Starting a business means … 5 things that founders like to forget
You have decided to start a business? In order to prepare you a bit for what is going to happen now that you have decided to start your business, I have five tips to help you.
Tag: Carsten Lexa
“Playing” with a bank in Russia
By: Rechtsanwalt (Attorney) Carsten Lexa, LL.M. A 42-year-old Russian man won an interesting case against a Russian bank. This man received an unsolicited credit card offer from online bank Tinkoff Credit Systems. Unhappy with the credit card terms, the man scanned the term sheet, wrote in some new terms of his own, signed the document and send it back. The bank
The reform of the Rechtsanwaltsvergütungsgesetz has been put into force on August 1st, 2013
By: Rechtsanwalt (Attorney) Carsten Lexa, LL.M. On August 1st, 2013, the RVG (“Rechtsanwaltsvergütungsgesetz” = German Attorney Remuneration Law) has been put into force. The RVG exists since July 1st, 2004 and superseded the Bundesrechtsanwaltgebührenordnung (German Federal Code of Lawyers’ Fees = BRAGO). Most attorneys do their statement of fees on the basis of the regulations of the RVG. Every activity of
Poker players must pay taxes on their winnings in Germany
By: Rechtsanwalt (Attorney) Carsten Lexa, LL.M. The German finance court of Cologne has ruledthat poker is a game of skill. The ruling is in response to poker player Eduard Scharf´s claims that his poker winnings shouldn’t be taxed because poker is a game of chance, and “anyone can win a game of poker.” The court disagreed, ruling that “he had to pay
Insurance against piracy for shipowners in Germany
By: Carsten Lexa, LL.M. A group of German insurers will help shipowners in cases of war risks. For the first time, shipowners in Germany can get insurance against war risks. Shipowners will be able to insure their cargo ships against the consequences of martial conflict and pirate attacks. Normally, German shipowners insure their cargo ships against these risks in London
UK Government and the “new deal” with credit card companies
By: Carsten Lexa In 2009 there were about 30 million credit card holders in the UK, holding about 58 million credit cards, down from 66 million credit cards in 2008. Beyond that, total household debt in the UK has reached a level of 1400 billion pounds sterling, of which 55 billion pounds sterling is on credit cards. When loooking at
As companies battle the recession, bartering comes in handy
By: Carsten Lexa Money helps a lot when it comes to exchanging goods. One buys the goods, pays with cash and takes the goods away. So far, so good. But what if free cash to spend is a rare thing? For example in times like today, when the economy is not doing well and money is scarce? Today, more and
The US credit card business – Credit CARD Act 2009
By: Carsten Lexa On August 13th, 2009, I wrote an article here on Commercial Law International about the “secrets” of the US credit card business and about how the existing rules make it hard for customers to pay off their credit card debt. On November 3rd, 2009, I wrote in a the second article about a Goverment proposal regarding new legislation for
The US credit card business – reloaded
By: Rechtsanwalt (Attorney) Carsten Lexa, LL.M. On August 13th, 2009, I wrote an article here on Commercial Law International about the “secrets” of the US credit card business and about how the existing rules make it hard for customers to pay off their credit card dept. Now, a new Goverment proposal tries to help customers to reduce their credit card
Commerzbank sued for millions by former Dresdner Kleinwort traders
By: Rechtsanwalt (Attorney) Carsten Lexa, LL.M. A group of 72 former Dresdner Kleinwort traders have sued the new owner of Dresdner Bank AG, Commerzbank AG, claiming it reneged around 34 million Euros of guaranteed bonus payments. The traders argued that their bonusses were guaranteed before Commerzbank Bank´s 5 billion Euros takeover of Dresdner Bank and should not be affected by