Firm Profile > Dorda Rechtsanwalte GmbH > Vienna , Austria
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Dorda Rechtsanwalte GmbH > The Legal 500 Rankings
Capital markets Tier 1
Dorda Rechtsanwalte GmbH is a popular choice for investment banks, issuers and investors to assist with the full range of equity and debt issuance matters, such as private placements and public offerings alongside structured and high-yield debt issuances, which the team frequently handles in co-operation with its M&A practice. In headline work, Christoph Brogyányi and Andreas Zahradnik acted as Austrian counsel on Bawag's initial public offering on the Vienna stock exchange, raising €1.9bn and making it Austria's largest IPO, and in other work, Tibor Varga and Felix Hörlsberger acted as Austrian counsel when assisting a committee of holders of senior unsecured notes and other debt instruments issued by Steinhoff Europe with matters pertaining to Steinhoff International's announcement of accounting irregularities. Andreas Mayr heads the team.
Dorda Rechtsanwalte GmbH's 'very strong and experienced' team is a respected player in the market, acting for clients in various corporate and commercial disputes including ICC arbitration proceedings. Much of its workload pertains to disputes arising from co-operation, distribution and trade agreements alongside post-M&A issues and frequently includes white-collar criminal defence matters. Florian Kremslehner jointly heads the team with Veit Öhlberger, who has 'a very sharp and analytical mind' and routinely acts as an arbitrator, as does senior partner Christian Dorda. Counsel Gunnar Pickl is 'someone to watch'.
Dorda Rechtsanwalte GmbH's contentious work frequently includes white-collar criminal defence issues and is based on three pillars: Florian Kremslehner heads the commercial and corporate litigation team and the overall dispute resolution department, which consists of 'bright and talented' lawyers; the 'pragmatic' Felix Hörlsberger is the main contact for insurance defence litigation; and Bernhard Rieder is the name to note for class actions. In recent work, Hörlsberger acted for Chubb as D&O insurer for the Austrian manufacturer Facc in D&O litigation and Rieder represented real estate company Atrium in a civil action brought by over 700 former shareholders. Stephan Steinhofer is another key member of the team. Thomas Voppichler joined KNOETZL HAUGENEDER NETAL in 2018.
As part of the firm's wider dispute resolution practice, Dorda Rechtsanwalte GmbH's white-collar crime team represents individuals in parallel civil and criminal defence proceedings, which frequently pertain to accusations of fraud, embezzlement, bribery, corruption and tax evasion while also handling compliance matters and criminal investigations. Practice head Florian Kremslehner and Daniela Firulovic are the main contacts.
Intellectual property Tier 1
Recognised for its ‘hands-on approach’ and ‘quick turnaround and responsiveness’, Dorda Rechtsanwalte GmbH’s ‘extremely competent’, ‘highly specialised’ and ‘very skilled and deep’ IP team advises on domestic and international copyright, trade mark, unfair competition and patent law matters, with additional capabilities in the IT sector. The ‘impressive’, ‘extremely talented’ and ‘focused’ Axel Anderl heads the team in a ‘practical, very effective’ manner. He and ‘very accurate and reliable’ attorney Andreas Seling acted for McDonald’s in a trade mark infringement and unfair competition case against supermarket chain Lidl, preventing it from using copy-cat packaging. Bernhard Heinzl was promoted to junior partner in October 2017; he and Anderl act for a leading Austrian bank, Erste Bank, in trade mark disputes.
TMT Tier 1
'Highly recommended' by clients, Dorda Rechtsanwalte GmbH's 'outstanding' team is 'extremely knowledgeable, dedicated and perfectly organised'. It is led by 'top-notch expert and mastermind' Axel Anderl, who 'always goes the extra mile and never loses sight of any risks', and is praised for its 'extensive industry knowledge and impressive track record' covering the full spectrum of TMT work. Anderl recently advised Erste Group and its subsidiary s IT Solutions AT Spardat on its largest outsourcing project, and assisted Kommunalkredit with its new online banking business and associated greenfield outsourcing project. Together with recommended junior partner Nino Tlapak, he also assisted Uniqa Group with its General Data Protection Regulation (GDPR) implementation. Felix Hörlsberger is another key name for data protection matters and Heinrich Kühnert is experienced in regulatory telecoms work. 'Quick thinker' Bernhard Heinzl made junior partner in October 2017 and is 'extremely dedicated'. Bernhard Müller is also noted.
