Insolvency and corporate recovery in Austria

Fellner Wratzfeld & Partners

Providing ‘exceptional support for the clients’ and ‘expert legal advice’, Fellner Wratzfeld & Partners assists with restructurings and reorganisations, particularly for credit institutions, and is also active in financing and recapitalisation, especially of listed companies with bonds. Markus Fellner leads the team with ‘outstanding service quality’ and ‘deep business know-how’. Florian Kranebitter is also recommended.

Freshfields Bruckhaus Deringer

Incorporated into the banking and finance practice department, the team at Freshfields Bruckhaus Deringer advises various stakeholders, encompassing corporate entities, creditors, regulators, lenders, borrowers and insolvency practitioners, on intricate restructuring transactions, frequently in a cross-border setting in the CEE area. Friedrich Jergitsch leads the team, and Florian Klimscha is another key team member.

Graf & Pitkowitz

Graf & Pitkowitz’s insolvency and restructuring team covers a wide array of insolvency work, from restructurings, insolvencies and reorganisations to distressed M&A. When not advising debtors, creditors, investors, family-owned businesses, managing directors and board members, co-heads Alexander Isola and Stefan Weileder are routinely appointed as insolvency administrators.

Schoenherr (Schönherr Rechtsanwälte)

Schoenherr (Schönherr Rechtsanwälte)’s insolvency team specialises in advising creditors and debtors alike on pre-insolvency reorganisations and refinancing transactions, with a particular focus on restructuring banks. Team head Wolfgang Höller and Miriam Simsa acted for Kika/Leiner to fend off looming insolvency proceedings, enabling the sale of the business to Signa. Other clients include Salesianer Miettex and the European Bank for Reconstruction and Development. Martin Ebner is also a key member of the team.

Binder Grösswang

With the support of the banking and finance, dispute resolution and corporate departments at its disposal, ‘very quick, well-structured and organised team at Binder Grösswang routinely acts for creditors and debtors in national and international corporate and financial restructurings and distressed M&A transactions, as well as in insolvency proceedings. The ‘open-minded’ and 'very reliableGottfried Gassner, who leads the team with Emanuel Welten, advised the international creditors’ co-ordinating committee on the restructuring of the prominent Steinhoff Group and acted for TUI Group on the pre-insolvency and insolvency proceedings of Air Berlin and Niki Luftfahrt.

Cerha Hempel

In cooperation with the firm’s corporate, finance and litigation departments, the ‘very responsive’ team at Cerha Hempel provides ‘to-the-point and hands-on’ advice to creditors and shareholders on insolvency law, including pre-insolvency debt collection and insolvency proceedings. Other areas of expertise include corporate structure and debt reorganisations, as well as distressed M&A. The ‘always friendly and speedy’ department head Thomas Trettnak ‘is a pleasure to work with’; he and Heinrich Foglar-Deinhardstein advised CNH over the course of the insolvency proceedings of goods supplier Fahrzeug- u. Maschinenbau-Prototypen.

Dorda Rechtsanwalte GmbH

Thinking outside of the box’, Dorda Rechtsanwalte GmbH's ‘very reliable and supportive’ insolvency and corporate recovery team advises banks and other creditors and debtors on pre-insolvency reorganisations and restructurings, encompassing distressed M&As and refinancings. Another area of expertise is the representation of creditors in insolvency proceedings and related litigation. The ‘very pragmaticFelix Hörlsberger ‘solves complex topics in a way the client is able to follow’, while the ‘hardworkingChristian Ritschka ‘is always reachable, fast and very efficient’. Both advised Austrian real estate investor and developer Supernova Group.

Eisenberger & Herzog

Cross-border financial and corporate restructuring transactions, loan enforcement and the representation of creditors in Austrian insolvency proceedings are staples of Eisenberger & Herzog’s insolvency and corporate recovery practice, while the restructuring of listed bonds is becoming an area of increased activity. Clients also benefit from the practice’s ability to rely on the firm’s corporate, M&A, capital markets, restructuring and finance teams. Practice co-head Michael Strenitz advised QuadraCir – formerly Asamer Holding – as co-lead counsel on debt restructuring, asset sale and liquidation matters, while other co-head Marcus Benes acted for Scholz Holding on the restructuring of a retail bond. Peter Winkler is another key contact.

