The Legal 500

Within Banking and finance, Wolf Theiss is a first tier firm,

Wolf Theiss has some of the best banking relationships in Austria, and has been advising on some of the country’s highest-profile restructurings and bank recapitalisations. Standout transactions included representing the distressed Hypo Group during its nationalisation by the Austrian government. Richard Wolf leads the team.

Within Capital markets, Wolf Theiss is a first tier firm,

Wolf Theiss’ capital markets team leverages off the firm’s first-rate relationships with banking clients. In 2010 the practice also increased its experience in corporate bond issuances, with practice head Richard Wolf leading a team that advised UniCredit Bank and Erste Group on the public offering of up to €200m in senior fixed rate bonds by Borealis, the chemicals and plastics manufacturer. Claus Schneider is recommended.

Within Central and Eastern Europe, Wolf Theiss is a first tier firm,

Austrian giant Wolf Theiss is one of the most prominent names in the region and, according to one client, ‘offers a consistently high level of service regardless of where we are doing business’. Standout mandates included advising Hypo Group in negotiations with the Austrian government during its nationalisation; this included negotiations with the European Commission and the restructuring of large loan and lease portfolios across Ukraine, Bulgaria, Serbia, Croatia and Bosnia-Herzegovina. The ‘superb’ Dieter Spranz heads up the practice.

Within Corporate and M&A, Wolf Theiss is a first tier firm,

Wolf Theiss ‘understands clients’ needs’, and ‘its business-minded approach and regional knowledge are a winning combination.’ Work included advising on aspects of the protracted Porsche and Volkswagen merger and advising shareholders of Futurelab on the company's sale to private equity firm BC Partners. Practice head Dieter Spranz is ‘invaluable’.

Within Dispute resolution, Wolf Theiss is a first tier firm,

The ‘first-rate’ and ‘fast-reacting’ Wolf Theiss disputes team is led by Bettina Knoetzl. The firm is representing a major real estate client in a €2bn claim against an Austrian bank for overcharging and fraud, and is also developing its white-collar crime expertise. Christoph Liebscher, Georg Kresbach, Eva Spiegel and Andreas Theiss are all recommended.

Within EU and competition , Wolf Theiss is a first tier firm,

The ‘smooth and efficient’ team at Wolf Theiss is ‘excellent on all points’ and had a strong year, picking up big-name new clients such as Daimler, Amazon, Dell and Chanel. It is advising and representing McArthurGlen, a leading operator of factory outlet centres, before the competition authorities and the Cartel Court. Günter Bauer is highly recommended for his merger control experience; he ‘will never let you down’ and is ‘very responsive and analytically strong’. In 2010 the team was bolstered by the hire of competition specialist Jochen Anweiler from O’Melveny & Myers LLP in Brussels.

Within Employment , Wolf Theiss is a first tier firm,

Wolf Theiss handles many of the largest employment matters in the market, such as advising UniCredit Group and Bayerische HypoVereinsbank on the employment issues relating to their merger, which potentially sees 15% of staff at both companies affected. The team has seen a significant up-turn in work resulting from restructuring and the drive to save costs. The ‘pragmatic and sharp’ Ralf Peschek heads the team and is a favourite among clients. The team is valued for its impressive response times, and ‘workable, pragmatic solutions’.

Within IT and telecommunications, Wolf Theiss is a second tier firm,

Wolf Theiss continues to have a strong reputation for IT and telecoms litigation, and has also developed good experience in digital copyright issues. Georg Kresbach leads the team, which advised a global IT sector player on data protection, regulatory and antitrust issues relating to a product in Austria, Poland and the Czech Republic.

Within Insolvency and corporate recovery, Wolf Theiss is a second tier firm,

Wolf Theiss’ insolvency and restructuring team has close ties with the firm’s excellent CEE and corporate practices, and had an active 2010 advising on a number of large restructurings. Christian Hoenig leads the three-partner team, which also features Eva Spiegel. The firm advised York Capital Management as a major creditor of low-cost carrier SkyEurope during the latter’s €32m insolvency and restructuring in 2010.

Within Intellectual property and media, Wolf Theiss is a second tier firm,

Wolf Theiss had a busy 2010 advising an impressive roster of media and pharmaceutical clients, and is notable for its expertise in digital copyright cases. Georg Kresbach heads up the team, which advised the worlds largest generics manufacturer Actavis in court proceedings to overturn an injunction to sell a generic drug in Austria. Other clients include the European Central Bank and a global IT sector player.

Within Legal market overview,

The redundancies that have hit Western European firms hard are much less evident in Austria, and many of the larger players are as ambitious as ever, with the economic crisis barely dampening expansionism. CHSH Cerha Hempel Spiegelfeld Hlawati, Wolf Theiss and Schoenherr are still sweeping across the CEE, although the mid-tier firms operating out of the capital still garner their fair share of the mandates on offer. Austria has a large number of smaller players, and the boutiques, such as Fellner Wratzfeld & Partners, Schramm Öhler Rechtsanwälte and Gassauer-Fleissner Rechtsanwälte GmbH still prove to be a very successful model.

Within Private client, Wolf Theiss is a second tier firm,

At Wolf Theiss Clemens Schindler is a firm favourite with clients, and is praised as ‘very proactive and dedicated to his clients’. The team represented the heiress Sophie Huvos Czernin in seeking €400m compensation from the Austrian government over the forced sale of her family’s Vermeer painting to the Nazis in 1940.

Within Public procurement, Wolf Theiss is a second tier firm,

Austrian giant Wolf Theiss has a heavyweight reputation in the public procurement arena, and continues to hire into its ‘excellent team of young and committed lawyers’. Practice head Manfred Essletzbichler ‘has the ability to rapidly identify the most crucial problems and knows how to solve them’. The team continues to advise Vienna International Airport on an €800m construction tender for the terminal extension project.

Within Real estate, Wolf Theiss is a first tier firm,

Wolf Theiss is consistently seen as a market leader. Peter Oberlechner leads the team, which continued to represent a developer of factory outlet stores and the Vienna Insurance group on a complex joint venture for the €150m conversion of Salzburg Airport terminal, the largest shopping centre in western Austria. The group also advised Mereit on the €212m sale of its stake in the major property company that owns the IZD Tower in central Vienna.

Within Tax, Wolf Theiss is a first tier firm,

Wolf Theiss has ‘a thoroughly researched approach which is appreciated by the client’. Niklas Schmidt heads the team, which advised York Capital as a creditor of budget airline SkyEurope on various tax, insolvency and reorganisation matters. Clients praise Clemens Schindler as a ‘lawyer you definitely want to have on your side’: ‘strong both in civil law and tax law matters and able to provide direct access to other specialised professionals in his firm’.