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Binder Grösswang

STERNGASSE 13, 1010 VIENNA, AUSTRIA
Tel:
Work +43 1 53 48 0
Fax:
Fax +43 1 53 48 08
Email:
Web:
www.bindergroesswang.at
Innsbruck, Vienna

Austria

Administrative law and public sector
Administrative law and public sector - ranked: tier 4

Binder Grösswang

Binder Grösswang is particularly active in EU, state aid and energy law and also handles pharmaceutical law mandates. Johannes Barbist heads the team.

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Banking and finance
Banking and finance - ranked: tier 1

Binder Grösswang

Binder Grösswang’s ‘excellent’ and ‘very professional’ team handles the full spread of financing transactions, including syndicated loans, real estate and project finance and banking supervisory law, which makes it a ‘go-to-firm’ for many national and international financial institutions, corporates and Austrian infrastructure companies. The ‘very competent and pragmatic’ Emanuel Welten advised the New York-based Greenbriar Equity Group on the refinancing of its acquisition of Frauscher Sensor Technology. Stefan Tiefenthaler, who has ‘profound knowledge in project finance’ and co-heads the team with Michael Binder, assisted Raiffeisen-Leasing with the securitistion of lease receivables supported by the European Investment Bank (EIB) and the European Investment Fund with a deal volume of €440m.

Leading individuals

Michael Binder - Binder Grösswang

Stefan Tiefenthaler - Binder Grösswang

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Capital markets
Capital markets - ranked: tier 1

Binder Grösswang

Binder Grösswang’s ‘outstanding’ team benefits from its ‘strong CEE-network’ and acts for an extensive roster of domestic and international clients including issuers and banks, listed companies and investment funds, which retain the team to advise on cross-border capital markets transactions, capital increase projects, debt issuance programmes and prospectus approvals. Team head Florian Khol continues to advise Oberbank on a capital increase, and alongside the ‘very experienced and pragmatic’ Tibor Fabian, he assisted Allgemeine Sparkasse Oberösterreich with a bond offering programme, including the preparation of a base prospectus and assistance with approval proceedings.

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Commercial, corporate and M&A
Commercial, corporate and M&A - ranked: tier 2

Binder Grösswang

Binder Grösswang’s ‘very knowledgeable and professional’ team fields ‘real dealmakers’ and provides a ‘high quality service’, most frequently on corporate reorganisations and cross-border transactions. Markus Uitz and the ‘pragmatic’ Michael Kutschera assisted Novomatic with the acquisition of Albanian company Lotaria Kombetare from Austrian Lotteries. In another highlight, the ‘highly experienced’ Andreas Hable advised ÖBB Rail Cargo Group on the acquisition of a 60% share in Stadler Linz and on the joint venture with Stadler to maintain the Westbahn fleet. On the restructuring side, the ‘very professional’ Gottfried Gassner assisted the Austrian Volksbanken with the restructuring of the Austrian Volksbank sector. Other key individuals include ‘excellent negotiator’ Florian Khol and Thomas Schirmer.

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EU and competition
EU and competition - ranked: tier 2

Binder Grösswang

The ‘very good and dedicated’ team at Binder Grösswanghandles complicated follow-on damage proceedings with ease’ and also has significant experience in merger control, abuse of dominance and compliance work as well as leniency applications. ‘Strategic thinker’ and team head Raoul Hoffer, who is praised for his ‘excellent communication skills’, advised Lenzing on various competition law matters, and assisted Novomatic with merger filing proceedings following the client’s acquisition of a shareholding in Casinos Austria. The ‘committed and pragmatic’ Christine Dietz is ‘superb’ and counsel Isabelle Innerhofer has ‘sharp analytical skills’. Johannes Barbist is also recommended.

Leading individuals

Raoul Hoffer - Binder Grösswang

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Employment
Employment - ranked: tier 2

Binder Grösswang

Binder Grösswang’s ‘professional and solution-oriented’ team is well versed in advising clients on remuneration schemes, employment terminations, pension plans and employment-related data protection work, among other issues. Horst Lukanec, who co-heads the team with the ‘very experienced and knowledgeable’ Angelika Pallwein-Prettner, advised Heitkamp Constructions on various employment law matters including overtime payment claims brought by a former employee.

Next generation lawyers

Angelika Pallwein-Prettner - Binder Grösswang

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Insolvency and corporate recovery
Insolvency and corporate recovery - ranked: tier 2

Binder Grösswang

Routinely working in conjunction with the firm’s banking and finance and corporate practices, Binder Grösswang regularly advises banks and debtors on corporate and financial restructurings, pre-insolvency reorganisations and distressed M&A, while also acting in insolvency-related disputes. The ‘trustworthy and reliable’ Gottfried Gassner, who co-heads the team with Emanuel Welten, advised the creditor Heitkamp Construction on insolvency proceedings pertaining to a construction company.

