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Leading individuals

The large and ‘reliable’ team at CHSH Cerha Hempel Spiegelfeld Hlawati is led by Edith Hlawati, and delivers ‘quick and brilliant answers’. It recently worked with AT&S Austria Technologie in relation to a €100m bond; and advised SPAR Österreich on a €200m prospectus for offerings to Austrian and Luxemburg retail investors, where it was responsible for the entire drafting and approval process with the regulators.

Noted for its ‘expertise and top-level service’ and ‘extremely advanced’ industry knowledge, Dorda Brugger Jordis has within its ranks ‘top industry experts’ Andreas Mayr and Christoph Brogyányi. Its work in 2012 included assisting major banks on OMV’s capital increase, via a placement of over 27 million new shares. The firm also advised Miba Aktiengesellschaft as issuer on its first corporate bond, worth €75m.

Noted for its international credentials, Freshfields Bruckhaus Deringer is ‘the best law firm for complex legal matters’ and is able to ‘present pragmatic solutions’. It acted for UniCredit SpA in connection with its capital increase and rights offering of up to 3.8 million new shares, and for EVN AG on the offering and issuance of a €300m bond. Thomas Zottl has ‘outstanding’ dedication.

The ‘very responsive’ and ‘client-oriented’ team at Schoenherr acted for UNIQA on its €500m rights offering, as an intermediate step towards a possible re-IPO in 2013. It also advised JPMorgan on the 2012 update of Erste Bank’s €30bn EMTN programme. Peter Feyl and Ursula Rath are ‘very professional, strong lawyers’.

Wolf Theiss’ capital markets group, led by Richard Wolf, acted for metal recycling company Scholz AG on its first bond issuance in Austria, valued at €150m; and also assisted Telekom Austria on the establishment of its €2.5bn EMTN programme, and subsequent €750m bond issuance. It has ‘excellent legal and market knowledge’, and a team of ‘excellent negotiators’.

Baker & McKenzie Diwok Hermann Petsche Rechtsanwälte GmbH’s four-partner team, led by Philipp Spatz, represented Crédit Agricole (as arranger) in the €1bn debt issuance programme of voestalpine AG, an Austrian steel producing company. The firm also recently closed an unlimited debt issuance programme for renewable energy company W.E.B Windenergie.

Binder Grösswang Rechtsanwälte advised new client Incadea on a capital increase and listing on the London Stock Exchange, carrying out a due diligence exercise and review from the Austrian law side. The firm was also involved in a large number of prospectus approvals with the Austrian Financial Market Authority (FMA), assisting 3-Banken Wohnbaubank (also a new client), among others. Tibor Fabian covers debt capital markets issues.

Brandl & Talos Rechtsanwälte GmbH’s small capital markets team is led by Thomas Talos with support from four other attorneys including Ernst Brandl. The firm recently advised financial services provider ifa on a private limited partnership acquiring hydroelectric power plants, valued at €22m. It also works closely with entertainment company bwin on transactional matters.

CMS assisted Hypo Alpe Adria Bank on its €800m tender offer for notes under its €1.35bn MTN programme, and advised multinational clients such as Bloomberg and UBS on regulatory issues.

DLA Piper Weiss-Tessbach advised real estate developer UBM Realitätenentwicklungt as issuer and three major banks on the successful placement of a €75m corporate bond. Christian Temmel is recommended.

Eisenberger & Herzog provides a ‘cost-saving’ and ‘extremely solution-driven’ service, and its ‘down-to-earth’ team has ‘excellent expert knowledge’. The firm won a significant instruction advising Pecik Group and Sawiris Group on its sale of 21% of the outstanding shares in Telekom Austria to América Móvil; the deal was worth €900m. Peter Winkler is ‘very flexible’.

Weber & Co. is a boutique firm with the capacity to act on major transactions. It counts Deutsche Bank AG and Raiffeisen Centrobank among its active clients, and is led by the experienced Stefan Weber.

bpv Hügel Rechtsanwälte OG’s expertise includes issues of convertible bonds. Its strong relationship with Immofinanz Group has led to a steady flow of instructions. Hanns Hügel is the lead contact.

Herbst Kinsky Rechtsanwalte GmbH’s capital markets practice is led by Phillip Kinsky and Christoph Wildmoser. The firm is known for its structured finance work.

‘Excellent in all aspects’, Skadden, Arps, Slate, Meagher & Flom LLP advised Canadian company Research in Motion in connection with the structuring and implementation of its share option plan for employees in Austria.

