More Investors for Commercial Vehicles?
Die strikten Regelungen der Bundesrechtsanwaltsordnung (BRAO) bezüglich des Fremdkapitalverbots in Anwaltskanzleien stehen auf dem Prüfstand. Der Generalanwalt des Europäischen Gerichtshofs (EuGH) äußerte Bedenken hinsichtlich der Vereinbarkeit dieser Regelungen mit der EU-Dienstleistungsrichtlinie, da sie die Niederlassungsfreiheit einschränken könnänken. The final decision of the EuGH remains undecided, but it could bring about significant changes for the participation of investors in the activities of the company.
Background of the experience, influence of investors
The case, which was brought before the EuGH, concerns the Halmer Rechtsanwaltsgesellschaft UG, which is claiming against the Rechtsanwaltskammer München. The UG argues that the existing free float capital offer should be subject to certain conditions and that investors should be allowed to participate in it under certain conditions. The General Counsel supports this view, in part, by referring to the current legislation on inkohärenzen in the current legislation.
All amendments and improvements
Sollte der EuGH dem Generalanwalt folgen, müsste der deutsche Gesetzgeber die BRAO anpassen. A possible solution could be to encourage the participation of investors, so that strict protection mechanisms for the independence of the general public can be implemented. This could allow the access to external capital for the acquisition of assets, without the need to ensure their independence.
However, the Bundesrechtsanwaltskammer and many other companies reject a lock-in of the free capital base, as they are causing an increase in the unemployment and community debt.