Banking and finance Tier 2
Dorda Rechtsanwalte GmbH receives regular instructions from domestic and international banks, funds, corporates and public entities to advise on the full spectrum of banking and finance matters including finance transactions, regulatory and bank contract law issues. The group also handles contentious matters and has particular strength at the interface with capital markets law. Andreas Zahradnik and Tibor Varga jointly head the team.
With a focus on cross-border transactions, Dorda Rechtsanwalte GmbH's 'very reliable' team is particularly active for corporates, investment banks and private equity clients and 'does not shy away from outside-the-box solutions'. Public M&A team head Andreas Mayr advised Chinese conglomerate HNA Group on the acquisition of a majority shareholding in C-Quadrat Investment, and 'very responsive and dedicated' private M&A practice head Martin Brodey and the 'hardworking and efficient' Christian Ritschka acted for Capvis on its acquisition of a majority stake in Amann Girrbach. Jürgen Kittel has a strong focus on M&A and private equity, Christoph Brogyányi is the key contact for corporate matters at the intersection with capital markets law, and Bernhard Rieder frequently advises on corporate restructurings and heads the corporate litigation group.
‘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 pragmatic’ Felix Hörlsberger ‘solves complex topics in a way the client is able to follow’, while the ‘hardworking’ Christian Ritschka ‘is always reachable, fast and very efficient’. Both advised Austrian real estate investor and developer Supernova Group.
Real estate Tier 2
Dorda Rechtsanwalte GmbH has carved out a strong transactional real estate practice and is also experienced in lease matters, advising several investment companies and funds, frequently in conjunction with the firm's finance and dispute resolution practices. Team head Stefan Artner acted for S Immo on the sale of OMV's Vienna HQ to Deka Group, and assisted Are Austrian Real Estate with the forward purchase of Denk Drei, a retail and office development in Vienna. Klaus Pfeiffer is also recommended.
Construction Tier 3
Dorda Rechtsanwalte GmbH's construction team stands out for its 'great availability', 'competence in all legal fields' and prompt response times. The team is adept at preparing and negotiating general contractor agreements, but also handles the construction aspects of residential real estate developments. Team head Stefan Artner conducted due diligence for Helvetia Versicherungen on the construction contracts for two residential properties due to be competed in 2020. Klaus Pfeiffer advises TK Maxx on general contractor and architects agreements, as well as on construction and operation permits.
Employment Tier 3
The 'particularly responsive' and 'pragmatic' team at Dorda Rechtsanwalte GmbH advises employers and employees on individual and collective labour law matters, including contracts, termination agreements, corporate restructuring, data protection, and employment issues arising from mergers and acquisitions. The 'highly experienced' Thomas Angermair, who is praised for his understanding of complex cross-border mandates, 'technical expertise' and 'pleasant working relationships', leads the practice. In recent highlights, Angermair assisted with the employment aspects of the sale of ZKW Group to LG, and represented UBS before the Vienna Court for Labour and Social Matters in a dispute with an employee who was challenging a termination of employment, which led to a successful settlement. The team is noted for its strengths in the banking, pharmaceutical and life sciences, and cultural sectors, with clients including Credit Suisse, Bayer, Novartis and Wiener Symphoniker.
EU and competition Tier 3
The healthcare and pharmaceutical sector is a key focus for the team at Dorda Rechtsanwalte GmbH, which counts Novartis Group, Kwizda, GlaxoSmithKline, Orpéa Group and a number of Austrian manufacturing businesses among its clients. Practice head Heinrich Kühnert is 'an excellent attorney with passion, deep knowledge, and a wide range of experience and humanity': 'he is always willing to make any effort to get the best results'. Highlights included Kühnert and of counsel Elisabeth König advising manufacturing company on the acquisition of a business with production sites in the US and Germany, and acting for Robopolis, a European distributor of electronic consumer goods, in proceedings before the Austrian Federal Competition Authority regarding alleged resale price maintenance.
Private client Tier 3
Dorda Rechtsanwalte GmbH’s private client team’s particular focus lies on corporate succession, securing personal assets and providing for future generations; it regularly advises on the setting up of Austrian trusts and foundations involving tax and estate structuring issues. Paul Doralt, who is able ‘to come up with great solutions’, is advising a Middle Eastern investor in relation to a large-scale real estate matter in Austria. He also jointly leads the department with Elmar Drabek.