Next generation lawyers

Gottfried Gassner - Binder Grösswang

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Intellectual property
Intellectual property - ranked: tier 3

Binder Grösswang

Binder Grösswang’s ‘very service-oriented’ team has trade mark work at its core, handling worldwide trade mark portfolio management and registration mandates alongside infringement proceedings, but also deals with IP transfer and licensing matters. ‘Very knowledgeable analyst’ and team head Ivo Rungg, who ‘gets straight to the point’ and ‘knows the market very well’, assisted video game publisher THQ Nordic with the management of its international trade mark portfolio. Counsel Hellmut Buchroithner is also recommended.

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Private client
Private client - ranked: tier 3

Binder Grösswang

Much of Binder Grösswang's work load pertains to succession planning, including the establishment and structuring of foundations, investment, tax and real estate matters. Andreas Hable, who co-heads the team with Bernd Schneiderbauer, advised a family on the transfer of assets, succession and tax planning matters as well as a number of property purchases in and around Vienna.

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Projects and energy
Projects and energy - ranked: tier 2

Binder Grösswang

Binder Grösswang’s ‘highly professional’ team is best known for its multi-disciplinary approach, combining the firm’s M&A, banking and finance, regulatory and dispute resolution expertise to advise infrastructure and energy sector clients alongside financial institutions. The group advised the European Investment Bank (EIB) on the development programme for the regional hospital in St. Pölten, Lower Austria, while also assisting the same client and Erste Bank der oesterreichischen Sparkassen with the financing of wind park Hof-Seibersdorf. Johannes Barbist heads the team.

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Public procurement
Public procurement - ranked: tier 4

Binder Grösswang

Binder Grösswang provides companies and service providers with advice on public tender procedures and assists them with document preparations, the administration and transfer of awarded contracts and also handles review proceedings and litigation. Team head Johannes Barbist is ‘reliable’ and noted for his ‘good relationship with public authorities’.

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Real estate
Real estate - ranked: tier 3

Binder Grösswang

With transactional work at its core, Binder Grösswang advised Corestate Capital on the sale of a student residence in Vienna, and assisted Leasinvest Real Estate with the purchase of shopping mall Frunpark Asten. In other work, Tibor Fabian, who co-heads the team with Markus Uitz, advised Starbucks Coffee on rent and lease matters.

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TMT
TMT - ranked: tier 3

Binder Grösswang

Binder Grösswang is particularly active in the IT and telecoms space, advising on IT outsourcing projects and data protection matters. Team head Ivo Rungg advised KIA Austria on an IT outsourcing project including website hosting issues. Other areas of expertise include e-commerce and domain law matters.

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Tax
Tax - ranked: tier 2

Binder Grösswang

Recognised for its broad offering, Binder Grösswang provides tax law advice on corporate transactions, restructurings and financings while also having substantial expertise in international tax law, accounting law and tax litigation. Christian Wimpissinger, who co-heads the team with the ‘experienced and reliable’ Andreas Hable, assisted Ventrex with tax matters following a restructuring. Other clients include Lenzing, IBM Austria and Renault Österreich.

Next generation lawyers

Christian Wimpissinger - Binder Grösswang

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Austria: Dispute resolution

Arbitration and mediation
Dispute resolution: arbitration and mediation - ranked: tier 3

Binder Grösswang

Binder Grösswang’s ‘very knowledgeable and professional’ team handles a wide range of commercial and insurance coverage disputes. Key individuals include Michael Kutschera and team head Christian Klausegger.

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Commercial litigation
Dispute resolution: commercial litigation - ranked: tier 1

Binder Grösswang

Binder Grösswang’s ‘strategic, reliable and responsive’ team ‘enjoys a remarkable reputation at Austrian courts’ and acts for clients across a range of industries with a specialism in the financial sector, where it frequently represents financial institutions in proceedings against investors. Stefan Albiez represented a number of German banks, including IKB Deutsche Industriebank and Deutsche Hypothekenbank, in claw-back proceedings against several investors, who had invested in closed-end funds, and defended Erste Bank Group against class-actions and mass claims brought by investors pertaining to the insolvency of Alpine. The recommended Christian Klausegger heads the team, which includes the ‘quick and focused’ Ingeborg Edel.

Leading individuals

Christian Klausegger - Binder Grösswang

Next generation lawyers

Stefan Albiez - Binder Grösswang

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White-collar crime (including fraud)
Dispute resolution: white-collar crime (including fraud) - ranked: tier 3

Binder Grösswang

Binder Grösswang focuses on white-collar crime work in the banking, finance and capital markets sectors and is well versed in handling embezzlement and industrial espionage matters for a number of Austrian and foreign banks as well as international corporations. ‘Efficient’ team head Stefan Albiez represented the fashion company Balmain in criminal proceedings against two Austria-based fraudsters following the hacking of the client’s accounting department, and continues to act for Erste Group Bank in a criminal case pertaining to Alpine’s insolvency. Christian Klausegger is another key member of the team.