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Press releases

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Legal Developments in Austria for Capital markets

  • Austria: New Law Makes Establishing a GmbH Easier and Cheaper

    On Friday, 22 March 2013, a draft new law (Gesellschaftsrechts-Änderungsgesetz 2013 - GesRÄG 2013) was revealed by Minister of Justice Beatrix Karl and Minister of Economy Reinhold Mitterlehner. The GesRÄG 2013, which is expected to come into force on 1 July 2013, aims at facilitating the establishment of an Austrian limited liability company (Gesellschaft mit beschränkter Haftung - GmbH). This article provides a summary of the draft. 
    - Schönherr

Legal Developments in Austria

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to

  • Reselling Used Apps?

    In a recent decision, the Court of Justice of the European Union (CJEU) held that the resale of used software generally cannot be excluded in licence terms. The judgment, which aimed at the resale of used business software, may also affect the app market. Read more...
    - Schönherr

  • Austria: New Law Makes Establishing a GmbH Easier and Cheaper

    On Friday, 22 March 2013, a draft new law (Gesellschaftsrechts-Änderungsgesetz 2013 - GesRÄG 2013) was revealed by Minister of Justice Beatrix Karl and Minister of Economy Reinhold Mitterlehner. The GesRÄG 2013, which is expected to come into force on 1 July 2013, aims at facilitating the establishment of an Austrian limited liability company (Gesellschaft mit beschränkter Haftung - GmbH). This article provides a summary of the draft. 
    - Schönherr

  • Mergers & Acquisitions 2013. Chapter 6: Austria.

    This guide provides corporate counsel and international practitioners with a comprehensive worldwide legal analysis of the laws and regulations of mergers and acquisitions. This article appeared in the 2013 edition of The International Comparative Legal Guide to: Mergers & Acquisitions; published by Global Legal Group Ltd, London. www.iclg.co.uk .
    - Schönherr

  • EU: Genuine Use of Community Trademarks Changes due to recent CJEU decision C-149/11

    EU-wide protected Community Trademarks (as well as national trademarks) have to be used for the claimed goods and services in the course of trade within the EU in order to maintain their protection and enforceability. A (partial) lack of use, however, does not automatically result in a (partial) lapse of the trademark registration. On the other hand, after an initial “grace period” of 5 years beginning with the registration of the trademark, genuine use of the trademark would have to be proven when enforcing such trademark against third parties; furthermore, anybody could request revocation of such trademark in so far as it had not been genuinely used for goods and services covered by the registration (Art 15, 51(1)(a) CTMR).
    - Schönherr

  • Real Estate 2013. Chapter 4: Austria

    This guide provides the international practitioner and in-house counsel with a comprehensive worldwide legal analysis of the laws and regulations of real estate. This article appeared in the 2013 edition of The International Comparative Legal Guide to: Real Estate; published by Global Legal Group Ltd, London. www.iclg.co.uk .
    - Schönherr

  • Real Estate 2013. The End of Extend and Pretend: Non-Performing Loans in CEE/SEE

    This guide provides the international practitioner and in-house counsel with a comprehensive worldwide legal analysis of the laws and regulations of real estate. This article appeared in the 2013 edition of The International Comparative Legal Guide to: Real Estate; published by Global Legal Group Ltd, London. www.iclg.co.uk . 
    - Schönherr

  • Client Alert: Amendments to Austrian Competition Law

    In December 2012, the Austrian Parliament adopted changes to the Austrian Cartel Act as well as the Austrian Competition Act that will enter into force as of 1 March 2013 (Austrian Cartel and Competition Law Amendment Act; KaWeRÄG 2012). Although the Amendment does not lead to a major overhaul of the current system, several changes are noteworthy: 
    - Schönherr

  • EU: European Commission releases Action Plan on European Company Law and Corporate Governance

    The Action Plan is titled "European company law and corporate governance – a modern legal framework for more engaged shareholders and sustainable companies" and was made public on 12 December 2012. Its key elements are presented in the following summary.
    - Schönherr

  • Austria: New laws on Hiring-Out of Labour

    Based on directive 2008/104/EC, Austria's hiring-out of labour laws have been amended (BGBl 98/2012). According to the directive, the implementation into national law should already have taken place by 5 December 2011. After a first failed attempt in February 2012 to implement the directive effective 1 July 2012, the implementation has now taken place belatedly, effective 1 January 2013. Furthermore, the new laws on the hiring-out of labour not only implemented the directive, but also stipulated further regulations for temporary work. This text provides an overview of the most important amendments in the new laws.
    - Schönherr

  • CEE: The Corruption Perception Index 2012

    Transparency International ("TI") released its Corruption Perception Index 2012 ("CPI 2012") earlier today. The Corruption Perception Index ranks countries based on how corrupt their public sector is perceived to be. The index, which reflects the views of observers from around the world, offers a yearly snapshot of the problem of corruption by ranking countries from all over the globe. The index covers issues such as free access to information, bribery of public officials, kickbacks in public procurement, and the enforcement of anti-corruption laws. The CPI 2012which is available at: http://cpi.transparency.org/cpi2012/results/ ranks 176 countries.
    - Schönherr