Projects and energy Tier 3
Dorda Rechtsanwalte GmbH handles the full spectrum of transactional and regulatory energy and natural resources matters, while also handling infrastructure work. Of counsel Elisabeth König advised Spanish utilities company Gas Natural Fenosa on various regulatory and transactional matters pertaining to its entry into the Austrian market. Bernhard Müller and Heinrich Kühnert jointly head the team. OMV and Klima- und Energiefonds are also clients.
Tax Tier 3
Dorda Rechtsanwalte GmbH has a specialism in cross-border tax matters, most notably those involving transactional, corporate and finance elements, and private client work. 'Creative and knowledgeable' team head Paul Doralt advised GP Investments and Rhone Capital on various tax issues concerning the merger of their subsidiary Magnesita with RHI.
Dorda Rechtsanwalte GmbH advises on environmental, waste management, water, and pharmaceutical law, among other areas, and acts for a number of energy and telecoms companies. The team also handles constitutional issues; Bernhard Müller is acting for Lucura Versicherungs in an action before the Austrian Constitutional Court and the Commercial Court of Vienna relating to the collapse of Hypo-Alpe-Adria Bank. In the gaming sector, Müller is advising a consortium that operates casinos and lotteries in the Czech Republic on the Austrian gaming law aspects of its proposed acquisition of shares in Casinos Austria.
Public procurement Tier 4
With notable experience in energy, healthcare and life sciences-related work, Dorda Rechtsanwalte GmbH assists tenderers and contracting parties with general public procurement law matters and PPPs. Team head Bernhard Müller assisted OMV with the implementation of a new global tender strategy, and advised GlaxoSmithKline Pharmaceuticals on procurement matters pertaining to its tender of FSME vaccines.
Dorda Rechtsanwalte GmbH > Firm Profile
DORDA is one of the leading law firms in Austria. Our team of about 90 lawyers supports our clients in all relevant areas of business law. With our extensive experience in all legal areas, we are a competent partner handling and solving all legal issues.
DORDA believes in teamwork as a key to success. Our lawyers are team players, both with our client and within our firm. These ethics in dealing with our clients have always been an integral part of our law firm and have earned us numerous internationally renowned awards. Moreover, we are consistently named as one of the leading national business law firms in Austria by all internationally relevant lawyers’ rankings.
Our lawyers actively pursue and participate in the development of constantly changing fields of law. As part, thereof we see it important to regularly inform and update our clients, delivering clarity in a highly complex legal world. As an important part of our team-player mentality, we are well connected with other law firms around the globe. In particular, we have established a network of leading local law firms in Central and Eastern Europe – our so-called “Best Friends” network. This network enables us to act as a one-stop-shop for our clients and offer access to well established and experienced local business lawyers.
Areas of practice: Core practice areas include M&A, corporate and commercial law, tax, banking and finance, capital markets, arbitration and litigation, restructuring and insolvency, competition and antitrust, real estate, employment, insurance, public law, energy law, life sciences, IP and IT, immigration and advising private clients.
|Banking and finance||Andreas Zahradnikfirstname.lastname@example.org||+43-1-533 4795-42|
|Banking and finance||Tibor Vargaemail@example.com||+43-1-533 4795-28|
|Capital markets||Andreas W Mayrfirstname.lastname@example.org||+43-1-533 4795-64|
|Capital markets||Christoph Brogyányiemail@example.com||+43-1-533 4795-480|
|Competition and antitrust||Heinrich Kühnertfirstname.lastname@example.org||+43-1-533 4795-35|
|Corporate and commercial||Christoph Brogyányiemail@example.com||+43-1-533 4795-480|
|Corporate and commercial||Bernhard Riederfirstname.lastname@example.org||+43-1-533 4795-42|
