The Legal 500

Boutique firm Abel & Abel continues to act for receivers on large-scale insolvency matters. Norbert Abel in particular is recommended.

Brauneis Klauser Prändl Rechtsanwälte GmbH has experience in court enforcement for creditors and in achieving out-of-court settlements. It also represents multinationals facing economic difficulties and employees seeking to assert their rights. Alexander Klauser is recognised for international matters.

As well as being active in domestic restructuring matters, Graf & Pitkowitz advised a financial institution on the restructuring of a cross-border financing initially granted to an Austrian natural gas transporter, an international matter indicative of the firm’s reach and capabilities. The team is led by Alexander Isola, with support from three other partners.

Schoenherr has ‘excellent know-how in insolvency law’. It advised Royal Bank of Scotland and other institutions on the Austrian law aspects of the distressed debt of European Directories Group; and also worked with Austrian and German banks under the lead of Deutsche Bank in connection with the out-of-court restructuring of Leobersdorfer Maschinenfabrik (a manufacturer of compressor systems). Practice head Wolfgang Höller is noted for his communication and negotiation skills.

Schulyok Unger & Partner Rechtsanwälte OEG is a specialist insolvency practice, with a depth of experience acting as administrator both on the compensation and liquidation side. It has particular expertise in advising SMEs on appellate issues and debt relief matters. Peter Schulyok is recommended.

Binder Grösswang Rechtsanwälte is noted for its ‘high level of quality and professionalism’. In 2012 it assisted Österreichische Volksbanken in relation to its financial distress and subsequent part-nationalisation by the Austrian government. The firm was also active on a number of domestic and international restructuring matters. Gottfried Gassner and Thomas Schirmer head the team.

CHSH Cerha Hempel Spiegelfeld Hlawati provides a ‘very satisfactory’ and ‘very well-organised’ service, and is known for its representation of creditors. It advised mBlox as the second-largest creditor in an insolvency matter which involved civil and criminal components. It also assisted the US-French Algeco Scotsman Group on the reorganisation of its subsidiary based in Hungary and Slovenia. Its team of three partners includes Benedikt Spiegelfeld.

CMS’ 13-fee-earner insolvency team sits within its corporate department, and has ‘remarkable technical understanding’. It acts for creditors, debtors, investors and insurance companies. Armin Dallmann is the main contact.

Drawing on resources in its finance and corporate departments, DLA Piper Weiss-Tessbach’s areas of expertise included distressed real estate, debt and equity refinancing, reorganisation strategies, and rescue planning. Recent work includes advising an Austrian bank on its exposure to credit default swaps on Greek sovereign bonds. Oskar Winkler heads the restructuring group.

Dorda Brugger Jordis is advising Penta Investments in its bidding process to buy up parts of A-TEC Industries during the company’s restructuring programme. The team mainly represents banks, advising on the restructuring of loans, out-of-court settlements and enforcement proceedings. Andreas Zahradnik is ‘bright and responsive’.

Acting mainly for Austria’s major financial institutions, Fellner Wratzfeld & Partners impresses with its ‘high level of service’ and ‘outstanding response times’. It acted on the refinancing and restructuring of S&T AG, a publicly listed company providing IT services in the CEE region; and also advised Erste Bank in relation to the insolvency of A-TEC, the third-largest in the country’s history. Markus Fellner is highly recommended.

Freshfields Bruckhaus Deringer’s two-partner team acted for Kommunalkredit Austria on its nationalisation and state aid proceedings with the European Commission, and also assisted a group of banks on the restructuring of a €700m facility for AE&E, involving a raft of banks from both Austria and Germany. Friedrich Jergitsch is recommended.

Held Berdnik Astner & Partner, Rechtsanwälte is highly rated by peers, and has six insolvency lawyers working across its offices in Vienna, Graz and Klagenfurt. Bernhard Astner is a well-known figure.

Kosch & Partner is a small firm with a wide-ranging practice. In insolvency matters, it is known for its work for debtors and in compensation proceedings. The five-partner team includes the highly experienced Jörg Beirer.

Preslmayr Attorneys at Law’s insolvency work is covered by Florian Gehmacher, Matthias Schmidt and Christian Podoschek. It advises a range of medium-to-large businesses in the banking sector.

Wolf Theiss advised a group of Austrian banks (led by Erste Bank) on the restructuring of the debt of environmental technology company SW Umwelttechnik, valued at €80m. It also assisted Erste on the restructuring of a project finance facility for a sports stadium in Split, which involved the Croatian government and is indicative of the firm’s CEE capabilities. The team has grown in recent years and now comprises 15 fee-earners, notably Eva Spiegel and Christian Hoenig.

Benn-Ibler Rechtsanwälte GmbH is a boutique firm handling corporate finance matters, restructurings and related litigation. Stefan Eder has international experience and specialises in capital reorganisation.

Eisenberger & Herzog ‘delivers excellent work’ on the insolvency side, and in the past year handled high-profile matters ranging in value from €20m to €220m. Marcus Benes is noted for his experience in ‘restructuring situations of non-performing loans’.

Hasch & Partner Anwaltsgesellschaft mbH acts on creditor claims and in negotiations with banks. Alexander Hasch handles company reorganisations.

Siemer-Siegl-Füreder & Partner, Rechtsanwälte handles restructuring work within its corporate department. It is currently acting on the planned restructuring of an equipment distributor.