Preslmayr Attorneys at Law

Preslmayr Attorneys at Law is adept at representing major creditors such as banks in insolvency proceedings and handling insolvency administration work, while also acting for clients in reorganisations and refinancings, including advising companies on the acquisition of distressed assets. Matthias Schmidt leads the team and represents Shell Energy Europe as a major creditor in CE Gas Marketing & Trading’s insolvency.

Wolf Theiss Rechtsanwalte GmbH & CoKG

Noted for its ‘in-depth knowledge’, theextremely quick’ and ‘very precise’ team at Wolf Theiss Rechtsanwalte GmbH & CoKG handles substantial restructuring mandates for bank syndicates and international funds in Austria and the CEE region with support from the firm’s corporate, finance and real estate departments. Eva Spiegel advised Hemisphere as co-lead counsel in connection with the sale of distressed Kika/Leiner’s real estate portfolio to Signa. Other team members include Nikolaus Paul, Andrea Gritsch, Claus Schneider and Andreas Schmid.

ABEL Rechtsanwälte GmbH & Co KG

Acting for insolvency administrators and debtors alike, the team led by Norbert Abel at ABEL Rechtsanwälte GmbH & Co KG also manages restructurings for corporate entities.

CMS Reich-Rohrwig Hainz Rechtsanwälte GmbH

Advice on corporate and financial restructurings, insolvency law and transactions, especially distressed M&A, in Austria and in the CEE region are major fields of activity for CMS. Günther Hanslik leads the team, which also includes Alexander Rakosi.

Engelhart & Partner Rechtsanwälte OEG

With a focus on sizeable domestic and cross-border insolvency administration mandates, Engelhart & Partner Rechtsanwälte OEG also handles reorganisation and restructuring work for distressed companies and creditors. Karl Engelhart is the key contact.


FREIMÜLLER/OBEREDER/PILZ Rechtsanwält_innen GmbH operates at the interface of insolvency and employment law and is experienced in assisting debtors. Key contact Georg Freimüller also acts as a liquidator.

Jaksch, Schoeller & Riel, Rechtsanwaltskanzlei

Jaksch, Schoeller & Riel, Rechtsanwaltskanzlei has insolvency administration at its core, while also advising creditors and corporates on restructuring matters. Stephan Riel is the main point of contact.

Saxinger, Chalupsky & Partners Rechtsanwälte GmbH (SCWP Schindhelm)

Primarily operating from its Wels office in Upper Austria, but also present in Vienna and Graz, the team at Saxinger, Chalupsky & Partners Rechtsanwälte GmbH (SCWP Schindhelm) advises debtors and creditors alike on all aspects of insolvency, restructuring (with a particular focus on Chinese companies) and distressed M&A. The team consists of team head Ernst ChalupskyGerald SchmidsbergerAlexander Anderle, who routinely acts as an insolvency administrator; Christian Pindeus and Fritz Ecker.

Taylor Wessing enwc Rechtsanwälte GmbH

Advising debtors, shareholders and directors, Taylor Wessing Austria focuses on insolvency administration, particularly involving transnational elements, distressed M&A and insolvency litigation. Team head Susanne Fruhstorfer was appointed as insolvency practitioner on numerous occasions, including for real estate company WienWert Getreidemarkt 10 Immobilienbesitz and Lemos Industrieservice, and represented AGCO in the insolvency proceedings of a major supplier.

Urbanek Lind Schmied Reisch Rechtsanwälte OG

Urbanek Lind Schmied Reisch Rechtsanwälte OG covers a broad range of areas, including advising companies and investors on restructuring and distressed M&A. Ulla Reisch is particularly renowned by clients and peers for her insolvency administration expertise.

Vavrovsky Heine Marth Rechtsanwälte

The ‘highly experienced and very commercial, resourceful, thorough and extremely service-oriented’ team at Vavrovsky Heine Marth Rechtsanwälte has a dedicated insolvency administration practice, while also advising on insolvency and restructuring matters. ‘Renowned insolvency and restructuring expertDr Karl Ludwig Vavrovsky heads the department; he was appointed as administrator in the insolvencies of Hans-Jörg Reinhart Privatstiftung and Schirm & Collegen Deutsches Marketing. Nikolaus Vavrovsky is also a key contact.