating intent, whereas the managing director merely bore the secondary burden of producing evidence.

The managing director of a corporation is not initially liable with his private assets. However, in the event he commits breaches of his duties, personal liability becomes a possibility both in relation to the internal relationship with the company and the external relationship vis-à-vis third parties. These duties include economic and financial management of the company, timely filing for insolvency in the case of imminent bankruptcy as well as ensuring proper payment of taxes and social security contributions. Liability always requires the managing director to have acted with intent or at least negligently.

Lawyers who are versed in the field of company law can offer advice to companies and / or managing directors with a view to preventing breaches of duty from occurring and enforcing or fending off claims.

https://www.grprainer.com/en/legal-advice/company-law/managing-director.html (https://www.grprainer.com/en/legal-advice/company-law/managing-director.html)

GRP Rainer Rechtsanwälte Steuerberater is an international law firm specialized business law. In Cologne, Berlin, Bonn, Dusseldorf, Frankfurt, Hamburg, Munich, Stuttgart and London, the firm advises in particular in the fields of the entire business law, corporate law, tax law, as well as capital markets and banking law. Our clients include national and international companies and corporations, institutional investors, and private individuals.

Kontakt
GRP Rainer LLP
Michael Rainer
Augustinerstraße 10
50667 Cologne
+49 221-27 22 75-0
+49 221-27 22 75-24
info@grprainer.com
http://www.grprainer.com/

Continue Reading

D&O insurance: BGH bolsters policyholders” rights

D&O insurance: BGH bolsters policyholders” rights

D&O insurance: BGH bolsters policyholders" rights

https://www.grprainer.com/en/legal-advice/company-law/do-insurance.html (https://www.grprainer.com/en/legal-advice/company-law/do-insurance.html)
Claims arising from a D&O (Directors & Officers) insurance policy can be ceded to the employer. That was the verdict of the Bundesgerichtshof (BGH), Germany”s Federal Court of Justice, in its ruling of April 13, 2016 (Az.: IV ZR 304/13).

GRP Rainer Lawyers and Tax Advisors in Cologne, Berlin, Bonn, Düsseldorf, Frankfurt, Hamburg, Munich, Stuttgart and London conclude: Many companies take out a D&O insurance (https://www.grprainer.com/en/legal-advice/company-law/do-insurance.html) policy for their governing bodies such as executive boards and managing directors as a way of securing themselves against risks. Having said that, things frequently devolve into disputes in the event of a claim being raised. One big stumbling block here is when the insured parties cede their claims arising from the D&O insurance policy to their employer. This is being resisted by insurers. They argue that the companies are not at all interested in making a claim against their governing bodies but are instead intent on collecting the insured sum, i.e. such claims are not to be taken seriously.

Notwithstanding this, the insurers suffered a major setback before the BGH. In the case in question, a company raised a claim for damages against one of its managers for breach of duty. The latter ceded in his capacity as the insured party his right of indemnity stemming from the D&O insurance policy to his employer. The insurance policy covered what is referred to as “internal liability”. The terms and conditions of the policy stated, among other things, that ceding the right of indemnity to the aggrieved third party was permissible. The insurer nonetheless refused to pay.

It reasoned that this assignment of rights was ineffective because the company did not represent an injured third party. It went on to say that the company raising the claim was only interested in triggering the insurance coverage despite the fact that the insured manager had not breached his duties. The insurance company claimed that no serious claim had been raised by the insured party, and that recourse should only have been made to the insurance benefit.

However, the Karlsruhe judges took a different view. The company that had taken out the D&O insurance policy for its employee was said to be capable of representing an aggrieved third party in cases involving internal liability and the insured party”s claims could thus be ceded. The judges held that the risk of abuse in the case of D&O insurance was no higher than in relation to any other type of liability insurance. The fact that the primary aim was to have the insured sum paid out did not exclude the possibility that the claim was serious, as this did not constitute an element triggering the insured event.

Lawyers who are experienced in the field of company law can advise on choosing and concluding a D&O insurance policy as well as assist in enforcing claims in the event that raising a claim gives rise to legal disputes with the insurer.

https://www.grprainer.com/en/legal-advice/company-law/do-insurance.html (https://www.grprainer.com/en/legal-advice/company-law/do-insurance.html)

GRP Rainer Rechtsanwälte Steuerberater is an international law firm specialized business law. In Cologne, Berlin, Bonn, Dusseldorf, Frankfurt, Hamburg, Munich, Stuttgart and London, the firm advises in particular in the fields of the entire business law, corporate law, tax law, as well as capital markets and banking law. Our clients include national and international companies and corporations, institutional investors, and private individuals.

Kontakt
GRP Rainer LLP
Michael Rainer
Augustinerstraße 10
50667 Cologne
+49 221-27 22 75-0
+49 221-27 22 75-24
info@grprainer.com
http://www.grprainer.com/

Continue Reading
1 2 3 105