|Corporate and commercial||Veit Öhlbergeremail@example.com||++43-1-533 4795-19|
|Dispute resolution||Florian Kremslehnerfirstname.lastname@example.org||+43-1-533 4795-18|
|Dispute resolution||Christian Dordaemail@example.com||+43-1-533 4795-14|
|Dispute resolution||Felix Hörlsbergerfirstname.lastname@example.org||+43-1-533 4795-17|
|Employment||Thomas Angermairemail@example.com||+43-1-533 4795-24|
|Immigration||Elmar Drabekfirstname.lastname@example.org||+43-1-533 4795-168|
|Insurance||Felix Hörlsbergeremail@example.com||+43-1-533 4795-17|
|Insurance||Florian Kremslehnerfirstname.lastname@example.org||+43-1-533 4795-18|
|IT, IP and media||Axel Anderlemail@example.com||+43-1-533 4795-23|
|Life sciences||Francine Brogyányifirstname.lastname@example.org||+43-1-533 4795-480|
|M&A||Martin Brodeyemail@example.com||+43-1-533 4795-38|
|M&A||Andreas W Mayrfirstname.lastname@example.org||+43-1-533 4795-64|
|M&A||Jürgen Kittelemail@example.com||+43-1-533 4795-64|
|Private client||Paul Doraltfirstname.lastname@example.org||+43-1-533 4795-101|
|Private client||Elmar Drabekemail@example.com||+43-1-533 4795-168|
|Public law||Bernhard Müllerfirstname.lastname@example.org||+43-1-533 4795-57|
|Real estate and construction||Stefan Artneremail@example.com||+43-1-533 4795-103|
|Restructuring and insolvency||Andreas Zahradnikfirstname.lastname@example.org||+43-1-533 4795-42|
|Restructuring and insolvency||Tibor Vargaemail@example.com||+43-1-533 4795-28|
|Tax||Paul Doraltfirstname.lastname@example.org||+43-1-533 4795-101|
|Dr Veit Öhlberger, M.Jur.||View Profile|
|Dr Axel Anderl, LL.M. (IT Law)||View Profile|
|Mag Thomas Angermair||View Profile|
|MMag Stefan Artner, MRICS||View Profile|
|Dr Martin Brodey||View Profile|
|Mag Christoph Brogyányi||View Profile|
|Mag Francine Brogyányi||View Profile|
|Hon-ProfDr Walter Brugger||View Profile|
|Dr Paul Doralt||View Profile|
|Dr Christian Dorda||View Profile|
|Mag Elmar Drabek, B.A.||View Profile|
|Mag Daniela Firulovic||View Profile|
|MMag Dr Felix Hörlsberger||View Profile|
|Mag Bernhard Heinzl||View Profile|
|Mag Georg Jünger||View Profile|
|Mag Elisabeth König||View Profile|
|Dr Heinrich Kühnert, M.Jur.||View Profile|
|Dr Jürgen Kittel, LL.M. (NYU)||View Profile|
|Dr Florian Kremslehner||View Profile|
|Mag Lisa Kulmer||View Profile|
|Dr Bernhard Müller (Priv.-Doz.)||View Profile|
|Dr Andreas W MAYR, LL.M.||View Profile|
|Mag Gunnar Pickl||View Profile|
|Hon-ProfDr Herbert Pimmer||View Profile|
|Mag Marie-Luise Pugl||View Profile|
|Dr Bernhard Rieder||View Profile|
|Dr Christian Ritschka||View Profile|
|Dr Andreas Seling, M.B.L.||View Profile|
|Dr Stephan Steinhofer||View Profile|
|Mag Nino Tlapak, LL.M. (IT Law)||View Profile|
|Dr Tibor Varga||View Profile|
|Dr Andreas Zahradnik||View Profile|
Staff FiguresNumber of lawyers : 87
LanguagesEnglish French German Hungarian Italian Russian Spanish Finnish Farsi (Persian) Romanian Polish
OtherManaging Partner : Francine Brogyányi Managing Partner : Axel Anderl Managing Partner : Martin Brodey Contact : Thomas Angermair
What has been your greatest achievement, in a professional and personal capability?
There have been many legal landmarks such as conducting ebay’s Austrian subsidiary during its entire lifecycle – from establishment, the rapid and large development of the business to its wind-down and beyond – by being taken along by its employees to their new projects which themselves became big market players. Another great achievement was obtaining the first decision on keyword advertising from a national European Supreme Court. For me, these personal milestones are jigsaw pieces of a bigger picture: the real thing I am proud of – both from a professional and personal perspective – is having been able to develop an area of law which was deemed in best caase as ‘exotic’ into a powerhouse of a top-tier law firm. This, again, is closely connected to having been able to raise the next generation of top tech and IP lawyers and to provide all key players a place in the team by constant growth.
What do you do differently from your peers in the industry?
