The Legal 500

Austria

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Editorial

Legal market overview

Two notable consequences of the financial crisis are visible in the Austrian legal market and have informed the flow of work: firstly, the volume of contentious work has increased and is keeping many law firms busy and, secondly, regulations have been tightened in a number of areas and financial supervision has been increased. This has led to a steady flow of mandates, especially on the compliance side and particularly for banking regulatory, tax and employment practices. The economic climate has also created a stage for large restructuring cases such as the Hypo Group Alpe Adria case, which remains a prominent theme of the Austrian market, and M&A transactions as corporates continue to sell non-core assets. Private client practices have been affected by changes to tax legislation with the effect that private foundations have lost their appeal and firms have been shifting their focus towards other forms of asset protection, such as trusts and family holding structures.

The rise in instructions for smaller, more flexible law firms continues to be a trend and has led to the establishment of a number of specialised boutiques. Perhaps the most notable move was in the dispute resolution arena. Wolf Theiss’ former head of arbitration Florian Haugeneder and Bettina Knötzl left the firm together with former counsels Katrin Hanschitz and Axel Thoß in January 2016 to found dispute resolution boutique Knoetzl Haugeneder Netal. Changes in other practice areas are no less noteworthy. Axel Reidlinger, formerly head of competition law at Freshfields Bruckhaus Deringer, founded Reidlinger Schatzmann Rechtsanwälte GmbH together with Gassauer-Fleissner’s co-founder Hanno Schatzmann. Founding partner and media lawyer Christoph Leon left Fiebinger Polak Leon & Partner Rechtsanwälte GmbH to work independently. Competition lawyer Christian Mayer and energy expert Thomas Starlinger also left Fiebinger Polak Leon & Partner Rechtsanwälte GmbH in February 2015 to found Starlinger Mayer Rechtsanwälte GmbH. Rudolf Pendl and Gerald Mair established IP boutique Pendl Mair Attorneys at Law after leaving Zeiner & Zeiner. Brauneis Klauser Prändl Rechtsanwälte GmbH rebranded as bkp Rechtsanwälte.

Firms in the spotlight

Lugger | Bankler
www.lugger-bankler.at

Lugger | Bankler is a modern, independent Austrian business law firm. The firm provides clients with personal, individual and efficient legal advice to the highest professional standards. The firm advises national and international commercial entities, as well as public institutions in the areas of business and commercial law. It also advises private clients on commercial issues. The firm’s major practice areas are corporate, M&A, commercial, banking and finance, and dispute resolution. Further it focuses on environmental law and energy law.

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Press releases

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to

Legal Developments in Austria

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Hungary: Towards strengthened investor protection

    After the broker scandals of 2015, the government introduced new protective measures this year to restore Hungarian investors' trust in capital markets instruments and investment service providers. In 2015, it was discovered that some local broker houses had manipulated their information systems and as a result their reports on securities were not an accurate reflection of the reality. read more...
  • ECJ issues preliminary ruling on cross-border mergers

    On August 28 2014 the Austrian Supreme Court submitted a request to the European Court of Justice (ECJ) (6 Ob 137/13 k) for a preliminary ruling on the interpretation of EU law regarding cross-border mergers. read more...
  • #Rio2016 - A Trademark Infringement?

    Recent media coverage has reported that it will be prohibited for companies to use hashtags such as #Rio2016, or to share official reports regarding the Olympic Games on social media. Are these serious threats? Or are they simply (unsuitable) attempts to protect official sponsors as comprehensively as possible? read more...
  • Hungary: A new era in electronic litigation has begun

    As of 1 July 2016, an amendment to Act III of 1952 on the Code of Civil Procedure (" Act ") came into force introducing the possibility – sometimes the obligation – to communicate with the courts electronically. read more...
  • One and two character domain names will be available soon under the Austrian ccTLD

    While it has been possible to register one or two character domain names ("short domains") under several Top Level Domains (TLDs) for quite some time (eg for the German ".de" TLD, following the 2009 "vw.de" judgment), the Austrian registry operator nic.at has hitherto not delegated short domains under the TLD ".at" (to date the minimum length of domain names under the ".at" top level domain had been three characters). Read more...
  • Czech Republic: Real Estate Transfer Tax to be paid by transferees

    Under the provisions of the Statutory Measure of the Senate No. 340/2013 Coll. on Real Estate Transfer Tax (the " RE Transfer Tax Ac "), the transferor is obliged to pay the real estate transfer tax (the " RE Transfer Tax ") when ownership title to real estate is acquired by purchase or exchange, unless the transferor and the transferee stipulate otherwise in the purchase or exchange agreement. read more...
  • Austria: Shareholder Agreements - Back to Normal?

    On 1 January 2015 the act to amend regulations for partnerships, as defined under the Austrian Civil Code (GesbR-Reformgesetz – GesbR-RG, BGBl I 83/2014), entered into force. read more...
  • Czech Republic: New developments in contract registration

    The brand new Contract Register Act came into effect on 1 July 2016 (the Act). After 1 July 2016, contracts concluded with certain subjects, such as the state (the Czech Republic), state fund, etc., need to be published in the register of contracts (the "Register").If a contract is not published in the Register within three months of its conclusion, it is considered invalid from the outset (as if the contract was never concluded). read more...
  • Hungary: Amendment to the Civil Code in order to foster lending

    On 13 June 2016 the Hungarian Parliament adopted an amendment to the Civil Code which entered into force two years ago. The main body of the amendment will enter into force on 1 October 2016, and reintroduces the independent mortgage ( önálló zálogjog ) which used to be part of the Hungarian secured transactions regime under the former civil code, and refines the rules of the security deposit ( óvadék ). read more...
  • CJEU rules on liability of marketplace operators for trademark infringements

    Should landlords care about their tenants' IP infringements? According to the Court of Justice of the European Union (CJEU), they should!