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/CEE: Schoenherr further expands its strong standing in new Chambers Global rankings

    Schoenherr's standing as a leading corporate law firm in Central and Europe Europe (CEE) has once again been confirmed by the rankings that Chambers & Partners, the distinguished legal directories publisher, released at the end of last week. Schoenherr practice areas in Austria and across CEE received a total of 17 rankings in the 2013 edition of Chambers Global, including seven top tier ("Band 1") rankings. Read more...
    - Schönherr

  • Austria: Schoenherr advises NOVOMATIC on acquisition of majority stake in I-NEW

    Schoenherr, a leading corporate law firm in Central and Eastern Europe, advised NOVOMATIC AG, one of the world's largest producers and operators of gaming technologies, in connection with its investment in I-NEW Unified Mobile Solutions AG. Following the 19 April 2013 signing, NOVOMATIC's acquisition of a 50.097 percent stake in I-NEW is expected to close in around two months. The parties agreed to keep the financial terms of the transaction confidential. Read more...
    - Schönherr

  • Schoenherr further expands its strong standing in new Chambers Global rankings

    Schoenherr's standing as a leading corporate law firm in Central and Europe Europe (CEE) has once again been confirmed by the rankings that Chambers & Partners, the distinguished legal directories publisher, released at the end of last week. Schoenherr practice areas in Austria and across CEE received a total of 17 rankings in the 2013 edition of Chambers Global, including seven top tier ("Band 1") rankings.
    - Schönherr

  • Austria/Turkey: Schoenherr advises Ganahl group on its Turkey expansion

    Schoenherr advised Austrian packaging group Ganahl AG on the acquisition of MKB Oluklu Mukavva Kutu ve Ambalaj San. Tic. A.S. ("MKB"). MKB is active in the corrugated packaging industry in Turkey, a sector which is currently attracting a lot of foreign investors. The transaction has been completed in February this year. The parties agreed to keep the purchase price confidential.
    - Schönherr

  • AT: Schoenherr publishes second edition of English-language basic primer on Austrian employment

    The need for English-language specialist literature on legal issues in Austria has risen with the increasing internationalisation of firms active in the country. Now available in a revised second edition, "Employment Law: A Basic Primer" provides interested practitioners with an overview of the most important provisions of Austrian employment law.
    - Schönherr

  • AT/CEE: Schoenherr advises bauMax creditors on financial restructuring package

    Schoenherr, a leading full-service corporate law firm in Central Europe, advised a group of some 40 Austrian and international creditors (lenders, bondholders and hedge counterparties) on the negotiation and execution of a comprehensive financial restructuring package for bauMax group, a leading DIY retailer in Austria and the CEE region.
    - Schönherr

  • AT: Schoenherr advises Austrian pharmaceutical wholesaler Jacoby...

    on its merger with gm pharmaSc
    - Schönherr

  • AT/Central Europe: Schoenherr maintains its top position in the Austrian M&A market in 2012

    Schoenherr, a leading full-service corporate law firm in Central Europe, maintained its top position in the Austrian M&A market in 2012, according to the league tables for legal advisors * published by the Financial Times Group's business intelligence subsidiary mergermarket. According to mergermarket's deals database, Schoenherr's M&A practice ranked No 1 in terms of the number of qualifying Austrian M&A transactions it advised on in 2012. Having ranked first on this basis in mergermarket's 2011 league table for Austria, Schoenherr thus continued to lead its legal advisory peers, 48 of which managed to earn a ranking in the 2012 table.
    - Schönherr

  • AT: Schoenherr advises France Telecom in sale of Orange Austria to Hutchison

    Schoenherr, a leading full-service corporate law firm in Central Europe, advised France Telecom-Orange as overall transaction counsel in the telecom company’s recently completed sale of its shareholding in Orange Austria to a unit of Hutchison Whampoa.
    - Schönherr

  • Schoenherr advises Daimler on the reorganization of its joint-venture with Pappas

    The Central European law firm Schoenherr advised Daimler AG on the reorganization of its joint-venture with the Austrian Pappas family. Daimler will acquire Pappas' share in Mercedes-Benz Österreich Vertriebsgesellschaft mbH (the general importer of Mercedes-Benz, smart and Fuso cars) and Mercedes-Benz Financial Services Austria GmbH, the Aus-trian financial services provider. Further, Daimler and Pappas will restructure the Austrian spare parts wholesale business from 1 January 2014; Daimler will provide spare parts from its logistics center in Nuremberg, Germany. Completion of the transaction is subject to merger control clearances. The purchase price is confidential.
    - Schönherr
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