From the feedback we receive there are the following main aspects: we act as a real service procider with maximum client care. This means providing well founded but clear advice, swift as required in the IT market and transparent when it comes to costs. Another thing is combining the legal assessment with the required technical understanding and always reflecting the business impact. In particular, this combined approach is well received. The foundtion of all of this is a top team that is the largest in IT within the Austrian market which is again a consequence of my personal approach of granting real career perspectives, sharing achievements and honesty.
What advice would you give to your younger self?
Do it exactly the same way, again. The extra mile is worth it. But enjoy the special moments before carrying on.
Can you give me a practical example of how you helped a client add value to the business?
As this approach is the foundation of my daily business it is hard to single out a specific occasion. Adding value to our clients’ businesses means, for example, contributing our deep market knowledge about service providers and from previous projects in the selection phase of outsourcing projects; giving reasonable advice reflecting the business aspects and providing clients with personalised updates on market trends and business opportunities. This for sure also includes being frank at an early stage if we see that a certain project, investment or proceeding does not make sense from a legal or local perspective.
Within your sector, what do you think will be the biggest challenge for clients over the next 12 months?
Currently, the GDPR implementation is very challenging and ties up many resources. I do expect that this will go beyond the effective date on 25 May 2018 since so many companies decided to be late adaptors rather than being early birds. Besides, we are awaiting a lot of, still lacking, guidelines from the national and European authorities with respect to the GDPR and there is quite a need for clarification by the European Supreme Court. Further, we also see that digitalisation has reached many industry branches which are clearly no IT natives.
Good things come to those who wait? Finally, the main implementing regulation for the Austrian Law on Network and Information System Security (Netz- und Informationssystemsicherheitsgesetz, "NISG") was published last week. It serves primarily to define which companies are actually affected by the NISG. Now it is getting serious for the operators of "essential services". What does that mean?
Black Friday is unquestionable one of the most profitable and busiest days of the year for retail, particularly online. Worldwide almost all online store do offer sales or special promotions on Black Friday or Cyber Monday. Already after this practice has established online, a trademark for "BLACK FRIDAY" was registered in Germany back in 2013. In 2016 a Chinese company acquired the trademark and then filed in 2017 for its extension to Austria. Based on the registered trademark, it granted exclusive rights to an Austrian company, which licensed usage rights to various partner stores against remuneration. Further, an exclusive "Black Friday-Cooperation Program" was established. Non-partners who used the event name or trademark were prosecuted and requested to either pay a license fee or refrain from running Black Friday promotions. Some followed the request and entered into license agreements. Some, however, did challenge the validity of the trademark. Finally, respective proceedings to check the actual protection of the trademark were initiated. Austrian courts now held that the trademark "BLACK FRIDAY" is not protected in Austria.
On 5th December 2018, the Austrian data protection authority (Datenschutzbehörde, "DSB") issued a decision (DSB-D123.270/0009-DSB/2018) on data subject's right to data deletion according to Art 17 GDPR. In a nutshell, the DSB accepted consistent anonymisation as a valid alternative to physical and technical deletion. Beside the clear statement that anonymous data is not subject to the GDPR, the DSB provided detailed information on (technical) requirements of anonymisation methods:
Media companies throughout Europe struggle with a difficult economic environment: Shrinking sales figures for print products, the digitalisation and consumer demand force publishers to offer their content also on the internet. However, generating money for online publications is not quite easy as – at least in Austria – online subscription against renumeration has not been well accepted by customers. This partially has its root in the lack of suitable micropayment means in the past and users thus getting acquainted to online information being offered for free. Thus, publishers have instead focused on financing their platforms by online marketing activities such as placement of banners. Nowadays such digital advertisement is usually targeted to the specific user. For this purpose, cookies are stored on the user's computer upon his first visit of the website, which then collect data about his location, technical equipment used and online behaviour. This finally allows to display specific, user targeted advertisements. However, such cookies may cause issues with applicable consent requirements under the telecommunication and data protection regulations:
Processing operations subject to the requirement of a data protection impact assessment.
Following the "White List", the data protection authority has now also issued the long-awaited "Black List" in form of a binding regulation. This provides greater clarity as to when Data Protection Impact Assessments ("DPIA") are actually to be carried out in practice in Austria. As already in the draft, the regulation does not provide an exhaustive list of processing operations that are subject to the requirement. Rather, the regulation specifies criteria - some of which require further interpretation - which shall make it necessary to carry out a detailed examination.