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Legal Developments by:
Binder Grösswang

  • Foreign investors face new barrier when acquiring Austrian companies

    On December 8, 2011 an amendment of the Foreign Trade Act 2011 (Außenwirtschaftsgesetz 2011, until then Außenhandelsgesetz 2011, “FTA 2011”) entered into force imposing a substantial new barrier on foreign investors when acquiring shares in Austrian companies that operate in areas of public security and order. This amendment came as a surprise as part of the Budget Consolidation Act 2012 (Budgetbegleitgesetz 2012), governing different topics. The key points of the new barrier for foreign investors are the following:
    - Binder Grösswang Attorneys-at-Law

Legal Developments in Austria

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  • DORDA advises on the acquisition of Austrian office properties Denk Drei

    Stefan Artner , Partner and Head of the Real Estate Practice Group, and real estate attorney Klaus Pfeiffer of DORDA advised Austrian Real Estate Development GmbH ( ARE , a subsidiary of Bundesimmobilien-Gesellschaft, the Austrian privatization agency) on the acquisition of the Denk Drei office properties from IC Development . The successful closing of the forward purchase transaction took place on April 30, 2018. The parties have agreed not to disclose the purchase price.
    - Dorda
  • Austrian "White List"

    Exceptions from the OBLIGATION TO CARRY OUT A data protection impact assessment
    - Dorda
  • Stop! Wait! Move! – No longer Stamp Duty for Residential Homes

    On 12 October 2017, right in a last minute attempt to win undecided voters for one of the political parties, the leaving members of parliament enacted a new tax law. While fundamental changes to the Austrian Tenancy Law had been vividly discussed between the socialist and the conservative parties in recent years, the new law on the abolition of stamp duty falls completely short of what could have been achieved.
    - Dorda
  • European Court of Human Rights: Employers have limited rights to monitor employee communications at

    A landmark decision was issued yesterday (Judgement Bărbulescu v. Romania), a source of debate in the media , in which the European Court of Human Rights clarified the restrictions on monitoring employees in the workplace.
  • Potential Hurdle for Acquisitions in Hungary by Non-EU and Non-EEA Investors

    The Hungarian Ministry of the Interior recently submitted a legislative proposal to the Hungarian Government to amend the Act on Hungarian National Security Services (the " Proposal "). The Proposal suggests an amendment pursuant to which investors from non-EU and non-EEA countries who wish to invest in Hungary would have to obtain prior permission from the minister responsible for national security (the " Minister .
  • EU: High-Level Expert Group on Sustainable Finance delivers early recommendations

    On 13 July 2017, the High-Level Expert Group (" HLEG ") on Sustainable Finance published its interim report (" Interim Report ") setting out concrete steps to create a financial system that supports sustainable investments. This Legal Insight is part of our dedicated newsletter series on the European Capital Markets Union (" CMU "). Background The growing awareness of environmental challenges and sustainability risks as well as the adoption of the UN 2030 Agenda and the conclusion of the Paris Climate Agreement by the EU in 2015 call for an EU strategy on sustainable finance. Establishing an EU strategy on sustainable finance is a priority action of the CMU. In December 2016, the HLEG was established to advise on the development of such an EU strategy . The recently published HLEG Interim Report was recently presented in a public hearing on sustainable finance on 18 July 2017. At the same time, the HLEG presented an online questionnaire on the Interim Report aimed at obtaining targeted feedback until 20 September 2017, which would be reflected in the final report of the HLEG scheduled for publication by the end of 2017.
  • Serbian Competition Authority Steps Up Antritrust Enforcement

    The Serbian Commission for Protection of Competition (the " Commissio n") recently intensified its antitrust activities before the new Administrative Act came into effect. In one week alone the Commission initiated four antitrust cases and conducted two dawn raids. 1. What/who will be on the Commission's radar?
  • First Annual Privacy Shield Review to take place in September 2017

    One of the core principles of the EU-US Privacy Shield (" Privacy Shield ") is its Joint Review mechanism, which obliges the European Commission, the US Department of Commerce and the Federal Trade Commission to jointly review the functioning of the Privacy Shield on an annual basis, together with its national security and law enforcement aspects. The very first Joint Review is scheduled for September 2017. This first review is considered especially important, as it will be the first opportunity for US and EU regulators to closely analyse the operation of the Privacy Shield, address possible concerns about its functioning, and seek to ensure that the Privacy Shield continues to be a valid legal basis for transfers of personal data from the EU to the US.
  • The role of the supervisory board in investor relations

    1.Abstract
    - Dorda
  • Constitutional Court's Recent Judgments on Rent in Austria

    The Constitutional Court has recently provided two judgments on 28 June 2017 on the rent control legislation in Austria ruling that the current system for flats complies with Austrian Constitutional Law and the European Convention on Human Rights. The Constitutional Court visibly failed to take the opportunity to initiate a change to the current legislation. Further appeals to the Constitutional Court are likely and worthwhile with the Austrian parties currently involved in their campaigns for the general election in October 2017.
    - Dorda