Press Releases in Austria

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to
  • Austria: Schoenherr advises banking consortium on issuance of EUR 500 million mortgage covered bond

    Schoenherr advised an international banking consortium comprising Commerzbank Ak-tiengesellschaft (technical lead), Barclays Bank plc, Crédit Agricole CIB and CaixaBank SA as Joint Lead Managers on the successful issuance of a EUR 500 million fixed-rate mortgage covered bond ( Pfandbrief ) by Vienna-based Erste Group Bank AG (closing date: 9 September 2015). The bond was placed with institutional investors and listed on the Second Regulated Market of the Vienna Stock Exchange.  read more...
  • Austria: JUVE confirms Schoenherr's leading role in Austrian legal market and among corporate/M&A pr

    JUVE, the premier German-language legal business publication, ranks Schoenherr as the  leading law firm in Austria  and recognises the firm's Corporate/M&A practice for being at the very  apex of the country's transactional practitioners . In the newly-released 2015 edition of its annual 150-page handbook on corporate law firms in Austria, JUVE identifies Schoenherr as having generated the highest revenues among the country’s 15 largest law firms, thanks not least to Schoenherr's advisory role in a large selection of the headline transactions and restructurings during 2014/15.  read more...
  • Austria: Schoenherr advises Allianz Capital Partners on its first acquisition of wind parks in Austr

    Schoenherr advised Allianz Capital Partners (ACP) on its acquisition of four wind parks in the Austrian state of Lower Austria from ImWind, one of the country’s largest wind farm operators, with a portfolio of 320 MW in operation. read more...
  • Austria: Schoenherr advises UNION Investment on prominent real estate transactions in Vienna

    Schoenherr has advised UNION Investment Real Estate GmbH, one of Europe's leading property investment management companies, on several prominent real estate acquisitions that the Hamburg-based group has made in Vienna. In addition to space2move, Schoenherr has also advised UNION Investment. read more...
  • Austria: Schoenherr advises Cimpress on its acquisition of Austria's Druck.at

    Schoenherr advised Cimpress N.V., a world leader in mass customization, on its acquisition of Druck.at, one of the leading web-to-print businesses in Austria. The transaction, which was announced on 18 March 2015, closed on 17 April 2015 following the successful achievement of various closing conditions including Austrian antitrust clearance. The acquisition supports Cimpress’ strategy of building a software-enabled operational platform that aggregates and optimizes the supply chain and production of mass customized products such as signage, printing, apparel and promotional products. read more...
  • CEE: Schoenherr named Leading Law Firm in South East Europe by Chambers

    Schoenherr has been recognized as " South East Europe Law Firm of the Year " (2015) by the renowned legal publisher Chambers and Partners . Schoenherr lawyers Monica Cojocaru (partner; Bucharest), Miloš Laković (partner, Moravčević, Vojnović & partneri OAD in cooperation with Schoenherr; Belgrade) and Marko Prušnik (partner; Ljubljana) accepted the award on behalf of the firm at the Chambers Europe Awards event held this past Friday evening at Amsterdam’s Hotel Okura. read more...
  • Austria: Arbitration expert Leon Kopecký joins Schoenherr as Counsel

    Leon Kopecký has joined Schoenherr, a leading full-service law firm in Central and Eastern Europe, as Counsel in March 2015. Mr Kopecký focuses on international commercial and investment arbitration, international litigation, and compliance matters. His clients are international firms in the construction, raw materials, infrastructure, finance, fashion and health care industries. He regularly advises clients on complex investment matters. read more...
  • fwp advises UniCredit Bank Austria AG on the sale of Immobilien Holding portfolio

    Vienna, 16 January 2015. Business law firm Fellner Wratzfeld & Partners (fwp) advises UniCredit Bank Austria AG on the multi-stage structured sale of the real estate portfolio it holds via Immobilien Holding GmbH. read more...
  • fwp advises HETA on individual applications for review of special Hypo legislation

    Fellner Wratzfeld & Partner Rechtsanwaelte GmbH (fwp) represents HETA Asset Resolution AG (formerly HYPO Alpe-Adria Bank International AG) in connection with the judicial review proceedings before the Austrian Constitutional Court following the implementation of special Hypo legislation. The Constitutional Court has now rejected all individual applications filed by Austrian and international investors as inadmissible. Read more...
  • fwp advises on stabilising Pfandbriefbank after HETA debt moratorium

    Fellner Wratzfeld & Partners (fwp) successfully provided legal advice to HYPO NOE, the association of mortgage banks of the Austrian Provinces and Pfandbriefbank in connection with financing repayments to be made for specific bond issues, thus ensuring the stability of both Pfandbriefbank and the mortgage banks guaranteeing such repayments.