Austrian Real Estate and Construction Law
On 30 June 2018 an amendment to the Vienna Building Code entered into force rendering it more difficult to demolish historic buildings in the Austrian capital. Is this the beginning of a new and hostile approach to owners of historic buildings? No! The Austrian Constitutional Court had already confirmed in 2017 that the rent based on the reference value (Richtwertmietzins) and the prohibition to request higher rent in certain areas of the city (Lagezuschlag) were in line with the constitution. In addition, the Supreme Court had redefined the rent control system in leading judgments in 2017. Despite massive impacts on owners of historic buildings, the federal legislator has not provided viable solutions.
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.
Exceptions from the OBLIGATION TO CARRY OUT A data protection impact assessment
Immediately on 25 May, the GDPR-day, the Austrian Data Protection Authority published its White List brining some clarity concerning the obligation to carry out a data protection impact assessment. As expected, especially standardized data processing activities and already registered processing operations that have to be approved by the authority in advance do not require an impact assessment.
for Austria and we can only hope that it will be issued soon as well.
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.
Contrary to common law jurisdictions such as the US or UK, the laws of civil law jurisdictions Germany and Austria provide for a two-tier structure for stock companies (Aktiengesellschaft), thereby strictly distinguishing the tasks, duties and responsibilities of the Management Board (Vorstand) from those of the Supervisory Board (Aufsichtsrat). Under the Austrian Stock Companies Act (Aktiengesetz), the Management Board has the sole competence to represent the company vis-à-vis third parties. There are only limited exceptions in which the Supervisory Board may act for, in the name of and on behalf of the company.
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.
Buy-to-let schemes reached the Austrian market several years ago and have gained increased popularity in the scenic alpine regions of Tyrol, Vorarlberg or Salzburg. Investors acquire condominium ownership in newly constructed hotel facilities and rent out the properties to hotel operators at – ideally – attractive rates. While buy-to-let-schemes can be very lucrative investments, they also raise complex legal and tax questions. With the economic and financial crisis falling into oblivion, investors, however, have become more and more willing to sail these waters.
After some last-minute amendments, the new Austrian Data Protection Act, implementing and supplementing the EU General Data Protection Regulation, was finally adopted by the Austrian Parliament on 30 June 2017. The new provisions provide for some local specialties that must be considered by all companies active in Austria. All changes become applicable from May 2018 but the new obligations require complex internal amendments that should be reflected in the course of the GDRP implementation to avoid the increased penalties. [read more here]
On 1 January 2017 the Austrian Wage and Social Dumping Prevention Act (Lohn- und Sozialdumping-Bekämpfungsgesetz – abbreviated to "LSD-BG") came into effect. An enhanced liability regime for the principal shall reduce and ultimately eliminate the undercutting of wages, in particular in the construction sector. The last six months have shown increased awareness of potential liabilities by principals and workers.
The Insolvency Law Amending Statute of 2017 (Insolvenzrechtsänderungsgesetz 2017, IRÄG 2017) was adopted by the Council of Ministers at the end of March and is currently in the process of being reviewed. The reform is due to enter into force on 1 July 2017 and contains significant innovations. Its primary objective is to facilitate the debt relief of natural persons.
Pursuant to the Austrian Broker Act (Maklergesetz), a broker has to fairly and diligently protect their principal's interest. Until a very recent judgment of the Austrian Supreme Court (Oberster Gerichtshof), courts have taken a very lenient stance on the liability of real estate agents. The judgment of the Supreme Court of 24 Jan 2017, however, might permanently divert existing case law.
The long-awaited first draft for the new Austrian Data Protection Act, implementing and supplementing the EU General Data Protection Regulation, was finally published on 12 May 2017.
The implementation of clauses on short-term premium instalments
In its ruling (7 Ob 5/16k) of 17 February 2016, the Austrian Supreme Court determined that a clause on "short-term premium instalments" (Unterjährigkeitsklauseln) contained in the general terms and conditions for life insurance contracts with premium refund was non-transparent. The clause provided that premiums may be paid in semi-annual, quarterly, or monthly instalments.
Top Tier Firm Rankings
- Banking and finance
- Capital markets
- Commercial, corporate and M&A
- Dispute resolution: arbitration and mediation
- Dispute resolution: commercial litigation
- Dispute resolution: white-collar crime (including fraud)
- EU and competition
- Intellectual property
- Real estate