An in-depth look at Ursula Rath of Schoenherr covering her career path, education, and top projects as a lawyer as well as a few insights about her as a manager at work and as a person outside the office.
Austrian Media Privilege: Too Much of a Good Thing
A December 2022 decision by the Austrian Constitutional Court to annul the media privilege in the Austrian Data Protection Act has raised questions on how the country’s approach to the legal landscape regulating the media will change. Wolf Theiss Partner Kurt Retter and DLA Piper Counsel Stefan Panic analyze the ruling’s implications.
Tech-ing the Temperature in Austria
Investment activity in Austria’s technology sector remained strong in 2022, despite the global economic downturn caused by the pandemic. Cerha Hempel Partner Christoph Reiter, Schoenherr Partner Thomas Kulnigg, and Dorda Managing Partner Axel Anderl talk about where the money is coming from, where it is going, and what can be expected for 2023.
New Federal Electronic Announcement and Information Platform
The mandatory fee-based publication in the print medium of the Official Journal of the Wiener Zeitung (Amtsblatt der Wiener Zeitung) ("Official Journal") is going to be replaced by free-of-charge publication on the new Electronic Announcement and Information Platform of the Federation ("EVI").
Schoenherr Advises Carrier on Acquisition of EUR 12 Billion Viessmann Climate Solutions
Schoenherr, working alongside Linklaters and Paul Weiss Rifkind Wharton & Garrison, has advised the Carrier Global Corporation on its acquisition of Viessmann Climate Solutions. Hengeler Mueller and, reportedly, Davis Polk & Wardwell advised Viessmann Climate Solutions.
The Digital Markets Act Goes Live
Regulation (EU) 2022/1925, The Digital Markets Act, is set to apply from 2 May 2023
Addressing digital developments and concerns regarding contestability and fairness in the digital economy, the Digital Markets Act – an ex-ante regulatory system – entered into force on 1 November 2022 and will apply from 2 May 2023. Designed to complement competition law, the Digital Markets Act lays down prohibitions and obligations for designated gatekeepers that provide a range of “core platform services” and gives the European Commission broad investigative and enforcement powers. Generally speaking, the Digital Markets Act aims to prevent unfair practices by gatekeepers.
Michael Binder Retires from Binder Groesswang
Michael Binder has retired from Binder Groesswang as of January 31, 2023.
E+H Advises Stark Group on Acquisition of Schilowsky
E+H, working with Willkie Farr & Gallagher, has advised the Stark Group on its acquisition of Schilowsky Baumarkt und Baustoffhandel.
Schoenherr, BPV Grigorescu Stefanica, and BPV Huegel Advise on HS Timber Group’s Sale of HS Timber Productions Sebes to Ziegler Group
Schoenherr has advised HS Timber Group on its sale of HS Timber Productions Sebes to Ziegler Group. BPV Grigorescu Stefanica and BPV Huegel advised the buyer.
Wolf Theiss Advises ZBI Group on Acquisition of Graz Tower Project from KS Group
Wolf Theiss has advised ZBI Zentral Boden Immobilien Group on its acquisition of the Karntner Strasse 1 tower from the KS Group. Kaan Cronenberg & Partner reportedly advised the seller.
MiCar: Final Steps Towards the Legal Framework for Crypto-Assets
On 20 April 2023 the European Parliament ("EP") finally approved the regulation on markets in crypto-assets ("MiCAR"). The approved final text of the MiCAR is yet to be formally endorsed by the Council, but the EP's approval means the biggest legislative hurdle towards the MiCAR entering into force has been cleared. The approval of the MiCAR follows the finalisation of the last details of the text, after a provisional agreement on the final draft compromise was reached during trilogue negotiations in June 2022.
EU Parliament Approves New Emissions Trading System
On 18 April 2023, the EU Parliament approved the provisional political plan to reduce CO2 emissions in the EU agreed on by the Council and the European Parliament on 18 December 2022. This plan is based on proposals of the "Fit for 55" package presented by the European Commission in 2021 to reduce the EU's net greenhouse gas emissions by 55 % compared to 1990 levels by 2030 and to achieve climate neutrality by 2050.
Schoenherr and Wolf Theiss Advises on Erste Group Bank EUR 1 Billion Mortgage Pfandbriefe Issuance
Schoenherr has advised joint lead managers Erste Group Bank, Intesa Sanpaolo, Landesbank Baden-Wuerttemberg, Landesbank Hessen-Thueringen Girozentrale, Natixis, and TD Global Finance on Erste Group Bank's EUR 1 billion issuance of 3.125% mortgage Pfandbriefe due October 14, 2027. Wolf Theiss advised Erste.
CMS Appoints Five New Partners Across CEE
A new promotion round saw 62 lawyers become Partners at CMS – spanning 25 cities across the UK, Europe, the Middle East, Africa, and Latin America – including Arno Zimmermann, Hans Lederer, and Klaus Pateter in Vienna, Alicja Zalewska-Orabona in Warsaw, and Mihai Jiganie-Serban in Bucharest.
BPV Huegel Advises Next Generation Invest on Low-Energy Real Estate Investment in Austria
BPV Huegel, working with Fieldfisher, has advised Next Generation Invest on its acquisition of a low-energy building in Vienna's Donaustadt district.
Tugce Yalcin To Head New CEE Turkish Desk at Taylor Wessing Vienna
Taylor Wessing Counsel Tugce Yalcin – who joined the firm in March 2023 from DLA Piper – will head the firm's newly established CEE Turkish Desk in Vienna.
Schoenherr Advises UBIQ on Series A Financing Round
Schoenherr has advised Austrian shared-mobility start-up UBIQ on its series A financing round.
Legal Innovation in Continental Europe: A Sneak Peek into Lexpo 2023 with Andrea Miskolczi
As Lexpo – The Legal Innovation Event returns in 2023 after a three-year hiatus, showcasing the latest trends in legal innovation in Continental Europe, CEELM spoke with Dentons Europe Director of Innovation and Member of Lexpo's Advisory Board Andrea Miskolczi to gain an insight into the current state of technology and innovation in CEE, and what the event's attendees have to look forward to.