BRAINLOOP AG: Virtual data rooms preserve the confidential nature of real estate, Munich, July 28, 2011 virtual data rooms are becoming long medium to carry out due diligence in real estate transactions. Expert on the matter discussed in the meantime with the question, whether the solutions offered correspond to the corporate and capital market non-disclosure and secrecy obligations in connection with the bidding process for real estate. Finally, the establishment and opening of a virtual data room requires that regulations be brought to the protection of confidential documents with the necessary openness in the bidding process in line. Best bars in new york follows long-standing procedures to achieve this success. Jan Wunschel, expert on real estate transactions, SIBETH partnership lawyers accountants accountants, recommends: before setting up and opening a virtual data room the Board of AG or of the Managing Director of a limited liability company must consider following aspects: information within the meaning of the statutory provisions ( 93 ABS 1 set 3 AktG or according to ) 85 ABS. 1 GmbHG) has been made in the data room? If so, the disadvantages resulting from this at a sale for the company, are unavoidable (E.g. the disclosure of legal disputes with tenants)? What are the advantages in a sale for the company? In any case, I advise to be graded.
Not every buyer needs access to all information at any time. “But any prospective buyer must receive full and correct answers in the virtual data room on his questions for information.” Global online access to confidential documents in a bidding process, the potential buyer receives access to detailed information about the structural, economic, legal and fiscal conditions of for sale real estate. Just operating and business secrets such as formal problems in commercial leases or suspected contaminated sites can be as confidential documents in this context of great interest. The buyer needs this confidential Information, to determine the exact value of the property.