PHH Rechtsanwalte has advised Banijay Germany on its acquisition of a stake in Influence.Vision. Dorda advised the sellers.
ESG: Reimagining The Investment Landscape
CEE Legal Matters spoke with CMS Partners Alexander Rakosi, Horea Popescu, Philipp Mark, and Tetyana Dovgan about the impact the rise of ESG is having on the M&A landscape.
Paradigm Shift in Austrian Crypto Taxation
The pioneering Austrian legislator is breaking new ground in the area of crypto taxation. Income from cryptocurrencies will no longer be taxed progressively, at up to 55% for individuals, but at a flat rate of 27.5% withholding tax. With these rules, the Austrian legislator has brought clarity to the taxation of crypto assets for the first time and has responded to the increased practical relevance of cryptocurrencies and the need to tax them in line with securities. The previous taxation of crypto assets was mainly based on non-binding information from the homepage of the Austrian Ministry of Finance.
Schoenherr and EY Law Advise on Grosso Tec's Partial Takeover of S&T
Schoenherr, working with Hogan Lovells in Germany, has advised S&T on a voluntary partial public takeover offer by Grosso Tec. EY Law advised Grosso Tec.
Baker McKenzie Advises Datwyler on QSR Group Acquisition
Baker McKenzie has advised Datwyler on its acquisition of the QSR Group from Q Holding and 3i. Kirkland & Ellis reportedly advised the sellers.
On a New Adventure: Patricia Gannon Announces Platforum 9
CEE Legal Matters readers will likely be familiar with Patricia Gannon as one of the founders of Karanovic & Partners. Since her withdrawal from the firm (reported by CEE Legal Matters on September 21, 2020), Gannon ran her own "holistic strategic advisory business" (as reported on October 12, 2020) and, recently, she announced she is working on a new social media app for lawyers – Platforum 9. We caught up with her to learn more about her new project.
The Buzz in Austria: Interview with Martin Ebner of Schoenherr
With the effects of the war in Ukraine remaining difficult to predict, there is ample work generated by the sanctions alone, according to Schoenherr Partner Martin Ebner.
Austrian Supreme Court On The Liability of a Bank-Auditor
In a recently published decision (OGH 4 Ob 145/21h) the Austrian Supreme Court ruled that an auditor who neglects due diligence and therefore issues an incorrect audit opinion shall be liable for damages to a third party who relies on the correctness of such an audit opinion and suffers damages resulting from such reliance.
CMS Appoints Four New Partners and Two Equity Partners Across CEE
Following CMS's recent global promotion round, Nevena Radlova, Michal Andruszkiewicz, Cristina Popescu, and Olga Shenk were promoted to Partner, with Partners Gabriela Staber and Andrea Potz becoming Equity Partners.
Closing: Stark Group’s Acquisition of Dach & Wand Handels from Swisspearl Group Now Closed
On April 6, 2022, Taylor Wessing announced that the Stark Group’s Acquisition of Dach & Wand Handels GmbH from Swisspearl Group (reported by CEE Legal Matters on February 21, 2022) has closed.
EU: Advertorials May Increasingly Become the Target of Unfair Competition Claims
In a preliminary ruling following a request by the German Federal Court of Justice (case C-371/20), the Court of Justice of the European Union (CJEU) interpreted Point 11 of Annex I to the Unfair Commercial Practices Directive (Directive 2005/29/EC; UCP-Directive). This provision aims at preventing the use of editorial content in the media to promote a product where a business has paid for the promotion without making this clear in the content or through images or sounds clearly identifiable by the consumer (advertorial).
Why International Law Effectively Protects Investments in Russia
The truth is rarely pure and never simple. But in the case of Russia's military operation in Ukraine, it just might be. Russia breached Article 2(4) of the UN Charter, which prohibits the use of force against the territorial integrity or political independence of any state. Russia's acts have prompted the EU, the UK and the US to impose economic sanctions, such as freezing assets and disconnecting Russian banks from the SWIFT international payments network. Whilst the number of private businesses that are halting their activities in Russia is steadily growing, Russia has adopted a law paving the way for expropriations of assets of foreign firms that leave the country following economic sanctions. But what can foreign companies do if Russia proceeds to take their assets, if they are unable to freely transfer returns from investments out of Russia or if their profits collapse?
London Calling: Interview with Vladimir Rangeloff, Managing Partner of Kambourov & Partners
On April 5, 2022, leading lawyers from across all of CEE will be coming together for the Dealer's Choice Conference and Deals of the Years Awards Banquet. Leading up to the event, we spoke with Vladimir Rangeloff of Kambourov & Partners to learn what they are looking forward to the most.
Oil & Gas Laws and Regulations in Austria
Contributed by Schoenherr.
London Calling: Interview with Silvije Cipcic-Bragadin, Director of Cipcic-Bragadin Mesic and Associates
On April 5, 2022, leading lawyers from across all of CEE will be coming together for the Dealer's Choice Conference and Deals of the Years Awards Banquet. Leading up to the event, we spoke with Silvije Cipcic-Bragadin of Cipcic-Bragadin Mesic and Associates to learn what they are looking forward to the most.
London Calling: Interview with Gabor Bebok, Partner of Pontes Budapest
On April 5, 2022, leading lawyers from across all of CEE will be coming together for the Dealer's Choice Conference and Deals of the Years Awards Banquet. Leading up to the event, we spoke with Gabor Bebok of Pontes Budapest to learn what they are looking forward to the most.
Closing: Nissan's Sale of Austrian Dealer and Distribution Network Now Closed
On March 14, 2022, Cerha Hempel announced that Nissan Center Europe’s sale of its Austrian dealer and sales network to Astara Mobility (reported by CEE Legal Matters on January 11, 2022) has now closed.
Herbst Kinsky: Advice to Ukrainians in Austria
This review was prepared for Ukrainian refugees by the law firm Herbst Kinsky Rechtsanwälte GmbH upon request and in coordination with the international legal network Multilaw and Ukrainian law firm Arzinger. The review is as of March 11, 2022, will be updated as relevant, also Ukrainian translations will be added. The review is not a legal advice and is for informational purposes only. For updates, please follow www.multilaw.com and/or www.arzinger.ua